Vice President (VP), Business Development Salary

Six-figure salaries are the norm for Business Development VPs in the United States, with median pay hovering around $126K per year. Final cash compensation to Business Development VPs varies from around $79K to approximately $232K; choice pay grades include potential for bonuses and profit sharing as high as $59K and $29K, respectively. Experience level is the biggest factor affecting pay for this group, followed by geography. Most Business Development VPs like their work and job satisfaction is high. Generally, women make up less than a third of all Business Development VPs who answered the questionnnaire. Medical benefits are awarded to most, and a strong majority earn dental coverage. Figures cited in this summary are based on replies to PayScale's salary questionnaire.

$72,195 - $195,620
(Median)
$72K
$130K
$200K
MEDIAN: $126,371
10%
50%
90%

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$17.23 - $90.91
(Median)
$17
$30
$91
MEDIAN: $30
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$80K$160K$240K
Salary
$72,195 - $195,620  
   
Bonus
$2,080 - $58,552  
Profit Sharing
$2.73 - $29,233  
Commission
$0.00 - $65,436  
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).
)
$79,454 - $232,119  
Country: United States | Currency: USD | Updated: 20 Jun 2015 | Individuals Reporting: 2,484
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$50$100$150
Hourly Rate
$17.23 - $90.91  
   
Overtime
$0.00 - $38.15  
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$100K$200K$300K
Bonus
$2,080 - $58,552  
   
Commission
$0.00 - $65,436  
Profit Sharing
$2.73 - $29,233  
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).
)
$79,454 - $232,119  
Country: United States | Currency: USD | Updated: 20 Jun 2015 | Individuals Reporting: 11
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Job Description for Vice President (VP), Business Development

One of the major responsibilities for vice presidents of business development is developing and executing company sales and marketing plans, including implementing new ideas and tools for the company. They provide direction and planning for the company and oversee the workings of the company. A vice president of business development must work closely with a team of salespeople, management and lower-level employees.

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Vice President (VP), Business Development Tasks

  • Oversee the formation of business partnerships and negotiation of contracts.
  • Manage business development and sales staff.
  • Lead company’s planning and execution of strategies to increase sales and company growth.

Common Career Paths for Vice President (VP), Business Development


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Though not the most common occurrence, Business Development VPs sometimes become Senior Vice Presidents of Sales, where the average income is $192K per year. Career advancement for the typical Business Development VP often leads to becoming a President or a Chief Executive Officer; median salaries in these positions are $1K higher and $17K higher, respectively.

Vice President (VP), Business Development Job Listings

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Popular Skills for Vice President (VP), Business Development


Business Development VPs seem to wield many skills on the job. Most notably, facility with Product Development, Strategic Planning, and Leadership are correlated to pay that is significantly above average, leading to increases of 21 percent, 14 percent, and 13 percent, respectively. Those listing Microsoft Office as a skill should be prepared for drastically lower pay. Customer Relationship Management and Sales also typically command lower compensation. Most people familiar with Sales also know Sales Management. Those proficient in Business Development are, more often than not, also skilled in New Business Development and Sales Management.

Pay by Experience Level for Vice President (VP), Business Development

Median of all compensation (including tips, bonus, and overtime) by years of experience.


Business Development VPs generally obtain higher compensation for more plentiful past experience. Six-figure salaries are not unusual for those just entering the occupation — survey respondents with less than five years' experience under their belts report receiving an average of $101K per year. Business Development VPs bring in $156K after working for 10 to 20 years. Business Development VPs with more than 20 years of experience report incomes that are only modestly higher; the median for these old hands hovers around $168K.

Pay Difference by Location


San Francisco is home to an above-average pay rate for Business Development VPs, 28 percent higher than the national average. Business Development VPs can also look forward to large paychecks in cities like Seattle (+26 percent), San Jose (+23 percent), Washington (+18 percent), and Houston (+16 percent). Denver is home to the smallest salaries in the field, lagging the national average by 6 percent.

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Experience Affects Vice President (VP), Business Development Salaries



National Average
$150,000



Skills That Affect Vice President (VP), Business Development Salaries

Product Development
up arrow 21%

Strategic Planning
up arrow 14%

Leadership
up arrow 13%



Business Development
up arrow 3%

New Business Development
up arrow 2%

National Average
$150,000

Contract Negotiation
up arrow 1%

Sales Management
up arrow 2%

Strategic Marketing
up arrow 3%



up arrow 16%


Microsoft Office
up arrow 21%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 400 votes.

Gender

Female
22 %
Male
78 %

Years of Experience

Less than 1 year
0%
1-4 years
6%
5-9 years
17%
10-19 years
42%
20 years or more
35%

Common Health Benefits

medical benefits Medical: 88% dental benefits Dental: 77%
vision benefits Vision: 63% employee benefits None: 10%
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