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Business development officer vs business owner

The differences between business development officers and business owners can be seen in a few details. Each job has different responsibilities and duties. It typically takes 4-6 years to become both a business development officer and a business owner. Additionally, a business development officer has an average salary of $77,778, which is higher than the $50,934 average annual salary of a business owner.

The top three skills for a business development officer include customer service, business administration and financial services. The most important skills for a business owner are customer service, payroll, and financial statements.

Business development officer vs business owner overview

Business Development OfficerBusiness Owner
Yearly salary$77,778$50,934
Hourly rate$37.39$24.49
Growth rate6%6%
Number of jobs169,947107,663
Job satisfaction--
Most common degreeBachelor's Degree, 73%Bachelor's Degree, 52%
Average age4444
Years of experience66

What does a business development officer do?

A business development officer is responsible for implementing project management techniques and identifying business opportunities to generate revenue resources and increase client partnerships. Business development officers negotiate business offers to the clients, understanding their specifications, and develop strategic processes to reach their target goals according to their requirements, such as budget limitations and deadlines. They also review sales proposals and marketing materials, adjusting existing policies to deliver high-quality outputs with minimal costs. A business development officer analyzes feedback, evaluates current market trends, and monitors business and financial transactions.

What does a business owner do?

Business owners, also known as Entrepreneurs, are responsible for their company and brand's success. There are many areas of responsibility when you're a business owner, such as in the aspects of planning and budgeting, arranging finances and legal documentation, and even hiring the workforce essential for the business to grow. However, these responsibilities will vary according to how a business owner will uphold them. Moreover, building a business from the ground up requires dedication and a vision and mission for the brand.

Business development officer vs business owner salary

Business development officers and business owners have different pay scales, as shown below.

Business Development OfficerBusiness Owner
Average salary$77,778$50,934
Salary rangeBetween $47,000 And $126,000Between $27,000 And $94,000
Highest paying CityAlbany, NYSeattle, WA
Highest paying stateNew YorkWashington
Best paying companyMUFG EMEABD
Best paying industryHealth CareRetail

Differences between business development officer and business owner education

There are a few differences between a business development officer and a business owner in terms of educational background:

Business Development OfficerBusiness Owner
Most common degreeBachelor's Degree, 73%Bachelor's Degree, 52%
Most common majorBusinessBusiness
Most common collegeUniversity of PennsylvaniaUniversity of Pennsylvania

Business development officer vs business owner demographics

Here are the differences between business development officers' and business owners' demographics:

Business Development OfficerBusiness Owner
Average age4444
Gender ratioMale, 62.4% Female, 37.6%Male, 51.4% Female, 48.6%
Race ratioBlack or African American, 6.1% Unknown, 4.3% Hispanic or Latino, 15.0% Asian, 6.3% White, 67.7% American Indian and Alaska Native, 0.5%Black or African American, 6.3% Unknown, 4.3% Hispanic or Latino, 15.5% Asian, 6.4% White, 67.0% American Indian and Alaska Native, 0.5%
LGBT Percentage10%10%

Differences between business development officer and business owner duties and responsibilities

Business development officer example responsibilities.

  • Accomplish business development professional - successfully grow revenue by conduct outside sales prospecting and lead generation for new SBA loans.
  • Follow up on the progress of leads that are generated from origination to conversion, assisting bankers to win business.
  • Lead centralized, electronic referral center coordinating post-acute service needs of patients discharging from multiple acute facilities in Arizona region.
  • Collaborate on entire business model, from lead generation, custom CRM creation/implementation, sales presentations, and employee compensation.
  • Network with commercial lenders, mortgage lenders, professional bankers, treasury management, and government bankers.
  • Involve and learned about PNC s full product set including derivatives, foreign exchange, treasury management, and international trade.
  • Show more

Business owner example responsibilities.

  • Manage the budget and insure operations run smoothly.
  • Create, own and manage a LLC for grind pet transportation.
  • Establish and manage a beading boutique via the Internet by utilizing Photoshop to post designs on a personal website.
  • Manage sales, customer service, billing, A/P, A/R, vendor relations, negotiations, repairs, and maintenance.
  • Manage end to end business operations including hiring, scheduling visits, conducting customer consultations and performing pet visits.
  • Handle all aspects from A/P to A/R, payroll, ordering and dealing with all distributors and city officials.
  • Show more

Business development officer vs business owner skills

Common business development officer skills
  • Customer Service, 13%
  • Business Administration, 7%
  • Financial Services, 6%
  • Workplace, 6%
  • SBA, 5%
  • Bank Products, 4%
Common business owner skills
  • Customer Service, 31%
  • Payroll, 12%
  • Financial Statements, 9%
  • Business Plan, 7%
  • Business Model, 3%
  • Real Estate, 2%

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