The average pay for a Business Development Director is $24.47 per hour.
The average pay for a Business Development Director is $103,229 per year.
Job Description for Business Development Director
Business development directors can have a varied range of tasks pertaining to a company's overall business development. The responsibilities held are often higher up the corporate ladder than those of sales or operations managers, and therefore more intensive. Business development directors often answer directly to the owner of a company, board of directors, and/or to shareholders. Many of the tasks involved are mental in nature. Some include developing the necessary strategies for successful operations throughout the business. These can include fine tuning departmental tasks, aligning the IT department, figuring out how to market a company's goods or services to a wider market, negotiating with suppliers, understanding any legal matters that may arise in the course of business, managing sales, understanding the financial needs of the business, and coordinating all of these areas into cohesive action plans for the business as a whole. The job is usually done during the day and in an office environment. Some responsibilities can go into off hours and may be completed from home, but a majority will take place Monday through Friday. Typical work weeks for this position are at the forty hour mark and above. Many business development directors hold degrees in business administration. Many who have a business management degree in this kind of position it have concentrated their degrees in areas like accounting, macroeconomics, management theory, business law and/or information systems. A degree may not always be required, but it can be very helpful. Employers often chose applicants with master's degrees in business over applicants with bachelor's degrees. (Copyright 2019 PayScale.com)
- Develop, coordinate, and implement sales and marketing plans to meet company growth objectives.
- Attend meetings with and give sales presentations to current and potential clients.
- Manage the sales process and establish relationships with clients.
- Research new clients and negotiate contracts.
Popular Employer Salaries for Business Development Director
Raytheon Co. offers the highest compensation with a median salary of $242K.
Common Career Paths for Business Development Director
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Though some Business Development Directors move into positions like Chief Executive Officer (where the average salary is $170K), this progression is not the norm. With an annual salary of $147K, Business Development VP is the most common role for Business Development Directors to subsequently assume on their way up the ladder. Transitioning into an Executive Director role — which usually pays $75K — is also typical for Business Development Directors, though less common by comparison.
Business Development Director Job Listings
Popular Skills for Business Development Director
Survey results imply that Business Development Directors deploy a deep pool of skills on the job. Most notably, skills in Strategic Sales, Negotiation, Contract Negotiation, and Strategic Planning are correlated to pay that is above average, with boosts between 6 percent and 8 percent. Those listing Marketing Communications as a skill should be prepared for drastically lower pay. Marketing Management and Sales also typically command lower compensation. It is often found that people who know New Business Development are also skilled in Customer Relationship Management (CRM), Contract Negotiation, and Account Management.
Pay by Experience Level for Business Development Director
Pay by Experience for a Business Development Director has a positive trend. An entry-level Business Development Director with less than 5 years of experience can expect to earn an average total compensation of $81,000 based on 660 salaries provided by anonymous users. Average total compensation includes tips, bonus, and overtime pay. A Business Development Director with mid-career experience which includes employees with 5 to 10 years of experience can expect to earn an average total compensation of $104,000 based on 965 salaries. An experienced Business Development Director which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of $131,000 based on 1,323 salaries. A Business Development Director with late-career experience which includes employees with greater than 20 years of experience can expect to earn an average total compensation of $142,000 based on 657 salaries.
Pay Difference by Location
With a pay rate for Business Development Directors that is 32 percent greater than the national average, San Francisco offers a comfortable salary for those in this profession. Business Development Directors will also find cushy salaries in Houston (+29 percent), Boston (+21 percent), San Diego (+21 percent), and Washington (+19 percent). Compared to the national average, Austin Business Development Directors have considerably lower salaries, 26 percent below the national average to be exact. Location appears to be a major driving force in pay for those in this profession.
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Key Stats for Business Development Director
Gender
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Female
37 % |
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Male
63 % |
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Job Satisfaction
| Extremely satisfied |
Rated 5 out of 5 based on 879 votes. |
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