Vice President (VP), Business Development Salary

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.

Vice presidents of development must secure contracts with new customers, as well as manage ongoing contracts. They also write proposals for new and existing clients, identify and set company goals, and create plans to achieve goals. Vice presidents of development must develop and maintain a network of contacts within and outside of the company. These professionals generally work a standard 40-hour week during business hours in an office setting, although they may travel for business occasionally.

Vice presidents of development typically are required to have a bachelor’s degree in a relevant field such as business administration or marketing; an MBA is preferable. Several years of management experience is preferred. Vice presidents of development also must be collaborative individuals with strong interpersonal skills. They must be motivated, ambitious and possess exceptional communication skills, both written and verbal. Strong negotiation skills are also required, and they must be analytical problem solvers. They must have demonstrated leadership ability and a well-rounded knowledge of the company in order to effectively carry out their duties. (Copyright 2017 PayScale.com)

Vice President (VP), Business Development Tasks

• Oversee the formation of business partnerships and negotiation of contracts.
• Lead company's planning and execution of strategies to increase sales and company growth.
• Manage business development and sales staff.

San Francisco offers some of the highest pay in the country for Business Development VPs, 44 percent above the national average. Business Development VPs will also find cushy salaries in San Jose (+40 percent), Boston (+19 percent), Philadelphia (+18 percent), and Seattle (+16 percent). Those in the field find the lowest salaries in San Diego, 13 percent below the national average. Two other places where employers offer below-median salaries are Denver (11 percent less) and Atlanta (3 percent less).