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A vice president of business development is responsible for getting business partners on board, who are strategically relevant to the company's mission. A VP of Business Development researches the field and identifies potentially fruitful partners. They analyze the potential impacts of a partnership, create and maintain business relationships, and manage the accounts of key partners.

VPs of Business Development have a very clear understanding of the company's products and their place on the market. They know their competitors inside-out and have an insight into the business activities and strategies that will sustain and grow the company.

This is a senior-level role with a six-figure income, employed by larger corporations. VPs of Business Development are persistent and great communicators who are familiar with the ups and downs of business endeavors and have outstanding sales achievements up their sleeves.

There is more than meets the eye when it comes to being a vice president, business development. For example, did you know that they make an average of $69.01 an hour? That's $143,547 a year!

Between 2018 and 2028, the career is expected to grow 6% and produce 150,600 job opportunities across the U.S.

What Does a Vice President, Business Development Do

There are certain skills that many vice presidents, business development have in order to accomplish their responsibilities. By taking a look through resumes, we were able to narrow down the most common skills for a person in this position. We discovered that a lot of resumes listed management skills, problem-solving skills and time-management skills.

Learn more about what a Vice President, Business Development does

How To Become a Vice President, Business Development

If you're interested in becoming a vice president, business development, one of the first things to consider is how much education you need. We've determined that 73.0% of vice presidents, business development have a bachelor's degree. In terms of higher education levels, we found that 18.7% of vice presidents, business development have master's degrees. Even though most vice presidents, business development have a college degree, it's impossible to become one with only a high school degree or GED.

Choosing the right major is always an important step when researching how to become a vice president, business development. When we researched the most common majors for a vice president, business development, we found that they most commonly earn bachelor's degree degrees or master's degree degrees. Other degrees that we often see on vice president, business development resumes include associate degree degrees or doctoral degree degrees.

You may find that experience in other jobs will help you become a vice president, business development. In fact, many vice president, business development jobs require experience in a role such as vice president. Meanwhile, many vice presidents, business development also have previous career experience in roles such as business development director or account executive.

Top Vice President, Business Development Jobs Near You

Vice President, Business Development Career Paths

Average Salary for a Vice President, Business Development

Vice Presidents, Business Development in America make an average salary of $143,547 per year or $69 per hour. The top 10 percent makes over $219,000 per year, while the bottom 10 percent under $94,000 per year.
Average Vice President, Business Development Salary
$143,547 Yearly
$69.01 hourly
$94,000
10 %
$143,000
Median
$219,000
90 %

What Am I Worth?

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Vice President, Business Development Education

Vice President, Business Development Majors

33.1 %
9.0 %

Vice President, Business Development Degrees

Bachelors

73.0 %

Masters

18.7 %

Associate

4.5 %

Top Colleges for Vice President, Business Developments

1. University of Pennsylvania

Philadelphia, PA • Private

In-State Tuition
$55,584
Enrollment
10,764

2. Northwestern University

Evanston, IL • Private

In-State Tuition
$54,568
Enrollment
8,451

3. University of Southern California

Los Angeles, CA • Private

In-State Tuition
$56,225
Enrollment
19,548

4. University of Texas at Austin

Austin, TX • Private

In-State Tuition
$10,610
Enrollment
40,329

5. SUNY at Binghamton

Vestal, NY • Private

In-State Tuition
$9,808
Enrollment
13,990

6. Northeastern University

Boston, MA • Private

In-State Tuition
$51,522
Enrollment
13,760

7. Bentley University

Waltham, MA • Private

In-State Tuition
$49,880
Enrollment
4,177

8. George Washington University, The

Washington, DC • Private

In-State Tuition
$55,230
Enrollment
12,161

9. Lehigh University

Bethlehem, PA • Private

In-State Tuition
$52,930
Enrollment
5,030

10. Pennsylvania State University

University Park, PA • Private

In-State Tuition
$18,454
Enrollment
40,108

Top Skills For a Vice President, Business Development

The skills section on your resume can be almost as important as the experience section, so you want it to be an accurate portrayal of what you can do. Luckily, we've found all of the skills you'll need so even if you don't have these skills yet, you know what you need to work on. Out of all the resumes we looked through, 9.4% of vice presidents, business development listed healthcare on their resume, but soft skills such as management skills and problem-solving skills are important as well.

