Explore jobs
Find specific jobs
Explore careers
Explore professions
Best companies
Explore companies
The differences between new business development and business development representatives 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 $47,240 average annual salary of a business development representative.
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 representative are business development, work ethic, and customer service.
| New Business Development | Business Development Representative | |
| Yearly salary | $84,261 | $47,240 |
| Hourly rate | $40.51 | $22.71 |
| Growth rate | 10% | 4% |
| Number of jobs | 197,789 | 269,704 |
| Job satisfaction | - | 5 |
| Most common degree | Bachelor's Degree, 73% | Bachelor's Degree, 70% |
| 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 representative's role is to find new business and client opportunities through market research and networking. They are primarily responsible for participating in creating strategies to enhance client relations, improve sales, and reach out to potential clients through calls, correspondence, and meetings. Moreover, it is also their responsibility to perform follow-up calls, offer recommendations, and even build rapport to strengthen client base. As a representative, it is essential to coordinate with managers and supervisors and adhere to policies and regulations.
New business development and business development representatives have different pay scales, as shown below.
| New Business Development | Business Development Representative | |
| Average salary | $84,261 | $47,240 |
| Salary range | Between $57,000 And $122,000 | Between $26,000 And $82,000 |
| Highest paying City | San Francisco, CA | San Francisco, CA |
| Highest paying state | New Jersey | Alaska |
| Best paying company | Citi | Wipro Limited |
| Best paying industry | Technology | Manufacturing |
There are a few differences between a new business development and a business development representative in terms of educational background:
| New Business Development | Business Development Representative | |
| Most common degree | Bachelor's Degree, 73% | Bachelor's Degree, 70% |
| Most common major | Business | Business |
| Most common college | University of Georgia | Stanford University |
Here are the differences between new business development' and business development representatives' demographics:
| New Business Development | Business Development Representative | |
| Average age | 39 | 44 |
| Gender ratio | Male, 63.2% Female, 36.8% | Male, 50.9% Female, 49.1% |
| 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, 6.8% Unknown, 4.1% Hispanic or Latino, 16.3% Asian, 5.6% White, 66.9% American Indian and Alaska Native, 0.4% |
| LGBT Percentage | 10% | 5% |