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The differences between owners and product owners can be seen in a few details. Each job has different responsibilities and duties. While it typically takes More than 10 years to become an owner, becoming a product owner takes usually requires 8-10 years. Additionally, a product owner has an average salary of $97,070, which is higher than the $90,334 average annual salary of an owner.
The top three skills for an owner include customer service, payroll and financial statements. The most important skills for a product owner are user stories, acceptance criteria, and product backlog.
| Owner | Product Owner | |
| Yearly salary | $90,334 | $97,070 |
| Hourly rate | $43.43 | $46.67 |
| Growth rate | 6% | 10% |
| Number of jobs | 86,486 | 129,990 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 52% | Bachelor's Degree, 67% |
| Average age | 52 | 39 |
| Years of experience | - | 10 |
Owners, in the most basic sense, own the business, company, or organization. They are responsible for building the business. They create business plans and the general vision and mission of the company, set goals, work on these goals, and ensure that the business keeps running. They manage all aspects of their business, from finances to marketing to people, etc. When the business becomes stable, owners eventually hire more employees. As such, owners also become overseers who would ensure that the organization remains afloat.
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.
Owners and product owners have different pay scales, as shown below.
| Owner | Product Owner | |
| Average salary | $90,334 | $97,070 |
| Salary range | Between $60,000 And $135,000 | Between $71,000 And $130,000 |
| Highest paying City | New York, NY | San Francisco, CA |
| Highest paying state | New Jersey | California |
| Best paying company | BP America Inc | ORIX USA |
| Best paying industry | - | Manufacturing |
There are a few differences between an owner and a product owner in terms of educational background:
| Owner | Product Owner | |
| Most common degree | Bachelor's Degree, 52% | Bachelor's Degree, 67% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Georgia |
Here are the differences between owners' and product owners' demographics:
| Owner | Product Owner | |
| Average age | 52 | 39 |
| Gender ratio | Male, 63.1% Female, 36.9% | Male, 64.3% Female, 35.7% |
| Race ratio | Black or African American, 3.7% Unknown, 3.9% Hispanic or Latino, 7.6% Asian, 7.5% White, 76.7% American Indian and Alaska Native, 0.6% | 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 | 12% | 10% |