Explore jobs
Find specific jobs
Explore careers
Explore professions
Best companies
Explore companies
The differences between new product managers and project managers can be seen in a few details. Each job has different responsibilities and duties. Additionally, a new product manager has an average salary of $117,459, which is higher than the $91,578 average annual salary of a project manager.
The top three skills for a new product manager include market research, product management and project management. The most important skills for a project manager are project management, project scope, and customer service.
| New Product Manager | Project Manager | |
| Yearly salary | $117,459 | $91,578 |
| Hourly rate | $56.47 | $44.03 |
| Growth rate | 10% | 8% |
| Number of jobs | 112,426 | 167,116 |
| Job satisfaction | - | 4.17 |
| Most common degree | Bachelor's Degree, 70% | Bachelor's Degree, 68% |
| Average age | 39 | 47 |
| Years of experience | 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.
Project managers oversee a specific project related to the organization's business. They manage the whole project from inception to evaluation. They initiate planning with involved departments, follow-through on the plans, ensure smooth execution of the plans, and evaluate the project for further improvements should these be needed. In line with this, project managers also ensure that the project is cost-efficient and well within the budget. They also manage the different work teams involved in the project and ensure that things are running smoothly on this aspect as well.
New product managers and project managers have different pay scales, as shown below.
| New Product Manager | Project Manager | |
| Average salary | $117,459 | $91,578 |
| Salary range | Between $79,000 And $174,000 | Between $64,000 And $129,000 |
| Highest paying City | San Francisco, CA | San Francisco, CA |
| Highest paying state | California | California |
| Best paying company | Meta | The Citadel |
| Best paying industry | Retail | Technology |
There are a few differences between a new product manager and a project manager in terms of educational background:
| New Product Manager | Project Manager | |
| Most common degree | Bachelor's Degree, 70% | Bachelor's Degree, 68% |
| Most common major | Business | Business |
| Most common college | University of Georgia | University of Pennsylvania |
Here are the differences between new product managers' and project managers' demographics:
| New Product Manager | Project Manager | |
| Average age | 39 | 47 |
| Gender ratio | Male, 70.2% Female, 29.8% | Male, 68.9% Female, 31.1% |
| 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, 7.7% Unknown, 4.7% Hispanic or Latino, 12.9% Asian, 9.0% White, 65.0% American Indian and Alaska Native, 0.7% |
| LGBT Percentage | 10% | 10% |