Vice President (VP), Business Development Salary

Average pay for Business Development VPs in the United States is more than reasonable, with annual salaries pushing past the six-figure mark ($127K). Cash earnings of Business Development VPs — including $59K in bonuses, $29K in profit sharing proceeds, and $66K in commissions near the top of the pay scale — stretch from approximately $79K to approximately $234K depending on individual performance. Career length is the biggest factor affecting pay for this group, followed by geography. Most enjoy medical while a strong majority get dental coverage. Vision coverage is also available to a majority. The majority of Business Development VPs claim high levels of job satisfaction. Generally, women make up less than a third of all Business Development VPs who answered the questionnnaire. The figures in this overview were provided by individuals who took PayScale's salary questionnaire.

$71,900 - $196,045

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$17.52 - $96.96

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National Salary Data (?
XAll compensation data shown are gross 10th to 90th percentile ranges. Take the PayScale Survey to find out how location influences pay for this job.
)
$0$80K$160K$240K
Salary
$71,900 - $196,045  
   
Bonus
$2,397 - $58,792  
Profit Sharing
$1.86 - $29,299  
Commission
$0.00 - $65,889  
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).
)
$78,962 - $233,536  
Country: United States | Currency: USD | Updated: 18 Jul 2015 | Individuals Reporting: 2,502
National Hourly Rate Data (?
XAll compensation data shown are gross 10th to 90th percentile ranges. Take the PayScale Survey to find out how location influences pay for this job.
)
$0$50$100$150
Hourly Rate
$17.52 - $96.96  
   
Overtime
$0.00 - $37.50  
National Annualized Data (?
XAll compensation data shown are gross 10th to 90th percentile ranges. Take the PayScale Survey to find out how location influences pay for this job.
)
$0$100K$200K$300K
Bonus
$2,397 - $58,792  
   
Commission
$0.00 - $65,889  
Profit Sharing
$1.86 - $29,299  
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).
)
$78,962 - $233,536  
Country: United States | Currency: USD | Updated: 18 Jul 2015 | Individuals Reporting: 13
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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 some Business Development VPs move into positions like Senior Vice President of Sales (where the average salary is $190K), this progression is not the norm. A common career progression for a Business Development VP is to become a President or a Chief Executive Officer. Compared to Business Development VPs, the first group earns $1K more on average, and the second group earns $17K more.

Vice President (VP), Business Development Job Listings

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Popular Skills for Vice President (VP), Business Development


Survey results imply that Business Development VPs deploy a deep pool of skills on the job. Most notably, facility with Product Development, Strategic Planning, and People Management are correlated to pay that is significantly above average, leading to increases of 24 percent, 17 percent, and 10 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 Business Development also know New Business Development and Sales Management. Most people experienced in Sales also know 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.


Experience is an important factor influencing the compensation of Business Development VPs. Even the relatively untested can earn a lot; individuals who have been working for fewer than five years report a median six-figure salary of $101K per year. Business Development VPs bring in $157K after working for 10 to 20 years. Folks who have racked up more than 20 years in the field report incomes that aren't that much higher than less experienced individuals' earnings; the veterans make just $168K on average.

Pay Difference by Location


For those looking to make money, Business Development VPs in San Francisco enjoy an exceptional pay rate, 28 percent above the national average. Business Development VPs can also look forward to large paychecks in cities like San Jose (+24 percent), Seattle (+22 percent), Washington (+18 percent), and Houston (+16 percent). Falling short of the national average by 7 percent, the area with the worst salaries is Denver.

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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 24%

Strategic Planning
up arrow 17%


Negotiation
up arrow 8%


Business Development
up arrow 2%

New Business Development
up arrow 1%

Contract Negotiation
up arrow 1%

National Average
$150,000

Sales Management
up arrow 1%




up arrow 16%


Microsoft Office
up arrow 21%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 380 votes.

Gender

Female
21 %
Male
79 %

Years of Experience

Less than 1 year
0%
1-4 years
7%
5-9 years
17%
10-19 years
41%
20 years or more
35%

Common Health Benefits

medical benefits Medical: 87% dental benefits Dental: 76%
vision benefits Vision: 63% employee benefits None: 10%
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