Explore jobs
Find specific jobs
Explore careers
Explore professions
Best companies
Explore companies
The differences between business development managers and market development managers can be seen in a few details. Each job has different responsibilities and duties. It typically takes 8-10 years to become both a business development manager and a market development manager. Additionally, a market development manager has an average salary of $111,159, which is higher than the $100,769 average annual salary of a business development manager.
The top three skills for a business development manager include customer service, CRM and healthcare. The most important skills for a market development manager are digital marketing, market development, and competitor analysis.
| Business Development Manager | Market Development Manager | |
| Yearly salary | $100,769 | $111,159 |
| Hourly rate | $48.45 | $53.44 |
| Growth rate | 10% | 10% |
| Number of jobs | 215,309 | 173,901 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 74% | Bachelor's Degree, 76% |
| Average age | 39 | 39 |
| Years of experience | 10 | 10 |
A business development manager's duties include identifying business opportunities, developing effective models and strategies to improve business performance, searching for potential clients to generate income and attract partnerships. A business development manager must have extensive knowledge of the market trends and adjust strategies as needed to meet the needs of the client. Excellent communication, decision-making, critical thinking, and leadership skills are just some of the key factors that business development managers should possess to communicate and negotiate with the clients.
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. They are also in charge of creating training programs for new employees, managing the budget, and supervising marketing initiatives. Furthermore, as a manager, it is essential to lead and encourage teams to reach goals and optimal performance, all while implementing the company's policies and regulations.
Business development managers and market development managers have different pay scales, as shown below.
| Business Development Manager | Market Development Manager | |
| Average salary | $100,769 | $111,159 |
| Salary range | Between $67,000 And $151,000 | Between $74,000 And $165,000 |
| Highest paying City | San Francisco, CA | San Francisco, CA |
| Highest paying state | California | Maryland |
| Best paying company | Shearman & Sterling | Apple |
| Best paying industry | Finance | Technology |
There are a few differences between a business development manager and a market development manager in terms of educational background:
| Business Development Manager | Market Development Manager | |
| Most common degree | Bachelor's Degree, 74% | Bachelor's Degree, 76% |
| Most common major | Business | Business |
| Most common college | University of Georgia | University of Georgia |
Here are the differences between business development managers' and market development managers' demographics:
| Business Development Manager | Market Development Manager | |
| Average age | 39 | 39 |
| Gender ratio | Male, 68.6% Female, 31.4% | Male, 70.0% Female, 30.0% |
| Race ratio | Black or African American, 3.0% Unknown, 5.3% Hispanic or Latino, 8.7% Asian, 8.2% White, 74.6% American Indian and Alaska Native, 0.2% | Black or African American, 3.0% Unknown, 5.3% Hispanic or Latino, 8.7% Asian, 8.2% White, 74.6% American Indian and Alaska Native, 0.2% |
| LGBT Percentage | 10% | 10% |