Salary For VP Business Development

We will discuss the salary for VP business development. Moreover, let us tackle the various factors that can affect the salary of this position.

How Much Is The Salary For VP Of Business Development?

The salary for VP business development can vary from one company to another. The salary may also depend on the educational qualification of the candidate. 

Moreover, the experience in the field and the seniority of the candidate can also affect the salary level. An individual with more experience in this field will be entitled to a higher salary than a fresher.

Factors Affecting The Salary For VP Business Development

A candidate with good educational qualifications will be entitled to a good salary. It is expected of an individual with an MBA.

Or a Doctorate will be entitled to a higher salary than an individual without a college degree. A candidate must have a professional certificate from a relevant association to earn more than an individual without it. 

An individual with 5 years of experience in this field can earn more than an individual with less experience. An individual with 20 years of experience may earn more than an individual with 10 years of experience in this field.

 A candidate who is currently employed will get a higher salary than a candidate who is not currently working. An individual who has worked for 5+ years in a specific company can earn more than an individual.

For those who have worked for less time in another company. As you can see, there are so many factors affecting salary.

But do not worry we will discuss them further below

Factors Affecting The Salary Level For VP Business Development

Personal Factors

Personal factors are some personal characteristics that affect your pay level. Such as your gender, age, education, and your marital status. 

Let us look at each factor in detail below:

Gender: 

Gender affects wages from different perspectives. The pay gap is not solely related to gender but other factors as well such as race, age, religion, and location also come into play. 

Generally, women tend to perform better and get paid lower wages compared to men who perform worse. And also receive higher wages concerning gender wage gap studies. 

For example, companies pay women about 77% of what men earn after controlling for other factors. Such as occupation and work hours, according to research by PayScale Inc.

That tracks pay data using its large database of employee compensation information collected. Through its salary survey tool and other data sources such as the U.S. Census Bureau labor statistics. 

Gender wage gaps are still at play even when comparing two individuals doing the same job title. At different companies or even at different divisions within the same company.

What Are The Average Salaries Of This Position?

Now let us learn the average salary of this position. So an individual with no college degree can earn an average salary of $43,000.

Moreover, an individual with a master’s degree can earn an average salary of $71,000. Then individuals with a Ph.D. or Doctorate can have an average salary of $104,000.

An individual with 5+ years of experience in this field can have an average salary of $60,000. Also, an individual with 10-20 years of experience in this field can earn an average salary of $84,000.