Business Development Manager Career

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Sales Careers | Business Development Manager

Business Development Manager

Career Area: Sales

Occupation Group: Sales Managers

Salary

Percentile wages tell how much a certain percentage of an overall population in a geographic area or within a given industry or field makes. The percentile wage estimate is the value of a wage below which a certain percent of workers fall.

An example would be the 25th percentile, 25 percent of workers employed in that occupation earn less and 75 percent earn more than the estimated wage value. At the 75th percentile, 75 percent of workers employed in that occupation earn less and 25 percent earn more than the estimated wage value.

A typical Business Development Manager earns the following wages (national and state):

State

The average salary in North Carolina for those pursuing this career is $77,053

*The salaries depicted here are representative of the range of salaries posted in job listings over the past year. Living wage in North Carolina is $30,000.

National

The average salary in the United States for those pursuing this career is $80,539

*The salaries depicted here are representative of the range of salaries posted in job listings over the past year. Living wage in North Carolina is $30,000.

What Does a Professional in this Career Do?

Identifies new business opportunities and clients for a company, and develops marketing and sales strategies to help grow a company's business. Builds customer relationships and partnerships and negotiates business deals. Works with senior marketing and sales staff to increase sales opportunities.

Employment Trends

The job demand and job growth statistics shown here were derived from job posts over the past year. Expected job growth projections are extrapolated from year-over-year job post listing history.

Job demand and job growth is expected at the following rates:

Growth
North Carolina2805+11.3%
Nationwide79017+7.5%

Skills

A professional in this position typically utilizes the following skills in the course of everyday work in this exciting and challenging field:

Baseline Skills

The following are baseline skills every Business Development Manager is expected to have in order to experience success in this field:

  • Communication Skills: The ability to convey information to another effectively and efficiently.
  • Building Effective Relationships: Building relationships is about your ability to identify and initiate working relationships and to develop and maintain them in a way that is of mutual benefit to both yourself and the other party. Good relationships are the key to getting things done and are essential when your success is dependent on others.
  • Teamwork / Collaboration: Experience working in collaborative efforts with a team to achieve a common goal or to complete a task in the most effective and efficient way.
  • Microsoft Excel: Microsoft Excel is a spreadsheet developed by Microsoft for Windows, macOS, Android and iOS. It features calculation, graphing tools, pivot tables, and a macro programming language called Visual Basic for Applications.
  • Planning: Working experience with the process of thinking about and organizing the activities required to achieve desired goals.

Specialized Skills

These skills are specific to working in this career:

  • Business Development: Business development entails tasks and processes to develop and implement growth opportunities within and between organizations.
  • Sales: Experience selling products or services to consumers.
  • Customer Service: Working experience with the provision of service to customers before, during and after a purchase.
  • Budgeting: Experience planning how the financial resources of a business or department are to be allocated during the next business period.
  • Prospective Clients: Working with Prospective Clients, which are indivuals who are not yet customers, but who have the potential of becoming one.

Distinguishing Skills

Any Business Development Manager that possesses the following skills will stand out against the competition:

  • Articulating Value Propositions: Working experience of Articulating Value Propositions. Value proposition refers to a business or marketing statement that a company uses to summarize why a consumer should buy a product or use a service. This statement convinces a potential consumer that one particular product or service will add more value or better solve a problem than other similar offerings will. Companies use this statement to target customers who will benefit most from using the company's products, and this helps maintain an economic moat.
  • Sales Strategy: A sales strategy is a plan by a business or individual on how to go about selling products and services and increasing profits.
  • Market Strategy: Marketing strategy includes all basic, short-term, and long-term activities in the field of marketing that deal with the analysis of the strategic initial situation of a company and the formulation, evaluation and selection of market-oriented strategies that contribute to the goals of the company and its marketing objectives.
  • Sales Planning: Experience setting profit-based sales targets, quotas, sales forecasting, demand management and the execution of a sales plan.
  • Sales Prospecting: Working experience of Sales Prospecting, which is when inside sales reps make outbound calls or send outbound emails to leads in hopes of creating opportunities for account executives. Prospecting can involve cold-calling as well as reaching out to nurture leads that have gone cold.

Education

This career typically requires the following level of education. The numbers presented in the pie charts below were derived from actual job posts over the past year. Not all job postings list education requirements.

.
Education Level%
Bachelor's Degree65%
Master's Degree21%
Doctoral Degree0%

Experience

This position typically requires the following level of experience. The numbers presented in the pie charts below were derived from actual job posts over the past year. Not all job postings list experience requirements.

Experience Required%
0 to 2 years20%
3 to 5 years51%
6 to 8 years15%

Many of the programs offered through NC State are designed for working professionals who need additional credentials to enhance existing work experience.

Students who do not have the expected level of experience may wish to look into internship and employment opportunities.

Common Job Titles

It is possible to find work in this field in positions commonly listed as the following job titles:

  • Business Development Manager
  • Business Development Executive
  • Development Manager
  • Sales Manager
  • Agency Development Manager

Similar Occupations

If you are interested in exploring similar occupations, you may want to research the following job titles:

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