Explore jobs
Find specific jobs
Explore careers
Explore professions
Best companies
Explore companies
The differences between directors of new product development and directors of strategy 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 of strategy. Additionally, a director of strategy has an average salary of $145,870, which is higher than the $139,162 average annual salary of a director of new product 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 strategy are analytics, healthcare, and project management.
| Director Of New Product Development | Director Of Strategy | |
| Yearly salary | $139,162 | $145,870 |
| Hourly rate | $66.90 | $70.13 |
| Growth rate | 10% | 10% |
| Number of jobs | 185,369 | 65,254 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 69% | Bachelor's Degree, 68% |
| 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 the strategy works together with senior managers in a company to determine where the company is going and how it will get there. This role is frequently found in big companies. The director of the strategy directly reports to senior management and can also be a valuable member of the management lineup. The director often works with a small team consisting of analysts and support staff. The director of the strategy is also responsible for getting and assessing information about the industry and current market trends, competitors, and possible business opportunities.
Directors of new product development and directors of strategy have different pay scales, as shown below.
| Director Of New Product Development | Director Of Strategy | |
| Average salary | $139,162 | $145,870 |
| Salary range | Between $94,000 And $204,000 | Between $107,000 And $198,000 |
| Highest paying City | San Francisco, CA | San Francisco, CA |
| Highest paying state | Rhode Island | California |
| Best paying company | DoorDash | McKinsey & Company Inc |
| Best paying industry | Media | Media |
There are a few differences between a director of new product development and a director of strategy in terms of educational background:
| Director Of New Product Development | Director Of Strategy | |
| Most common degree | Bachelor's Degree, 69% | Bachelor's Degree, 68% |
| 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 of strategy' demographics:
| Director Of New Product Development | Director Of Strategy | |
| Average age | 39 | 39 |
| Gender ratio | Male, 77.1% Female, 22.9% | Male, 66.2% Female, 33.8% |
| 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% |