Vice President (VP), Business Development Salary

Business Development VPs receive generous compensation in the United States — earning an average of $127K per year, their standard salaries shoot well into the six-figure range. In the world of Business Development VPs, total cash compensation can vary between $80K and $233K. Each package generally includes bonuses and profit sharing proceeds, and in exceptional cases, those amounts can reach heights of $59K and $30K, respectively. Location is the biggest factor affecting pay for this group, followed by experience level. Most Business Development VPs like their work and job satisfaction is high. Medical benefits are awarded to most, and a strong majority earn dental coverage. Making up 79 percent of those who took the survey, male Business Development VPs greatly outnumber their female counterparts. This snapshot results from replies to PayScale's salary survey.

$72,649 - $194,832
(Median)
$73K
$130K
$190K
MEDIAN: $126,561
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
$72,649 - $194,832  
   
Bonus
$2,558 - $59,179  
Profit Sharing
$992 - $30,410  
Commission
$0.00 - $69,043  
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).
)
$79,930 - $233,243  
Country: United States | Currency: USD | Updated: 1 Apr 2015 | Individuals Reporting: 2,448
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 - $49.25  
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
$2,558 - $59,179  
   
Commission
$0.00 - $69,043  
Profit Sharing
$992 - $30,410  
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).
)
$79,930 - $233,243  
Country: United States | Currency: USD | Updated: 1 Apr 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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While not commonly seen, Business Development VPs who transition into a Senior Vice President of Sales position may see a rise in pay. The median salary for Senior Vice Presidents of Sales is $192K per year. When Business Development VPs are ready for the next step in their careers, they often become Presidents or Chief Executive Officers. Those roles pay an additional $1K and $17K, respectively.

Vice President (VP), Business Development Job Listings

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Popular Skills for Vice President (VP), Business Development


Survey respondents exploit a significant toolbox of skills in their work. Most notably, facility with Product Development, Leadership, and Strategic Planning are correlated to pay that is significantly above average, leading to increases of 23 percent, 18 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. Those proficient in Sales are, more often than not, also skilled in Sales Management. Those proficient in Business Development are, more often than not, also skilled in New Business Development, Sales Management, and Contract Negotiation.

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. Large paychecks, which sit comfortably in the six-figure range, are handed out almost immediately; professionals who have less than five years' experience report earning a median of $102K per year. Business Development VPs bring in $156K after working for 10 to 20 years. Respondents who claim more than 20 years of experience may encounter pay that doesn't quite reflect their extensive experience; these veterans report a median income of around $170K.

Pay Difference by Location


With a pay rate for Business Development VPs that is 29 percent greater than the national average, San Francisco offers a comfortable salary for those in this profession. Business Development VPs can also look forward to large paychecks in cities like Seattle (+22 percent), San Jose (+20 percent), Washington (+18 percent), and Houston (+13 percent). Minneapolis is home to the smallest salaries in the field, lagging the national average by 20 percent.

Related Job Salaries

United States (change)

Experience Affects Vice President (VP), Business Development Salaries



National Average
$151,000



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

Product Development
up arrow 23%

Leadership
up arrow 18%

Strategic Planning
up arrow 13%



Business Development
up arrow 4%

New Business Development
up arrow 2%

Contract Negotiation
up arrow 1%

National Average
$151,000

Sales Management
up arrow 2%

Strategic Marketing
up arrow 3%



up arrow 19%


Microsoft Office
up arrow 21%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 459 votes.

Gender

Female
21 %
Male
79 %

Years of Experience

Less than 1 year
0%
1-4 years
6%
5-9 years
16%
10-19 years
43%
20 years or more
35%

Common Health Benefits

medical benefits Medical: 88% dental benefits Dental: 77%
vision benefits Vision: 62% employee benefits None: 10%