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The differences between product development managers and senior business 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 product development manager and a senior business development manager. Additionally, a senior business development manager has an average salary of $129,638, 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 senior business development manager are healthcare, cloud, and business relationships.
| Product Development Manager | Senior Business Development Manager | |
| Yearly salary | $113,437 | $129,638 |
| Hourly rate | $54.54 | $62.33 |
| Growth rate | 10% | 10% |
| Number of jobs | 166,871 | 204,172 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 73% | Bachelor's Degree, 73% |
| 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.
As senior business development manager is mainly responsible for creating and maintaining solid relationships and making business decisions. They do plan ways to grow the business, find areas of client needs, manage business negotiations, and review and approve other business decisions. It is expected in their job to seamlessly complete target deadlines and delegate tasks to subordinates. Moreover, they should be able to have good working relationships with employees and clients, so good communication and interpersonal skills are necessary.
Product development managers and senior business development managers have different pay scales, as shown below.
| Product Development Manager | Senior Business Development Manager | |
| Average salary | $113,437 | $129,638 |
| Salary range | Between $84,000 And $152,000 | Between $94,000 And $178,000 |
| Highest paying City | San Francisco, CA | Seattle, WA |
| Highest paying state | Nevada | Washington |
| Best paying company | Meta | Shearman & Sterling |
| Best paying industry | Retail | Manufacturing |
There are a few differences between a product development manager and a senior business development manager in terms of educational background:
| Product Development Manager | Senior Business Development Manager | |
| Most common degree | Bachelor's Degree, 73% | Bachelor's Degree, 73% |
| Most common major | Business | Business |
| Most common college | University of Georgia | University of Georgia |
Here are the differences between product development managers' and senior business development managers' demographics:
| Product Development Manager | Senior Business Development Manager | |
| Average age | 39 | 39 |
| Gender ratio | Male, 62.2% Female, 37.8% | Male, 74.8% Female, 25.2% |
| 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% |