They work to increase sales, revenue growth and market share by building and maintaining relationships with clients, developing marketing strategies and analyzing market trends. This role requires excellent communication skills, both verbal and written, as well as the ability to lead and motivate a team. A successful Business Development Manager should possess a strong understanding of the industry, competitors, and target audience. They should be skilled in negotiation, problem-solving, and have a results-driven mindset. The job also requires staying up-to-date with the latest industry trends and technologies. The average Business Development Manager salary in Singapore is S$174,121 as of March 23, 2021, but the range typically falls between S$136,963 and S$224,494.
Assistant Professor of Marketing, Dahlkemper School of Business
They are in charge of creating effective business plans to generate more revenue, increase brand loyalty, and improve customer satisfaction. The average Business Development Manager salary in Germany is €111,505 as of March 23, 2021, but the range typically falls between €93,920 and €142,581. Salary ranges can vary widely depending on many important factors, including education, certifications, additional skills, the number of years you have spent in your profession. A Business Development Manager job description in the marketing industry involves identifying and pursuing new Software testing business opportunities.
- They identify new market opportunities and build relationships with potential clients.
- Understanding these ranges helps candidates set realistic expectations.
- These additional perks play a significant role in overall earning potential.
- The average Business Development Manager salary in Singapore is S$174,121 as of March 23, 2021, but the range typically falls between S$136,963 and S$224,494.
How much does a business development manager make?
In many cases, commissions are tied to specific sales figures or new business secured. These variable compensation elements can significantly boost total take-home pay, aligning personal success with company objectives. Bonuses, commissions, and incentives offer substantial earnings opportunities. They often motivate Business Development Managers to exceed their targets.
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Salary.com provides trusted global salary data in over 100 countries to organizations like yours to attract and retain top talent. Our data covers more than 25,000 unique job titles over 8,000 organizations. Agencies also help candidates by matching them with suitable roles and negotiating competitive salaries. The lower cost of living compared to London balances the slightly reduced pay. Managers in these cities enjoy a good quality of life alongside their professional roles.
Step 1: Understand the job description and responsibilities of a Business Development Manager
The development manager might need to partner with an internal sales team or sales coordinator in order to implement new growth strategies. Compare salaries for individual cities or states with the national average. Finally, we’ll look at the additional components of a Business Development Manager’s total compensation package. Having a network of connections and having demonstrated financial success in previous roles is also a plus when it comes to being hired as a Business Development Manager.
Business Development Manager salary trends
As professionals gain more experience and skill, they often see their salaries rise. Moving from entry-level roles to senior positions can lead to Business Development Manager for AI Educational Platforms job substantial increases. They connect qualified candidates with potential employers, especially in competitive fields. For Business Development Managers, these agencies provide valuable insights and guidance.
Recent Business Development Manager salaries in US
The average business development manager salary has risen by $18,542 over the last ten years. In 2014, the average business development manager earned $82,227 annually, but today, they earn $100,769 a year. That works out to a 8% change in pay for business development managers over the last decade.