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The differences between new business development and senior business development managers can be seen in a few details. Each job has different responsibilities and duties. It typically takes 8-10 years to become both a new business development and a senior business development manager. Additionally, a senior business development manager has an average salary of $129,638, 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 senior business development manager are healthcare, cloud, and business relationships.
| New Business Development | Senior Business Development Manager | |
| Yearly salary | $84,261 | $129,638 |
| Hourly rate | $40.51 | $62.33 |
| Growth rate | 10% | 10% |
| Number of jobs | 197,789 | 204,172 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 73% | Bachelor's Degree, 73% |
| Average age | 39 | 39 |
| Years of experience | 10 | 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.
As senior business development manager is mainly responsible for creating and maintaining solid relationships and making business decisions. They do plan ways to grow the business, find areas of client needs, manage business negotiations, and review and approve other business decisions. It is expected in their job to seamlessly complete target deadlines and delegate tasks to subordinates. Moreover, they should be able to have good working relationships with employees and clients, so good communication and interpersonal skills are necessary.
New business development and senior business development managers have different pay scales, as shown below.
| New Business Development | Senior Business Development Manager | |
| Average salary | $84,261 | $129,638 |
| Salary range | Between $57,000 And $122,000 | Between $94,000 And $178,000 |
| Highest paying City | San Francisco, CA | Seattle, WA |
| Highest paying state | New Jersey | Washington |
| Best paying company | Citi | Shearman & Sterling |
| Best paying industry | Technology | Manufacturing |
There are a few differences between a new business development and a senior business development manager in terms of educational background:
| New Business Development | Senior Business Development Manager | |
| Most common degree | Bachelor's Degree, 73% | Bachelor's Degree, 73% |
| Most common major | Business | Business |
| Most common college | University of Georgia | University of Georgia |
Here are the differences between new business development' and senior business development managers' demographics:
| New Business Development | Senior Business Development Manager | |
| Average age | 39 | 39 |
| Gender ratio | Male, 63.2% Female, 36.8% | Male, 74.8% Female, 25.2% |
| 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, 3.0% Unknown, 5.3% Hispanic or Latino, 8.7% Asian, 8.2% White, 74.6% American Indian and Alaska Native, 0.2% |
| LGBT Percentage | 10% | 10% |