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The differences between business developers and product managers can be seen in a few details. Each job has different responsibilities and duties. Additionally, a product manager has an average salary of $111,729, which is higher than the $101,635 average annual salary of a business developer.
The top three skills for a business developer include healthcare, CRM and customer service. The most important skills for a product manager are product management, QA, and product strategy.
| Business Developer | Product Manager | |
| Yearly salary | $101,635 | $111,729 |
| Hourly rate | $48.86 | $53.72 |
| Growth rate | 10% | 10% |
| Number of jobs | 193,469 | 125,678 |
| Job satisfaction | - | 5 |
| Most common degree | Bachelor's Degree, 72% | Bachelor's Degree, 72% |
| Average age | 44 | 39 |
| Years of experience | - | 10 |
A business developer specializes in conducting in-depth business analysis and crafting various strategies that would not just help a business grow, but also strengthen client base and brand awareness. One of their primary responsibilities revolves around identifying areas in need of improvement. They come up with new services that will boost customer satisfaction, examining the potential for revenue and figuring out new opportunities from trends or other pre-existing programs within the company. All of this is conducted according to the vision, mission, and policies of the organization.
A product manager is responsible for ensuring product development, providing the best marketing strategies, and effectively handling the sales and marketing team. Product managers' duties include monitoring the market trends and conditions, identifying business opportunities and plan initiatives, and collaborating the product launch process with the appropriate departments. A product manager is also responsible for generating ideas on improving product features, determining timetables and reasonable pricing, and analyzing product sales. A product manager must have excellent strategic and decision-making skills to contribute to its growth and profitability.
Business developers and product managers have different pay scales, as shown below.
| Business Developer | Product Manager | |
| Average salary | $101,635 | $111,729 |
| Salary range | Between $66,000 And $156,000 | Between $81,000 And $152,000 |
| Highest paying City | San Francisco, CA | San Francisco, CA |
| Highest paying state | California | California |
| Best paying company | Apple | Meta |
| Best paying industry | Manufacturing | Retail |
There are a few differences between a business developer and a product manager in terms of educational background:
| Business Developer | Product Manager | |
| Most common degree | Bachelor's Degree, 72% | Bachelor's Degree, 72% |
| Most common major | Business | Business |
| Most common college | Western Carolina University | University of Georgia |
Here are the differences between business developers' and product managers' demographics:
| Business Developer | Product Manager | |
| Average age | 44 | 39 |
| Gender ratio | Male, 65.8% Female, 34.2% | Male, 65.3% Female, 34.7% |
| Race ratio | Black or African American, 6.4% Unknown, 4.6% Hispanic or Latino, 9.4% Asian, 8.8% White, 70.4% American Indian and Alaska Native, 0.4% | Black or African American, 3.0% Unknown, 5.3% Hispanic or Latino, 8.7% Asian, 8.2% White, 74.6% American Indian and Alaska Native, 0.2% |
| LGBT Percentage | 11% | 10% |