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Business development specialist salary
Average business development specialist salary
$57,410
Understanding the Salary of a Business Development Specialist
The salary for a Business Development Specialist averages around $57,410 per year, translating to about $28 per hour. This position is pivotal in identifying new business opportunities, establishing partnerships, and enhancing market presence. Salaries can vary significantly based on factors such as location, experience, and industry sector.
Top Paying States for Business Development Specialists
Geography plays a vital role in salary potential. States like California and New York often offer higher compensation due to their competitive markets and cost of living. Additionally, industries such as technology and finance tend to pay more due to the complex nature of their business development needs.
Career Advancement Opportunities
With experience, Business Development Specialists can progress to senior roles, leading teams or strategizing company growth at a higher level. Pursuing certifications or advanced degrees in business management can further enhance earning potential and career prospects.
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Where can a Business Development Specialist earn more?
Business development specialist salary estimates from across the web
Average business development specialist salary by state
The highest-paying states for business development specialists are Wisconsin, New Jersey, and Delaware. The lowest average business development specialist salary states are Oklahoma, Mississippi, and Alabama.
- State view
- County view
Highest paying states for business development specialists
| Rank | State | Avg. salary | Hourly rate |
|---|---|---|---|
| 1 | Wisconsin | $71,955 | $34.59 |
| 2 | Utah | $69,265 | $33.30 |
| 3 | Pennsylvania | $66,646 | $32.04 |
| 4 | Michigan | $68,052 | $32.72 |
| 5 | New Hampshire | $64,883 | $31.19 |
| 6 | Minnesota | $62,753 | $30.17 |
| 7 | Ohio | $63,856 | $30.70 |
| 8 | Delaware | $70,519 | $33.90 |
| 9 | District of Columbia | $64,969 | $31.24 |
| 10 | New Jersey | $70,958 | $34.11 |
| 11 | Nebraska | $58,783 | $28.26 |
| 12 | South Dakota | $58,614 | $28.18 |
| 13 | Connecticut | $68,397 | $32.88 |
| 14 | Washington | $66,043 | $31.75 |
| 15 | Oregon | $64,761 | $31.14 |
| 16 | Rhode Island | $58,098 | $27.93 |
| 17 | Massachusetts | $66,723 | $32.08 |
| 18 | Indiana | $60,342 | $29.01 |
| 19 | Virginia | $65,368 | $31.43 |
| 20 | Vermont | $57,318 | $27.56 |
| 21 | West Virginia | $57,924 | $27.85 |
| 22 | North Carolina | $59,151 | $28.44 |
| 23 | Illinois | $63,026 | $30.30 |
| 24 | North Dakota | $55,693 | $26.78 |
| 25 | New York | $63,458 | $30.51 |
| 26 | Colorado | $62,236 | $29.92 |
| 27 | Maine | $56,679 | $27.25 |
| 28 | Maryland | $61,765 | $29.69 |
| 29 | Missouri | $56,563 | $27.19 |
| 30 | Montana | $57,741 | $27.76 |
| 31 | Arkansas | $51,693 | $24.85 |
| 32 | Kentucky | $54,723 | $26.31 |
| 33 | Wyoming | $52,135 | $25.06 |
| 34 | Alaska | $50,989 | $24.51 |
| 35 | Louisiana | $54,162 | $26.04 |
| 36 | Kansas | $51,822 | $24.91 |
| 37 | Iowa | $51,480 | $24.75 |
| 38 | Nevada | $50,951 | $24.50 |
| 39 | Hawaii | $46,144 | $22.18 |
| 40 | Tennessee | $49,962 | $24.02 |
| 41 | California | $53,535 | $25.74 |
| 42 | Idaho | $53,789 | $25.86 |
| 43 | Alabama | $49,260 | $23.68 |
| 44 | South Carolina | $50,122 | $24.10 |
| 45 | Texas | $51,958 | $24.98 |
| 46 | Mississippi | $49,545 | $23.82 |
| 47 | Georgia | $50,915 | $24.48 |
| 48 | New Mexico | $45,812 | $22.02 |
| 49 | Oklahoma | $49,702 | $23.90 |
| 50 | Arizona | $50,366 | $24.21 |
| 51 | Florida | $45,964 | $22.10 |
Highest paying cities for business development specialists
The highest-paying cities for business development specialists are Jersey City, NJ, Salt Lake City, UT, and Cambridge, MA.
