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The differences between business partners and business development managers can be seen in a few details. Each job has different responsibilities and duties. It typically takes 8-10 years to become both a business partner and a business development manager. Additionally, a business development manager has an average salary of $100,769, which is higher than the $96,324 average annual salary of a business partner.
The top three skills for a business partner include analytics, project management and customer service. The most important skills for a business development manager are customer service, CRM, and healthcare.
| Business Partner | Business Development Manager | |
| Yearly salary | $96,324 | $100,769 |
| Hourly rate | $46.31 | $48.45 |
| Growth rate | 10% | 10% |
| Number of jobs | 106,251 | 215,309 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 65% | Bachelor's Degree, 74% |
| Average age | 39 | 39 |
| Years of experience | 10 | 10 |
A business partner is an individual who is involved in a legal business partnership with other individuals to manage a business as co-owners. Business partners invest their money into the business, and each partner benefits from any profits and sustains part of any losses. They must file with the state in which they do business and are governed mostly by state laws. Business partners can also be either liable or not for the actions taken by the company.
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.
Business partners and business development managers have different pay scales, as shown below.
| Business Partner | Business Development Manager | |
| Average salary | $96,324 | $100,769 |
| Salary range | Between $66,000 And $140,000 | Between $67,000 And $151,000 |
| Highest paying City | San Francisco, CA | San Francisco, CA |
| Highest paying state | Washington | California |
| Best paying company | ZS | Shearman & Sterling |
| Best paying industry | Technology | Finance |
There are a few differences between a business partner and a business development manager in terms of educational background:
| Business Partner | Business Development Manager | |
| Most common degree | Bachelor's Degree, 65% | Bachelor's Degree, 74% |
| Most common major | Business | Business |
| Most common college | University of Georgia | University of Georgia |
Here are the differences between business partners' and business development managers' demographics:
| Business Partner | Business Development Manager | |
| Average age | 39 | 39 |
| Gender ratio | Male, 56.2% Female, 43.8% | Male, 68.6% Female, 31.4% |
| 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, 3.0% Unknown, 5.3% Hispanic or Latino, 8.7% Asian, 8.2% White, 74.6% American Indian and Alaska Native, 0.2% |
| LGBT Percentage | 10% | 10% |