Identify and develop new business opportunities, partnerships, and revenue streams. Median salary in Richmond: $97K/year. Data from BLS, O*NET, and H-1B disclosures.
Figures represent annual base salary in Richmond, Virginia. Reviewed by SalaryOptics Editorial · How we calculate this →
Analysis derived from the salary, COL, tax, and labor-market figures above — specific to this role and city.
Business Development Managers in Richmond earn approximately 5% lower than the US national median for this role — a $5,000 discount on annual base salary. Richmond's lower wage level partially reflects the area's cost-of-living index of 98 (US avg = 100).
Adjusted for Richmond's cost-of-living index (98), the median Business Development Manager salary buys the equivalent of $98,980 in a US-average-cost city. That's $3,020 less purchasing power than the national median — the higher nominal salary doesn't fully offset local costs.
Based on BLS 2022–2032 Employment Projections and WEF Future of Jobs Report 2026. At current growth rates, median salary reaches $97K by 2030.
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The median Business Development Manager salary in Richmond, VA is $97,000 per year as of Q1 2026. This figure represents the midpoint of all reported compensation for this role in the Richmond–VA metropolitan area, based on data from the Bureau of Labor Statistics Occupational Employment Statistics, H-1B visa disclosures from the Department of Labor, and O*NET occupational data.
Entry-level Business Development Managers in Richmond with 0–2 years of experience typically earn between $68,000 and $97,000 annually. Mid-career professionals with 3–7 years command $97,000 to $133,000, while senior-level practitioners with 8+ years of experience regularly earn $133,000 to $182,000 or more.
Richmond has a cost of living index of 98 compared to the US national average of 100. This means your salary goes approximately 2% further in Richmond than the national average. Virginia has a 5.75% state income tax rate.
Bachelor's in Business; MBA at senior levels. 50% of these roles offer some remote flexibility.