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The differences between business development officers and vice presidents, business development can be seen in a few details. Each job has different responsibilities and duties. While it typically takes 4-6 years to become a business development officer, 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 $77,778 average annual salary of a business development officer.
The top three skills for a business development officer include customer service, business administration and financial services. The most important skills for a vice president, business development are healthcare, business strategy, and revenue growth.
| Business Development Officer | Vice President, Business Development | |
| Yearly salary | $77,778 | $165,159 |
| Hourly rate | $37.39 | $79.40 |
| Growth rate | 6% | 6% |
| Number of jobs | 169,947 | 188,137 |
| Job satisfaction | - | 5 |
| Most common degree | Bachelor's Degree, 73% | Bachelor's Degree, 73% |
| Average age | 44 | 52 |
| Years of experience | 6 | - |
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.
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 officers and vice presidents, business development have different pay scales, as shown below.
| Business Development Officer | Vice President, Business Development | |
| Average salary | $77,778 | $165,159 |
| Salary range | Between $47,000 And $126,000 | Between $104,000 And $262,000 |
| Highest paying City | Albany, NY | Seattle, WA |
| Highest paying state | New York | Washington |
| Best paying company | MUFG EMEA | Fanatics |
| Best paying industry | Health Care | Manufacturing |
There are a few differences between a business development officer and a vice president, business development in terms of educational background:
| Business Development Officer | Vice President, Business Development | |
| Most common degree | Bachelor's Degree, 73% | Bachelor's Degree, 73% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between business development officers' and vice presidents, business development' demographics:
| Business Development Officer | Vice President, Business Development | |
| Average age | 44 | 52 |
| Gender ratio | Male, 62.4% Female, 37.6% | Male, 81.3% Female, 18.7% |
| Race ratio | Black 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, 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% |