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The differences between chief product officers and business development managers can be seen in a few details. Each job has different responsibilities and duties. While it typically takes More than 10 years to become a chief product officer, becoming a business development manager takes usually requires 8-10 years. Additionally, a chief product officer has an average salary of $134,865, which is higher than the $100,769 average annual salary of a business development manager.
The top three skills for a chief product officer include CPO, patrol and patients. The most important skills for a business development manager are customer service, CRM, and healthcare.
| Chief Product Officer | Business Development Manager | |
| Yearly salary | $134,865 | $100,769 |
| Hourly rate | $64.84 | $48.45 |
| Growth rate | 6% | 10% |
| Number of jobs | 145,190 | 215,309 |
| Job satisfaction | 4 | - |
| Most common degree | Bachelor's Degree, 48% | Bachelor's Degree, 74% |
| Average age | 52 | 39 |
| Years of experience | - | 10 |
A chief product officer (CPO) is an executive professional who is responsible for managing a company's product management team to create products that can deliver sustainable value to both customers and the business. This executive must lead the strategic product direction, which includes product vision, design, development, and marketing. To get insights from the needs of customers, this executive is required to initiate various types of customer research to use it to differentiate products from competitors. This chief product officer must also take part in exhibitions to present products to the audience.
A business development manager's duties include identifying business opportunities, developing effective models and strategies to improve business performance, searching for potential clients to generate income and attract partnerships. A business development manager must have extensive knowledge of the market trends and adjust strategies as needed to meet the needs of the client. Excellent communication, decision-making, critical thinking, and leadership skills are just some of the key factors that business development managers should possess to communicate and negotiate with the clients.
Chief product officers and business development managers have different pay scales, as shown below.
| Chief Product Officer | Business Development Manager | |
| Average salary | $134,865 | $100,769 |
| Salary range | Between $74,000 And $242,000 | Between $67,000 And $151,000 |
| Highest paying City | Newark, NJ | San Francisco, CA |
| Highest paying state | New Jersey | California |
| Best paying company | McKinsey & Company Inc | Shearman & Sterling |
| Best paying industry | Professional | Finance |
There are a few differences between a chief product officer and a business development manager in terms of educational background:
| Chief Product Officer | Business Development Manager | |
| Most common degree | Bachelor's Degree, 48% | Bachelor's Degree, 74% |
| Most common major | Business | Business |
| Most common college | University of Georgia | University of Georgia |
Here are the differences between chief product officers' and business development managers' demographics:
| Chief Product Officer | Business Development Manager | |
| Average age | 52 | 39 |
| Gender ratio | Male, 71.4% Female, 28.6% | Male, 68.6% Female, 31.4% |
| Race ratio | Black or African American, 3.7% Unknown, 3.9% Hispanic or Latino, 7.6% Asian, 7.5% White, 76.8% American Indian and Alaska Native, 0.6% | 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 | 12% | 10% |