Business Development Manager Salary

Business Development Managers in search of top-notch pay will find it at Google, Inc., where the median salary of $194K trumps the $72K per year-national average for those in this profession. Other employers shelling out big bucks include Cisco Systems Inc, Lockheed Martin Corp, and Hewlett-Packard Company, where Business Development Managers typically earn around $146K, $143K, or $138K, respectively. The data for this snapshot was collected from individuals who took PayScale's salary survey.

$40,553 - $120,013
(Median)
$41K
$72K
$120K
MEDIAN: $72,321
10%
50%
90%

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$10.32 - $38.85
(Median)
$10
$18
$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 - $120,013  
   
Bonus
$495.69 - $29,413  
Profit Sharing
$514 - $15,109  
Commission
$0.00 - $40,787  
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).
)
$42,683 - $135,149  
Country: United States | Currency: USD | Updated: 20 Jun 2015 | Individuals Reporting: 6,715
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 - $38.85  
   
Overtime
$11.92 - $41.49  
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
$495.69 - $29,413  
   
Commission
$0.00 - $40,787  
Profit Sharing
$514 - $15,109  
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).
)
$42,683 - $135,149  
Country: United States | Currency: USD | Updated: 20 Jun 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 $145K 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

Popular Skills for Business Development Manager


Survey takers working as Business Development Managers report using a large range of professional skills. 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. Most people familiar with 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. Salaries of relatively inexperienced workers fall in the neighborhood of $61K, but folks who have racked up five to 10 years see a notably higher median of $83K. Business Development Managers bring in $95K after working for 10 to 20 years. 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 $103K.

Pay Difference by Location


Home to some of the best pay for Business Development Managers, San Jose offers exceptional salaries, 39 percent above the national average. Business Development Managers will also find cushy salaries in Houston (+24 percent), San Francisco (+18 percent), Washington (+12 percent), and Boston (+10 percent). The smallest paychecks in the market, 5 percent south of the national average, can be found in Miami.

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.

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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 3%

New Business Development
up arrow 1%

Powerpoint
up arrow 1%

Project Management
0%

National Average
$80,000

Account Management
up arrow 1%

Sales Management
up arrow 1%

Market Research
up arrow 2%

Account Sales
up arrow 3%

Microsoft Excel
up arrow 4%



up arrow 8%


Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 1118 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: 85% dental benefits Dental: 73%
vision benefits Vision: 61% employee benefits None: 12%
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