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The differences between product development managers and product managers lead can be seen in a few details. Each job has different responsibilities and duties. It typically takes 8-10 years to become both a product development manager and a product manager lead. Additionally, a product manager lead has an average salary of $138,531, which is higher than the $113,437 average annual salary of a product development manager.
The top three skills for a product development manager include product development, project management and lifecycle management. The most important skills for a product manager lead are architecture, QA, and product management.
| Product Development Manager | Product Manager Lead | |
| Yearly salary | $113,437 | $138,531 |
| Hourly rate | $54.54 | $66.60 |
| Growth rate | 10% | 10% |
| Number of jobs | 166,871 | 110,157 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 73% | Bachelor's Degree, 68% |
| Average age | 39 | 39 |
| Years of experience | 10 | 10 |
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.
A product manager lead is responsible for supervising the development and strategic launch of the company's products from conceptualization to final market release. Product managers work closely with the marketing and sales team to identify efficient promotional techniques to enhance the brand's image across the market and develop outstanding features according to trends and public demands. They also handle media commitments and press releases and maximize product vision. A product manager lead directs the budgeting and sales forecasting, ensuring that the process adheres to budget limitations and deadlines.
Product development managers and product managers lead have different pay scales, as shown below.
| Product Development Manager | Product Manager Lead | |
| Average salary | $113,437 | $138,531 |
| Salary range | Between $84,000 And $152,000 | Between $99,000 And $192,000 |
| Highest paying City | San Francisco, CA | San Francisco, CA |
| Highest paying state | Nevada | California |
| Best paying company | Meta | The Walt Disney Company |
| Best paying industry | Retail | Start-up |
There are a few differences between a product development manager and a product manager lead in terms of educational background:
| Product Development Manager | Product Manager Lead | |
| Most common degree | Bachelor's Degree, 73% | Bachelor's Degree, 68% |
| Most common major | Business | Business |
| Most common college | University of Georgia | University of Georgia |
Here are the differences between product development managers' and product managers lead' demographics:
| Product Development Manager | Product Manager Lead | |
| Average age | 39 | 39 |
| Gender ratio | Male, 62.2% Female, 37.8% | Male, 69.4% Female, 30.6% |
| 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% |