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Market development representative hiring summary. Here are some key points about hiring market development representatives in the United States:
Here's a step-by-step market development representative hiring guide:
A market development representative is in charge of devising strategies to generate sales leads and identify new business opportunities. They typically reach out to clients through calls and correspondence to offer products and services, securing sales and client satisfaction. They may also arrange appointments to discuss product specifications and even negotiate contracts. Furthermore, as a market development representative, it is essential to address issues and concerns from clients, resolving them promptly and efficiently in adherence to the company's policies and regulations.
Before you post your market development representative job, you should take the time to determine what type of worker your business needs. While certain jobs definitely require a full-time employee, it's sometimes better to find a market development representative for hire on a part-time basis or as a contractor.
Hiring the perfect market development representative also involves considering the ideal background you'd like them to have. Depending on what industry or field they have experience in, they'll bring different skills to the job. It's also important to consider what levels of seniority and education the job requires and what kind of salary such a candidate would likely demand.
This list shows salaries for various types of market development representatives.
| Type of Market Development Representative | Description | Hourly rate |
|---|---|---|
| Market Development Representative | $20-39 | |
| New Business Development | New business development focuses on new business opportunities and new product innovation, including product design, business model design, and marketing. This includes a wide scope of responsibilities that includes marketing planning, strategic partnerships, and increased profitability... Show more | $27-58 |
| Business Sales Representative | A business sales representative's role is to develop strategies in identifying leads and opportunities to secure sales. Their responsibilities revolve around reaching out to clients to offer products and services, discussing the pricing and specifications of products, processing payments, and gathering necessary client information... Show more | $14-51 |
| Rank | State | Avg. salary | Hourly rate |
|---|---|---|---|
| 1 | California | $74,989 | $36 |
| 2 | Massachusetts | $70,373 | $34 |
| 3 | Maryland | $70,287 | $34 |
| 4 | Tennessee | $65,644 | $32 |
| 5 | Nebraska | $64,530 | $31 |
| 6 | District of Columbia | $63,975 | $31 |
| 7 | New York | $63,245 | $30 |
| 8 | Washington | $62,477 | $30 |
| 9 | Alaska | $60,520 | $29 |
| 10 | Illinois | $59,731 | $29 |
| 11 | South Dakota | $59,020 | $28 |
| 12 | Arizona | $58,478 | $28 |
| 13 | Pennsylvania | $58,322 | $28 |
| 14 | Rhode Island | $57,410 | $28 |
| 15 | Montana | $57,302 | $28 |
| 16 | North Dakota | $56,658 | $27 |
| 17 | Georgia | $54,068 | $26 |
| 18 | Wisconsin | $54,017 | $26 |
| 19 | Oklahoma | $52,701 | $25 |
| 20 | Kansas | $52,679 | $25 |
| Rank | Company | Average salary | Hourly rate | Job openings |
|---|---|---|---|---|
| 1 | Cisco | $93,382 | $44.90 | 49 |
| 2 | Intuitive Surgical | $92,925 | $44.68 | 18 |
| 3 | ResMed | $92,762 | $44.60 | 2 |
| 4 | Premier Realty | $85,341 | $41.03 | |
| 5 | Eastman | $77,251 | $37.14 | 3 |
| 6 | Atlassian | $74,071 | $35.61 | 11 |
| 7 | Vista Equity Partners | $73,952 | $35.55 | 10 |
| 8 | DocuSign | $71,527 | $34.39 | 2 |
| 9 | TripActions | $69,909 | $33.61 | |
| 10 | Oracle | $66,885 | $32.16 | 3,507 |
| 11 | Aetna | $62,262 | $29.93 | |
| 12 | Starbucks | $62,074 | $29.84 | 2 |
| 13 | Comcast | $61,815 | $29.72 | 128 |
| 14 | MDI | $59,803 | $28.75 | |
| 15 | Sysco | $59,564 | $28.64 | 435 |
| 16 | Pushpay | $59,551 | $28.63 | 3 |
| 17 | Cambria | $59,414 | $28.56 | 3 |
| 18 | CVRx | $59,393 | $28.55 | |
| 19 | Interapt | $59,392 | $28.55 | |
| 20 | Braze | $59,340 | $28.53 | 2 |
A market development representative job description should include a summary of the role, required skills, and a list of responsibilities. It's also good to include a salary range and the first name of the hiring manager. Below, you can find an example of a market development representative job description:
To find market development representatives for your business, try out a few different recruiting strategies:
During your first interview to recruit market development representatives, engage with candidates to learn about their interest in the role and experience in the field. During the following interview, you'll be able to go into more detail about the company, the position, and the responsibilities.
Remember to include a few questions that allow candidates to expand on their strengths in their own words. Asking about their unique skills might reveal things you'd miss otherwise. At this point, good candidates can move on to the technical interview.
The right interview questions can help you assess a candidate's hard skills, behavioral intelligence, and soft skills.
Once you've decided on a perfect market development representative candidate, it's time to write an offer letter. In addition to salary, it should include benefits and perks available to the employee. Qualified candidates may be considered for other positions, so make sure your offer is competitive. Candidates may wish to negotiate. Once you've settled on the details, formalize your agreement with a contract.
It's equally important to follow up with applicants who don't get the job with an email letting them know that the position has been filled.
To prepare for the new market development representative 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.
There are different types of costs for hiring market development representatives. One-time cost per hire for the recruitment process. Ongoing costs include employee salary, training, onboarding, benefits, insurance, and equipment. It is essential to consider all of these costs when evaluating hiring a new market development representative employee.
Market development representatives earn a median yearly salary is $59,685 a year in the US. However, if you're looking to find market development representatives for hire on a contract or per-project basis, hourly rates typically range between $20 and $39.