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The differences between market development representatives and business development executives can be seen in a few details. Each job has different responsibilities and duties. Additionally, a business development executive has an average salary of $97,871, which is higher than the $59,685 average annual salary of a market development representative.
The top three skills for a market development representative include sales process, product knowledge and salesforce. The most important skills for a business development executive are business development, digital transformation, and customer service.
| Market Development Representative | Business Development Executive | |
| Yearly salary | $59,685 | $97,871 |
| Hourly rate | $28.69 | $47.05 |
| Growth rate | 4% | 10% |
| Number of jobs | 187,873 | 189,950 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 80% | Bachelor's Degree, 75% |
| Average age | 44 | 39 |
| Years of experience | - | 10 |
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.
A business development executive serves as a senior manager who drives company sales. Business development executives convince existing clients to buy more offerings and also source new clients. The focus of their job is on lead generation, prospect management, and customer acquisition. They collaborate with management in terms of sales objectives, planning, and prediction. The skills necessary for this job include customer service and relations, time management, strong written communication, and sales process experience.
Market development representatives and business development executives have different pay scales, as shown below.
| Market Development Representative | Business Development Executive | |
| Average salary | $59,685 | $97,871 |
| Salary range | Between $43,000 And $82,000 | Between $64,000 And $149,000 |
| Highest paying City | San Francisco, CA | Phoenix, AZ |
| Highest paying state | Connecticut | Arizona |
| Best paying company | Cisco | Clifford Chance |
| Best paying industry | Manufacturing | Pharmaceutical |
There are a few differences between a market development representative and a business development executive in terms of educational background:
| Market Development Representative | Business Development Executive | |
| Most common degree | Bachelor's Degree, 80% | Bachelor's Degree, 75% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Georgia |
Here are the differences between market development representatives' and business development executives' demographics:
| Market Development Representative | Business Development Executive | |
| Average age | 44 | 39 |
| Gender ratio | Male, 59.8% Female, 40.2% | Male, 63.8% Female, 36.2% |
| Race ratio | Black or African American, 6.7% Unknown, 4.0% Hispanic or Latino, 16.3% Asian, 5.6% White, 67.0% American Indian and Alaska Native, 0.4% | 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 | 5% | 10% |