Marketing & Business Development Manager Salary
Pay for Marketing & Business Development Managers in the United States sits in the ballpark of $64K annually. Cash earnings of Marketing & Business Development Managers — including $25K in bonuses, $12K in profit sharing proceeds, and $35K in commissions near the top of the pay scale — stretch from approximately $38K to approximately $128K depending on individual performance. Career length is the biggest factor affecting pay for this group, followed by geography. Most Marketing & Business Development Managers report high levels of job satisfaction. Men are slightly outnumbered by their female counterparts who answered the questionnaire, who make up a slight majority at 58 percent. Most report receiving medical coverage from their employers and a strong majority collect dental insurance. The data for this synopsis comes from respondents who took the PayScale salary survey.
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
Though not the most common occurrence, Marketing & Business Development Managers sometimes become Business Development VPs, where the average income is $147K per year. Marketing & Business Development Managers most often move into positions as Business Development Directors or Marketing & Business Development Directors; those groups report median salaries that are $48K higher and $28K higher, respectively.
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Popular Skills for Marketing & Business Development Manager
Marketing & Business Development Managers seem to wield many skills on the job. Most notably, skills in Strategic Planning, Strategic Marketing, New Business Development, and Sales Management are correlated to pay that is above average. Those listing Media / Public Relations as a skill should be prepared for drastically lower pay. Marketing Communications and Web Marketing also typically command lower compensation. For most people, competency in New Business Development indicates knowledge of 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.
For many Marketing & Business Development Managers, more experience generally translates to higher pay. People who have worked for fewer than five years bring home $55K on average. Median compensation in the five-to-10 year group, however, is higher at approximately $68K. Marketing & Business Development Managers with one to two decades of relevant experience report an average salary of approximately $80K. Veterans who boast more than two decades of experience make around $102K on average — an ample six-figure paycheck.
Pay Difference by Location
Surpassing the national average by 48 percent, Marketing & Business Development Managers in Houston receive some of the highest pay in the country. Marketing & Business Development Managers can also look forward to large paychecks in cities like San Francisco (+39 percent), Atlanta (+26 percent), Dallas (+18 percent), and Seattle (+16 percent). Marketing & Business Development Managers in Chicago take home the lowest salaries, earning a whopping 21 percent less than the national average. Not at the bottom but still paying below the median are employers in Denver and Miami (20 percent lower and 19 percent lower, respectively).
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