Business Development Director
Education and Training: Bachelor’s degree
Average Salary: $88,000
Job Outlook: Good
It is the job of a business development director to identify business opportunities for an organization. They are responsible for pursuing prospective clients and sales leads, for delivering presentations and proposals, and also for negotiating business deals and subsequently closing them. In short, they are responsible for generating more business and income for a firm.
In addition, a business development director must be able to develop business plans, and must be knowledgeable in marketing strategies and current market conditions. They have to have excellent communication skills in order to maintain good client relationships, and also to impart information to key staff.
It is a very skilled position which requires proficiency in a number of different areas. A business development director needs to be knowledgeable about finance, as the financial prosperity of the firm can lie within their hands. They need to be knowledgeable about sales and sales techniques, and must be a skilled negotiator. They have to be able to plan out the development of a firm and have to be able to analyze data.
Education and Training Requirements
A business development director will typically have at least a bachelor’s degree which is likely to be in business management or some other related field such as communication or public relations, although there is no specific degree required. A lot of directors also have a Master’s in business administration, and they will usually have at least five years’ experience within the industry. Many choose to specialize within a specific industry, and may even have extra qualifications relating to that industry, or may have gone on to attain extra management qualifications.
Getting the Job
Anyone wishing to become a business development director should make sure they have the necessary qualifications and experience to appeal to prospective employers. They should be able to prove that they can generate revenue, and that they have management experience. In addition they need to be excellent communicators and must be able to show that they have strong leadership skills. Additional desirable skills include a proven track record of sales ability, and good presentation skills.
Job Prospects, Employment Outlook and Career Development
The job prospects for a well-qualified business development director are good, and this is very much a senior management position. Exceptional business development directors could expect to move into more executive roles within an organization, and some could go on to more senior management roles within the firm or organization. Employment opportunities can be found in government, universities, hospitals, private firms, and charitable organizations.
Working Conditions and Environment
Working conditions for a business development director are comfortable in well-equipped offices. They may be required to attend meetings and seminars, and may sometimes need to travel for work, but will generally only be required to work regular office hours unless they need to meet a specific deadline.
Salary and Benefits
The average salary of a business development director varies according to the type of organization, as a private firm will pay significantly more than a non-profit or charitable organization. The average salary could be anything between $60,000 and $168,000.
The benefits for such a senior position are likely to be very good, and will include health and dental insurance, paid vacations, and contributions to retirement plans. Depending on the organization benefits may also include bonuses or profit-sharing.
Where to Go for More Information
American Management Association
1601 Broadway, 6th Fl.
New York, NY 10019
Institute for Certified Professional Managers
James Madison University
Harrisonburg, VA 22807
University of Missouri
Department of Communication
108 Switzler Hall
Columbia, MO 65211