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The differences between new business development and business development associates can be seen in a few details. Each job has different responsibilities and duties. Additionally, a new business development has an average salary of $84,261, which is higher than the $65,126 average annual salary of a business development associate.
The top three skills for a new business development include senior level management, business development and CRM. The most important skills for a business development associate are customer service, powerpoint, and project management.
| New Business Development | Business Development Associate | |
| Yearly salary | $84,261 | $65,126 |
| Hourly rate | $40.51 | $31.31 |
| Growth rate | 10% | 10% |
| Number of jobs | 197,789 | 141,089 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 73% | Bachelor's Degree, 78% |
| 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 development associate's role is to develop strategies to boost a company's sales and overall growth. They are primarily responsible for conducting research and analysis to identify clients' needs, participate in creating business plans and products, and produce progress reports and presentations. A business development associate must also maintain a database of customer information, arrange meetings between clients, coordinate with marketing staff, and assist in negotiations. Furthermore, it is essential to adhere to the policies and standards of the company.
New business development and business development associates have different pay scales, as shown below.
| New Business Development | Business Development Associate | |
| Average salary | $84,261 | $65,126 |
| Salary range | Between $57,000 And $122,000 | Between $39,000 And $106,000 |
| Highest paying City | San Francisco, CA | Greenwich, CT |
| Highest paying state | New Jersey | Connecticut |
| Best paying company | Citi | Kirkland & Ellis |
| Best paying industry | Technology | Automotive |
There are a few differences between a new business development and a business development associate in terms of educational background:
| New Business Development | Business Development Associate | |
| Most common degree | Bachelor's Degree, 73% | Bachelor's Degree, 78% |
| Most common major | Business | Business |
| Most common college | University of Georgia | University of Southern California |
Here are the differences between new business development' and business development associates' demographics:
| New Business Development | Business Development Associate | |
| Average age | 39 | 44 |
| Gender ratio | Male, 63.2% Female, 36.8% | Male, 54.5% Female, 45.5% |
| 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% |