How much does a Business Development Manager make?
If you’re considering a Business Development Manager role within the UK’s professional services sector, you’re likely wondering about how much you can expect to earn.
The role is critical to driving company growth, establishing new business opportunities and forging valuable partnerships. Here’s everything you need to know about salaries and compensation for Business Development Managers.
Average salary for a Business Development Manager in the UK
The average salary for a Business Development Manager (BDM) in the UK can vary significantly depending on the region, professional services sector, the size of the firm and the candidate’s years of experience.
Here’s is a breakdown of salary expectations for BDMs across different levels of experience within the professional services sector:
- Business Development Executives typically handle basic tasks like marketing and BD admin. Their base salary ranges from GBP 35,000 – 60,000 per annum
- Business Development Managers have gained more experience and can take on new markets, manage client relationships and develop key sales strategies. Their base salaries range from GBP 50,000 – 90,000 per annum
- Senior Business Development Manager are expected to have an impressive track record of securing new business opportunities and driving significant revenue. Their base salaries range from GBP 70,000 – 120,000 per annum
- Head of Business Development or Sales Directors typically come with higher responsibility, strategic decision-making power and oversight of larger teams or key accounts. Their base salaries range from GBP 80,000 – GBP 500,000 per annum depending on the professional services sector, the size of the firm and the candidate’s experience
Total compensation breakdown
BDMs also often receive performance-based incentives in accountancy and consultancy where the roles can be more traditional sales positions. Total compensation may include:
- Bonuses: Based on meeting sales targets and revenue growth
- Commission: A percentage of closed deals or new clients acquired
- Stock options: Offered in some firms as part of long-term incentives
- Benefits: Including healthcare, pension contributions, and professional development funds
Salary by location
The salary range for a BDM varies significantly by location. Certain cities and regions in the UK have higher living costs which can drive up salaries in those areas.
London and City of London
- Base salary: GBP 50,000 to 70,000 per annum
The cost of living in London is higher, but so are the opportunities for securing high-value partnerships and business deals.
Manchester, Leeds and Birmingham
- Base salary: GBP 35,000 to £50,000 per annum
Salaries in these cities are competitive, with the potential for higher incentives and commissions.
Bristol, Newcastle upon Tyne and Nottingham
- Base salary: GBP 30,000 to 45,000 per annum
These cities offer lower living costs and BDM jobs often come with the chance to manage new markets and expand the company’s reach in local industries.
Other regional areas
Locations in smaller cities and towns generally offer lower base salaries, but there is often more flexibility in terms of part-time roles or job openings that may suit professionals seeking a better work-life balance.
Key skills that affect salary
Certain skills can boost a BDM salary considerably. A strong track record in specific areas can elevate earnings:
- Sales management: Ability to lead teams, manage pipelines and oversee high-level sales strategies
- Strategic planning: Experience in developing strategies for market penetration and sustainable growth
- CRM and data analytics: Proficiency in Customer Relationship Management (CRM) tools and using data to inform sales strategies
- Industry expertise: In-depth knowledge of professional services sectors often results in higher salaries, as these roles require niche expertise
Learn more about skills required for a BDM role.
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