VP Business Development Job Description

We will tackle here the VP business development job description. Then, let us know the core duties of this job position.

Learn About VP Business Development Job Description

What is the job description of VP of business development? VP stands for Vice President. 

So VP of business development will be responsible for leading the entire strategy for business development. This will include managing relationships with investors.

Moreover, partners and other industry players. So this will involve understanding what market opportunity the company is looking at for revenue growth.

The VP will have to figure out what new customer segments should be targeted. And how the company should go about it.

The strategy will need to be implemented by working with sales and marketing teams.  

Core Job Duties of VP Business Development

What are the core job duties of VP business development? As VP of business development, you will be leading a team of business development professionals.

You will need to look at the market opportunity and decide what areas need to be expanded. Moreover, you will need to identify potential customers and partners.

You will also need to look at how to build a strong relationship with them. This can include building rapport, creating value for them, and so on.  

VP of business development will also oversee the budget for business development activities. He/she will be responsible for managing the cost-effectiveness of the team.

So while growing the business effectively.

How Important Having A VP of Business Development?

Is having a VP of business development important? Yes, it is.

This is because the VP of business development will be responsible for all aspects of business development activities. Moreover, he/she will oversee the entire process. 

So this is an important role to have a VP that can deliver results. Usually, a CEO or the Board of Directors will hire a VP of Business Development. 

Or promote someone from other levels in the company to VP business development. Let’s look at some companies that have hired a VP of Business Development recently…  

Ford hires former GM executive as vice president of mobility and autonomous vehicles Chipotle hires former Taco Bell exec as vice president of communications and public affairs

Whole Foods hires a former Starbucks executive as vice president of culinary innovation and quality control.

Salary Of VP Business Development

How much is the salary of the VP of business development? This is the most common question that people ask when they are looking for a job. 

So let’s look at the salary of VP business development. What is the average salary of VP business development? 

The average salary of VP business development is $167,000. So if you are looking to get hired as a VP of business development.

You will need to have top-notch experience and skills. If you are looking to get promoted to this position, it is also good to have experience in the position.  

Moreover, you need to be able to deliver results. So that your employer will see your potential for success in this role.  

That is the job description of a VP of business development. Also, we have the tackle the salary of it.