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.

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Business Development Manager Responsibilities

Here are examples of responsibilities from real business development manager resumes representing typical tasks they are likely to perform in their roles.

  • Manage Seo of websites and campaigns.
  • Manage the provisioning and implementation of the cloud solutions for different customers.
  • Lead worldwide development for high traffic facilities; markets include Americas, Europe, Asia-Pacific.
  • Manage the global support team and are responsible for cost reduction for the UK ready meals facility.
  • Assist in leading a team of BDM's to achieve revenue, attrition, and value add service goals.
  • Leverage in-depth knowledge of complex manage security solutions as well as extensive technical knowledge of security hardware and software.
  • Plan outreach programs, create PowerPoint business plan for beta soft launch presentations.
  • Restructure solutions with new marketing strategy and elements, highlighting competitive advantages and value proposition for collaborators and patients.
  • Direct all large merchant sales and business development activities for FinTech startup.
  • Develop PowerPoint base stories, training bulletins, and articles for internal and external publication.
  • Envision various cloud base solutions in areas such as mobility, collaboration, operations, delivery, etc.
  • Act as SBA specialist for retail banking footprint, primarily interacting with branch managers and business development officers.
  • Partner with the field BDM where applicable, and participate in strategic planning and prioritizing of each other's sales activities.
  • Experience in selling to the industrial, lawn and garden, automotive, aerospace, medical, distribution and electronics industries.
  • Develop, customize and implement new customer relationship management database (CRM).

Business Development Manager Job Description

Perhaps the hardest question to answer when deciding on a career as a business development manager is "should I become a business development manager?" You might find this info to be helpful. When compared to other jobs, business development manager careers are projected to have a growth rate described as "faster than average" at 8% from 2018 through 2028. This is in accordance with the Bureau of Labor Statistics. What's more, is that the projected number of opportunities that are predicted to become available for a business development manager by 2028 is 21,800.

A business development manager annual salary averages $100,769, which breaks down to $48.45 an hour. However, business development managers can earn anywhere from upwards of $67,000 to $151,000 a year. This means that the top-earning business development managers make $85,000 more than the lowest-earning ones.

As is the case with most jobs, it takes work to become a business development manager. Sometimes people change their minds about their career after working in the profession. That's why we looked into some other professions that might help you find your next opportunity. These professions include a director of sales & business development, business to business sales manager, vice president, business development, and director new business development.

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Business Development Manager Skills and Personality Traits

We calculated that 8% of Business Development Managers are proficient in Customer Service, CRM, and Healthcare. They’re also known for soft skills such as Customer-service skills, Analytical skills, and Creativity.

We break down the percentage of Business Development Managers that have these skills listed on their resume here:

  • Customer Service, 8%

    Defined customer service vision by establishing and maintaining excellent client relationships to ensure client referrals and existing customer service upgrades.

  • CRM, 7%

    Developed and conducted a MicroStrategy CRM application to replace an in-house CRM application for Coca- Cola national distribution in Atlanta.

  • Healthcare, 5%

    Develop strategic alliances with local banks, HealthCare Agencies, CPA and LLC firms.

  • Business Relationships, 4%

    Developed and maintained FAA customer business relationships in domestic and/or international markets; identified and developed opportunities for CACI business expansion.

  • Customer Relationships, 3%

    Cultivate valuable customer relationships while providing all potential options regarding financing, design, permits strategy, construction and operation guidelines.

  • Project Management, 3%

    Supervised project management and information technology infrastructure projects implementation.

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Some of the skills we found on business development manager resumes included "customer service," "crm," and "healthcare." We have detailed the most important business development manager responsibilities below.

