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What is a Business Development Manager and How to Become One

By Oluwadamilola Osisanya

Published: February 16, 2024

In the ever-evolving world of business, the role of a Business Development Manager (BDM) is crucial for driving growth and fostering strategic partnerships. If you’re passionate about shaping business trajectories and forging impactful connections, but unsure what a Business Development Manager does, read on. This article offers actionable insights to demystify the path to success in this dynamic field. 

Career Summary

Business development manager salary.

The business development manager salary varies widely depending on experience, industry, and geographic location.

Here are the average business development manager salary figures from Glassdoor .

• Entry-Level : US$ 98,000
• Median : US$ 129,000
• Senior : US$ 174,000

When compared to the national average, which is $59,428 according to Forbes , all business development managers receive a high salary .

What is a Business Development Manager?

A business development manager is a pivotal role within an organization, tasked with the primary objective of driving business growth . Business development managers are strategic thinkers who understand the intricacies of their company’s market and industry, using this knowledge to position their company for expansion and success.

What does a Business Development Manager do?

A business development manager plays a crucial role in the growth and expansion of a company. They are tasked with identifying new business opportunities, whether that means new markets, new partnerships with other businesses, new ways to reach existing markets, or new product or service offerings to meet the needs of existing markets better. 

But what does a business development manager do on a day-to-day basis? They strategize to improve the company’s financial growth, negotiate and close business deals, and foster and develop relationships with customers, suppliers, and other partners.

Business Development Manager Career Progression

• Junior Business Development Representative : In this role, your focus will be on prospecting new clients and markets, supporting senior business development staff, and learning the basics of sales and marketing strategies.
• Business Development Representative : Builds on the foundation of the junior role, and you will take on more responsibility for initiating and nurturing client relationships, qualifying leads, and contributing to sales strategies.
• Business Development Manager – In this key role, you will be responsible for identifying and securing new business opportunities, developing strategic partnerships, and managing relationships with key clients. Involves collaboration with other departments to align business growth efforts with company goals.
• Senior Business Development Manager : With increased experience, you will take on larger, more complex deals, lead business development teams, and contribute to strategic planning at higher levels. 
• Business Development Director : You will be involved in overseeing the business development department and setting goals, strategies, and policies. You will also be responsible for major accounts management, strategic partnership development, and contributing to the company’s overall strategy and growth.
• Vice President of Business Development : This is an executive role involving high-level strategic planning and decision-making. You will lead company-wide business development initiatives and explore new markets, 
• Chief Business Development Officer (CBDO) : At the top of the career ladder, the CBDO is responsible for the overall business development strategy of an organization. 

Best Aspects of Working as a Business Development Manager

• High potential for career growth and progression within the company.
• Significant role in shaping the strategic direction of the business.
• Chance to work closely with senior management and influence decision-making.
• Competitive salary with performance-based bonuses and incentives.
• Flexibility in work schedule and potential for travel.

Worst Aspects of Working as a Business Development Manager

• High levels of stress due to constant pressure to meet growth targets and deadlines.
• Frequent rejection when pitching to potential clients or partners.
• Intense competition, both within the industry and sometimes within the same organization.
• Difficulty in balancing the need for immediate results with the development of long-term strategies.
• Requirement to constantly adapt to changing market conditions and business strategies.

Essential Business Development Manager Skills

• Strategic Thinking
• Communication Skills
• Analytical Abilities
• Sales Expertise
• Project Management

Popular Business Development Manager Specialties

• Technology and Software
• Healthcare and Pharmaceuticals
• Financial Services
• Energy and Resources
• Consumer Goods and Retail

How to Become a Business Development Manager

Achieving success as a business development manager hinges on a blend of formal education and hands-on experience, laying a foundation for strategic thinking and real-world problem-solving.

Education plays a pivotal role in shaping the foundational skills and knowledge necessary for a successful career as a business development manager.

Do I need a Degree to Become a Business Development Manager?

Yes, a degree is generally required to become a business development manager . Most employers look for candidates with a bachelor’s degree in business administration, marketing, finance, or a related field as a minimum educational qualification. 

This foundational education equips individuals with the necessary knowledge of business principles, market analysis, and strategic planning, which are crucial for identifying and leveraging business opportunities. 

While it’s possible to progress in this career through extensive work experience and skills development, a degree significantly enhances your prospects and may be a prerequisite for many positions.

Why is it Important to get a Degree in Business Administration?

Obtaining a degree in business administration is crucial due to the comprehensive understanding it provides of the business world. 

This degree equips individuals with essential skills in strategic planning , market analysis, financial management, and operational efficiencies—core competencies necessary for identifying and capitalizing on new business opportunities. 

It also lays a solid foundation in business principles and practices, enhances problem-solving and decision-making capabilities, and prepares individuals to navigate the complexities of business growth and development strategies effectively. 

Moreover, the degree offers valuable networking opportunities, access to industry insights, and the credibility often required by employers in this competitive field, significantly enhancing one’s career prospects in business development.

How Long Does it Take to Get a Degree in Business Administration?

Earning a Bachelor’s Degree in business administration, which is crucial for aspiring business development managers, generally involves a four-year study period for those enrolled full-time. 

