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The differences between market development managers and business development specialists can be seen in a few details. Each job has different responsibilities and duties. Additionally, a market development manager has an average salary of $111,159, which is higher than the $57,410 average annual salary of a business development specialist.
The top three skills for a market development manager include digital marketing, market development and competitor analysis. The most important skills for a business development specialist are work ethic, CRM, and customer service.
| Market Development Manager | Business Development Specialist | |
| Yearly salary | $111,159 | $57,410 |
| Hourly rate | $53.44 | $27.60 |
| Growth rate | 10% | 10% |
| Number of jobs | 173,901 | 182,116 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 76% | Bachelor's Degree, 73% |
| Average age | 39 | 44 |
| Years of experience | 10 | - |
A market development manager is in charge of overseeing marketing operations, ensuring efficiency and smooth workflow. Their responsibilities revolve around assessing existing projects and programs, identifying areas needing improvement, devising strategies to find new opportunities, and coordinating with different departments to ensure profitable growth and a strong client base. They are also in charge of creating training programs for new employees, managing the budget, and supervising marketing initiatives. Furthermore, as a manager, it is essential to lead and encourage teams to reach goals and optimal performance, all while implementing the company's policies and regulations.
A business development specialist is an expert who determines opportunities for marketing strategy optimization and business growth. The specialists perform business process and financial analysis, effective network creation, and business plan implementation. Being a good business development specialist requires knowledge and experience in managing a business. The skillset for the position includes a strong command in English, information technology, attention to detail, and written and verbal communication.
Market development managers and business development specialists have different pay scales, as shown below.
| Market Development Manager | Business Development Specialist | |
| Average salary | $111,159 | $57,410 |
| Salary range | Between $74,000 And $165,000 | Between $38,000 And $85,000 |
| Highest paying City | San Francisco, CA | Jersey City, NJ |
| Highest paying state | Maryland | Wisconsin |
| Best paying company | Apple | Corsair |
| Best paying industry | Technology | Finance |
There are a few differences between a market development manager and a business development specialist in terms of educational background:
| Market Development Manager | Business Development Specialist | |
| Most common degree | Bachelor's Degree, 76% | Bachelor's Degree, 73% |
| Most common major | Business | Business |
| Most common college | University of Georgia | Western Carolina University |
Here are the differences between market development managers' and business development specialists' demographics:
| Market Development Manager | Business Development Specialist | |
| Average age | 39 | 44 |
| Gender ratio | Male, 70.0% Female, 30.0% | Male, 50.7% Female, 49.3% |
| 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, 6.4% Unknown, 4.6% Hispanic or Latino, 9.4% Asian, 8.8% White, 70.4% American Indian and Alaska Native, 0.4% |
| LGBT Percentage | 10% | 11% |