The following article discusses the career path of Business Development Manager. Learn about how to become one, education requirements, job duties, traits and qualities, national salary outlook as well as top national employers of Business Development Managers.
Business development managers are responsible for developing proper business solutions and managing realistic expectations for the organization. They create business plans that effectively increase revenue, improve customer satisfaction, and increase brand loyalty. As such, their work is closely related to that of advertising and marketing managers.
Business development managers work closely with other staff in order to properly define projects, determine what the requirements are, and ensure time frames are agreed upon. They network with other managers in order to determine the progress that has been made. They are strong leaders who can effectively motivate others and they are innovative thinkers.
These managers hold responsibility for making sales objectives and managing accounts. They must hold strong written and oral communication skills and are proficient in office applications. They work with spreadsheets, write reports and proposals, and hold presentations. They also perform research and evaluation of different projects and products, while also investigating the competition. Furthermore, they have take a statistical look on the progress made.
Other job duties of business development managers are:
- To ensure revenue goals are met
- To put excellent working relationships in place with clients, thereby retaining them and encouraging client growth through references and referrals
- To find new sources of clients, relationships, and referral systems
- To find new prospects through strategic approaches in sales and customer retention
Where We Work
According to the U.S. Bureau of Labor Statistics, there were 31,300 advertising and promotions managers in 2016. The largest employers of these professionals are:
- Advertising, public relations, and related services: 34%
- Information: 12%
- Management of companies and enterprises: 7%
- Wholesale trade: 6%
- Retail trade: 6%
The U.S. Bureau of Labor Statistics also reported that there were some 218,300 marketing managers in 2016. The largest employers of these professionals are:
- Professional, scientific, and technical services: 22%
- Management of companies and enterprises: 16%
- Manufacturing: 12%
- Finance and insurance: 10%
- Wholesale trade: 8%
How to Become
Generally, business development managers have a bachelor’s degree in a field, such as administration, business management, or a related field. Furthermore, it is expected that these managers have a number of years of work experience in a field related to business development management. Those with certificates in business leadership have the best prospects.
It is expected that a business development manager has a bachelor’s degree as a minimum and those who have certifications in certain fields of business leadership and management are preferred. However, perhaps of even greater importance is the level of experience. Most managers grow from entry level positions through internal promotions.
Suggested degrees required:
- Leadership Management Degree
- Business Administration Degree
- Business Finance Degree
- Business Management Degree
Traits & Qualities
The most effective business development managers have the following traits to some degree or other:
- Excellent sales skills
- Strategic thinking skills
- Planning and organization skills
- Communication skills, both oral and written
- Leadership skills, being able to motivate others
- Innovative thinking
- Computer proficiency
The national average salary estimate for Business Development Manager was $75,226. This number is estimated from over 6,083,924 employees, users past and present job advertisements from Indeed.com. This equates to an hourly salary of $39.18 and monthly of $6,269.
- Most Reported
Salary by State
The following section lists Business Development Manager salaries in each state around the country. The figures are based on the total number of job postings through Indeed.com. For example, DC had the largest quoted salary of $85,926 while West Virginia had the smallest quoted salary of $54,472.
Top 20 National Employers
According to Indeed.com, the following states had employers looking to hire a Business Development Manager. The quoted salary figure represents the average salary from all job postings by this employer.
|Employer Name||Location||Average Salary|
|: Honesty Group||South Carolina||$245,411|
|A Neumann & Associates, LLC||Connecticut||$202,765|
|Picsolve International Ltd||Florida||$200,000|
|The Premier Partners||Colorado||$173,185|
|FCR – Federal Consulting Resources, LLC||Virginia||$173,055|
|SoundGuard – SoundGuardProducts.com||Florida||$150,000|
|Career Name||Average Salary|
|Real Estate Manager||$76,119|
|Information Technology Specialist||$73,668|
|Health Information Management Manager||$72,216|