This degree encompasses a comprehensive curriculum focused on key business areas like marketing, finance, management, and economics. It lays the foundational knowledge needed for a successful career in business development.

For individuals targeting higher-level positions or seeking to deepen their expertise, pursuing a Master of Business Administration (MBA) is a common next step. An MBA usually requires an additional two years of full-time study after obtaining a bachelor’s degree. 

Nonetheless, the duration can vary based on the program structure, such as accelerated or part-time options, which might adjust the completion timeline.

How Much Does It Cost to Study Business Administration at University?

Understanding the cost of studying business administration is crucial for aspiring business development managers, as it forms the foundation of their career path. Pursuing a degree in business administration is a significant investment, with expenses varying based on the choice of institution and the student’s residency status.

For those considering an undergraduate program, average tuition and fees can be expected to be around $9,243 annually for individuals who qualify as state residents at public universities. However, students from outside the state can anticipate costs of approximately $25,950 per year at the same institutions. 

For individuals aiming to enhance further their qualifications through graduate studies, the financial considerations slightly shift. State residents attending public universities can expect to spend about $10,867 on average for tuition and fees, whereas out-of-state students may face charges of around $19,485. 

These figures underscore the financial commitment required to pursue advanced education in business administration, laying the groundwork for a career as a business development manager.

Can I Become a Business Development Manager through Online Education?

Yes, you can become a business development manager through online education . Online programs offer flexibility and accessibility, making it possible for individuals to acquire the necessary knowledge and skills while balancing other commitments. 

Many reputable institutions provide online bachelor’s and master’s degree programs in business administration, marketing, finance, or related fields, which are essential for a career in business development. 

These programs typically cover core business principles, strategic planning, market analysis, and other relevant topics that prepare students for the challenges of business development roles. Additionally, online education can also facilitate networking opportunities through virtual events and forums, allowing students to build connections that are valuable for career advancement. 

To enhance your prospects further, consider complementing your online degree with relevant work experience, internships, and professional certifications, which can be pursued alongside or after completing your online studies.

What are Some Web Resources to Learn Skills to Become a Business Development Manager?

To learn the necessary business development manager skills, you can explore a variety of web resources that offer educational content, industry insights, and professional development opportunities.

Here are some valuable resources:

• National Business Development Association (NBDA) : Focuses on sharing best practices and identifying and developing professional skills crucial for business development.
• BIZDEV: The International Association for Business Development and Strategic Partnerships : Provides education, networking, and professional development opportunities geared towards business growth and strategic partnerships.
• Business Professionals of America (BPA) : While more broadly focused, BPA offers skill development and networking opportunities that can benefit those interested in business development.

Practical Experience

Practical experience is the cornerstone of success in becoming a business development manager, providing the real-world insights and skills essential for navigating complex market dynamics and fostering strategic partnerships.

What are Internship Opportunities for a Business Development Manager?

Here are some common internship opportunities for individuals aspiring to become business development managers:

• Sales and Marketing Internship : Many companies offer internships in sales and marketing departments where interns can learn about customer acquisition strategies, market research, lead generation, and sales techniques.  These internships provide valuable experience in client interaction and relationship building, which are essential skills for business development roles.
• Business Strategy Internship : Internships focused on business strategy often involve analyzing market trends and competitive landscape and conducting industry research. Interns may assist in developing business plans, identifying growth opportunities, and evaluating potential partnerships or acquisitions.
• Market Research Internship : Market research internships involve gathering and analyzing data on customer preferences, market trends, and competitor activities. Interns may conduct surveys, interviews, and data analysis to provide insights that inform business development strategies.
• Partnership Development Internship : Internships in partnership development involve identifying and establishing relationships with potential partners, such as suppliers, distributors, or complementary businesses. 
• Product Management Internship : Product management internships focus on understanding customer needs, developing product strategies, and overseeing the product development process. Interns may assist in market research, product planning, and collaborating with cross-functional teams to bring products to market.
• Startup Internship : Interning at a startup can provide hands-on experience in various aspects of business development, including sales, marketing, strategy, and operations. Startups often offer interns the opportunity to work closely with founders and gain exposure to the fast-paced, dynamic environment of early-stage companies.
• Consulting Internship : Consulting firms often offer internships where individuals work on projects for client companies across different industries. Business development interns in consulting may be involved in market analysis, competitive benchmarking, and developing growth strategies for clients.
• Corporate Development Internship : Corporate development internships focus on supporting corporate growth initiatives, such as mergers and acquisitions, strategic partnerships, and investments. Interns may assist in conducting due diligence, financial analysis, and strategic planning for corporate development activities.

What Skills will I Learn as a Business Development Manager?

As a business development manager, you will develop a diverse set of skills that are essential for identifying opportunities, building relationships, and driving growth for a company.

