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The differences between new product managers 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 new product manager and a product director. Additionally, a product director has an average salary of $148,910, which is higher than the $117,459 average annual salary of a new product 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 director are product management, product strategy, and project management.
| New Product Manager | Product Director | |
| Yearly salary | $117,459 | $148,910 |
| Hourly rate | $56.47 | $71.59 |
| Growth rate | 10% | 10% |
| Number of jobs | 112,426 | 125,200 |
| 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.
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.
New product managers and product directors have different pay scales, as shown below.
| New Product Manager | Product Director | |
| Average salary | $117,459 | $148,910 |
| Salary range | Between $79,000 And $174,000 | Between $104,000 And $212,000 |
| Highest paying City | San Francisco, CA | San Francisco, CA |
| Highest paying state | California | California |
| Best paying company | Meta | Meta |
| Best paying industry | Retail | Internet |
There are a few differences between a new product manager and a product director in terms of educational background:
| New Product Manager | Product Director | |
| 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 directors' demographics:
| New Product Manager | Product Director | |
| Average age | 39 | 39 |
| Gender ratio | Male, 70.2% Female, 29.8% | 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% |