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The differences between market development specialists and business development consultants can be seen in a few details. Each job has different responsibilities and duties. Additionally, a business development consultant has an average salary of $85,153, which is higher than the $58,991 average annual salary of a market development specialist.
The top three skills for a market development specialist include market development, healthcare and heart failure. The most important skills for a business development consultant are healthcare, CRM, and cloud.
| Market Development Specialist | Business Development Consultant | |
| Yearly salary | $58,991 | $85,153 |
| Hourly rate | $28.36 | $40.94 |
| Growth rate | 19% | 6% |
| Number of jobs | 82,421 | 168,111 |
| Job satisfaction | - | 5 |
| Most common degree | Bachelor's Degree, 78% | Bachelor's Degree, 72% |
| Average age | 37 | 44 |
| Years of experience | 6 | - |
A market development specialist works on different marketing programs and projects to secure sales and premium goals. They develop and execute training strategies and programs, perform market research and analyses to find business opportunities, study the consumers and competitors, and create sales pitches ideal for field operations. They may also reach out directly to clients by calls, emails, or appointments, offer products and services, and establish positive relationships through efficient services. Additionally, a market development specialist oversees every marketing project's progress, producing reports for managers regularly.
The role of business consultants is to provide an analysis of a company on its business practices and make recommendations for long-term goals. This role is also connected with various duties and responsibilities, including reviewing the company's financial statements, engaging in research on how to improve the company's offers, and developing new business models. Also, business consultants are responsible for negotiating contracts as needed, initiating plans and strategies to minimize company losses and drive profits. They may also function as the company's representative in promotional events and trade associations.
Market development specialists and business development consultants have different pay scales, as shown below.
| Market Development Specialist | Business Development Consultant | |
| Average salary | $58,991 | $85,153 |
| Salary range | Between $39,000 And $87,000 | Between $52,000 And $137,000 |
| Highest paying City | Wilmington, DE | Minneapolis, MN |
| Highest paying state | Delaware | Pennsylvania |
| Best paying company | Amazon | Veeva Systems |
| Best paying industry | Finance | Media |
There are a few differences between a market development specialist and a business development consultant in terms of educational background:
| Market Development Specialist | Business Development Consultant | |
| Most common degree | Bachelor's Degree, 78% | Bachelor's Degree, 72% |
| Most common major | Business | Business |
| Most common college | University of Georgia | Western Carolina University |
Here are the differences between market development specialists' and business development consultants' demographics:
| Market Development Specialist | Business Development Consultant | |
| Average age | 37 | 44 |
| Gender ratio | Male, 59.6% Female, 40.4% | Male, 64.1% Female, 35.9% |
| Race ratio | Black or African American, 5.2% Unknown, 5.0% Hispanic or Latino, 12.4% Asian, 9.6% White, 67.6% American Indian and Alaska Native, 0.1% | 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% |