Here are some key business development manager skills you can expect to learn:

• Strategic Planning : You’ll learn to develop and execute strategic plans to expand the company’s customer base, enter new markets, and achieve revenue targets.
• Market Analysis : Understanding market trends, customer needs, and competitor activities is crucial. You’ll learn how to conduct market research and analysis to identify opportunities and make informed decisions.
• Sales and Negotiation : Business development managers often lead sales efforts and negotiate deals with clients, partners, and suppliers. You’ll develop skills in sales techniques, pitching, and contract negotiation.
• Relationship Building : Building and maintaining relationships with clients, partners, and stakeholders is essential for success. You’ll learn how to cultivate strong relationships based on trust, communication, and mutual benefit.
• Networking : Networking skills are crucial for expanding your professional network and identifying business opportunities. You’ll learn how to leverage networking events, industry conferences, and online platforms to connect with potential partners and clients.
• Communication : Effective communication is key in business development, whether it’s presenting proposals to clients, negotiating deals, or collaborating with internal teams. You’ll develop skills in verbal and written communication, including persuasion and presentation skills.
• Analytical Skills : Analyzing data and metrics to evaluate the performance of business development initiatives and make data-driven decisions is essential. You’ll learn how to interpret financial reports, sales data, and market research findings.
• Project Management : Business development managers often oversee complex projects involving multiple stakeholders. You’ll learn how to plan, organize, and execute projects efficiently to achieve desired outcomes.
• Problem-solving : Business development involves overcoming challenges and finding innovative solutions to achieve business objectives. You’ll develop strong problem-solving skills and the ability to think creatively.
• Adaptability : Business environments are dynamic and constantly evolving. You’ll learn to adapt to changes in the market, industry trends, and company priorities to stay competitive and seize new opportunities.

What is the Work-Life Balance of a Business Development Manager?

The work-life balance of a business development manager can vary significantly depending on the industry, company culture , and individual workload. Business development managers often face high-pressure situations, tight deadlines, and the need to meet ambitious sales targets, which can lead to long hours and occasional periods of intense work. 

Additionally, extensive travel may be required to meet with clients, attend conferences, and explore new market opportunities. However, many business development managers also enjoy flexibility in their schedules, autonomy in managing their workload, and the opportunity to work remotely. 

Achieving a healthy work-life balance in this role often requires effective time management, setting boundaries, and prioritizing tasks to ensure both professional success and personal well-being.

What’s the Career Outlook for a Business Development Manager?

The career outlook for business development managers in the USA is promising. Zippia reported that employment of business development managers is projected to grow 10% from 2018 to 2028 , which is faster than the average for all occupations. This translates to about 33,700 job openings over the decade​. 

What are the Job Opportunities of a Business Development Manager?

A business development manager (BDM) typically plays a crucial role in identifying new business opportunities, building strategic partnerships, and expanding a company’s client base.

Here are some common job opportunities for individuals with experience and skills in business development:

• Sales Manager/Director : BDMs often transition into sales management roles where they oversee a team of sales representatives, set sales targets, develop sales strategies, and manage client relationships.
• Marketing Manager/Director : With their understanding of market trends and customer needs, BDMs may move into marketing management positions where they lead marketing campaigns, conduct market research, and develop marketing strategies to promote products or services.
• Product Manager : BDMs with a strong understanding of market demands and customer feedback may transition into product management roles where they are responsible for overseeing the development and launch of new products or services.
• Strategic Partnership Manager : BDMs skilled at building relationships and negotiating deals may pursue roles focused on forming strategic partnerships with other companies or organizations to drive mutual business growth.
• Business Consultant/Advisor : Experienced BDMs may choose to work as independent consultants or advisors, offering their expertise to businesses seeking guidance on market expansion, sales strategies, or partnership opportunities.
• Entrepreneur/Startup Founder : BDMs with an entrepreneurial spirit may choose to start their businesses or join startups, leveraging their skills in business development to establish and grow new ventures.
• Corporate Development Manager : In larger corporations, BDMs may transition into corporate development roles where they focus on mergers, acquisitions, and strategic alliances to drive corporate growth and expansion.
• International Business Development Manager : BDMs with experience in global markets may pursue opportunities focused on expanding business operations internationally, including market entry strategies, localization efforts, and global partnership development.
• Customer Success Manager : Some BDMs may transition into customer success roles where they are responsible for ensuring customer satisfaction, retention, and loyalty by providing ongoing support and identifying opportunities for upselling or cross-selling.

What Type of Companies Hire a Business Development Manager?

Business development managers (BDMs) are sought after by a wide range of companies across various industries.

Here are some types of companies that commonly hire BDMs:

• Technology Companies : Software companies, IT services firms, and startups in the tech industry often hire BDMs to identify new business opportunities, form strategic partnerships, and drive sales growth.
• Consulting Firms : Management consulting firms and advisory companies frequently employ BDMs to expand their client base, develop new service offerings, and secure contracts with businesses seeking consulting services.
• Manufacturing Companies : Manufacturing firms hire BDMs to identify new markets for their products, establish distribution channels, and negotiate contracts with distributors or retailers.
• Financial Services Firms : Banks, insurance companies, investment firms, and other financial services providers often employ BDMs to acquire new clients, promote financial products, and expand their market share.
• Healthcare Organizations : Hospitals, pharmaceutical companies, medical device manufacturers, and healthcare startups may hire BDMs to explore new business opportunities, forge partnerships with healthcare providers, and drive sales of healthcare products or services.
• Real Estate Companies : Real estate developers, property management firms, and real estate agencies often hire BDMs to identify potential real estate projects, negotiate deals with property owners or investors, and drive business growth.
• Hospitality and Tourism Industry : Hotels, resorts, travel agencies, and tour operators may employ BDMs to attract new customers, develop strategic partnerships with travel agents or corporate clients, and expand their market presence.
• Retail Companies : Retailers, e-commerce businesses, and consumer goods companies hire BDMs to identify new distribution channels, negotiate contracts with wholesalers or retailers, and develop strategies to increase sales.
• Telecommunications Companies : Telecommunications providers and technology firms in the telecom sector often hire BDMs to identify opportunities for new products or services, forge partnerships with other companies, and expand their customer base.

