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The differences between new business development and business developers can be seen in a few details. Each job has different responsibilities and duties. Additionally, a business developer has an average salary of $101,635, which is higher than the $84,261 average annual salary of a new business development.
The top three skills for a new business development include senior level management, business development and CRM. The most important skills for a business developer are healthcare, CRM, and customer service.
| New Business Development | Business Developer | |
| Yearly salary | $84,261 | $101,635 |
| Hourly rate | $40.51 | $48.86 |
| Growth rate | 10% | 10% |
| Number of jobs | 197,789 | 193,469 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 73% | Bachelor's Degree, 72% |
| Average age | 39 | 44 |
| Years of experience | 10 | - |
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. It is the responsibility of new business development agents to be aware of new market opportunities, possibilities for expansion, competitor product developments, and the company's current sources of revenue. This job can be summarized as the source of ideas, initiatives, and activities aimed in the direction of making a business better.
A business developer specializes in conducting in-depth business analysis and crafting various strategies that would not just help a business grow, but also strengthen client base and brand awareness. One of their primary responsibilities revolves around identifying areas in need of improvement. They come up with new services that will boost customer satisfaction, examining the potential for revenue and figuring out new opportunities from trends or other pre-existing programs within the company. All of this is conducted according to the vision, mission, and policies of the organization.
New business development and business developers have different pay scales, as shown below.
| New Business Development | Business Developer | |
| Average salary | $84,261 | $101,635 |
| Salary range | Between $57,000 And $122,000 | Between $66,000 And $156,000 |
| Highest paying City | San Francisco, CA | San Francisco, CA |
| Highest paying state | New Jersey | California |
| Best paying company | Citi | Apple |
| Best paying industry | Technology | Manufacturing |
There are a few differences between a new business development and a business developer in terms of educational background:
| New Business Development | Business Developer | |
| Most common degree | Bachelor's Degree, 73% | Bachelor's Degree, 72% |
| Most common major | Business | Business |
| Most common college | University of Georgia | Western Carolina University |
Here are the differences between new business development' and business developers' demographics:
| New Business Development | Business Developer | |
| Average age | 39 | 44 |
| Gender ratio | Male, 63.2% Female, 36.8% | Male, 65.8% Female, 34.2% |
| 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% |