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Business development manager

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Business development managers identify new business opportunities in order to generate revenue, improve profitability and help businesses grow

You'll take a strategic, long-term approach to identifying opportunities and creating value for the organisation. Your work can involve careful planning and positioning in the appropriate markets, building relationships and identifying potential partnerships, or enhancing the business's performance, position or reputation.

You may also research and develop new markets, products or services to meet emerging or untapped customer needs.

You may be the sole business development manager in a smaller organisation, work as part of a team, or lead a team of staff in a large organisation. Your work will often reach across all areas of the business.

What sectors do business development managers work in?

Business development managers can work across a range of sectors or choose to specialise in a particular industry. This may include:

construction
education
finance
healthcare
IT
logistics
manufacturing
pharmaceuticals
professional services
telecommunications.

Alternatively, you may specialise in a particular type of business activity, such as working primarily with:

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

What does a business development manager do?

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

research and identify new business opportunities, including new markets, customers, partnerships, products and services, and new ways of reaching existing markets
build and maintain relationships with customers, clients, partners and other stakeholders to generate repeat business and new opportunities
generate leads, cold call prospective customers and meet with clients (face-to-face or remotely)
understand customer needs and develop effective plans to meet these
think strategically and develop plans to grow the business, improve performance and reach new audiences
implement business development strategies, including planning and delivering operational changes where needed
negotiate and manage business deals and contracts, working with relevant colleagues where appropriate
collaborate with internal teams (e.g. marketing, finance, logistics) to support business growth and delivery, and report on progress to senior management
monitor market trends, attend events and build networks to raise the organisation's profile
identify opportunities to improve products, services or business processes, as well as to secure grants and funding.

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

plan and deliver sales campaigns and build a sales pipeline
negotiate pricing and close deals
forecast sales, analyse performance and report to senior management
contribute to sales and marketing strategy.

What salary can I expect as a business development manager?

Salaries for graduates are in the region of £25,000 to £35,000, depending on your skills, experience and location.
With several years' experience, you can expect to earn between £38,000 and £60,000, depending on the region and sector you work in.
As a senior business development manager or business development director, it's possible to earn more than £80,000.

Salaries vary depending on factors such as company size and location, sector, experience and level of responsibility. You're likely to earn more in industries such as technology, finance and professional services, and in larger organisations or major cities.

Performance-related bonuses and commission are common and can significantly increase earnings. Other benefits may include a pension, healthcare scheme membership and company car.

Income figures are intended as a guide only.

What hours does a business development manager work?

You'll usually work Monday to Friday, 9am to 5pm, although some flexibility is often required, particularly when meeting clients, travelling or attending events and conferences.

The role often involves travel during the day for face-to-face meetings with customers and other business partners or to attend conferences, exhibitions and trade shows, which may occasionally include overnight stays and some work overseas.

Part-time, flexible and hybrid working may be possible.

How do I become a business development manager?

Many entrants have a degree. Degrees in business administration or business management are particularly relevant, but other useful subjects include:

accountancy
economics
finance
international relations
marketing.

For some roles, a degree or background in a particular area such as science or engineering may be required. However, relevant skills, knowledge and practical experience are often more important than your degree subject, particularly in areas such as account management, marketing or sales.

Some larger organisations offer graduate training schemes in sales, marketing or business development, which can provide a route into the role.

You can also get into business development management through an apprenticeship. Apprenticeships combine paid work with part-time study and are available at different levels. Relevant degree-level apprenticeships include the Level 6 business to business sales professional (integrated degree). Search for an apprenticeship.

Although not essential, a postgraduate degree may be useful, especially for senior posts.

It's possible to become a business development manager without a degree by working your way up through an organisation, gaining experience in a sales or marketing role, for example, and undertaking work-based training and qualifications.

You can also move into a business development manager role from related areas such as project management, account management, sales management or consulting.

What skills does a business development manager need?

You'll need to have:

strong commercial awareness and the ability to identify new business opportunities, markets and revenue streams
excellent communication and interpersonal skills to build relationships with clients, partners and colleagues
analytical skills to research markets, interpret data and identify trends that inform business strategy
negotiation and influencing skills to secure deals and develop business opportunities
strategic thinking, research and problem-solving skills to plan growth and improve business performance
self-motivation, resilience and drive to meet targets and pursue new business
organisational skills and the ability to manage multiple priorities, projects and deadlines.

How can I get business-related work experience?

You may have the opportunity during your degree to take a year out in industry or to do a shorter work placement or internship. If your course doesn't include a placement, try contacting local businesses to ask for work experience opportunities. You can also gain valuable experience through student enterprise activities, such as running a small business, taking part in competitions or joining enterprise societies.

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, account management, 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.

Volunteering or freelance work, such as supporting a small organisation with marketing, sales or customer engagement, can also help you develop relevant skills. Work experience will help you build up a network of contacts and may, in some cases, lead to permanent employment.

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

Who employs business development managers?

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 part of a broader role covering several functions.

You can find opportunities throughout the UK in a wide range of industries, particularly in organisations that sell products or services or are looking to expand into new markets.

Look for job vacancies at:

General online job boards and job websites, and professional networking sites such as LinkedIn, also advertise vacancies.

If you're interested in working for a particular company or organisation, check their website as vacancies are usually advertised there.

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

Where can a career in business development management lead?

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. In the first few years, you may move from entry-level roles in sales, marketing or account management into a business development manager position, taking on greater responsibility for generating income and managing client relationships.

Much of your training will be on the job, developing skills in areas such as sales, negotiation, market analysis and strategy. You can also access qualifications, networking opportunities and career support through organisations such as:

Continuing professional development (CPD) is important and may include short courses, industry events and professional certifications, particularly as you move into more senior or specialised roles.

To progress, you'll need an excellent track record of successfully leading business development initiatives and gaining and retaining new business and partnerships. This can lead to roles such as senior business development manager or head of business development, leading teams, setting targets and contributing to wider organisational strategy.

You can specialise in a particular sector, for example IT or healthcare, or focus on areas like partnerships, sales or marketing. Progression may involve moving between organisations, taking on international responsibilities or working overseas. With significant experience, you could move into director-level roles with responsibility for organisational growth, or transition into consultancy, advising multiple organisations or setting up your own business development consultancy.