| Rank | City | Avg. salary | Hourly rate |
|---|---|---|---|
| 1 | Jersey City, NJ | $71,160 | $34.21 |
| 2 | Salt Lake City, UT | $69,737 | $33.53 |
| 3 | Cambridge, MA | $66,672 | $32.05 |
| 4 | Philadelphia, PA | $66,633 | $32.04 |
| 5 | Seattle, WA | $66,021 | $31.74 |
| 6 | Richmond, VA | $65,448 | $31.47 |
| 7 | Washington, DC | $65,020 | $31.26 |
| 8 | New York, NY | $63,474 | $30.52 |
| 9 | Chicago, IL | $63,269 | $30.42 |
| 10 | Minneapolis, MN | $62,820 | $30.20 |
| 11 | Denver, CO | $62,486 | $30.04 |
| 12 | Charlotte, NC | $58,401 | $28.08 |
| 13 | San Francisco, CA | $56,216 | $27.03 |
| 14 | Plano, TX | $53,225 | $25.59 |
| 15 | Atlanta, GA | $51,352 | $24.69 |
| 16 | Phoenix, AZ | $50,521 | $24.29 |
| 17 | Las Vegas, NV | $50,364 | $24.21 |
| 18 | Orlando, FL | $46,269 | $22.24 |
Business development specialist salary details
A business development specialist's salary ranges from $38,000 a year at the 10th percentile to $85,000 at the 90th percentile.
What is a business development specialist's salary?
| Percentile | Annual salary | Monthly salary | Hourly rate |
|---|---|---|---|
| 90th Percentile | $85,000 | $7,083 | $41 |
| 75th Percentile | $70,000 | $5,833 | $34 |
| Average | $57,410 | $4,784 | $28 |
| 25th Percentile | $46,000 | $3,833 | $22 |
| 10th Percentile | $38,000 | $3,167 | $18 |
Highest paying business development specialist jobs
The highest paying types of business development specialists are vice president, business development, senior business development manager, and business development sales manager.
| Job title | Annual salary | Monthly salary | Hourly rate | Job openings |
|---|---|---|---|---|
| Business Advisor | $96,469 | $8,039 | $46.38 | 125,154 |
| Vice President, Business Development | $165,159 | $13,763 | $79.40 | 188,137 |
| Business Development Account Manager | $99,209 | $8,267 | $47.70 | 222,573 |
| Business Developer | $101,635 | $8,470 | $48.86 | 193,469 |
| Business Development Internship | $33,146 | $2,762 | $15.94 | 147,302 |
| New Business Development | $84,261 | $7,022 | $40.51 | 197,789 |
How would you rate the starting salaries for business development specialists, as well as the prospects for salary advancement?
Kim Chatani
Assistant Professor, Concordia University Irvine
Top companies hiring business development specialists now:
Which companies pay business development specialists the most?
Business development specialist salaries at Corsair and SeaChange International are the highest-paying according to our most recent salary estimates. In addition, the average business development specialist salary at companies like Cisco and SAS Institute are highly competitive.
