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The differences between new product managers and product management 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 management director. Additionally, a product management director has an average salary of $156,724, 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 management director are product management, product strategy, and cloud.
| New Product Manager | Product Management Director | |
| Yearly salary | $117,459 | $156,724 |
| Hourly rate | $56.47 | $75.35 |
| Growth rate | 10% | 10% |
| Number of jobs | 112,426 | 170,460 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 70% | Bachelor's Degree, 70% |
| 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 Management Director is responsible for a business product planning as well as execution throughout the life cycle of the business. They create the product strategy and requirements, develop and execute tactical plans, and maintain product and market knowledge.
New product managers and product management directors have different pay scales, as shown below.
| New Product Manager | Product Management Director | |
| Average salary | $117,459 | $156,724 |
| Salary range | Between $79,000 And $174,000 | Between $112,000 And $219,000 |
| Highest paying City | San Francisco, CA | San Francisco, CA |
| Highest paying state | California | California |
| Best paying company | Meta | Meta |
| Best paying industry | Retail | Technology |
There are a few differences between a new product manager and a product management director in terms of educational background:
| New Product Manager | Product Management Director | |
| Most common degree | Bachelor's Degree, 70% | Bachelor's Degree, 70% |
| Most common major | Business | Business |
| Most common college | University of Georgia | University of Georgia |
Here are the differences between new product managers' and product management directors' demographics:
| New Product Manager | Product Management Director | |
| Average age | 39 | 39 |
| Gender ratio | Male, 70.2% Female, 29.8% | Male, 77.1% Female, 22.9% |
| 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% |