Should I Become a Business Development Manager?

Deciding to pursue a career as a business development manager is a significant step that requires careful consideration of the factors discussed throughout this article. 

As we’ve explored, the role of a business development manager is complex and multifaceted, involving a blend of strategic analysis, relationship building, and innovative thinking to drive business growth. It’s a position that demands not only a deep understanding of the business landscape but also a unique set of skills and personal attributes.

Before making the decision, it’s crucial to reflect on your interests and skills. Do you thrive in dynamic, fast-paced environments? Are you passionate about identifying and pursuing new business opportunities? Do you have strong analytical abilities combined with excellent communication and interpersonal skills? If your answers lean towards a yes, then a career in business development could be a fulfilling path for you.

Careers Related to Business Development Manager

• Account Manager
• Business Analyst
• Business Development Representative
• Business Operations Manager
• Marketing Manager

About the Author

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Those interested in helping businesses develop long-term relationships with clients may be drawn to a career in business development. Business development managers play a crucial role in the success of an organization. These professionals generate new sales leads, negotiate client pricing, and forecast sales revenue, all to support one of the most important business development manager responsibilities — helping organizations maximize their profits.

Business development managers must evaluate current sales performance and identify ways an organization can expand and grow. Consequently, this career is an ideal choice for those who are self-motivated, goal-oriented, and commission-driven. Students seeking a career in business development should start by building the knowledge and skills they’ll need to be successful. Earning an advanced degree, such as  Maryville University’s online Master of Arts in Management and Leadership , can prepare graduates for business development manager positions in a variety of fields.

Work Settings for Business Development Managers

Most business development managers work full time, Monday through Friday, but their work environments may vary. Some business development managers work in an office, some work entirely from home, and others split their time between the two. In addition, professionals in this field often travel for conferences, conventions, and client meetings.

Business development managers work in a number of industries, including:

• Software and hardware
• Construction
• Financial services

What  Do Business Development Managers Do?

Although the responsibilities of a business development manager may vary by industry, many day-to-day duties are uniform. Some of those include:

• Setting goals and developing plans for business and revenue growth
• Researching, planning, and implementing new target market initiatives
• Researching prospective accounts in target markets
• Pursuing leads and moving them through the sales cycle
• Developing quotes and proposals for prospective clients
• Setting goals for the business development team and developing strategies to meet those goals
• Training business development staff
• Attending conferences and industry events

Fundamental Skills for Business Development Managers

Aspiring business development managers need a variety of hard and soft skills. Examples include communication, organizational, time-management, and technical and computer skills, as well as drive and self-motivation.

• Communication  skills:  Business development managers must be able to communicate with clients of all backgrounds and educational levels. Well-developed written and verbal communication skills are must-haves for professionals who work in this field.
• Organizational  skills:  Professionals who choose this career path must be comfortable juggling numerous clients, on- and off-site meetings, and deadlines. Individuals who are highly organized are best equipped to manage the many parts of the job and keep client proposals and other tasks on track.
• Time -management skills:  Business development managers must understand how to prioritize their time. Individuals who work in this field must be comfortable managing a calendar and adjusting their schedule as needed.
• Technical and  computer skills:  Most organizations use a sales content management system (CMS) to track leads and client calls and document where each prospect is in the sales cycle. Aspiring business development managers must have basic technical and computer skills.
• Drive and  self-motivation:  The most successful business development managers are goal-oriented and commission-driven. Professionals who have drive and motivation will push themselves to succeed.

Salary Range for Business Development Managers

PayScale reports the median salary for business development managers in July 2020 was around $73,000. Earners in the bottom 10% of the salary range made around $45,000, while those in the top 10% made around $122,000. Most compensation packages for business development managers consist of a base salary plus commission.

In addition to a business development manager’s responsibilities, other factors impacting earnings include the industry, the geographic location of the job, and the employee’s level of experience. It should also be noted that individuals who have earned an advanced degree, such as an  online Master of Arts in Management and Leadership , may receive additional compensation.

Your Path Toward a Career as a Business Development Manager Starts at Maryville

Professionals looking to take their career to the next level may find that earning an advanced degree, such as Maryville University’s  online Master of Arts in Management and Leadership , can help them achieve their goal. This dynamic program is designed to provide students with a strong foundation in business while developing their problem-solving, critical-thinking, and leadership skills. The curriculum includes classes in business ethics, project management, leadership, and management policies as well as courses for specialized concentrations.

Are you ready to take the first brave step toward a career as a business development manager? Learn how Maryville’s  online Master of Arts in Management and Leadership  program can help prepare you for the job you want.

