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Head of business development hiring summary. Here are some key points about hiring heads of business development in the United States:
Here's a step-by-step head of business development hiring guide:
A head of business development is responsible for monitoring the company's overall business operations and client transactions. Heads of business development coordinate with clients for their requirements and specifications and develop the team to handle the project management operations. They also handle the budget and resource allocations and ensure that the team meets the deadline and high-quality deliverables on time. Ahead of business development must be regularly updated with the current market trends to identify opportunities that would generate more revenue resources for the business.
Before you start hiring a head of business development, identify what type of worker you actually need. Certain positions might call for a full-time employee, while others can be done by a part-time worker or contractor.
A head of business development's background is also an important factor in determining whether they'll be a good fit for the position. For example, heads of business development from different industries or fields will have radically different experiences and will bring different viewpoints to the role. You also need to consider the candidate's previous level of experience to make sure they'll be comfortable with the job's level of seniority.
The following list breaks down different types of heads of business development and their corresponding salaries.
| Type of Head Of Business Development | Description | Hourly rate |
|---|---|---|
| Head Of Business Development | Advertising, promotions, and marketing managers plan programs to generate interest in products or services. They work with art directors, sales agents, and financial staff members. | $45-91 |
| Business Partner | 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... Show more | $31-67 |
| Development Manager | A development manager is responsible for assisting existing clients or potential clients of the services they need. A development manager serves as the initial point of contact for the clients to answer their inquiries and concerns before proceeding with a contract... Show more | $36-76 |
| Rank | State | Avg. salary | Hourly rate |
|---|---|---|---|
| 1 | Washington | $161,180 | $77 |
| 2 | Massachusetts | $159,041 | $76 |
| 3 | Nevada | $158,033 | $76 |
| 4 | California | $156,607 | $75 |
| 5 | Connecticut | $156,427 | $75 |
| 6 | Arizona | $149,003 | $72 |
| 7 | New York | $145,686 | $70 |
| 8 | New Jersey | $140,247 | $67 |
| 9 | Indiana | $139,708 | $67 |
| 10 | Virginia | $136,427 | $66 |
| 11 | Michigan | $134,882 | $65 |
| 12 | Minnesota | $134,146 | $64 |
| 13 | District of Columbia | $130,304 | $63 |
| 14 | North Carolina | $121,311 | $58 |
| 15 | North Dakota | $117,248 | $56 |
| 16 | Texas | $114,435 | $55 |
| 17 | Illinois | $111,169 | $53 |
| 18 | Colorado | $109,090 | $52 |
| 19 | Georgia | $105,104 | $51 |
| 20 | Florida | $102,423 | $49 |
| Rank | Company | Average salary | Hourly rate | Job openings |
|---|---|---|---|---|
| 1 | Meta | $201,995 | $97.11 | 198 |
| 2 | $193,403 | $92.98 | 169 | |
| 3 | Poshmark | $177,017 | $85.10 | |
| 4 | Bloomberg | $171,536 | $82.47 | 23 |
| 5 | ByteDance | $171,380 | $82.39 | 3 |
| 6 | Oculus | $171,173 | $82.29 | |
| 7 | $170,357 | $81.90 | 3 | |
| 8 | Penske Media | $166,173 | $79.89 | 2 |
| 9 | Agenus | $165,534 | $79.58 | 1 |
| 10 | Cloudflare | $164,261 | $78.97 | 14 |
| 11 | Inter-American Development Bank | $161,966 | $77.87 | |
| 12 | Economists Incorporated | $160,459 | $77.14 | |
| 13 | AstraZeneca | $158,074 | $76.00 | 17 |
| 14 | TinyCo | $154,486 | $74.27 | |
| 15 | Balyasny Asset Management L.P. | $154,320 | $74.19 | |
| 16 | Atlassian | $154,304 | $74.18 | 29 |
| 17 | The Economist Newspaper Group | $153,290 | $73.70 | 3 |
| 18 | Intuit | $153,106 | $73.61 | 132 |
| 19 | Walgreens | $152,852 | $73.49 | 7 |
| 20 | Microsoft | $151,165 | $72.68 | 218 |
A job description for a head of business development role includes a summary of the job's main responsibilities, required skills, and preferred background experience. Including a salary range can also go a long way in attracting more candidates to apply, and showing the first name of the hiring manager can also make applicants more comfortable. As an example, here's a head of business development job description:
There are various strategies that you can use to find the right head of business development for your business:
Recruiting heads of business development requires you to bring your A-game to the interview process. The first interview should introduce the company and the role to the candidate as much as they present their background experience and reasons for applying for the job. During later interviews, you can go into more detail about the technical details of the job and ask behavioral questions to gauge how they'd fit into your current company culture.
It's also good to ask about candidates' unique skills and talents. You can move on to the technical interview if a candidate is good enough for the next step.
The right interview questions can help you assess a candidate's hard skills, behavioral intelligence, and soft skills.
Once you've found the head of business development candidate you'd like to hire, it's time to write an offer letter. This should include an explicit job offer that includes the salary and the details of any other perks. Qualified candidates might be looking at multiple positions, so your offer must be competitive if you like the candidate. Also, be prepared for a negotiation stage, as candidates may way want to tweak the details of your initial offer. Once you've settled on these details, you can draft a contract to formalize your agreement.
It's also important to follow up with applicants who do not get the job with an email letting them know that the position is filled.
To prepare for the new head of business development first day, you should share an onboarding schedule with them that covers their first period on the job. You should also quickly complete any necessary paperwork, such as employee action forms and onboarding documents like I-9, benefits enrollment, and federal and state tax forms. Finally, Human Resources must ensure a new employee file is created for internal record keeping.
Hiring a head of business development comes with both the one-time cost per hire and ongoing costs. The cost of recruiting heads of business development involves promoting the job and spending time conducting interviews. Ongoing costs include employee salary, training, benefits, insurance, and equipment. It is essential to consider the cost of head of business development recruiting as well the ongoing costs of maintaining the new employee.
The median annual salary for heads of business development is $134,190 in the US. However, the cost of head of business development hiring can vary a lot depending on location. Additionally, hiring a head of business development for contract work or on a per-project basis typically costs between $45 and $91 an hour.