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The differences between product owners and vice presidents, product management 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 owner and a vice president, product management. Additionally, a vice president, product management has an average salary of $183,231, which is higher than the $97,070 average annual salary of a product owner.
The top three skills for a product owner include user stories, acceptance criteria and product backlog. The most important skills for a vice president, product management are product management, analytics, and product strategy.
| Product Owner | Vice President, Product Management | |
| Yearly salary | $97,070 | $183,231 |
| Hourly rate | $46.67 | $88.09 |
| Growth rate | 10% | 10% |
| Number of jobs | 129,990 | 185,361 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 67% | Bachelor's Degree, 70% |
| Average age | 39 | 39 |
| Years of experience | 10 | 10 |
Product owners are at the forefront of an organization's development cycle. They have various duties and responsibilities, which include ensuring that the value of products created by the development team is maximized, creating a vision and defining the goals for development projects, and working closely with all stakeholders. As the product owner, you are responsible for ensuring that the development team maintains a consistent vision and overseeing the product backlog. You are also expected to supervise the actual product development stages and anticipate the needs of clients.
A vice president of product management is responsible for handling the overall operational decisions of product deliverables, creating strategic procedures for product marketing strategy, and ensuring that the outputs provide the highest customer satisfaction. The vice president of product management monitors the department's budget, allocating adequate resources to every team to support operational promotions and research on current market trends. They also adjust product management approaches to meet the company's goals and objectives and identify opportunities to increase revenues and profitability.
Product owners and vice presidents, product management have different pay scales, as shown below.
| Product Owner | Vice President, Product Management | |
| Average salary | $97,070 | $183,231 |
| Salary range | Between $71,000 And $130,000 | Between $127,000 And $262,000 |
| Highest paying City | San Francisco, CA | San Francisco, CA |
| Highest paying state | California | Alaska |
| Best paying company | ORIX USA | Okta |
| Best paying industry | Manufacturing | Start-up |
There are a few differences between a product owner and a vice president, product management in terms of educational background:
| Product Owner | Vice President, Product Management | |
| Most common degree | Bachelor's Degree, 67% | Bachelor's Degree, 70% |
| Most common major | Business | Business |
| Most common college | University of Georgia | University of Georgia |
Here are the differences between product owners' and vice presidents, product management' demographics:
| Product Owner | Vice President, Product Management | |
| Average age | 39 | 39 |
| Gender ratio | Male, 64.3% Female, 35.7% | Male, 80.9% Female, 19.1% |
| 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% |