  • Another trait important for fulfilling business development manager duties is analytical skills. According to a business development manager resume, "advertising, promotions, and marketing managers must be able to analyze industry trends to determine the most promising strategies for their organization." Here's an example of how business development managers are able to utilize analytical skills: "analyzed monthly sales to identify product lines that needed additional promotion to maximize profits. "
  • Another skill that is quite popular among business development managers is creativity. This skill is very critical to fulfilling every day responsibilities as is shown in this example from a business development manager resume: "advertising, promotions, and marketing managers must be able to generate new and imaginative ideas." This example from a resume shows how this skill is used: "managed inventory of multiple product lines, with 14 sku's, including 4 nationally branded products. "
  • A business development manager responsibilities sometimes require "interpersonal skills." The responsibilities that rely on this skills are shown by this resume excerpt: "managers must deal with a range of people in different roles, both inside and outside the organization." This resume example shows how this skill is used by business development managers: "leveraged stellar interpersonal skills and persistent work ethic to connect with key decision makers and influence staffing choices. "
  • Another common skill for a business development manager to be able to utilize is "organizational skills." Advertising, promotions, and marketing managers must manage their time and budget efficiently while directing and motivating staff members. A business development manager demonstrated the need for this skill by putting this on their resume: "determined long-term organizational strategic goals and built key customer relationships while identifying business opportunities. "
  • While "communication skills" is listed last on this skills list, don't underestimate its importance to business development manager responsibilities. The skill is described by this resume snippet, "managers must be able to communicate effectively with a broad-based team made up of other managers or staff members during the advertising, promotions, and marketing process" Here is an example of how this skill is used, "developed marketing communications mix and activities for product lines. "
  • See the full list of business development manager skills.

    We've found that 73.6% of business development managers have earned a bachelor's degree. Furthermore, 13.9% earned their master's degrees before becoming a business development manager. While it's true that most business development managers have a college degree, it's generally possible to become one with only a high school degree. In fact, one out of every nine business development managers did not spend the extra money to attend college.

    Those business development managers who do attend college, typically earn either business degrees or marketing degrees. Less commonly earned degrees for business development managers include communication degrees or management degrees.

    When you're ready to become a business development manager, you might wonder which companies hire business development managers. According to our research through business development manager resumes, business development managers are mostly hired by Oracle, Facebook, and Amazon. Now is a good time to apply as Oracle has 450 business development managers job openings, and there are 117 at Facebook and 104 at Amazon.

    Since salary is important to some business development managers, it's good to note that they are figured to earn the highest salaries at Shearman & Sterling, Mayo Clinic, and Simpson Thacher & Bartlett. If you were to take a closer look at Shearman & Sterling, you'd find that the average business development manager salary is $194,394. Then at Mayo Clinic, business development managers receive an average salary of $188,904, while the salary at Simpson Thacher & Bartlett is $186,964.

    View more details on business development manager salaries across the United States.

    If you earned a degree from the top 100 educational institutions in the United States, you might want to take a look at Cisco, American Express, and IBM. These three companies have hired a significant number of business development managers from these institutions.

    For the most part, business development managers make their living in the technology and professional industries. Business development managers tend to make the most in the finance industry with an average salary of $103,515. The business development manager annual salary in the manufacturing and technology industries generally make $97,625 and $95,311 respectively. Additionally, business development managers who work in the finance industry make 6.7% more than business development managers in the hospitality Industry.

    The three companies that hire the most prestigious business development managers are:

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    What Director Of Sales & Business Developments Do

    A director of sales business development is responsible for monitoring the business and project plans, ensuring that the sales targets are met, according to project requirements and specifications. Directors of sales business development perform data analysis to track business performance and identify opportunities to grow revenues and profits. They also coordinate with the clients and maintain healthy business relationships by enhancing their brand image on various platforms and reach the target audience. A director of sales business development works closely with the marketing and sales team for public relations and marketing campaigns placement.

    In this section, we take a look at the annual salaries of other professions. Take director of sales & business development for example. On average, the directors of sales & business development annual salary is $18,184 lower than what business development managers make on average every year.

    While the salaries between these two careers can be different, they do share some of the same responsibilities. Employees in both business development managers and directors of sales & business development positions are skilled in crm, healthcare, and business relationships.

    As far as similarities go, this is where it ends because a business development manager responsibility requires skills such as "customer service," "project management," "bdm," and "excellent interpersonal." Whereas a director of sales & business development is skilled in "value proposition," "leveraged," "oil gas," and "cloud." So if you're looking for what truly separates the two careers, you've found it.

    Directors of sales & business development tend to make the most money in the technology industry by averaging a salary of $127,443. In contrast, business development managers make the biggest average salary of $103,515 in the finance industry.

    The education levels that directors of sales & business development earn is a bit different than that of business development managers. In particular, directors of sales & business development are 1.3% less likely to graduate with a Master's Degree than a business development manager. Additionally, they're 0.1% more likely to earn a Doctoral Degree.

    What Are The Duties Of a Business To Business Sales Manager?

    A business to business sales manager is responsible for monitoring the company's business transactions and ensuring that the team meets sales goals and targets. Business to business sales managers review business accounts and perform adjustments to sales plans as needed to adhere to clients' requests and customer demands. They also conduct data and statistical analysis through the evaluation of market trends to identify opportunities that would generate more revenue resources for the business and increase the brand's image in the market.