Recommended Reading

Halfway to the Top: Career Advancement for Mid-level Employees

Soft Skills: Why Businesses Crave Them

6 Tips for Conducting International Business

Betterteam, Business Development Manager Forbes , “New to Business Development? 10 Hot Industries to Join Right Now” Houston Chronicle , “Difference Between a Business Development Manager & a Sales Manager”

Indeed, Learn About Being a Business Development Manager

PayScale, Average Business Development Manager Salary

Robert Half, Business Development Manager Job Description Guide

U.S. Bureau of Labor Statistics, Sales Managers

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Education Requirements for Business Development Managers

Getting started as a business development manager.

• What is a Business Development Manager
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Do You Need a Degree to Become a Business Development Manager?

Educational backgrounds of business development managers, a glimpse into the educational profiles of business development managers, emerging educational trends and the value of diverse experiences, essential education and skills for aspiring business development managers.

• Business Acumen: A solid understanding of business principles, either through formal education or practical experience, is crucial.
• Market Research and Analysis: Skills in these areas can be developed through courses in marketing, economics, or through hands-on industry experience.
• Communication and Negotiation: These skills are often honed in social sciences, communications, or through active involvement in sales or customer service roles.

Charting a Course in Business Development: Education and Beyond

• Industry Knowledge: Gaining expertise in a specific industry can be as valuable as formal education, providing insight into customer needs and competitive landscapes.
• Professional Networking: Building a robust professional network can offer mentorship opportunities and insights into best practices in business development.
• Continued Professional Development: Staying abreast of the latest trends, tools, and techniques through workshops, certifications, and seminars is key to maintaining a competitive edge.

The Bottom Line: A Spectrum of Educational Paths

Most common degrees for business development managers, business administration, finance or economics, international business, communications, popular majors for business development managers, entrepreneurship, popular minors for business development managers, information technology, communication, why pursue a degree for a business development manager career, networking and professional development in business development management, facilitating career transition and advancement, what can you do with a degree in business development management, degree alternatives for a business development manager, professional sales and business development certifications, industry networking and conferences, online learning platforms and moocs, apprenticeships and internships, self-directed learning and personal branding, navigating a business development manager career without a degree, gain sales and marketing experience, develop a robust professional network, learn from online courses and workshops, understand your industry inside and out, build a track record of success, embrace entrepreneurial thinking, seek out mentorship, volunteer for business development projects, education faqs for business development manager, do you need to go to college to become a business development manager, is it worth it to get a degree for a business development manager role, how important is continuous learning for a business development manager.

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Business development manager

As a business development manager, you'll identify new business opportunities in order to generate revenue, improve profitability and help the business grow

Your work can involve careful strategic planning and positioning in the appropriate markets, or enhancing the operation of the business, position or reputation in some way.

You may have a single role in the organisation or lead a team of staff. Your work will often reach across all areas of the business.

Types of business management

Business development can be applied to almost all types of business, but you may choose to specialise in a certain sector, such as:

• construction
• manufacturing
• telecommunications.

Alternatively, you may work across many different businesses, but with a specific focus on either:

• B2B (business to business)
• B2C (business to consumer).

Responsibilities

As a business development manager, you'll need to:

• research and identify new business opportunities - including new markets, growth areas, trends, customers, partnerships, products and services - or new ways of reaching existing markets
• seek out the appropriate contact in an organisation
• generate leads and cold call prospective customers
• meet with customers/clients face to face or over the phone
• foster and develop relationships with customers/clients
• understand the needs of your customers and be able to respond effectively with a plan of how to meet these
• think strategically - seeing the bigger picture and setting aims and objectives in order to develop and improve the business
• work strategically - carrying out necessary planning in order to implement operational changes
• draw up client contracts - depending on the size of company, this task may be completed by someone else or agreements may not be as formal
• have a good understanding of the businesses' products or services and be able to advise others about them
• ensure staff are on board throughout the organisation, and understand the need for change and what is required of them
• train members of your team, arranging external training where appropriate
• discuss promotional strategy and activities with the marketing department
• liaise with the finance team, warehousing and logistics departments as appropriate
• seek ways of improving the way the business operates
• attend seminars, conferences and events where appropriate
• keep abreast of trends and changes in the business world.

If your business development role is more sales orientated, you may also:

• help to plan sales campaigns
• create a sales pipeline
• negotiate pricing with customers, and suppliers in some cases
• increase sales of the business
• carry out sales forecasts and analysis and present your findings to senior management/the board of directors
• develop the business sales and marketing strategy.
• Your starting salary as a graduate business development manager will be in the region of £25,000 to £28,000.
• At mid-management level with several years' experience, you can expect to earn between £30,000 and £60,000, depending on the region and sector you work in.
• As a senior business development manager or business director, it's possible to earn around £80,000.

Salaries are affected by regional variances, and pay is generally higher in London and the South East. The sector you work in is also a determining factor.

It's common for bonuses to be paid and these can be very large, sometimes matching your annual salary. Some jobs will be advertised with 'uncapped commission'. Jobs are often advertised with a basic salary and a higher on-target earnings (OTE) figure. Other benefits may include a pension, healthcare scheme membership and company car.

Working hours

You'll usually work a regular 9am to 5pm, Monday to Friday week, though you may on occasion have to work longer to meet a project deadline or when attending an event or conference.

Flexible working and working from home may be possible.