Choose From 10+ Customizable Vice President, Business Development Resume templates

Zippia allows you to choose from different easy-to-use Vice President, Business Development templates, and provides you with expert advice. Using the templates, you can rest assured that the structure and format of your Vice President, Business Development resume is top notch. Choose a template with the colors, fonts & text sizes that are appropriate for your industry.

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Vice President, Business Development Demographics

Vice President, Business Development Gender Distribution

Male
Male
81%
Female
Female
19%

After extensive research and analysis, Zippia's data science team found that:

  • Among vice presidents, business development, 18.7% of them are women, while 81.3% are men.

  • The most common race/ethnicity among vice presidents, business development is White, which makes up 81.2% of all vice presidents, business development.

  • The most common foreign language among vice presidents, business development is Spanish at 33.5%.

Online Courses For Vice President, Business Development That You May Like

Advertising Disclosure  The courses listed below are affiliate links. This means if you click on the link and purchase the course, we may receive a commission.
Business Strategy Development: The Art of Differentiation
udemy
4.5
(1,582)

Learn 3 key business strategy tools. Improve your business innovation skills and drive profitable business development...

Sales Fire: B2B Sales & Business Development for Startups
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4.3
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The Ultimate Sales Methodology for Business Development & B2B Sales to Learn Sales Strategy, Sales Skills & Deal Closing...

Start Improving Customer Service
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4.1
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Creating a Customer Service advantage in Your department or business through communication and Customer Management...

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Best States For a Vice President, Business Development

Some places are better than others when it comes to starting a career as a vice president, business development. The best states for people in this position are Washington, Oregon, Delaware, and California. Vice presidents, business development make the most in Washington with an average salary of $189,880. Whereas in Oregon and Delaware, they would average $173,553 and $171,339, respectively. While vice presidents, business development would only make an average of $167,531 in California, you would still make more there than in the rest of the country. We determined these as the best states based on job availability and pay. By finding the median salary, cost of living, and using the Bureau of Labor Statistics' Location Quotient, we narrowed down our list of states to these four.

1. Nevada

Total Vice President, Business Development Jobs:
592
Highest 10% Earn:
$236,000
Location Quotient:
1.36 Location Quotient is a measure used by the Bureau of Labor Statistics (BLS) to determine how concentrated a certain industry is in a single state compared to the nation as a whole. You can read more about how BLS calculates location quotients here

2. Delaware

Total Vice President, Business Development Jobs:
259
Highest 10% Earn:
$250,000
Location Quotient:
0.99 Location Quotient is a measure used by the Bureau of Labor Statistics (BLS) to determine how concentrated a certain industry is in a single state compared to the nation as a whole. You can read more about how BLS calculates location quotients here

3. District of Columbia

Total Vice President, Business Development Jobs:
546
Highest 10% Earn:
$236,000
Location Quotient:
1.56 Location Quotient is a measure used by the Bureau of Labor Statistics (BLS) to determine how concentrated a certain industry is in a single state compared to the nation as a whole. You can read more about how BLS calculates location quotients here
Full List Of Best States For Vice Presidents, Business Development

How Do Vice President, Business Development Rate Their Jobs?

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5.0

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Top Vice President, Business Development Employers

We've made finding a great employer to work for easy by doing the hard work for you. We looked into employers that employ vice presidents, business development and discovered their number of vice president, business development opportunities and average salary. Through our research, we concluded that Pearson was the best, especially with an average salary of $139,587. Wells Fargo follows up with an average salary of $110,536, and then comes Anthem with an average of $153,511. In addition, we know most people would rather work from home. So instead of having to change careers, we identified the best employers for remote work as a vice president, business development. The employers include Broadridge, Parsons, and MetLife

Most Common Employers For Vice President, Business Development

Rank  Company  Average Salary  Hourly Rate  Job Openings  
1SAIC$155,819$74.9134
2Mastercard$155,189$74.6118
3Anthem$153,511$73.8059
4Citi$153,405$73.7539
5JPMorgan Chase & Co.$147,150$70.7541
6American Express$146,679$70.5215
7General Electric$146,032$70.2121
8GE Capital$143,547$69.0126
9Merrill Lynch$143,547$69.0116
10AllianceBernstein$142,247$68.3916

Vice President, Business Development Videos

Becoming a Vice President, Business Development FAQs

Who reports to the VP of business development?

The sales team reports to the VP of business development. In many cases, this will be the sales team leads. Individual members of the sales team will typically report to the sales lead or sales manager, who then reports to the VP of Business Development.

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