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Business development lead hiring summary. Here are some key points about hiring business development leads in the United States:
Here's a step-by-step business development lead hiring guide:
Business Development Leads oversee the continuous pursuit of growth opportunities for the company. They should be familiar with current industry trends and economic news. They should also be familiar with the business performance to identify areas for improvement and development. They should know the company's target market to help create marketing campaigns. Business development leads may also be asked to create product innovations that would cater to their target market's needs. They are expected to spearhead programs that aim to attract new clients and retain existing ones.
The business development lead hiring process starts by determining what type of worker you actually need. Certain roles might require a full-time employee, whereas part-time workers or contractors can do others.
A business development lead's background is also an important factor in determining whether they'll be a good fit for the position. For example, business development leads from different industries or fields will have radically different experiences and will bring different viewpoints to the role. You also need to consider the candidate's previous level of experience to make sure they'll be comfortable with the job's level of seniority.
Here's a comparison of business development lead salaries for various roles:
| Type of Business Development Lead | Description | Hourly rate |
|---|---|---|
| Business Development Lead | Advertising, promotions, and marketing managers plan programs to generate interest in products or services. They work with art directors, sales agents, and financial staff members. | $40-80 |
| Business Partner | A business partner is an individual who is involved in a legal business partnership with other individuals to manage a business as co-owners. Business partners invest their money into the business, and each partner benefits from any profits and sustains part of any losses... Show more | $31-67 |
| Market Development Manager | A market development manager is in charge of overseeing marketing operations, ensuring efficiency and smooth workflow. Their responsibilities revolve around assessing existing projects and programs, identifying areas needing improvement, devising strategies to find new opportunities, and coordinating with different departments to ensure profitable growth and a strong client base... Show more | $35-79 |
Including a salary range in the business development lead job description is a good way to get more applicants. A business development lead salary can be affected by several factors, such as the location of the job, the level of experience, education, certifications, and the employer's prestige.
For example, the average salary for a business development lead in Alabama may be lower than in California, and an entry-level engineer typically earns less than a senior-level business development lead. Additionally, a business development lead with lots of experience in the field may command a higher salary as a result.
| Rank | State | Avg. salary | Hourly rate |
|---|---|---|---|
| 1 | California | $150,452 | $72 |
| 2 | Massachusetts | $138,566 | $67 |
| 3 | Oregon | $136,465 | $66 |
| 4 | Washington | $136,384 | $66 |
| 5 | Arizona | $131,912 | $63 |
| 6 | Virginia | $128,653 | $62 |
| 7 | Missouri | $121,301 | $58 |
| 8 | Michigan | $119,858 | $58 |
| 9 | Pennsylvania | $118,918 | $57 |
| 10 | Illinois | $117,206 | $56 |
| 11 | Maine | $115,535 | $56 |
| 12 | North Carolina | $115,529 | $56 |
| 13 | Minnesota | $115,477 | $56 |
| 14 | New York | $113,916 | $55 |
| 15 | Maryland | $111,904 | $54 |
| 16 | Texas | $111,295 | $54 |
| 17 | Utah | $107,908 | $52 |
| 18 | District of Columbia | $104,473 | $50 |
| 19 | Indiana | $103,216 | $50 |
| 20 | Ohio | $103,171 | $50 |
| Rank | Company | Average salary | Hourly rate | Job openings |
|---|---|---|---|---|
| 1 | Apple | $162,127 | $77.95 | 23 |
| 2 | Airbnb | $160,120 | $76.98 | |
| 3 | Meta | $159,420 | $76.64 | 255 |
| 4 | Genentech | $158,201 | $76.06 | 9 |
| 5 | $157,133 | $75.54 | 103 | |
| 6 | Saatchi & Saatchi Advertising Worldwide Inc | $146,692 | $70.53 | |
| 7 | Coursera | $146,544 | $70.45 | |
| 8 | Chegg | $146,129 | $70.25 | |
| 9 | Goldman Sachs | $145,655 | $70.03 | 2 |
| 10 | Citi | $145,217 | $69.82 | 32 |
| 11 | Cloudflare | $145,155 | $69.79 | 33 |
| 12 | Ernst & Young | $143,350 | $68.92 | 576 |
| 13 | Corning Incorporated | $142,613 | $68.56 | 32 |
| 14 | Squarespace | $140,830 | $67.71 | 2 |
| 15 | Duolingo | $139,806 | $67.21 | 2 |
| 16 | Amazon | $138,979 | $66.82 | 622 |
| 17 | RH | $138,218 | $66.45 | 2 |
| 18 | Idaho Power | $138,029 | $66.36 | |
| 19 | AECOM | $137,513 | $66.11 | 26 |
| 20 | ViacomCBS | $136,722 | $65.73 |
A job description for a business development lead role includes a summary of the job's main responsibilities, required skills, and preferred background experience. Including a salary range can also go a long way in attracting more candidates to apply, and showing the first name of the hiring manager can also make applicants more comfortable. As an example, here's a business development lead job description:
To find business development leads for your business, try out a few different recruiting strategies:
During your first interview to recruit business development leads, engage with candidates to learn about their interest in the role and experience in the field. During the following interview, you'll be able to go into more detail about the company, the position, and the responsibilities.
It's also good to ask about candidates' unique skills and talents. You can move on to the technical interview if a candidate is good enough for the next step.
The right interview questions can help you assess a candidate's hard skills, behavioral intelligence, and soft skills.
Once you've selected the best business development lead candidate for the job, it's time to write an offer letter. In addition to salary, this letter should include details about the benefits and perks you offer the candidate. Ensuring that your offer is competitive is essential, as qualified candidates may be considering other job opportunities. The candidate may wish to negotiate the terms of the offer, and you should be open to discussion. After you reach an agreement, the final step is formalizing the agreement with a contract.
It's also important to follow up with applicants who do not get the job with an email letting them know that the position is filled.
After that, you can create an onboarding schedule for a new business development lead. Human Resources and the hiring manager should complete Employee Action Forms. Human Resources should also ensure that onboarding paperwork is completed, including I-9s, benefits enrollment, federal and state tax forms, etc., and that new employee files are created.
Hiring a business development lead comes with both the one-time cost per hire and ongoing costs. The cost of recruiting business development leads involves promoting the job and spending time conducting interviews. Ongoing costs include employee salary, training, benefits, insurance, and equipment. It is essential to consider the cost of business development lead recruiting as well the ongoing costs of maintaining the new employee.
You can expect to pay around $118,868 per year for a business development lead, as this is the median yearly salary nationally. This can vary depending on what state or city you're hiring in. If you're hiring for contract work or on a per-project basis, hourly rates for business development leads in the US typically range between $40 and $80 an hour.