    Next up, we have the business to business sales manager profession to look over. This career brings along a lower average salary when compared to a business development manager annual salary. In fact, business to business sales managers salary difference is $25,527 lower than the salary of business development managers per year.

    A similarity between the two careers of business development managers and business to business sales managers are a few of the skills associated with both roles. We used resumes from both professions to find that both use skills like "customer service," "crm," and "business relationships. "

    But both careers also use different skills, according to real business development manager resumes. While business development manager responsibilities can utilize skills like "healthcare," "customer relationships," "project management," and "bdm," some business to business sales managers use skills like "business sales," "sales professionals," "business travel," and "site inspections."

    It's been discovered that business to business sales managers earn lower salaries compared to business development managers, but we wanted to find out where business to business sales managers earned the most pay. The answer? The finance industry. The average salary in the industry is $83,440. Additionally, business development managers earn the highest paychecks in the finance with an average salary of $103,515.

    When it comes to the differences in education between the two professions, business to business sales managers tend to reach lower levels of education than business development managers. In fact, they're 5.7% less likely to graduate with a Master's Degree and 0.1% less likely to earn a Doctoral Degree.

    How a Vice President, Business Development Compares

    A vice president of business development is a professional 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.

    The vice president, business development profession generally makes a higher amount of money when compared to the average salary of business development managers. The difference in salaries is vice presidents, business development making $64,390 higher than business development managers.

    Using business development managers and vice presidents, business development resumes, we found that both professions have similar skills such as "crm," "healthcare," and "business relationships," but the other skills required are very different.

    Some important key differences between the two careers are a few of the skills necessary to fulfill responsibilities. Some examples from business development manager resumes include skills like "customer service," "customer relationships," "bdm," and "excellent interpersonal," whereas a vice president, business development might be skilled in "business strategy," "financial services," "due diligence," and "sales strategy. "

    Vice presidents, business development make a very good living in the manufacturing industry with an average annual salary of $164,511. Whereas business development managers are paid the highest salary in the finance industry with the average being $103,515.

    When it comes to education, vice presidents, business development tend to earn similar education levels than business development managers. In fact, they're 4.8% more likely to earn a Master's Degree, and 1.0% more likely to graduate with a Doctoral Degree.

    Description Of a Director New Business Development

    A director of new business development is in charge of spearheading new programs and procedures, ensuring efficiency and smooth workflow. It is their duty to set goals and objectives in adherence to the company's vision and mission, establishing guidelines, allocating budgets, and overseeing the progress of all efforts. Furthermore, as a director of new business development, it is essential to lead and encourage the workforce to reach goals, all while implementing the company's policies and regulations.

    Now, we'll look at directors new business development, who generally average a higher pay when compared to business development managers annual salary. In fact, the difference is about $9,503 per year.

    While both business development managers and directors new business development complete day-to-day tasks using similar skills like crm, healthcare, and business relationships, the two careers also vary in other skills.

    Even though a few skill sets overlap, there are some differences that are important to note. For one, a business development manager might have more use for skills like "customer service," "customer relationships," "bdm," and "excellent interpersonal." Meanwhile, some directors new business development might include skills like "business strategies," "treasury," "corporate clients," and "business model" on their resume.

    Directors new business development earn a higher salary in the energy industry with an average of $126,576. Whereas, business development managers earn the highest salary in the finance industry.

    The average resume of directors new business development showed that they earn similar levels of education to business development managers. So much so that the likelihood of them earning a Master's Degree is 1.2% more. Additionally, they're more likely to earn a Doctoral Degree by 0.8%.

    What a Business Development Manager Does FAQs

    How Much Money Does A Business Development Manager Make?

    A business development manager in the US makes $130,085 annually on average, but it can range between $50,000- $154,000 based on work history and location. The range of salary is due to different ways the title is used and different spans of responsibilities of the role.

    Is Business Development Manager A Good Job?

    Yes, being a business development manager is a good job. The job focuses on getting new partners, entering new markets, and developing new products. This role is at the leading edge of the company, building relationships with clients and organizations to generate opportunities. The job requires research, outreach, and excellent communication skills.

    What Skills Does A Business Development Manager Need?

    The skills of a business development manager are all related to growing the business; they must have excellent organizational skills, good vision, and practical strategies for growing the business. Business development managers find opportunities, leads, and build relationships with clients.

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