Marketing & Business Development Manager Salary
Median pay for Marketing & Business Development Managers in the United States lies in the neighborhood of $64K annually. Total cash incomes of Marketing & Business Development Managers run from $37K to $126K, depending on bonuses that can occasionally exceed $25K, profit sharing that reaches $12K, and some commissions of nearly $35K. Career length is the biggest factor affecting pay for this group, followed by geography. Women Marketing & Business Development Managers who took the survey just slightly outnumber men. Most enjoy medical while a strong majority get dental coverage. Vision coverage is also available to a majority. Job satisfaction is high and work is enjoyable for most Marketing & Business Development Managers. This report is based on answers to PayScale's salary questionnaire.
Job Description for Marketing & Business Development Manager
Marketing and business development managers are in charge of market research and advertising for their company. They are in charge of the "public face" of the company, which includes the website, emails to clients, and social media sites.Read More...
These managers' main responsibilities are to oversee teams working on projects such as marketing, advertising, and business development decisions.
They typically work in an office setting during regular business hours, although overtime may be required for time-sensitive projects; travel may also occasionally be required. Typically, marketing and business development managers work with a marketing team to promote the company and draw in new customers. They also work with other managers to make business development decisions; in most cases, they report their decisions directly to the chief executive officer (CEO) of the company. In addition, they may also be called on to provide customer service to clients in the form of public relations.
The position of marketing and business development manager requires at least a bachelor’s degree in marketing, but a master’s degree typically is preferred. In addition to education, work experience is essential; the amount of experience required may range from two years to five or more. These managers must also have skills with basic computer software such as Microsoft Office.
Marketing & Business Development Manager Tasks
- Research market size, market trends and statistics relative to market expansion opportunities.
- Support new initiatives with research, analysis, writing, the development of electronic collateral and Power Point presentations.
- Deliver high level support related to market intelligence to the sales and marketing teams.
- Research, analyze and report on marketplace trends and competitors.
Common Career Paths for Marketing & Business Development Manager
It's not very common for Marketing & Business Development Managers to move on to become Business Development VPs. Average pay for a Business Development VP is $147K annually. Marketing & Business Development Managers moving up in their careers tend to step into positions as Business Development Directors or Marketing & Business Development Directors. The median paychecks in those roles are $48K higher and $28K higher, respectively.
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Popular Skills for Marketing & Business Development Manager
Marketing & Business Development Managers seem to exploit a large range of skills on the job. Most notably, skills in Strategic Planning, Strategic Marketing, Sales, and Product Marketing are correlated to pay that is above average. Those listing Media / Public Relations as a skill should be prepared for drastically lower pay. Social Media Marketing and Marketing Communications also typically command lower compensation. Most people experienced in New Business Development also know Customer Relationship Management (CRM) and Marketing Management.
Pay by Experience Level for Marketing & Business Development Manager
Median of all compensation (including tips, bonus, and overtime) by years of experience.
Marketing & Business Development Managers with a rich background of experience are typically rewarded with larger paychecks. Average salaries for inexperienced employees average out to around $55K, but folks who have five to 10 years of experience earn a higher median of $68K. Marketing & Business Development Managers see a median salary of $82K after reaching one to two decades on the job. Average wages for folks with more than 20 years of experience come out to around $104K.
Pay Difference by Location
For Marketing & Business Development Managers, Houston provides a pay rate that is 51 percent greater than the national average. Marketing & Business Development Managers can also look forward to large paychecks in cities like San Francisco (+47 percent), Atlanta (+32 percent), Chicago (+22 percent), and Seattle (+18 percent). Miami is home to the smallest salaries in the field, lagging the national average by 19 percent. Employers pay around 17 percent less in Denver and 10 percent less in Washington, below-median salaries for those in this field.
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Key Stats for Marketing & Business Development Manager
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