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Business Development Manager Salary

The average Business Development Manager in the United States earns approximately $72K annually. With some bonuses approaching $29K and certain profit sharing proceeds approaching $15K, overall incomes of Business Development Managers spread between $43K and $135K depending on individual performance. The specific employer is the main element affecting pay for this group — years of experience and location are driving factors as well. Medical benefits are awarded to most, and a strong majority earn dental coverage. Job satisfaction for Business Development Managers is high. Men make up the majority of Business Development Managers (64 percent) survey respondents. The data in this summary comes from the PayScale salary survey.

$40,553 - $120,074
(Median)
$41K
$72K
$120K
MEDIAN: $72,413
10%
50%
90%

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$10.32 - $38.89
(Median)
$10
$19
$39
MEDIAN: $18.00
10%
50%
90%

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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
$40,553 - $120,074  
   
Bonus
$493.96 - $29,457  
Profit Sharing
$511 - $14,854  
Commission
$0.00 - $40,626  
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).
)
$42,692 - $135,268  
Country: United States | Currency: USD | Updated: 16 May 2015 | Individuals Reporting: 6,658
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
$10.32 - $38.89  
   
Overtime
$11.79 - $40.86  
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
$493.96 - $29,457  
   
Commission
$0.00 - $40,626  
Profit Sharing
$511 - $14,854  
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).
)
$42,692 - $135,268  
Country: United States | Currency: USD | Updated: 16 May 2015 | Individuals Reporting: 287
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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. A Business Development Director role is the most common promotion for Business Development Managers moving up the ladder, and pay for the position tends to be around the $112K mark. Another typical, albeit less common, transition for Business Development Managers is a Marketing & Business Development Manager position, where earnings are usually $68K.

Business Development Manager Job Listings

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Popular Employer Salaries for Business Development Manager


Many Business Development Managers can be found at Cisco Systems Inc, Advantage Sales & Marketing, LLC, Baker Hughes Inc, Cognizant Technology Solutions Corp, and Hewlett-Packard Company, firms that are at the top of the field. Lockheed Martin Corp attracts talent by shelling out the biggest paychecks in the area — the median in that office is $143K. Other leaders in compensation levels are Cisco Systems Inc at $141K, Hewlett-Packard Company at $138K, and HCL America, Inc., where Business Development Managers annually earn $115K.

Advantage Sales & Marketing, LLC offers the lowest pay in the industry by far, with a median salary less than half of the top paying company's rate ($59K). Workers at Office Depot, Inc., Cognizant Technology Solutions Corp, and Baker Hughes Inc also face smaller salaries than the rest of the field — average earnings for these employers come to $83K, $98K, and $103K respectively.

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, Strategic Marketing, and New Business Development are correlated to pay that is above average. Skills that seem to negatively impact pay include Customer Relationship Management, Sales, and Microsoft Office. The majority of those who know 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 and income seem to be closely related; in general, the survey respondents who had worked for more years reported higher incomes. Salaries for the relatively untried average out to around $61K, but survey participants with five to 10 years of experience earn a significantly higher median of $83K. Business Development Managers who work for 10 to 20 years in their occupation tend to earn about $95K. Veterans who have surpassed the 20-year mark may make only slightly more than those who are navigating the mid-career stage; the more senior group reports median earnings of around $104K.

Pay Difference by Location


San Jose is home to an above-average pay rate for Business Development Managers, 40 percent higher than the national average. Business Development Managers can also look forward to large paychecks in cities like Houston (+26 percent), San Francisco (+21 percent), Boston (+9 percent), and Washington (+9 percent). The lowest-paying market is Miami, which sits 7 percent below the national average.

Business Development Manager Reviews

What is it like working as a Business Development Manager?

Business Development Manager in Richmond:
"A lot of Work."
Pros: You get to interact with people on a daily basis and get out of the office. It is a fast pace environment.
Cons: Micromanaging and high stress.

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

United States (change)

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Experience Affects Business Development Manager Salaries




National Average
$80,000


Skills That Affect Business Development Manager Salaries



Strategic Marketing
up arrow 2%

New Business Development
up arrow 1%

Powerpoint
0%

National Average
$80,000

Account Management
up arrow 1%

Project Management
up arrow 1%

Sales Management
up arrow 2%

Market Research
up arrow 3%

Account Sales
up arrow 4%




up arrow 8%


Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 1174 votes.

Gender

Female
36 %
Male
64 %

Years of Experience

Less than 1 year
2%
1-4 years
28%
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%
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