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The differences between business product managers and product managers can be seen in a few details. Each job has different responsibilities and duties. It typically takes 8-10 years to become both a business product manager and a product manager. Additionally, a business product manager has an average salary of $123,607, which is higher than the $111,729 average annual salary of a product manager.
The top three skills for a business product manager include product management, project management and market research. The most important skills for a product manager are product management, QA, and product strategy.
| Business Product Manager | Product Manager | |
| Yearly salary | $123,607 | $111,729 |
| Hourly rate | $59.43 | $53.72 |
| Growth rate | 10% | 10% |
| Number of jobs | 189,393 | 125,678 |
| Job satisfaction | - | 5 |
| Most common degree | Bachelor's Degree, 74% | Bachelor's Degree, 72% |
| Average age | 39 | 39 |
| Years of experience | 10 | 10 |
A business product manager is primarily in charge of overseeing a company's product and service development procedures, ensuring quality and marketability. Their responsibilities typically revolve around gathering and analyzing data to understand and identify product requirements, coordinating with the engineering and quality control teams, determining the marketing opportunities, managing the roadmaps, and developing strategies to meet the consumers' needs. Furthermore, as a business product manager, it is essential to lead and encourage the workforce to reach goals, all while implementing the company's policies and regulations.
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 product managers and product managers have different pay scales, as shown below.
| Business Product Manager | Product Manager | |
| Average salary | $123,607 | $111,729 |
| Salary range | Between $88,000 And $173,000 | Between $81,000 And $152,000 |
| Highest paying City | San Francisco, CA | San Francisco, CA |
| Highest paying state | California | California |
| Best paying company | Meta | Meta |
| Best paying industry | - | Retail |
There are a few differences between a business product manager and a product manager in terms of educational background:
| Business Product Manager | Product Manager | |
| Most common degree | Bachelor's Degree, 74% | Bachelor's Degree, 72% |
| Most common major | Business | Business |
| Most common college | University of Georgia | University of Georgia |
Here are the differences between business product managers' and product managers' demographics:
| Business Product Manager | Product Manager | |
| Average age | 39 | 39 |
| Gender ratio | Male, 64.1% Female, 35.9% | Male, 65.3% Female, 34.7% |
| Race ratio | 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% | 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 | 10% | 10% |