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The differences between licensing managers and product 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 licensing manager and a product manager. Additionally, a product manager has an average salary of $111,729, which is higher than the $91,723 average annual salary of a licensing manager.
The top three skills for a licensing manager include business development, project management and license agreements. The most important skills for a product manager are product management, QA, and product strategy.
| Licensing Manager | Product Manager | |
| Yearly salary | $91,723 | $111,729 |
| Hourly rate | $44.10 | $53.72 |
| Growth rate | 10% | 10% |
| Number of jobs | 64,732 | 125,678 |
| Job satisfaction | - | 5 |
| Most common degree | Bachelor's Degree, 68% | Bachelor's Degree, 72% |
| Average age | 39 | 39 |
| Years of experience | 10 | 10 |
A licensing manager is typically in charge of processing licensing applications. Among their responsibilities include gathering and verifying information, reviewing and gathering application requirements, answering inquiries, preparing and processing documents, and conducting further assessments to determine an applicants' compliance with the state or federal laws. There are also instances when they have the authority to approve or reject applications. Furthermore, as a manager, it is essential to lead and encourage staff to reach goals while implementing the agency's policies and regulations.
A product manager is responsible for ensuring product development, providing the best marketing strategies, and effectively handling the sales and marketing team. Product managers' duties include monitoring the market trends and conditions, identifying business opportunities and plan initiatives, and collaborating the product launch process with the appropriate departments. A product manager is also responsible for generating ideas on improving product features, determining timetables and reasonable pricing, and analyzing product sales. A product manager must have excellent strategic and decision-making skills to contribute to its growth and profitability.
Licensing managers and product managers have different pay scales, as shown below.
| Licensing Manager | Product Manager | |
| Average salary | $91,723 | $111,729 |
| Salary range | Between $58,000 And $142,000 | Between $81,000 And $152,000 |
| Highest paying City | Norwalk, CT | San Francisco, CA |
| Highest paying state | Connecticut | California |
| Best paying company | Kaiser Permanente | Meta |
| Best paying industry | Technology | Retail |
There are a few differences between a licensing manager and a product manager in terms of educational background:
| Licensing Manager | Product Manager | |
| Most common degree | Bachelor's Degree, 68% | Bachelor's Degree, 72% |
| Most common major | Business | Business |
| Most common college | University of Georgia | University of Georgia |
Here are the differences between licensing managers' and product managers' demographics:
| Licensing Manager | Product Manager | |
| Average age | 39 | 39 |
| Gender ratio | Male, 46.5% Female, 53.5% | Male, 65.3% Female, 34.7% |
| 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% |