What to expect

• You'll work in an office environment, but will frequently travel within the day for face-to-face meetings with customers and other business partners.
• It can be challenging trying to create new business opportunities, in addition to the constant pressure of meeting or exceeding targets. However, business development is quite a creative role and can be very satisfying.
• You may have the responsibility of managing a team and their output.
• You'll be expected to dress smartly, especially for meetings, though slightly more relaxed business casual attire may be acceptable at other times.
• Depending on the type of business, overnight or overseas travel may be required.

Qualifications

A degree is not essential for this role and some business development managers work their way up through an organisation, gaining experience in a sales or marketing role and undertaking work-based training.

Another increasingly common route into business development management is through an apprenticeship, combining work with part-time study. Apprenticeships are available at various levels, including degree-level.

As it's a competitive role with good prospects, many entrants do have a degree, and a degree is essential if you wish to apply for a place on a graduate training scheme.

Degrees in business development or business management are the most relevant. Other relevant subjects include:

• accountancy
• business studies
• international relations

A postgraduate degree is not a requirement for this career.

It's also possible to move into a business development manager role from related jobs such as commercial manager, account manager, sales executive, business development executive and sales manager.

You'll need to have:

• tenacity and drive to seek new business and meet or exceed targets
• an excellent telephone manner for making initial contact and for ongoing communication with customers and business associates
• interpersonal skills for building and developing relationships with clients
• written and verbal communication skills - needed for communicating with a range of people, both internally and externally, as well as presentation skills
• IT skills, including the use of spreadsheets
• teamworking skills and a collaborative approach to work
• decision-making skills
• the ability to multitask and prioritise your workload
• project management and organisational skills
• the ability to motivate yourself and set your own goals
• negotiating skills
• the ability to think strategically
• the ability to analyse sales figures and write reports
• a flexible approach to work with the ability to adapt to a fast-paced, ever-changing environment
• initiative and the confidence to start things from scratch.

The ability to speak a foreign language is an asset if you're dealing with overseas clients.

A full driving licence is a requirement for many roles.

Work experience

Work experience is important and can in some cases lead to permanent employment.

There may be opportunities on your degree to take a year out in industry or to do a shorter work placement. If your course doesn't include a placement, try contacting local businesses to ask for work experience opportunities.

Part-time or vacation work in a business that has a focus on business development and management is particularly useful, but any experience gained within sales, marketing or business administration will be good for your CV and skill set. It will also show future employers that you're serious about your career choice.

Find out more about the different kinds of work experience and internships that are available.

Business development managers are employed across the public, private and charity sectors, in all types of businesses and organisations.

Employers tend to be larger companies that can dedicate time and resources towards developing their business. In smaller companies, business development is usually carried out as a smaller function within a broader mix of responsibilities.

Common types of employers include:

• banks and other financial institutions
• education institutions
• IT companies
• manufacturing firms, and any business involved in the sales of products or services
• pharmaceutical companies
• telecommunications and technology firms
• the NHS and other healthcare providers.

Look for job vacancies at:

• CW Jobs (IT-related jobs)
• Engineering Jobs
• jobsgopublic

As well as sector specific job websites, national newspapers and general online job boards and job websites also advertise vacancies.

Check the jobs pages of the websites of any companies and organisations you're interested in, as current vacancies will usually be advertised there.

Recruitment agencies such as Reed and Michael Page also advertise business development manager jobs.

Professional development

Business development is a broad field, so there are many ways in which you can shape and develop your career according to your interests and ambition.

Much of your training will be on the job but there are also a huge number of relevant courses available, such as Level 2 and Level 3 courses in business principles, sales and marketing and sales management.

The ILM (Institute of Leadership and Management) has details of a range of relevant business, management and leadership qualifications and apprenticeships.

Other qualifications, networking opportunities, information, support and career guidance are available through membership of professional bodies, such as:

• Institute of Sales Management (ISM)
• The Chartered Institute of Marketing (CIM)

It's possible to switch between employers and sectors, perhaps specialising further, or moving to a larger organisation with a broader remit or international connections.

Ultimately, progression will be determined by your personal drive and aims. There's no specific structure, but you'll find many opportunities for gaining increased responsibility and, with it, an increase in salary.

Career prospects

Business management is carried out across many sectors, in most towns and cities and within many different types of organisation. As a result, there are many possibilities for career development.

You could choose to specialise in a particular sector, such as IT or healthcare, or in a particular area such as sales or marketing.

You may progress to the role of senior business development manager, perhaps being responsible for a bigger team or department, with higher targets. With enough experience, you could reach director level.

Working overseas is possible if you work for an international company. You may have the option of travelling and working for short periods in the overseas divisions of your company, or you could apply for a permanent overseas transfer or to a new company.

There are also opportunities to move into consultancy work, providing advice to a range of companies. You may also consider setting up your own business development consultancy.

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Transforming the Role of Business in Education

An intensive one-day conference hosted by FSG, the Shared Value Initiative, and Stanford Social Innovation Review  

October 29, 2014 8:00 a.m. – 5:00 p.m. paul brest hall munger building 4 555 salvatierra walk stanford, ca.

Click here to learn more about the Shared Value Initiative  

Event Hosts:  

Sponsor: .

