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The differences between business product managers and product owners 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 owner. Additionally, a business product manager has an average salary of $123,607, which is higher than the $97,070 average annual salary of a product owner.
The top three skills for a business product manager include product management, project management and market research. The most important skills for a product owner are user stories, acceptance criteria, and product backlog.
| Business Product Manager | Product Owner | |
| Yearly salary | $123,607 | $97,070 |
| Hourly rate | $59.43 | $46.67 |
| Growth rate | 10% | 10% |
| Number of jobs | 189,393 | 129,990 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 74% | Bachelor's Degree, 67% |
| 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.
Product owners are at the forefront of an organization's development cycle. They have various duties and responsibilities, which include ensuring that the value of products created by the development team is maximized, creating a vision and defining the goals for development projects, and working closely with all stakeholders. As the product owner, you are responsible for ensuring that the development team maintains a consistent vision and overseeing the product backlog. You are also expected to supervise the actual product development stages and anticipate the needs of clients.
Business product managers and product owners have different pay scales, as shown below.
| Business Product Manager | Product Owner | |
| Average salary | $123,607 | $97,070 |
| Salary range | Between $88,000 And $173,000 | Between $71,000 And $130,000 |
| Highest paying City | San Francisco, CA | San Francisco, CA |
| Highest paying state | California | California |
| Best paying company | Meta | ORIX USA |
| Best paying industry | - | Manufacturing |
There are a few differences between a business product manager and a product owner in terms of educational background:
| Business Product Manager | Product Owner | |
| Most common degree | Bachelor's Degree, 74% | Bachelor's Degree, 67% |
| Most common major | Business | Business |
| Most common college | University of Georgia | University of Georgia |
Here are the differences between business product managers' and product owners' demographics:
| Business Product Manager | Product Owner | |
| Average age | 39 | 39 |
| Gender ratio | Male, 64.1% Female, 35.9% | Male, 64.3% Female, 35.7% |
| 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% |