Explore jobs
Find specific jobs
Explore careers
Explore professions
Best companies
Explore companies
The differences between new business development and business development specialists 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 $57,410 average annual salary of a business development specialist.
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 specialist are work ethic, CRM, and customer service.
| New Business Development | Business Development Specialist | |
| Yearly salary | $84,261 | $57,410 |
| Hourly rate | $40.51 | $27.60 |
| Growth rate | 10% | 10% |
| Number of jobs | 197,789 | 182,116 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 73% | Bachelor's Degree, 73% |
| 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 specialist is an expert who determines opportunities for marketing strategy optimization and business growth. The specialists perform business process and financial analysis, effective network creation, and business plan implementation. Being a good business development specialist requires knowledge and experience in managing a business. The skillset for the position includes a strong command in English, information technology, attention to detail, and written and verbal communication.
New business development and business development specialists have different pay scales, as shown below.
| New Business Development | Business Development Specialist | |
| Average salary | $84,261 | $57,410 |
| Salary range | Between $57,000 And $122,000 | Between $38,000 And $85,000 |
| Highest paying City | San Francisco, CA | Jersey City, NJ |
| Highest paying state | New Jersey | Wisconsin |
| Best paying company | Citi | Corsair |
| Best paying industry | Technology | Finance |
There are a few differences between a new business development and a business development specialist in terms of educational background:
| New Business Development | Business Development Specialist | |
| Most common degree | Bachelor's Degree, 73% | Bachelor's Degree, 73% |
| Most common major | Business | Business |
| Most common college | University of Georgia | Western Carolina University |
Here are the differences between new business development' and business development specialists' demographics:
| New Business Development | Business Development Specialist | |
| Average age | 39 | 44 |
| Gender ratio | Male, 63.2% Female, 36.8% | Male, 50.7% Female, 49.3% |
| 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% |