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The differences between directors of new product development and heads of 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 head of business development. Additionally, a director of new product development has an average salary of $139,162, which is higher than the $134,190 average annual salary of a head of 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 head of business development are cloud, C++, and project management.
| Director Of New Product Development | Head Of Business Development | |
| Yearly salary | $139,162 | $134,190 |
| Hourly rate | $66.90 | $64.51 |
| Growth rate | 10% | 10% |
| Number of jobs | 185,369 | 158,539 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 69% | Bachelor's Degree, 63% |
| 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 head of business development is responsible for monitoring the company's overall business operations and client transactions. Heads of business development coordinate with clients for their requirements and specifications and develop the team to handle the project management operations. They also handle the budget and resource allocations and ensure that the team meets the deadline and high-quality deliverables on time. Ahead of business development must be regularly updated with the current market trends to identify opportunities that would generate more revenue resources for the business.
Directors of new product development and heads of business development have different pay scales, as shown below.
| Director Of New Product Development | Head Of Business Development | |
| Average salary | $139,162 | $134,190 |
| Salary range | Between $94,000 And $204,000 | Between $94,000 And $191,000 |
| Highest paying City | San Francisco, CA | Seattle, WA |
| Highest paying state | Rhode Island | Washington |
| Best paying company | DoorDash | Meta |
| Best paying industry | Media | Telecommunication |
There are a few differences between a director of new product development and a head of business development in terms of educational background:
| Director Of New Product Development | Head Of Business Development | |
| Most common degree | Bachelor's Degree, 69% | Bachelor's Degree, 63% |
| 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 heads of business development' demographics:
| Director Of New Product Development | Head Of Business Development | |
| Average age | 39 | 39 |
| Gender ratio | Male, 77.1% Female, 22.9% | Male, 74.2% Female, 25.8% |
| 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% |