Explore jobs
Find specific jobs
Explore careers
Explore professions
Best companies
Explore companies
The differences between new product managers and product owners 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 owner. Additionally, a new product manager has an average salary of $117,459, which is higher than the $97,070 average annual salary of a product owner.
The top three skills for a new product manager include market research, product management and project management. The most important skills for a product owner are user stories, acceptance criteria, and product backlog.
| New Product Manager | Product Owner | |
| Yearly salary | $117,459 | $97,070 |
| Hourly rate | $56.47 | $46.67 |
| Growth rate | 10% | 10% |
| Number of jobs | 112,426 | 129,990 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 70% | Bachelor's Degree, 67% |
| 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.
Product owners are at the forefront of an organization's development cycle. They have various duties and responsibilities, which include ensuring that the value of products created by the development team is maximized, creating a vision and defining the goals for development projects, and working closely with all stakeholders. As the product owner, you are responsible for ensuring that the development team maintains a consistent vision and overseeing the product backlog. You are also expected to supervise the actual product development stages and anticipate the needs of clients.
New product managers and product owners have different pay scales, as shown below.
| New Product Manager | Product Owner | |
| Average salary | $117,459 | $97,070 |
| Salary range | Between $79,000 And $174,000 | Between $71,000 And $130,000 |
| Highest paying City | San Francisco, CA | San Francisco, CA |
| Highest paying state | California | California |
| Best paying company | Meta | ORIX USA |
| Best paying industry | Retail | Manufacturing |
There are a few differences between a new product manager and a product owner in terms of educational background:
| New Product Manager | Product Owner | |
| Most common degree | Bachelor's Degree, 70% | Bachelor's Degree, 67% |
| Most common major | Business | Business |
| Most common college | University of Georgia | University of Georgia |
Here are the differences between new product managers' and product owners' demographics:
| New Product Manager | Product Owner | |
| Average age | 39 | 39 |
| Gender ratio | Male, 70.2% Female, 29.8% | Male, 64.3% Female, 35.7% |
| 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% |