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The differences between new business development and vice presidents, business development can be seen in a few details. Each job has different responsibilities and duties. While it typically takes 8-10 years to become a new business development, becoming a vice president, business development takes usually requires More than 10 years. Additionally, a vice president, business development has an average salary of $165,159, 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 vice president, business development are healthcare, business strategy, and revenue growth.
| New Business Development | Vice President, Business Development | |
| Yearly salary | $84,261 | $165,159 |
| Hourly rate | $40.51 | $79.40 |
| Growth rate | 10% | 6% |
| Number of jobs | 197,789 | 188,137 |
| Job satisfaction | - | 5 |
| Most common degree | Bachelor's Degree, 73% | Bachelor's Degree, 73% |
| Average age | 39 | 52 |
| 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 vice president of business development is an individual who leads in the execution of business plans and provides new business strategies for an organization. Vice presidents of business development closely work with a team of salespeople, management, and lower-level employees to secure contracts with new customers and manage ongoing agreements. They often travel to participate in business conferences and meetings with vendors and suppliers. Vice presidents of business development must also possess a bachelor's degree in business administration or marketing.
New business development and vice presidents, business development have different pay scales, as shown below.
| New Business Development | Vice President, Business Development | |
| Average salary | $84,261 | $165,159 |
| Salary range | Between $57,000 And $122,000 | Between $104,000 And $262,000 |
| Highest paying City | San Francisco, CA | Seattle, WA |
| Highest paying state | New Jersey | Washington |
| Best paying company | Citi | Fanatics |
| Best paying industry | Technology | Manufacturing |
There are a few differences between a new business development and a vice president, business development in terms of educational background:
| New Business Development | Vice President, Business Development | |
| Most common degree | Bachelor's Degree, 73% | Bachelor's Degree, 73% |
| Most common major | Business | Business |
| Most common college | University of Georgia | University of Pennsylvania |
Here are the differences between new business development' and vice presidents, business development' demographics:
| New Business Development | Vice President, Business Development | |
| Average age | 39 | 52 |
| Gender ratio | Male, 63.2% Female, 36.8% | Male, 81.3% Female, 18.7% |
| 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, 3.8% Unknown, 3.9% Hispanic or Latino, 7.9% Asian, 7.7% White, 76.1% American Indian and Alaska Native, 0.6% |
| LGBT Percentage | 10% | 12% |