| Rank | Company | Average salary | Hourly rate |
|---|---|---|---|
| 1 | Corsair | $104,377 | $50.18 |
| 2 | SeaChange International | $101,426 | $48.76 |
| 3 | Cisco | $98,530 | $47.37 |
| 4 | SAS Institute | $97,077 | $46.67 |
| 5 | $95,697 | $46.01 | |
| 6 | Sonus | $93,166 | $44.79 |
| 7 | Coastal Realty | $92,442 | $44.44 |
| 8 | Arkema | $91,855 | $44.16 |
| 9 | EPAM Systems | $90,790 | $43.65 |
| 10 | Southern California Edison | $90,663 | $43.59 |
| 11 | Venable | $90,587 | $43.55 |
| 12 | Capital Group | $89,735 | $43.14 |
| 13 | Payoneer | $88,747 | $42.67 |
| 14 | HSBC Bank | $87,947 | $42.28 |
| 15 | Renesas Electronics | $84,793 | $40.77 |
| 16 | Better | $84,218 | $40.49 |
| 17 | The Dow Chemical Company | $84,023 | $40.40 |
| 18 | Infinite Computer Solutions | $83,896 | $40.33 |
| 19 | Eaton | $82,486 | $39.66 |
| 20 | KPIT Technologies | $82,430 | $39.63 |
Wage gap by gender, race and education
Business Development Specialist salary by industry
The average business development specialist salary varies across industries:
- The average business development specialist salary in the finance industry is $63,094, the highest of any industry.
- The average business development specialist salary in the finance industry is $61,024.
- Business development specialists in the construction industry earn an average salary of $55,974, the lowest of any industry.
Highest paying industries for business development specialists
| Rank | Industry | Average salary | Hourly rate |
|---|---|---|---|
| 1 | Finance | $63,094 | $30.33 |
| 2 | Technology | $61,024 | $29.34 |
| 3 | Telecommunication | $59,852 | $28.77 |
| 4 | Manufacturing | $59,631 | $28.67 |
| 5 | Agriculture | $57,663 | $27.72 |
| 6 | Real Estate | $57,155 | $27.48 |
| 7 | Professional | $56,417 | $27.12 |
| 8 | Construction | $55,974 | $26.91 |
High paying business development specialist jobs
Business development specialist salary trends
The average business development specialist salary has risen by $8,449 over the last ten years. In 2014, the average business development specialist earned $48,961 annually, but today, they earn $57,410 a year. That works out to a 9% change in pay for business development specialists over the last decade.
Compare business development specialist salaries for cities or states with the national average over time.
Average business development specialist salary over time
Compare business development specialist salaries for individual cities or states with the national average.
Business development specialist salary by year
| Year | Avg. salary | Hourly rate | % Change |
|---|---|---|---|
| 2025 | $57,400 | $27.60 | +3.8% |
| 2024 | $55,200 | $26.55 | +2.3% |
| 2023 | $53,900 | $25.93 | +0.7% |
| 2022 | $53,500 | $25.74 | +1.4% |
| 2021 | $52,800 | $25.38 | +1.3% |
Recently added business development specialist salaries
| Company | Job | Location | Date added | Salary |
|---|---|---|---|---|
| Otis Elevator Company | Business Development Specialist | Anaheim, CA | 06/30/2025 | $75,000 |
| Interstate | Business Development Specialist (B2B Sales) | Corning, NY | 06/30/2025 | $44,799 |
| Interstate | Business Development Specialist | Garden Grove, CA | 06/30/2025 | $49,279 |
| Alston & Bird's Antitrust Group | Business & Practice Development Specialist | Atlanta, GA | 06/29/2025 | $75,000 |
| Davis Wright Tremaine | Business Development Specialist | Washington, DC | 06/29/2025 | $81,000 |
| Davis Wright Tremaine | Business Development Specialist | New York, NY | 06/29/2025 | $81,000 |
| Davis Wright Tremaine | Business Development Specialist | Seattle, WA | 06/29/2025 | $81,000 |
| Davis Wright Tremaine | Business Development Specialist | Portland, OR | 06/29/2025 | $81,000 |
| Milbank LLP | Marketing & Business Development Specialist | New York, NY | 06/29/2025 | $80,000 |
| Parts Town | Business Development Specialist | Plattsburgh, NY | 06/29/2025 | $51,895 |
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