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Business Development Manager Salary

The average Business Development Manager in the United States earns approximately $72K annually. The final incomes of Business Development Managers generally vary between $43K and $135K; higher pay grades include potential for bonuses, profit sharing, and commissions as high as $29K, $15K, and $41K, respectively. While career duration and location impact pay for this group, the specific employer is the most influential factor. Medical benefits are awarded to most, and a strong majority earn dental coverage. The majority of Business Development Managers (65 percent) survey respondents are male. Most Business Development Managers like their work and job satisfaction is high.
$40,517 - $119,443
(Median)
41K
53K
72K
96K
120K
MEDIAN: $72,006
10%
25%
50%
75%
90%

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$10.23 - $38.00
(Median)
10
19
25
38
MEDIAN: $18.00
10%
50%
75%
90%

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Show Annual Salary Show Hourly Rate

National Salary Data

 (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$0$50K$100K$150K
Salary
$40,517 - $119,443  
   
Bonus
$495.28 - $28,910  
Profit Sharing
$721 - $14,629  
Commission
$0.00 - $40,755  
Total Pay (?
XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).
)
$42,669 - $134,907  
Country: United States | Currency: USD | Updated: 11 Dec 2014 | Individuals Reporting: 6,212
National Hourly Rate Data (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$0$25$50$75
Hourly Rate
$10.23 - $38.00  
   
Overtime
$11.69 - $38.01  
National Annualized Data (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$0$50K$100K$150K
Bonus
$495.28 - $28,910  
   
Commission
$0.00 - $40,755  
Profit Sharing
$721 - $14,629  
Total Pay (?
XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).
)
$42,669 - $134,907  
Country: United States | Currency: USD | Updated: 11 Dec 2014 | Individuals Reporting: 259
United States (change)

Job Description for Business Development Manager

A business development manager plays many different roles related to helping a business grow. One main duty of a business development manager is achieving revenue goals. An individual in this position must actively identify and generate prospects using strategies geared towards customers in their target markets. Maintaining good working relationships with current clients is key as well. This helps to increase client retention and to promote new sales and connections through referrals and references. Along those same lines, a business development manager must also find and develop new and existing referral sources from which successful referential relationships can be gained. A typical day in the life of a business development manager may include meeting with different company teams and establishing goals and strategies, meeting with clients to discuss business relationships, developing proposals for new strategies, etc. Business development managers are hired in almost any and every type of industry.

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Business Development Manager Tasks

  • Identify and develop new and existing referral sources to develop successful referring relationships.
  • Actively identify and generate prospects through strategic sales strategies focusing on customers in target markets.
  • Achieve revenue goals.
  • Maintain good working relationships with existing clients previously to enhance client retention and new sales through referrals and references.

Common Career Paths for Business Development Manager


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Business Development Managers who go on to become Business Development VPs may see their salaries climb quite a bit. Median pay for Business Development VPs is $146K annually. With an annual salary of $112K, Business Development Director is the most common role for Business Development Managers to subsequently assume on their way up the ladder. Transitioning into a Marketing & Business Development Manager role — which usually pays $68K — is also typical for Business Development Managers, though less common by comparison.

Business Development Manager Job Listings

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Popular Employer Salaries for Business Development Manager


Dominating the field, Cisco Systems Inc, Advantage Sales & Marketing, LLC, Baker Hughes Inc, Cognizant Technology Solutions Corp, and Hewlett-Packard Company are top firms with a reputation for hiring a great number of Business Development Managers. The biggest paychecks can be found at Lockheed Martin Corp — the median salary there is $141K. Other big spenders include Hewlett-Packard Company, Cisco Systems Inc, and HCL America, Inc., top-paying firms where Business Development Managers see paychecks nearing $138K, $135K, or $115K.

Earnings fall especially short at Advantage Sales & Marketing, LLC, where the median salary of $60K is the lowest in the field, less than half of the top paying company's rate. Others at the bottom of the scale for this job include Cognizant Technology Solutions Corp at $98K, and Baker Hughes Inc where $100K is the norm, but it is worth noting that some Business Development Managers there earn up to $154K.

Popular Skills for Business Development Manager


Business Development Managers seem to exploit a large range of skills on the job. Most notably, skills in Strategic Sales, Strategic Planning, New Business Development, and Project Management are correlated to pay that is above average. Skills that are correlated to lower pay, on the other hand, include Customer Relationship Management, Sales, and Microsoft Office. Most people experienced in Customer Relationship Management also know Account Management and Strategic Planning.

Pay by Experience Level for Business Development Manager

Median of all compensation (including tips, bonus, and overtime) by years of experience.


Experience seems to be a major factor in determining the incomes of Business Development Managers. Although individuals who have less than five years' experience earn $61K on average, people with five to 10 years benefit from a notably larger average of $82K. Business Development Managers claiming one to two decades of experience make an estimated median of $96K. Individuals who report more than two decades of experience seem to make only slightly more than folks in the 10-to-20 year range; the more senior group sees median earnings in the comparatively modest ballpark of $104K.

Pay Difference by Location


For Business Development Managers, busy San Jose offers a higher-than-average pay rate, 38 percent above the national average. Business Development Managers can also look forward to large paychecks in cities like Houston (+26 percent), San Francisco (+16 percent), Boston (+7 percent), and Denver (+7 percent). Miami ranks last in the field for pay, reporting salaries 7 percent below the national average.

Business Development Manager Reviews

What is it like working as a Business Development Manager?
Business Development Manager in Pittsburgh:
"Work flexibility, good office conditions, stress, sales."
Pros: I like the informal atmosphere and great colleagues. I like our member companies and the flexibility to meet new companies. I enjoy meeting new people in the region.
Cons: I do not enjoy the sales aspect. I do not enjoy sales goals and how part of my salary is dependent upon if companies want to join the council or not.

Related Job Salaries

Experience Affects Business Development Manager Salaries




National Average
$79,000


Skills That Affect Business Development Manager Salaries



New Business Development
up arrow 2%

Powerpoint
0%

Project Management
0%

National Average
$79,000

Account Management
up arrow 1%

Sales Management
up arrow 1%

Market Research
up arrow 3%

Microsoft Excel
up arrow 4%

Account Sales
up arrow 4%




up arrow 7%


Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 1315 votes.

Gender

Female
35 %
Male
65 %

Years of Experience

Less than 1 year
2%
1-4 years
27%
5-9 years
28%
10-19 years
29%
20 years or more
14%

Common Health Benefits

medical benefits Medical: 86% dental benefits Dental: 73%
vision benefits Vision: 60% employee benefits None: 12%