Quick Links Program Overview  | Conference Sessions  | Schedule  | Confirmed Speakers |  What Your Conference Fee Includes | Facilities and Location | Lodging | Rates and Registration | Privacy Policy | Contact Information | Co-Sponsors and Partner

Program Overview

Companies across industries—including technology, financial services, agriculture, and more—are beginning to play a new role in education. These companies are tackling education issues through their core business strategy and operations. In doing so, they are finding new ways to become essential partners for schools, nonprofits, and governments in helping to raise levels of student and workforce achievement.

This one-day conference, hosted by the Shared Value Initiative, FSG, and Stanford Social Innovation Review , will bring together business, education, and nonprofit leaders eager to explore new models to help address the world's educational needs. Through this conference, attendees will:

• Explore trends driving companies to engage in education in a new way.
• Discover how business, nonprofits, schools, and governments can create partnerships that improve education at scale.
• Gain practical recommendations for how corporate, government, and civil society leaders can work together to create greater value for society.

To learn more about how companies can create shared value in education, click here .

Conference Sessions

Morning General Sessions

Keynote Address: Introducing the New Role of Business in Education Sir Michael Barber, Chief Education Advisor, Pearson

The opening keynote will explain why we’ve come together to discuss the new role of business in education. The keynoter will review how traditional corporate engagement in education has left value on the table for both business and society and illuminate the trends that are driving business to engage in education in a new way. He will then discuss how Pearson is making this shift and argue why this transformation is critical to meeting our global education needs.

Panel: Can Companies, Government, and Educators Create Shared Value in Education? Dr. James Applegate, Executive Director, Illinois Board of Higher Education; Karen Cator, CEO, Digital Promise; Dean Florez, President and CEO, The 20 Million Minds Foundation Moderator: Eric Nee, Managing Editor, Stanford Social Innovation Review

This panel will explore how business, government, and education leaders can work together to improve the effectiveness of education systems at scale. Speakers will discuss two distinct approaches to shared value creation— building the workforce of the future and innovating for student success—and why these models are particularly worthy of our attention. Speakers will weigh the benefits and trade-offs of these approaches, and offer recommendations for how to effectively leverage the power of business to help improve educational outcomes.

Afternoon Breakout Sessions (Running Concurrently)

Breakout Session I:  Innovating for Student Success Diane Tavenner, CEO, Summit Public Schools; James Bernard, Senior Director, Global Strategic Partnerships, Microsoft Education

This session will focus on the shift that education and technology companies around the world are making to deliver products and services that have a measurable, proven impact on learners’ lives. Speakers will discuss the benefits and challenges of adopting this approach, and explore what it will take for more companies to integrate student success into their business strategy moving forward. Audience members will then engage in small roundtable discussions to further unfold these questions, and the session will conclude with speaker Q&A.

Breakout Session II: Building the Workforce of the Future Suzanne Fallender, Director, Global Girls and Women Initiative, Intel Corporation; Eric Johnson, Workforce Development Lead, Office of Education, USAID

This session will focus on how companies can evolve from passive consumers of talent to catalysts for developing a skilled workforce—and, in doing so, increase employability and economic mobility in their communities. Speakers will discuss the key ingredients needed to undertake this shift, from taking a broader view of workforce needs, to building cross-sector collaboratives, to aligning curricula with the skills needed for employment. Audience members will then engage in small roundtable discussions to further unfold these questions, and the session will conclude with speaker Q&A.

Afternoon General Session

Plenary: A Call to Action Bill Goodwyn, CEO, Discovery Education; Dr. Juan "Kiko" Suarez, Vice President of Communications and Innovation, Lumina Foundation; Jamie McAuliffe, CEO, Education for Employment Moderator: Mark Kramer, Cofounder and Managing Director, FSG, and Senior Advisor, Shared Value Initiative

The afternoon plenary will offer a vision for how companies and their partners can open up entrepreneurial and innovative solutions to addressing educational issues and realize opportunities to impact education through new thinking, new business models, and cross-sector collaboration. The speakers will share their stories of creating quality education for all and answer questions from the moderator and audience.

Closing Keynote David L. Kirp, James D. Marver Professor of Public Policy, Goldman School of Public Policy, University of California Berkeley

Networking Reception and Cocktails We will end the day with an open reception for networking and knowledge sharing.

TOP OF PAGE

Wednesday, October 29, at Paul Brest Hall:

Confirmed Speakers

Dr. James L. Applegate, Executive Director, Illinois Board of Higher Education

Sir Michael Barber, Chief Education Advisor, Pearson

James Bernard,  Senior Director, Global Strategic Partnerships, Microsoft Education

Karen Cator, CEO, Digital Promise

Rick Cruz, Director, FSG

Suzanne Fallender, Director, Global Girls and Women Initiative, Intel Corporation

Dean Florez, President and CEO, The Twenty Million Minds Foundation

Bill Goodwyn, CEO, Discovery Education

Eric Johnson, Workforce Development Lead, Office of Education, USAID

David L. Kirp, James D. Marver Professor of Public Policy, Goldman School of Public Policy, University of California, Berkeley

Mark Kramer, Cofounder and Managing Director, FSG

Jamie McAuliffe, President and CEO, Education for Employment

Eric Nee, Managing Editor, Stanford Social Innovation Review

Dr. Juan "Kiko" Suarez, Vice President of Communications & Innovation, Lumina Foundation

Diane Tavenner, CEO, Summit Public Schools

Matt Wilka, Associate Director, FSG

What Your Conference Fee Includes

• A full day of sessions and networking in a beautiful conference center
• Delicious, primarily organic and locally grown food: Breakfast buffet, gourmet boxed lunch, afternoon networking reception
• A list of conference attendees with contact information
• Access to additional post-conference resources and photos on sharedvalue.org
• Free Wi-Fi at conference center
• Free shuttle from the Sheraton Palo Alto hotel and Caltrain to the conference location
• Discounted parking

Conference Facilities and Location

The program will be held at Paul Brest Hall, a state-of-the-art facility located on Stanford University's campus.  View a Google map of the Stanford campus with the conference venue pinpointed.

