Regional Business Development Manager Salary
Regional Business Development Managers in the United States tend to have a good amount of experience under their belt — just below three-fifths have more than 10 years in the field. While pay runs from $51K to $139K per year, median earnings come to $81K annually. Overall compensation packages to Regional Business Development Managers range from $51K on the low end to $139K on the high end; this includes bonuses that peak near $30K and profit sharing that approaches $8K, with some high rollers snagging commissions as high as $55K. Geography is the biggest factor affecting pay for this group, followed by career length. Job satisfaction is high and work is enjoyable for most Regional Business Development Managers. Men make up a slight majority of Regional Business Development Managers (58 percent) who responded to the survey. Most report receiving medical coverage from their employers and a strong majority collect dental insurance. The figures in this rundown are based on the results of PayScale's salary questionnaire.
Job Description for Regional Business Development Manager
Regional business development managers conduct analyses of past, present, and future performance to create projections, planning, and growth models. Regional business development manager are often responsible for seeking potential business opportunities, which requires a good eye for detail, analysis, and judgment. The manager may also supervise, or interact with, teams in their organization such as marketing, research and development, and advertising.Read More...
Regional business development managers must have a thorough knowledge of their business and field. This job is primarily based in an office setting, although travel is often required to meet with clients and potential clients. Analytical ability is a must, both for the task of identifying new business opportunities and for presenting such opportunities to upper management. As this involves making pitches to management and to prospective clients, effective oral and written communication skills are essential
A bachelor's degree is frequently preferred for this position, with exceptions made for applicants with significant previous experience relevant to the position. In many cases, the regional business development manager must look for ongoing opportunities for continuing education.
Regional Business Development Manager Tasks
- Work within a region of a company's operation to evaluate opportunities for expansion.
- Represent the company in negotiations and contract finalization with business partners.
- Report the results of analyses, predictions for future business, and recommended action to upper management.
- Assess potential business partnerships to determine which options are of the most benefit to the company.
- Analyze data on past and present sales to make predictions about the best options for future growth.
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Popular Skills for Regional Business Development Manager
Regional Business Development Managers report using a pretty varied skill set on the job. Most notably, facility with Strategic Planning, Strategic Sales, and New Business Development are correlated to pay that is significantly above average, leading to increases of 26 percent, 11 percent, and 5 percent, respectively. At the other end of the pay range are skills like Operations Management. Most people familiar with Business Development also know Sales.
Pay by Experience Level for Regional Business Development Manager
Median of all compensation (including tips, bonus, and overtime) by years of experience.
Experience does not seem to be a strong driver of pay increase in this role. The median compensation for relatively untried workers is $72K; in the five-to-10 year group, it's higher at around $85K. Between 10 and 20 years, pay surpasses six figures; at this stage, the average professional scores around $101K. Regional Business Development Managers with more than 20 years of experience report incomes that are only modestly higher; the median for these old hands hovers around $106K.
Pay Difference by Location
For Regional Business Development Managers, working in the bustling city of Philadelphia has its advantages, including an above-average pay rate. Regional Business Development Managers can also look forward to large paychecks in cities like St. Louis (+30 percent), Chicago (+23 percent), Houston (+21 percent), and Miami (+21 percent). The lowest-paying market is Seattle, which sits 18 percent below the national average. Workers in New York and San Francisco earn less than others in this profession; their salaries fall short of the national average by 9 percent.
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