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The differences between directors of new product development 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 director of new product development and a product development manager. Additionally, a director of new product development has an average salary of $139,162, which is higher than the $113,437 average annual salary of a product development manager.
The top three skills for a director of new product development include product development, R and business development. The most important skills for a product development manager are product development, project management, and lifecycle management.
| Director Of New Product Development | Product Development Manager | |
| Yearly salary | $139,162 | $113,437 |
| Hourly rate | $66.90 | $54.54 |
| Growth rate | 10% | 10% |
| Number of jobs | 185,369 | 166,871 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 69% | Bachelor's Degree, 73% |
| 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 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.
Directors of new product development and product development managers have different pay scales, as shown below.
| Director Of New Product Development | Product Development Manager | |
| Average salary | $139,162 | $113,437 |
| Salary range | Between $94,000 And $204,000 | Between $84,000 And $152,000 |
| Highest paying City | San Francisco, CA | San Francisco, CA |
| Highest paying state | Rhode Island | Nevada |
| Best paying company | DoorDash | Meta |
| Best paying industry | Media | Retail |
There are a few differences between a director of new product development and a product development manager in terms of educational background:
| Director Of New Product Development | Product Development Manager | |
| Most common degree | Bachelor's Degree, 69% | Bachelor's Degree, 73% |
| 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 product development managers' demographics:
| Director Of New Product Development | Product Development Manager | |
| Average age | 39 | 39 |
| Gender ratio | Male, 77.1% Female, 22.9% | 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% |