What is the average Business Development salary for Somerset, NJ?
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As of March 01, 2026, the average Business Development salary in Somerset, NJ is $274,985. The chart below represents localized salaries for some of our most popular Business Development job titles in Somerset, NJ. Salaries can vary greatly depending on numerous factors, including position, location, years of experience, and level of education. Salary.com’s team of Certified Compensation Professionals analyzed survey data collected from thousands of HR departments at companies of all sizes and industries to compile a range of salaries for various Business Development job titles in Somerset, NJ. Apply your personal criteria to one of the job titles below to get your personalized salary estimate.
Business Development Salaries in Somerset, NJ
| Job Title | Salary | Hourly Rate | Location | Date Updated |
| VP of Business Development | $295,023 | $141.84 | Somerset, NJ | March 01, 2026 |
| SVP of Business Development | $350,237 | $168.38 | Somerset, NJ | March 01, 2026 |
| Business Development Director | $244,940 | $117.76 | Somerset, NJ | March 01, 2026 |
| Business Development Manager | $166,860 | $80.22 | Somerset, NJ | March 01, 2026 |
| Business Development Manager, Sr. | $213,472 | $102.63 | Somerset, NJ | March 01, 2026 |
| Chief Business Development Officer | $396,983 | $190.86 | Somerset, NJ | March 01, 2026 |
| Business Development Associate I | $78,491 | $37.74 | Somerset, NJ | March 01, 2026 |
| Business Development Associate II | $97,064 | $46.67 | Somerset, NJ | March 01, 2026 |
| Business Development Associate IV | $169,541 | $81.51 | Somerset, NJ | March 01, 2026 |
| Business Development Associate III | $128,854 | $61.95 | Somerset, NJ | March 01, 2026 |
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Directs the development and execution of the business development vision, strategy, plans, and processes that will drive sales, increase revenue, expand markets, and accomplish financial objectives. Identifies and evaluates new markets, partners, channels, and customers. Develops a wide network of contacts to keep informed about current and future industry and market actions. Researches and analyzes the business environment, competitors, and customers to develop ideas for new products and services, pricing, and business models. Directs financial feasibility studies, proposal development, and negotiations for new business opportunities. Collaborates with marketing, sales, product development, and other stakeholders to support business development plans. Requires a bachelor's degree. Typically reports to top management. Manages a departmental function within a broader corporate function. Develops major goals to support broad functional objectives. Approves policies developed within various sub-functions and departments. Typically requires 8+ years of managerial experience. Comprehensive knowledge of the overall departmental function. VP of Business Development Salaries in Somerset, NJAlternate Job Titles:Vice President of Division Business Development, VP Business Development, VP of Business Development
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Develops and leads the business development vision, strategy, plans, and processes that will drive sales, increase revenue, expand markets, and accomplish financial objectives. Identifies and evaluates new markets, partners, channels, and customers. Researches and analyzes the business environment, competitors, and customers to develop ideas for new products and services, pricing, and business models. Directs financial feasibility studies, development of proposals, and negotiations for new business opportunities. Collaborates with marketing, sales, product development, and other stakeholders to support business development plans. Requires a bachelor's degree. Typically reports to top management. Manages a business unit, division, or corporate function with major organizational impact. Establishes/implements overall direction and strategic initiatives for the given major function or line of business. Typically requires 10+ years of progressive leadership experience. Has extensive knowledge of the overall departmental function. SVP of Business Development Salaries in Somerset, NJAlternate Job Titles:Business Development Executive, SVP of Bus Dev, SVP of Business Development
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Directs the execution of the business development vision, strategy, plans, and processes to drive sales, increase revenue, expand markets, and accomplish financial objectives. Identifies and evaluates new markets, partners, channels, and customers. Develops and uses contacts and relationships within the industry, business environment, and customer base to understand and respond to competition, pricing, and product demand changes. Oversees the development of proposals and contracts for new business opportunities and manages negotiations. Collaborates with marketing, sales, product development, and other stakeholders to support business development plans. Requires a bachelor's degree. Typically reports to top management. Manages a departmental sub-function within a broader departmental function. Creates functional strategies and specific objectives for the sub-function and develops budgets/policies/procedures to support the functional infrastructure. Typically requires 5+ years of managerial experience. Deep knowledge of the managed sub-function and solid knowledge of the overall departmental function. Business Development Director Salaries in Somerset, NJAlternate Job Titles:BDR Director, Director Business Growth and Development, Business Development Director
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Manages the daily execution of the business development strategy, plans, and processes to drive sales, increase revenue, expand markets, and accomplish financial objectives. Coaches teams in best practices and effective tactics for prospecting new markets, partners, channels, and customers. Establishes team targets and metrics to measure the achievement of objectives. Develops and uses contacts and relationships within the industry, business environment, and customer base to understand and respond to competition, pricing, and product demand changes. Makes suggestions for new product offerings or improvements to sales or marketing efforts. May administer or negotiate new business proposals and prepare contracts. Typically requires a bachelor's degree. Typically reports to a director. Manages subordinate staff in the day-to-day performance of their jobs. True first level manager. Ensures that project/department milestones/goals are met and adhering to approved budgets. Has full authority for personnel actions. Typically requires 5 years experience in the related area as an individual contributor. 1 - 3 years supervisory experience may be required. Extensive knowledge of the function and department processes. Business Development Manager Salaries in Somerset, NJAlternate Job Titles:BDR Manager, Manager Business Growth and Development, Business Development Manager
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Manages the daily execution of the business development strategy, plans, and processes to drive sales, increase revenue, expand markets, and accomplish financial objectives. Coaches teams in best practices and effective tactics for prospecting new markets, partners, channels, and customers. Establishes team targets and metrics to measure the achievement of objectives. Develops and uses contacts and relationships within the industry, business environment, and customer base to understand and respond to competition, pricing, and product demand changes. Makes suggestions for new product offerings or improvements to sales or marketing efforts. May administer or negotiate new business proposals and prepare contracts. Typically requires a bachelor's degree. Typically reports to a director. Typically manages through subordinate managers and professionals in larger groups of moderate complexity. Provides input to strategic decisions that affect the functional area of responsibility. May give input into developing the budget. Typically requires 3+ years of managerial experience. Capable of resolving escalated issues arising from operations and requiring coordination with other departments. Business Development Manager, Sr. Salaries in Somerset, NJAlternate Job Titles:Senior BDR Manager, Senior Manager Business Growth and Development, Business Development Manager, Sr.
