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The differences between directors of new product development and directors of sales & business development can be seen in a few details. Each job has different responsibilities and duties. While it typically takes 8-10 years to become a director of new product development, becoming a director of sales & business development takes usually requires 6-8 years. Additionally, a director of new product development has an average salary of $139,162, which is higher than the $82,585 average annual salary of a director of sales & 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 of sales & business development are value proposition, sales cycle, and CRM.
| Director Of New Product Development | Director Of Sales & Business Development | |
| Yearly salary | $139,162 | $82,585 |
| Hourly rate | $66.90 | $39.70 |
| Growth rate | 10% | 5% |
| Number of jobs | 185,369 | 163,561 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 69% | Bachelor's Degree, 79% |
| Average age | 39 | 46 |
| Years of experience | 10 | 8 |
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 sales & business development is responsible for monitoring the business and project plans, ensuring that the sales targets are met, according to project requirements and specifications. Directors of sales & business development perform data analysis to track business performance and identify opportunities to grow revenues and profits. They also coordinate with the clients and maintain healthy business relationships by enhancing their brand image on various platforms and reach the target audience. A director of sales & business development works closely with the marketing and sales team for public relations and marketing campaigns placement.
Directors of new product development and directors of sales & business development have different pay scales, as shown below.
| Director Of New Product Development | Director Of Sales & Business Development | |
| Average salary | $139,162 | $82,585 |
| Salary range | Between $94,000 And $204,000 | Between $38,000 And $176,000 |
| Highest paying City | San Francisco, CA | Arlington, VA |
| Highest paying state | Rhode Island | Oregon |
| Best paying company | DoorDash | Mastercard |
| Best paying industry | Media | Technology |
There are a few differences between a director of new product development and a director of sales & business development in terms of educational background:
| Director Of New Product Development | Director Of Sales & Business Development | |
| Most common degree | Bachelor's Degree, 69% | Bachelor's Degree, 79% |
| Most common major | Business | Business |
| Most common college | University of Georgia | University of Southern California |
Here are the differences between directors of new product development' and directors of sales & business development' demographics:
| Director Of New Product Development | Director Of Sales & Business Development | |
| Average age | 39 | 46 |
| Gender ratio | Male, 77.1% Female, 22.9% | Male, 81.5% Female, 18.5% |
| 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, 3.2% Unknown, 4.4% Hispanic or Latino, 9.8% Asian, 4.1% White, 78.2% American Indian and Alaska Native, 0.2% |
| LGBT Percentage | 10% | 7% |