Stanford is located between San Francisco and San Jose in the heart of Silicon Valley. The campus's 8,100 acres reach from the rural foothills of the Santa Cruz Mountains to the Stanford Shopping Center in Palo Alto. Stanford is conveniently located between two major airports—25 miles south of San Francisco International Airport and 20 miles north of San Jose International Airport. Mass transit is available from both airports to the Stanford campus and area hotels: Find information about the free Stanford Marguerite Shuttle here. Find information about Caltrain here. Find information about Bay Area Rapid Transit (BART) here.

The campus and surrounding areas offer a myriad of opportunities for recreation and sightseeing. World-class shopping and dining are located only a mile away at the Stanford Shopping Center . A half hour drive north brings you to San Francisco . A two hour drive south brings you to Carmel-by-the-Sea , where you can take in breathtaking views of the Pacific Ocean. To find out more, visit Stanford’s Visitor Information Services .

The Sheraton Palo Alto The room block reserved for attendees at the Sheraton Palo Alto is no longer available. 

The Sheraton Palo Alto is conveniently located next to the Palo Alto Caltrain stop. Paul Brest Hall is a 30 minute walk or a short, free shuttle ride away by taking the Stanford Marguerite Shuttle "Y" from the Caltrain station (next to the Sheraton) to campus. View a list of other nearby lodging with a variety of price ranges. We do not have room blocks at these locations.

Conference Rates

Registration for this conference is now closed.

_________________________

Important Registration Dates July 22: Registration opens September 26: Early Bird rate deadline September 27: Regular rate begins October 22: Deadline to request refund with cancellation October 26: Last day to register online  

Transfers, Cancellations, and Refunds: A registration fee for the program may be transferred to another person one time with no penalty. A refund charge of twenty percent of the registration fee will be assessed for any cancellations received by October 22, 2014. Effective October 23, there will be no refunds for cancellation. Refund requests must be submitted in writing by October 22 and will not be processed until after the event. To speak to SSIR about transferring or cancelling your registration, please contact Devin Briski at [email protected] or call (650) 497-7620.  

Privacy Policy

Stanford Social Innovation Review,  FSG, and the Shared Value Initiative are committed to your right to privacy and to the ethical use of information online. We adhere strictly to the following privacy practices. We do not rent, sell, give, exchange, or otherwise share contact information with unrelated third parties.

This conference may be audio or video recorded, podcast, photographed, published, and archived. As such, participants and speakers grant  SSIR,  FSG, and SVI permission for recording and use of images.

Contact Information

If you have questions about registration, the program, or logistics: Devin Briski Stanford Social Innovation Review Email: [email protected] Phone: (650) 497-7620

Carrie Pogorelc Stanford Social Innovation Review Email: [email protected] Phone: (650) 724-3309

Co-Sponsors and Partner

FSG  is a mission-driven nonprofit organization specializing in research, strategy consulting, and evaluation. Through its field-building activities, such as the Shared Value Initiative and the Collective Impact Forum, FSG works to advance knowledge and practice among a global community of partners dedicated to accelerating social progress. Learn more at www.fsg.org .

The Shared Value Initiative is a global community of leaders who find business opportunities in societal challenges. Guided by FSG and a global network of funders, the Initiative was created in 2012 to drive the adoption and implementation of shared value strategies by organizations around the world. The Initiative connects practitioners in search of the most effective ways to implement shared value through four primary activities: peer-to-peer exchange; market intelligence; strategy & implementation; and advocacy. sharedvalue.org

Stanford Social Innovation Review ( SSIR ) is an award-winning magazine and website that covers cross-sector solutions to global problems. SSIR is written for and by social change leaders in the nonprofit, business, and government sectors who view collaboration as key to solving environmental, social, and economic justice issues. Published at the Stanford Center on Philanthropy and Civil Society, SSIR bridges academic theory and practice with ideas about achieving social change. SSIR covers a wide range of subjects, from microfinance and green businesses to social networks and human rights. Its aim is both to inform and to inspire. www.ssireview.org

Partner The Stanford Center on Philanthropy and Civil Society (Stanford PACS) develops and shares knowledge to improve philanthropy, strengthen civil society and effect social change.  Stanford PACS is a research center for students, scholars and practitioners to explore and share ideas that create social change. Its primary participants are Stanford faculty, visiting scholars, postdoctoral scholars, graduate and undergraduate students, and nonprofit and foundation practitioners.  As publisher of SSIR , Stanford PACS informs policy and social innovation, philanthropic investment, and nonprofit practice. pacscenter.stanford.edu

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