What does a Business Development do?

A Business Developer works as the tip of the spear producing and driving business for a company. Developers are in charge of generating new client business through networking and follow up on recommendations. Often they design and implement strategies for the client utilizing their companies assets to accommodate both parties best. Advancement from Business Representative or Business Officer is a common transition with the opportunity to advance further to Business Executive later down the road.

A Business Developer will usually have a degree from an accredited college in business or a related field. Most universities and colleges have well-defined business programs. Advanced education in business is preferred for more senior positions. The job relies on heavy on the ability to communicate over the phone and in person. Having strong communication, solid interpersonal skills and a willingness to travel is a must in this field.

  • Analyze current and past financial data, such as sales reports, and provide strategies to cut costs and increase revenue
  • Perform market research to identify new opportunities and engage with executives to establish strategies for pursuing those new opportunities
  • Create and improve proposals for our existing and new clients
  • Prepare the company budget and continually track expenses, as well as make sure we're on track to hit revenue targets
  • Provide training and mentoring to members of the business development team
  • Develop and deliver pitches for potential investors
  • Network with investors and and other business partners to generate new leads
  • Travel to destinations to best facilitate transactions or training
  • 5+ years experience working in a development role
  • Previous role in a leadership position
  • A valid passport
  • An understanding of how to interpret P&L, Earnings, and Inventory reports
  • Robust interpersonal skills
  • Ability to travel in order to see clients, explore new markets and attend conventions
  • Solid written and verbal communication skills
  • Strong leadership skills
  • A familiarity with the Microsoft Office Suite
EducationBachelor's Degree
Work/Life Balance
3.6 ★
Salary Range--
Career Opportunity
3.6 ★
Avg. Experience2-4 years

Business Development Salaries

Average Base Pay

$68,995 /yr
Same as national average
Not including cash compensation
See More Insights
$37K
Median: $69K
$130K
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Glassdoor Estimated Salary

Business Development Career Path

Learn how to become a Business Development, what skills and education you need to succeed, and what level of pay to expect at each step on your career path.

L3
Business Developer
$65,109/yr
L4
See Career Path

Business Development Insights

Read what Business Development professionals have to say about their job experiences and view top companies for this career.
The Chicago Sun-TimesThe Chicago Sun-Times
Developer
Nov 5, 2019

“Everyone I interacted with (except for the IT guy) was really nice and enjoyable to work with.”

Foggers (India)
Business Development Officer
Sep 29, 2021

“MD & CEO are good and well behaving persons but If some makes some mistakes or work is not done.”

Generation.XYZ
Developer
Aug 7, 2021

“the overall working experience was good and I was comfortable doing my job in this company and good to go.”

Interviewing.io
Business Development
Oct 19, 2021

“I genuinely enjoy internal meetings and company events which is something I haven't always experienced elsewhere”

PrimitivePrimitive
Developer
Dec 21, 2021

“Primitive is an awesome place to work and I would strongly recommend it to anyone!”

White Rabbit GroupWhite Rabbit Group
Business Development
Oct 21, 2021

“I got to work with some great brands which expanded my knowledge and also challenged me to create win”

Mary Bird Perkins Cancer CenterMary Bird Perkins Cancer Center
Business Development
Oct 6, 2021

“The people here and great and I got to learn many different roles within the company.”

Emipro TechnologiesEmipro Technologies
Senior Odoo Developer
Nov 9, 2021

“Keep away from company because there is no 5 day working and no life balance.”

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Business Development Interviews

Related Careers

Business Development Manager
$83,119
13% skills overlap
Business Development Executive
$81,786
Business Development Associate
$55,166
75% skills overlap
Software Engineer
$108,249
No skills overlap

Business Development Jobs

Frequently asked questions about the roles and responsibilities of a business development

When working as a business development, the most common skills you will need to perform your job and for career success are Excellent Organizational, Excellent Communication, Microsoft Office Suite, VERBAL Communication, and CRM.

The most similar professions to business development are:
  • Business Development Manager
  • Business Development Executive
  • Business Development Associate
  • Software Engineer

The most common qualifications to become a business development include a minimum of a Bachelor's Degree and an average of 0 - 1 years of experience not including years spent in education and/or training.