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The differences between chief development officers and managing directors can be seen in a few details. Each job has different responsibilities and duties. While it typically takes 2-4 years to become a chief development officer, becoming a managing director takes usually requires 4-6 years. Additionally, a managing director has an average salary of $129,690, which is higher than the $116,047 average annual salary of a chief development officer.
The top three skills for a chief development officer include kids, oversight and CDO. The most important skills for a managing director are healthcare, portfolio, and business development.
| Chief Development Officer | Managing Director | |
| Yearly salary | $116,047 | $129,690 |
| Hourly rate | $55.79 | $62.35 |
| Growth rate | 8% | 6% |
| Number of jobs | 135,511 | 81,022 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 65% | Bachelor's Degree, 68% |
| Average age | 42 | 44 |
| Years of experience | 4 | 6 |
A chief development officer is responsible for joining the senior management team in incorporating business decisions that would benefit the organization in achieving long-term goals and objectives. Chief development officers lead the growth planning and strategizing techniques to improve operations and ensure customer satisfaction. They approve budgets and resources allocation across the organization to serve business functions and address issues. A chief development officer must have excellent communication and leadership skills, especially in raising funds and maintaining healthy relationships with business partners.
A Managing Director oversees workflow and progress, making sure that all operations align within the company or organization's mission or set of goals. They are responsible for crafting strategies, devising effective business plans, and executing guidelines that would nurture a company's growth, and as well as to be the driving force that would direct employees to the company's objectives. Furthermore, a Managing Director must coordinate with those in a higher position, such as the members of the board.
Chief development officers and managing directors have different pay scales, as shown below.
| Chief Development Officer | Managing Director | |
| Average salary | $116,047 | $129,690 |
| Salary range | Between $67,000 And $199,000 | Between $72,000 And $233,000 |
| Highest paying City | New York, NY | New York, NY |
| Highest paying state | New York | New York |
| Best paying company | McKinsey & Company Inc | Paul, Weiss, Rifkind, Wharton & Garrison |
| Best paying industry | Professional | Finance |
There are a few differences between a chief development officer and a managing director in terms of educational background:
| Chief Development Officer | Managing Director | |
| Most common degree | Bachelor's Degree, 65% | Bachelor's Degree, 68% |
| Most common major | Business | Business |
| Most common college | Stanford University | University of Pennsylvania |
Here are the differences between chief development officers' and managing directors' demographics:
| Chief Development Officer | Managing Director | |
| Average age | 42 | 44 |
| Gender ratio | Male, 66.7% Female, 33.3% | Male, 73.5% Female, 26.5% |
| Race ratio | Black or African American, 6.0% Unknown, 4.7% Hispanic or Latino, 9.2% Asian, 5.1% White, 74.6% American Indian and Alaska Native, 0.4% | Black or African American, 6.1% Unknown, 4.3% Hispanic or Latino, 15.0% Asian, 6.3% White, 67.8% American Indian and Alaska Native, 0.5% |
| LGBT Percentage | 16% | 10% |