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The differences between product development managers and vice presidents product development 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 vice president product development. Additionally, a vice president product development has an average salary of $168,835, 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 vice president product development are product development, R, and analytics.
| Product Development Manager | Vice President Product Development | |
| Yearly salary | $113,437 | $168,835 |
| Hourly rate | $54.54 | $81.17 |
| Growth rate | 10% | 10% |
| Number of jobs | 166,871 | 180,783 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 73% | Bachelor's Degree, 71% |
| 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 vice president for product development is responsible for leading the product development team in the execution of development activities to enhance the product's brand image in the market and achieve the sales performance target. Vice presidents for product development monitor the product development techniques from the conceptualization to the final execution and market release. They also handle the budget and resource allocation to support product development operations, ensuring that the outputs meet the quality standards and timetables.
Product development managers and vice presidents product development have different pay scales, as shown below.
| Product Development Manager | Vice President Product Development | |
| Average salary | $113,437 | $168,835 |
| Salary range | Between $84,000 And $152,000 | Between $109,000 And $259,000 |
| Highest paying City | San Francisco, CA | San Francisco, CA |
| Highest paying state | Nevada | Washington |
| Best paying company | Meta | |
| Best paying industry | Retail | Technology |
There are a few differences between a product development manager and a vice president product development in terms of educational background:
| Product Development Manager | Vice President Product Development | |
| Most common degree | Bachelor's Degree, 73% | Bachelor's Degree, 71% |
| Most common major | Business | Business |
| Most common college | University of Georgia | University of Georgia |
Here are the differences between product development managers' and vice presidents product development' demographics:
| Product Development Manager | Vice President Product Development | |
| Average age | 39 | 39 |
| Gender ratio | Male, 62.2% Female, 37.8% | Male, 78.1% Female, 21.9% |
| 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% |