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The differences between new product managers and vice presidents, product management 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 vice president, product management. Additionally, a vice president, product management has an average salary of $183,231, 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 vice president, product management are product management, analytics, and product strategy.
| New Product Manager | Vice President, Product Management | |
| Yearly salary | $117,459 | $183,231 |
| Hourly rate | $56.47 | $88.09 |
| Growth rate | 10% | 10% |
| Number of jobs | 112,426 | 185,361 |
| 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 vice president of product management is responsible for handling the overall operational decisions of product deliverables, creating strategic procedures for product marketing strategy, and ensuring that the outputs provide the highest customer satisfaction. The vice president of product management monitors the department's budget, allocating adequate resources to every team to support operational promotions and research on current market trends. They also adjust product management approaches to meet the company's goals and objectives and identify opportunities to increase revenues and profitability.
New product managers and vice presidents, product management have different pay scales, as shown below.
| New Product Manager | Vice President, Product Management | |
| Average salary | $117,459 | $183,231 |
| Salary range | Between $79,000 And $174,000 | Between $127,000 And $262,000 |
| Highest paying City | San Francisco, CA | San Francisco, CA |
| Highest paying state | California | Alaska |
| Best paying company | Meta | Okta |
| Best paying industry | Retail | Start-up |
There are a few differences between a new product manager and a vice president, product management in terms of educational background:
| New Product Manager | Vice President, Product Management | |
| 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 vice presidents, product management' demographics:
| New Product Manager | Vice President, Product Management | |
| Average age | 39 | 39 |
| Gender ratio | Male, 70.2% Female, 29.8% | Male, 80.9% Female, 19.1% |
| 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, 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% |