For many unhappy attorneys, the common struggle is being frustrated with how much time was invested in becoming a lawyer and loans borrowed for law school, but all that actually didn’t go to waste. The skills obtained from becoming a lawyer can transfer well into many different career paths, including business development in particular.
To best understand how your lawyer skills could translate smoothly into a business development career, let’s first define what business development is. According to Wikipedia, it’s not just about making short-term sales or forming partnerships, but rather all of the above. Business development entails creating long-term value for an organization through strategic relationships with customers, partners and stakeholders. At the very heart of it, it’s about growing the business and creating opportunities by identifying, developing, negotiating, and closing business deals. So more often than not, you’ll be doing research, leading contract negotiations and working with corporate legal counsels, which is all second nature to you.
If you’re still unsure about the switch, Glassdoor included the Business Development Manager role in their top 25 highest paying jobs list, which averages a base salary of over $95,000. Beyond that, Directors earn an average base salary of $121,000 and Vice Presidents earn an average base salary of $165,000.
There are over 446,000 business development jobs available in the United States — what are you waiting for?