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The differences between product advisors and product managers can be seen in a few details. Each job has different responsibilities and duties. Additionally, a product manager has an average salary of $111,729, which is higher than the $88,696 average annual salary of a product advisor.
The top three skills for a product advisor include service offerings, technology solutions and powerpoint. The most important skills for a product manager are product management, QA, and product strategy.
A product advisor specializes in developing and recommending strategies to optimize a company's product development operations. Among their responsibilities include performing market research and analysis, determining trends and client needs, understanding and identifying project requirements, gathering and analyzing data on existing systems, and implementing solutions against problem areas. They may also study client feedback and competitor strategies, identify the strengths and weaknesses of current procedures, and develop strategic business plans in adherence to the company's policies and regulations, including its mission and vision.
A product manager is responsible for ensuring product development, providing the best marketing strategies, and effectively handling the sales and marketing team. Product managers' duties include monitoring the market trends and conditions, identifying business opportunities and plan initiatives, and collaborating the product launch process with the appropriate departments. A product manager is also responsible for generating ideas on improving product features, determining timetables and reasonable pricing, and analyzing product sales. A product manager must have excellent strategic and decision-making skills to contribute to its growth and profitability.
Product advisors and product managers have different pay scales, as shown below.
| Product Advisor | Product Manager | |
| Average salary | $88,696 | $111,729 |
| Salary range | Between $65,000 And $119,000 | Between $81,000 And $152,000 |
| Highest paying City | San Francisco, CA | San Francisco, CA |
| Highest paying state | California | California |
| Best paying company | Adobe | Meta |
| Best paying industry | Technology | Retail |
There are a few differences between a product advisor and a product manager in terms of educational background:
| Product Advisor | Product Manager | |
| Most common degree | Bachelor's Degree, 57% | Bachelor's Degree, 72% |
| Most common major | Business | Business |
| Most common college | - | University of Georgia |
Here are the differences between product advisors' and product managers' demographics:
| Product Advisor | Product Manager | |
| Average age | 41 | 39 |
| Gender ratio | Male, 59.8% Female, 40.2% | Male, 65.3% Female, 34.7% |
| Race ratio | Black or African American, 9.6% Unknown, 5.2% Hispanic or Latino, 20.8% Asian, 7.9% White, 55.8% 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 | 7% | 10% |