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Vice President (VP), Business Development Salary

Salaries for Business Development VPs in the United States are generous, with average pay above six figures ($150K) per year. Cash earnings for Business Development VPs — which occasionally include more than $58K from bonuses and more than $39K from profit sharing — stretch from around $80K to approximately $232K. Experience level is the biggest factor affecting pay for this group, followed by geography. Making up 79 percent of those who took the survey, male Business Development VPs greatly outnumber their female counterparts. For the most part, Business Development VPs enjoy their work and report high levels of job satisfaction. Most report receiving medical coverage from their employers and a strong majority collect dental insurance. This report is based on responses to the PayScale salary survey.
$71,980 - $192,382
(Median)
72K
95K
130K
160K
190K
MEDIAN: $126,128
10%
25%
50%
75%
90%

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$17.36 - $88.08
(Median)
17
30
40
88
MEDIAN: $29.00
10%
50%
75%
90%

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Show Annual Salary Show Hourly Rate

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
$71,980 - $192,382  
   
Bonus
$2,936 - $58,377  
Profit Sharing
$1,510 - $38,808  
Commission
$0.00 - $62,044  
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).
)
$79,738 - $231,599  
Country: United States | Currency: USD | Updated: 11 Dec 2014 | Individuals Reporting: 2,420
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
$17.36 - $88.08  
   
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
$2,936 - $58,377  
   
Commission
$0.00 - $62,044  
Profit Sharing
$1,510 - $38,808  
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).
)
$79,738 - $231,599  
Country: United States | Currency: USD | Updated: 11 Dec 2014 | Individuals Reporting: 12
United States (change)

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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It's not very common for Business Development VPs to move on to become Senior Vice Presidents of Sales. Average pay for a Senior Vice President of Sales is $191K annually. Business Development VPs moving up in their careers tend to step into positions as Presidents or Chief Executive Officers. The median paychecks in those roles are $2K 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 Leadership, Product Development, and People Management are correlated to pay that is significantly above average, leading to increases of 22 percent, 21 percent, and 12 percent, respectively. Those listing Microsoft Office as a skill should be prepared for drastically lower pay. Sales and Customer Relationship Management also typically command lower compensation. Those proficient in Business Development are, more often than not, also skilled in New Business Development, Sales Management, and Contract Negotiation. A tool kit that includes Sales also typically contains 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 who reported more years of relevant experience also reported higher earnings. Individuals with less than five years' experience take home around $100K. In contrast, though, people who have been on the job for five to 10 years report a six-figure median of $132K. For Business Development VPs, 10 to 20 years of experience on the job amounts to an average salary of $156K. Individuals who have achieved more than 20 years of experience don't seem to earn much more than people who have 10 to 20 years under their belts; the more senior group reports an average income of $169K.

Pay Difference by Location


For Business Development VPs, San Francisco provides a pay rate that is 24 percent greater than the national average. Business Development VPs can also look forward to large paychecks in cities like San Jose (+24 percent), Washington (+21 percent), Seattle (+17 percent), and Houston (+13 percent). Business Development VPs' salaries are heavily influenced by location — Business Development VPs in Minneapolis bring in salaries that are 20 percent lower than the national average.

Related Job Salaries

Experience Affects Vice President (VP), Business Development Salaries



National Average
$150,000



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

Leadership
up arrow 22%

Product Development
up arrow 21%


Strategic Planning
up arrow 11%




New Business Development
up arrow 3%

National Average
$150,000

Sales Management
up arrow 3%



Technical Sales
up arrow 14%

up arrow 17%


Microsoft Office
up arrow 21%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 510 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%