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The differences between directors of new product development and directors new business development can be seen in a few details. Each job has different responsibilities and duties. It typically takes 8-10 years to become both a director of new product development and a director new business development. Additionally, a director of new product development has an average salary of $139,162, which is higher than the $110,272 average annual salary of a director new business development.
The top three skills for a director of new product development include product development, R and business development. The most important skills for a director new business development are business development, project management, and account management.
| Director Of New Product Development | Director New Business Development | |
| Yearly salary | $139,162 | $110,272 |
| Hourly rate | $66.90 | $53.02 |
| Growth rate | 10% | 10% |
| Number of jobs | 185,369 | 154,470 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 69% | Bachelor's Degree, 76% |
| Average age | 39 | 39 |
| Years of experience | 10 | 10 |
A director of new product development spearheads and oversees a company's product development operations, from planning to production. They primarily take the lead in conducting research and analyses, coordinating engineers and other experts, evaluating product development plans and guidelines, and liaising with internal and external parties. They also have the authority to approve projects, make significant decisions, negotiate contracts, select concepts, and monitor all procedures, implementing solutions and strategies to optimize operations. Moreover, a director of new product development empowers employees while enforcing company standards and policies.
A director of new business development is in charge of spearheading new programs and procedures, ensuring efficiency and smooth workflow. It is their duty to set goals and objectives in adherence to the company's vision and mission, establishing guidelines, allocating budgets, and overseeing the progress of all efforts. Furthermore, as a director of new business development, it is essential to lead and encourage the workforce to reach goals, all while implementing the company's policies and regulations.
Directors of new product development and directors new business development have different pay scales, as shown below.
| Director Of New Product Development | Director New Business Development | |
| Average salary | $139,162 | $110,272 |
| Salary range | Between $94,000 And $204,000 | Between $72,000 And $168,000 |
| Highest paying City | San Francisco, CA | Sacramento, CA |
| Highest paying state | Rhode Island | California |
| Best paying company | DoorDash | Wpp Us Holdings Inc |
| Best paying industry | Media | Energy |
There are a few differences between a director of new product development and a director new business development in terms of educational background:
| Director Of New Product Development | Director New Business Development | |
| Most common degree | Bachelor's Degree, 69% | Bachelor's Degree, 76% |
| Most common major | Business | Business |
| Most common college | University of Georgia | University of Georgia |
Here are the differences between directors of new product development' and directors new business development' demographics:
| Director Of New Product Development | Director New Business Development | |
| Average age | 39 | 39 |
| Gender ratio | Male, 77.1% Female, 22.9% | Male, 69.2% Female, 30.8% |
| 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% |