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The differences between directors of new product development and product directors 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 director. Additionally, a product director has an average salary of $148,910, 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 product director are product management, product strategy, and project management.
| Director Of New Product Development | Product Director | |
| Yearly salary | $139,162 | $148,910 |
| Hourly rate | $66.90 | $71.59 |
| Growth rate | 10% | 10% |
| Number of jobs | 185,369 | 125,200 |
| 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.
The duties of a product director depend on one's place or industry of employment. Typically, their responsibilities revolve around overseeing the product development operations to ensure smooth flow and efficiency, devise strategies to improve processes, gather relevant data such as sales and customer feedback, and coordinate with different departments in developing new products and services. Furthermore, as a director, it is essential to lead and encourage departments to meet goals, all while implementing the company's policies and regulations, including its mission and vision.
Directors of new product development and product directors have different pay scales, as shown below.
| Director Of New Product Development | Product Director | |
| Average salary | $139,162 | $148,910 |
| Salary range | Between $94,000 And $204,000 | Between $104,000 And $212,000 |
| Highest paying City | San Francisco, CA | San Francisco, CA |
| Highest paying state | Rhode Island | California |
| Best paying company | DoorDash | Meta |
| Best paying industry | Media | Internet |
There are a few differences between a director of new product development and a product director in terms of educational background:
| Director Of New Product Development | Product Director | |
| 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 directors' demographics:
| Director Of New Product Development | Product Director | |
| Average age | 39 | 39 |
| Gender ratio | Male, 77.1% Female, 22.9% | Male, 72.4% Female, 27.6% |
| 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% |