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Develops and leads the overall business development vision, strategy, plans, and processes that will drive sales, increase revenue, expand markets, and accomplish financial objectives. Identifies and evaluates new markets, partners, channels, and customers. Develops a wide network of contacts to keep informed about current and future industry and market actions. Researches and analyzes the business environment, competitors, and customers to develop ideas for new products and services, pricing, and business models. Directs financial feasibility studies, development of proposals, and negotiations for new business opportunities. Collaborates with marketing, sales, product development, and other stakeholders to support business development plans. Requires a bachelor's degree. Typically reports to Chief Executive Officer (CEO). C-Suite level management. Develops functional or business unit strategy for an organization. Executes multiple high impact initiatives to achieve organizational goals. Defines vision, strategy, and focus for a major functional or business unit. Substantial experience with setting key metrics like KPIs or OKRs and shaping plans to meet objectives. Typically requires progressive leadership experience in senior management roles. Has expert level knowledge of the overall departmental function. Demonstrated experience in developing and executing long term business strategies. Chief Business Development Officer Salaries in Somerset, NJAlternate Job Titles:EVP Business Development, Executive Vice President of Business Development, Head of Business Development, Top Business Development Executive, Chief Business Development Officer
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Identifies and nurtures strategic relationships with partners or potential customers. Assists in the development of a strong pipeline of new business opportunities through direct or indirect customer contact and prospecting. Works with marketing, sales, and product development teams to implement business development initiatives. Requires a bachelor's degree in business, finance or marketing. Typically reports to a supervisor or manager. Work is closely managed. Works on projects/matters of limited complexity in a support role. Typically requires 0-2 years of related experience. Business Development Associate I Salaries in Somerset, NJAlternate Job Titles:BDR I, Business Development Representative I, Business Prospector I, Business Development Associate I
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Identifies and nurtures strategic relationships with partners or potential customers. Assists in the development of a strong pipeline of new business opportunities through direct or indirect customer contact and prospecting. Works with marketing, sales, and product development teams to implement business development initiatives. Requires a bachelor's degree in business, finance or marketing. Typically reports to a supervisor or manager. Occasionally directed in several aspects of the work. Gaining exposure to some of the complex tasks within the job function. Typically requires 2-4 years of related experience. Business Development Associate II Salaries in Somerset, NJAlternate Job Titles:BDR II, Business Development Representative II, Business Prospector II, Business Development Associate II
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Identifies and nurtures strategic relationships with partners or potential customers. Assists in the development of a strong pipeline of new business opportunities through direct or indirect customer contact and prospecting. Researches and analyzes current and future business opportunities. Works with marketing, sales, and product development teams to implement business development initiatives. Requires a bachelor's degree in business, finance or marketing. Typically reports to a supervisor or manager. Work is highly independent. May assume a team lead role for the work group. A specialist on complex technical and business matters. Typically requires 7+ years of related experience. Business Development Associate IV Salaries in Somerset, NJAlternate Job Titles:BDR IV, Business Development Representative IV, Business Prospector IV, Business Development Associate IV
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Identifies and nurtures strategic relationships with partners or potential customers. Assists in the development of a strong pipeline of new business opportunities through direct or indirect customer contact and prospecting. Researches and analyzes current and future business opportunities. Works with marketing, sales, and product development teams to implement business development initiatives. Requires a bachelor's degree in business, finance or marketing. Typically reports to a supervisor or manager. Work is generally independent and collaborative in nature. Contributes to moderately complex aspects of a project. Typically requires 4-7 years of related experience. Business Development Associate III Salaries in Somerset, NJAlternate Job Titles:BDR III, Business Development Representative III, Business Prospector III, Business Development Associate III