What Does a Business Development Manager Do?

Key takeaways

Business development managers identify sales leads, pitch these leads to their company’s client list, and build customer relationships. 

• Business development managers earn a median total pay of $152,000 [1].

• Becoming a business development manager typically requires earning a degree, gaining relevant experience, and developing technical skills. 

• You can pursue a bachelor’s degree in business administration to prepare for a role as a business development manager.

Learn more about what business development managers do, the key skills and experience you'll need to succeed in this career path, and the steps to preparing for this role. Afterward, if you're interested in getting started right away, consider enrolling in the University of Virginia's Business Strategy Specialization, where you'll have the opportunity to learn how to evaluate industry evolution, formulate and assess business strategies, build and sustain competitive advantage, and align your efforts to organizational strategy in as little as four weeks. Upon completion, you’ll have a shareable certificate for your resume or LinkedIn profile. 

What is a business development manager?

As an advanced member of the sales team, a business development manager (BDM) helps identify leads, expands into new markets or opportunities, offers proposals to new clients, and builds relationships with customers and co-workers alike. BDMs are key members of the go-to-market (GTM) team. They are responsible for building lists of sales leads and then pitching to these prospects to build the company’s client list. In sales lingo, they help move people from the top of the sales funnel to the goal of being a signed customer.

The business development role uses many business skills, including strategic planning, project management, and successful negotiation.

What does a business development manager do?

While the responsibilities of a business development manager will vary depending on the company and the industry, you might expect your tasks to include:

• Identify opportunities: Find target markets for your organization’s products and services.

• Generate leads: Cold call prospective clients and network at trade shows.

• Develop relationships: Nurture key customer accounts.

• Keep up with industry developments: Monitor market positioning of competitors.

• Assess client needs: Ensure the company can meet these needs.

• Follow up: Engage leads and referrals from the sales team.

• Prepare status reports: Track goals and progress.

Successful business development managers often move into more senior business development and sales management roles.

Why pursue a career as a manager in business development?

A career as a business development manager may be a good fit for someone who is outgoing, interested in sales strategies, and enjoys working with people and creating new connections.

Good business development managers love the challenge of prospecting and are able to accept rejection with grace. They view each “no” as putting them a step closer to a “yes.” They also enjoy being part of a team that builds and executes a business growth strategy.

Business development manager salary

According to Glassdoor, business development managers in the United States make a median total pay of $152,000 [1]. This figure includes base salary and additional pay, which may represent profit-sharing, commissions, bonuses, or other compensation. Salaries can also vary depending on the industry, location, and amount of experience you have. 

How to become a business development manager

Follow these 5 steps to become a business development manager. 

1. Consider a degree. 

According to Zippia, 73.6 percent of business development managers have a bachelor's degree [2]. A common major is business administration, which can provide foundational knowledge of decision-making, data analysis, innovation, and entrepreneurship. 

Depending on the company and the types of roles you'd like to advance to, a master's degree may be beneficial.

2. Gain relevant experience. 

It helps to have experience with the selling process. For example, as an entry-level retail sales associate, your responsibilities might include guiding customers through their purchase decisions all the way to the point of sale. As an outside sales representative position, your responsibilities might include reaching out to prospects, demonstrating products, and securing new customer accounts. 

Other key areas of experience include strategic planning, business management, and successful negotiation.

Read more: 6 Entry-Level Sales Jobs and How to Get One

3. Develop technical skills. 

Technical skills that can lead to success as a business development manager include project management, navigating Microsoft 365, and conducting search engine research. 

With the increasing need for secure information systems and robust use of data to guide decisions, you may find that specialized training in cybersecurity and data analytics gives you an edge as a business development manager. In addition, mastering customer relationship management (CRM) software can prepare you for a business development manager position, especially in larger organizations.

Read more: What Is Data Analysis? (With Examples)

4. Enhance your resume. 

As you gain experience, skills, and education, it’s important to update your resume continually. Scour business development manager job listings to find out what companies are looking for. Highlight the qualifications that match job requirements and feature them prominently on your resume. 

Use action verbs to describe tasks you performed in previous roles, and when possible, emphasize any quantifiable outcomes.

5. Find your first business development manager position. 

With qualifications and an updated resume in hand, the next step is to begin applying for business development manager jobs you’re interested in. Which ones will contribute to the lifestyle you desire? In which of these positions will you get to work on projects and tasks that excite you? What do you admire about the companies that are posting business development manager job openings? 

As recruiters and hiring managers reach out to you to schedule interviews with companies, take time to improve your interviewing skills. You’ll want to be able to answer behavioral questions effectively using the STAR method, as well as prepare to ask your interviewer insightful questions so that you can make the best decision for your career. 

Is a BDM higher than a sales manager?

A business development manager's role is usually higher than a sales manager's. While business development focuses on cultivating client relationships and new opportunities, sales focuses on generating revenue. Generally, business development management requires more advanced sales management skills. In some cases, a BDM may work as a sales manager before advancing to this position. 

Discover free resources for your business career

Subscribe to Career Chat, our LinkedIn newsletter, to stay on top of career tips and industry trends. Then, check out these resources related to a career in business:

• Learn from an expert: Future-Proofing Your Business Strategy with GenAI

• Watch on YouTube: Highest Paying Sales Jobs: Where Big Earnings Meet Big Deals 

• Research emerging trends: Business Professionals and GenAI: Saving Time and Increasing Performance

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