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The differences between directors of new product development and vice presidents product 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 vice president product development. Additionally, a vice president product development has an average salary of $168,835, 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 vice president product development are product development, R, and analytics.
| Director Of New Product Development | Vice President Product Development | |
| Yearly salary | $139,162 | $168,835 |
| Hourly rate | $66.90 | $81.17 |
| Growth rate | 10% | 10% |
| Number of jobs | 185,369 | 180,783 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 69% | Bachelor's Degree, 71% |
| 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 vice president for product development is responsible for leading the product development team in the execution of development activities to enhance the product's brand image in the market and achieve the sales performance target. Vice presidents for product development monitor the product development techniques from the conceptualization to the final execution and market release. They also handle the budget and resource allocation to support product development operations, ensuring that the outputs meet the quality standards and timetables.
Directors of new product development and vice presidents product development have different pay scales, as shown below.
| Director Of New Product Development | Vice President Product Development | |
| Average salary | $139,162 | $168,835 |
| Salary range | Between $94,000 And $204,000 | Between $109,000 And $259,000 |
| Highest paying City | San Francisco, CA | San Francisco, CA |
| Highest paying state | Rhode Island | Washington |
| Best paying company | DoorDash | |
| Best paying industry | Media | Technology |
There are a few differences between a director of new product development and a vice president product development in terms of educational background:
| Director Of New Product Development | Vice President Product Development | |
| Most common degree | Bachelor's Degree, 69% | Bachelor's Degree, 71% |
| 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 vice presidents product development' demographics:
| Director Of New Product Development | Vice President Product Development | |
| Average age | 39 | 39 |
| Gender ratio | Male, 77.1% Female, 22.9% | Male, 78.1% Female, 21.9% |
| 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% |