Explore jobs
Find specific jobs
Explore careers
Explore professions
Best companies
Explore companies
The differences between new product managers 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 new product manager and a product development manager. Additionally, a new product manager has an average salary of $117,459, which is higher than the $113,437 average annual salary of a product development manager.
The top three skills for a new product manager include market research, product management and project management. The most important skills for a product development manager are product development, project management, and lifecycle management.
| New Product Manager | Product Development Manager | |
| Yearly salary | $117,459 | $113,437 |
| Hourly rate | $56.47 | $54.54 |
| Growth rate | 10% | 10% |
| Number of jobs | 112,426 | 166,871 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 70% | Bachelor's Degree, 73% |
| Average age | 39 | 39 |
| Years of experience | 10 | 10 |
A new product manager's role is to determine the needs and desires of a customer. They do complex tasks in line with the production and introduction of new products with the help of the sales director. They forecast the current and future product lines by reviewing product specifications and requirements, appraising new product ideas and/or product or packaging changes. The role also includes an assessment of product market data by reaching out to customers with the help of field salespeople and evaluating sales call results.
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.
New product managers and product development managers have different pay scales, as shown below.
| New Product Manager | Product Development Manager | |
| Average salary | $117,459 | $113,437 |
| Salary range | Between $79,000 And $174,000 | 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 | Retail | Retail |
There are a few differences between a new product manager and a product development manager in terms of educational background:
| New Product Manager | Product Development Manager | |
| Most common degree | Bachelor's Degree, 70% | Bachelor's Degree, 73% |
| Most common major | Business | Business |
| Most common college | University of Georgia | University of Georgia |
Here are the differences between new product managers' and product development managers' demographics:
| New Product Manager | Product Development Manager | |
| Average age | 39 | 39 |
| Gender ratio | Male, 70.2% Female, 29.8% | 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% |