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What is a vice president, business development and how to become one
A vice president of business development is an individual who is responsible for leading a company’s pursuit of new business opportunities. They develop and implement strategies to increase a company's revenue by identifying potential customers, building relationships with key stakeholders, and negotiating deals. They work closely with other executives and department heads. The role requires excellent communication skills, as well as a deep understanding of the industry in which the company operates.
Avg. Salary $165,159
Avg. Salary $59,228
Growth Rate 6%
Growth Rate 0.3%
American Indian and Alaska Native 0.65%
Asian 7.73%
Black or African American 3.79%
Hispanic or Latino 7.86%
Unknown 3.90%
White 76.08%
Genderfemale 18.71%
male 81.29%
Age - 52American Indian and Alaska Native 3.00%
Asian 7.00%
Black or African American 14.00%
Hispanic or Latino 19.00%
White 57.00%
Genderfemale 47.00%
male 53.00%
Age - 52Stress level is very high
7.1 - high
Complexity Level is advanced
7 - challenging
Work Life balance is poor
6.4 - fair
What are the pros and cons of being a Vice President, Business Development?
Pros
High salary and potential for bonuses
Good opportunities for networking and building relationships with clients
Ability to lead and shape the direction of the company's growth strategy
Exposure to senior leadership and decision-making processes
Variety in day-to-day work, including market analysis, client meetings, and internal strategy discussions
Cons
High pressure and long hours, including weekends and evenings
High levels of competition and pressure to meet revenue targets
Need to balance client demands with internal priorities and resources
Limited control over external market conditions and economic factors impacting the business
Potential for conflicts with other departments or team members over priorities or resources
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Vice President, Business Development career paths
Key steps to become a vice president, business development
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Start to develop specific vice president, business development skills
Skills 
Percentages Healthcare 11.13% Business Strategy 5.89% Revenue Growth 5.32% Financial Services 4.99% Business Development 4.63% Research vice president, business development duties and responsibilities
- Prospect new business, qualify leads, present to c-level executives and close business.
- Develop leads, prospect and set executive level meetings for high end networking events with c-level executives.
- Identify RFP opportunities, manage coordinated team response and submit winning proposals.
- Lead CRM conversion, including new software implementation, data-collection methods and development of a category-specific sales focus.
Get vice president, business development experience
Generally, it takes more than 10 years to become a vice president, business development. The most common roles before becoming a vice president, business development include vice president, business development director team lead and account executive.Prepare your vice president, business development resume
When your background is strong enough, you can start writing your vice president, business development resume.
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Apply for vice president, business development jobs
Now it's time to start searching for a vice president, business development job. Consider the tips below for a successful job search:
- Browse job boards for relevant postings
- Consult your professional network
- Reach out to companies you're interested in working for directly
- Watch out for job scams
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Average vice president, business development salary
The average Vice President, Business Development salary in the United States is $165,159 per year or $79 per hour. Vice president, business development salaries range between $104,000 and $262,000 per year.
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Vice President, Business Development reviews
Rule of thumb with international travel is be ready for serious jet-lag!
rule of thumb with international travel is to have jet-lag non-stop!
Independence in decision making
I am responsible for everything be it any side of the business
Innovating a business model is key for a profitable business and growth. Without a proper and sustainable business model, even the best product or technology innovations will not flourish. Learn the skills and knowledge needed to start improving your business as you learn through real-life examples from fellow entrepreneurs, innovators and leading experts on business model innovation. Benefit business owners, entrepreneurs, business consultants or business developers who seek better understanding of business models and the tools to develop them.
There's nothing much not to like about this role.
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Updated January 8, 2025
