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The differences between managers, product management 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 manager, product management and a product development manager. Additionally, a manager, product management has an average salary of $123,250, which is higher than the $113,437 average annual salary of a product development manager.
The top three skills for a manager, product management include product management, healthcare and project management. The most important skills for a product development manager are product development, project management, and lifecycle management.
| Manager, Product Management | Product Development Manager | |
| Yearly salary | $123,250 | $113,437 |
| Hourly rate | $59.25 | $54.54 |
| Growth rate | 10% | 10% |
| Number of jobs | 188,083 | 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 manager of product management's role is to supervise and oversee the design and development of new products and services, ensuring efficiency and customer satisfaction. Their responsibilities revolve around conducting research and analysis to determine new opportunities and demands of customers, keeping abreast of all the market trends, and collaborating with other designers and analysts to devise new ideas. One may also perform clerical tasks such as preparing progress reports, creating presentations, resolving issues and concerns, and maintaining data, all while adhering to the policies and regulations of the company.
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.
Managers, product management and product development managers have different pay scales, as shown below.
| Manager, Product Management | Product Development Manager | |
| Average salary | $123,250 | $113,437 |
| Salary range | Between $93,000 And $163,000 | Between $84,000 And $152,000 |
| Highest paying City | San Francisco, CA | San Francisco, CA |
| Highest paying state | California | Nevada |
| Best paying company | Meta | Meta |
| Best paying industry | Start-up | Retail |
There are a few differences between a manager, product management and a product development manager in terms of educational background:
| Manager, Product Management | Product Development Manager | |
| Most common degree | Bachelor's Degree, 69% | Bachelor's Degree, 73% |
| Most common major | Business | Business |
| Most common college | University of Wisconsin - Madison | University of Georgia |
Here are the differences between managers, product management' and product development managers' demographics:
| Manager, Product Management | Product Development Manager | |
| Average age | 39 | 39 |
| Gender ratio | Male, 62.0% Female, 38.0% | 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% |