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The differences between principal product managers and product development managers can be seen in a few details. Each job has different responsibilities and duties. It typically takes 8-10 years to become both a principal product manager and a product development manager. Additionally, a principal product manager has an average salary of $145,943, which is higher than the $113,437 average annual salary of a product development manager.
The top three skills for a principal product manager include product management, QA and product development. The most important skills for a product development manager are product development, project management, and lifecycle management.
| Principal Product Manager | Product Development Manager | |
| Yearly salary | $145,943 | $113,437 |
| Hourly rate | $70.16 | $54.54 |
| Growth rate | 10% | 10% |
| Number of jobs | 143,985 | 166,871 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 67% | Bachelor's Degree, 73% |
| Average age | 39 | 39 |
| Years of experience | 10 | 10 |
The duties of a principal product manager depend on one's place or industry of employment. Typically, their responsibilities revolve around overseeing the organization's product roadmap, devising strategies for optimal operations and services, and managing production and marketing communications. They must also coordinate with different research scientists and engineers to develop systems and networks that will increase profitability and assist in meeting consumers' needs. Furthermore, as a manager, it is essential to lead and encourage teams, all while implementing the company's policies and regulations.
A product development manager spearheads the development of new products within a company. Most of the time, their responsibilities revolve around conducting marketing research and analysis to determine consumers' needs, coordinating with the product development team to come up with new ideas, proposing business plans to the executives, and creating prototypes. A product development manager must also present a cost analysis, produce progress reports, and address inquiries and concerns. Furthermore, as a manager, it is essential to lead and encourage the staff, all while adhering to the company's policies and regulations.
Principal product managers and product development managers have different pay scales, as shown below.
| Principal Product Manager | Product Development Manager | |
| Average salary | $145,943 | $113,437 |
| Salary range | Between $106,000 And $199,000 | Between $84,000 And $152,000 |
| Highest paying City | San Francisco, CA | San Francisco, CA |
| Highest paying state | Washington | Nevada |
| Best paying company | Brex | Meta |
| Best paying industry | Start-up | Retail |
There are a few differences between a principal product manager and a product development manager in terms of educational background:
| Principal Product Manager | Product Development Manager | |
| Most common degree | Bachelor's Degree, 67% | Bachelor's Degree, 73% |
| Most common major | Business | Business |
| Most common college | University of Georgia | University of Georgia |
Here are the differences between principal product managers' and product development managers' demographics:
| Principal Product Manager | Product Development Manager | |
| Average age | 39 | 39 |
| Gender ratio | Male, 73.9% Female, 26.1% | Male, 62.2% Female, 37.8% |
| 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% |