The average pay for a Business Development Specialist with New Business Development skills is $19.88 per hour.
The average pay for a Business Development Specialist with New Business Development skills is $63,827 per year.
|Salary||$38,230 - $73,252|
|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).)
|$38,809 - $80,537|
Job Description for Business Development Specialist
Business development specialists are responsible for creating effective business plans for their company. They are also in charge of analyzing business processes and identifying opportunities to generate additional revenue. They research industries to find purchase patterns and emerging trends to recommend changes for their organization. Business development specialists also assess potential clients and provide development support, as well as act as a facilitator between executives and external contracting sources. They process large amounts of company data to make predictions and create detailed reports. Another of the specialist's main duties includes recommending changes to supply chain management as necessary. They also help implement growth strategies, participate in business meetings, and recommend changes to existing business practices to increase exposure and revenue. Business development specialists also assist with budget development and provide support for existing initiatives.Read More...
A bachelor's degree in business management, development, or a related field is generally the minimum educational requirement for this position. Experience in business development may be required or preferred as well. Business development specialists must be results oriented and have excellent written and oral communication skills to interact with other teams in their organization and create strong business relationships with external partners. They should be able to work independently with minimal supervision, but also work well in a team environment with other specialists. Business development specialists must have strong analytical skills and be well organized. (Copyright 2018 PayScale.com)
Business Development Specialist Tasks
- Quantifies business intelligence with economic models to evaluate new opportunities; presents findings clearly and makes recommendations for action.
- Assists with core business development activities, such as generating pitch decks and communicating with clients and competitors to better understand business trends.
- Seeks out new market insights and business opportunities through research and analysis.
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