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The differences between commercial product managers and product development 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 commercial product manager and a product development manager. Additionally, a product development manager has an average salary of $113,437, which is higher than the $106,412 average annual salary of a commercial product manager.
The top three skills for a commercial product manager include treasury, product line and product development. The most important skills for a product development manager are product development, project management, and lifecycle management.
| Commercial Product Manager | Product Development Manager | |
| Yearly salary | $106,412 | $113,437 |
| Hourly rate | $51.16 | $54.54 |
| Growth rate | 10% | 10% |
| Number of jobs | 139,724 | 166,871 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 80% | Bachelor's Degree, 73% |
| Average age | 39 | 39 |
| Years of experience | 10 | 10 |
The commercial product manager focuses on determining consumers' wants and needs and drafts a product plan for the business to tweak their product development to take advantage of the demand. The commercial product manager works with the marketing team on ensuring existing products and newly developed items fare well in the market. This position is tasked with monitoring product performance, determining weaknesses in the marketing strategy, and providing suggestions and recommendations to improve sales. The added responsibility of a commercial product manager is to help in conceptualizing product designs and marketing strategies.
A product development manager spearheads the development of new products within a company. Most of the time, their responsibilities revolve around conducting marketing research and analysis to determine consumers' needs, coordinating with the product development team to come up with new ideas, proposing business plans to the executives, and creating prototypes. A product development manager must also present a cost analysis, produce progress reports, and address inquiries and concerns. Furthermore, as a manager, it is essential to lead and encourage the staff, all while adhering to the company's policies and regulations.
Commercial product managers and product development managers have different pay scales, as shown below.
| Commercial Product Manager | Product Development Manager | |
| Average salary | $106,412 | $113,437 |
| Salary range | Between $73,000 And $153,000 | Between $84,000 And $152,000 |
| Highest paying City | San Francisco, CA | San Francisco, CA |
| Highest paying state | Washington | Nevada |
| Best paying company | Flexport | Meta |
| Best paying industry | Pharmaceutical | Retail |
There are a few differences between a commercial product manager and a product development manager in terms of educational background:
| Commercial Product Manager | Product Development Manager | |
| Most common degree | Bachelor's Degree, 80% | Bachelor's Degree, 73% |
| Most common major | Business | Business |
| Most common college | University of Georgia | University of Georgia |
Here are the differences between commercial product managers' and product development managers' demographics:
| Commercial Product Manager | Product Development Manager | |
| Average age | 39 | 39 |
| Gender ratio | Male, 70.0% Female, 30.0% | Male, 62.2% Female, 37.8% |
| 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% |