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New business development vs business development specialist

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 vs business development specialist overview

New Business DevelopmentBusiness Development Specialist
Yearly salary$84,261$57,410
Hourly rate$40.51$27.60
Growth rate10%10%
Number of jobs197,789182,116
Job satisfaction--
Most common degreeBachelor's Degree, 73%Bachelor's Degree, 73%
Average age3944
Years of experience10-

What does a new business development do?

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.

What does a business development specialist do?

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 vs business development specialist salary

New business development and business development specialists have different pay scales, as shown below.

New Business DevelopmentBusiness Development Specialist
Average salary$84,261$57,410
Salary rangeBetween $57,000 And $122,000Between $38,000 And $85,000
Highest paying CitySan Francisco, CAJersey City, NJ
Highest paying stateNew JerseyWisconsin
Best paying companyCitiCorsair
Best paying industryTechnologyFinance

Differences between new business development and business development specialist education

There are a few differences between a new business development and a business development specialist in terms of educational background:

New Business DevelopmentBusiness Development Specialist
Most common degreeBachelor's Degree, 73%Bachelor's Degree, 73%
Most common majorBusinessBusiness
Most common collegeUniversity of GeorgiaWestern Carolina University

New business development vs business development specialist demographics

Here are the differences between new business development' and business development specialists' demographics:

New Business DevelopmentBusiness Development Specialist
Average age3944
Gender ratioMale, 63.2% Female, 36.8%Male, 50.7% Female, 49.3%
Race ratioBlack 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 Percentage10%11%

Differences between new business development and business development specialist duties and responsibilities

New business development example responsibilities.

  • Create, manage and update customer accounts on SalesForce customer database.
  • Utilize SalesForce to manage territory.
  • Manage logistics, control engineering and design, order placement, vendor relationships, customer utilization and technology.
  • Negotiate TCO, leveraging ROI and relate metrics, at a high level in a mature market.
  • Facilitate communication between healthcare providers and client company contacts.
  • Deliver a complete energy solution that noticeably impact ROI savings for many industrial and manufacturing companies.
  • Show more

Business development specialist example responsibilities.

  • Utilize a number of sales tools such as SalesForce to manage pipeline.
  • Develop and manage all SEO, SEM, and all social media platforms and authore all content.
  • Manage and coordinate a successful implementation of a cloud-base ERP system.
  • Manage logistics, control engineering and design, order placement, vendor relationships, customer utilization and technology.
  • Take inbound and make some outbound calls as necessary to assist customers with billing, account information and troubleshoot technical issues.
  • Experience connecting databases in SQL with the software application.
  • Show more

New business development vs business development specialist skills

Common new business development skills
  • Senior Level Management, 18%
  • Business Development, 15%
  • CRM, 10%
  • Sales Strategies, 6%
  • Sales Quota, 5%
  • Product Development, 3%
Common business development specialist skills
  • Work Ethic, 10%
  • CRM, 9%
  • Customer Service, 7%
  • Healthcare, 6%
  • Sales Process, 4%
  • Salesforce, 4%

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