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The differences between business development managers and vice presidents, business development can be seen in a few details. Each job has different responsibilities and duties. While it typically takes 8-10 years to become a business development manager, becoming a vice president, business development takes usually requires More than 10 years. Additionally, a vice president, business development has an average salary of $165,159, 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 vice president, business development are healthcare, business strategy, and revenue growth.
| Business Development Manager | Vice President, Business Development | |
| Yearly salary | $100,769 | $165,159 |
| Hourly rate | $48.45 | $79.40 |
| Growth rate | 10% | 6% |
| Number of jobs | 215,309 | 188,137 |
| Job satisfaction | - | 5 |
| Most common degree | Bachelor's Degree, 74% | Bachelor's Degree, 73% |
| Average age | 39 | 52 |
| Years of experience | 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 vice president of business development is an individual who leads in the execution of business plans and provides new business strategies for an organization. Vice presidents of business development closely work with a team of salespeople, management, and lower-level employees to secure contracts with new customers and manage ongoing agreements. They often travel to participate in business conferences and meetings with vendors and suppliers. Vice presidents of business development must also possess a bachelor's degree in business administration or marketing.
Business development managers and vice presidents, business development have different pay scales, as shown below.
| Business Development Manager | Vice President, Business Development | |
| Average salary | $100,769 | $165,159 |
| Salary range | Between $67,000 And $151,000 | Between $104,000 And $262,000 |
| Highest paying City | San Francisco, CA | Seattle, WA |
| Highest paying state | California | Washington |
| Best paying company | Shearman & Sterling | Fanatics |
| Best paying industry | Finance | Manufacturing |
There are a few differences between a business development manager and a vice president, business development in terms of educational background:
| Business Development Manager | Vice President, Business Development | |
| Most common degree | Bachelor's Degree, 74% | Bachelor's Degree, 73% |
| Most common major | Business | Business |
| Most common college | University of Georgia | University of Pennsylvania |
Here are the differences between business development managers' and vice presidents, business development' demographics:
| Business Development Manager | Vice President, Business Development | |
| Average age | 39 | 52 |
| Gender ratio | Male, 68.6% Female, 31.4% | Male, 81.3% Female, 18.7% |
| 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, 3.8% Unknown, 3.9% Hispanic or Latino, 7.9% Asian, 7.7% White, 76.1% American Indian and Alaska Native, 0.6% |
| LGBT Percentage | 10% | 12% |