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The differences between product solution managers and product 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 solution manager and a product development manager. Additionally, a product development manager has an average salary of $113,437, which is higher than the $101,375 average annual salary of a product solution manager.
The top three skills for a product solution manager include market analysis, product development and product management. The most important skills for a product development manager are product development, project management, and lifecycle management.
| Product Solution Manager | Product Development Manager | |
| Yearly salary | $101,375 | $113,437 |
| Hourly rate | $48.74 | $54.54 |
| Growth rate | 10% | 10% |
| Number of jobs | 116,600 | 166,871 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 71% | Bachelor's Degree, 73% |
| Average age | 39 | 39 |
| Years of experience | 10 | 10 |
A project solution manager is in charge of overseeing the efforts put into developing and executing projects, ensuring efficiency and smooth workflow. Their responsibilities revolve around setting goals and objectives, managing budgets and schedules, supervising project solution teams, and devising strategies to optimize procedures. They must also monitor the progress and performance of the workforce, assisting them as needed. Furthermore, as a project solution manager, it is essential to lead and encourage the teams to reach goals, all while implementing the company's policies and regulations.
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.
Product solution managers and product development managers have different pay scales, as shown below.
| Product Solution Manager | Product Development Manager | |
| Average salary | $101,375 | $113,437 |
| Salary range | Between $73,000 And $140,000 | Between $84,000 And $152,000 |
| Highest paying City | San Francisco, CA | San Francisco, CA |
| Highest paying state | California | Nevada |
| Best paying company | Meta | Meta |
| Best paying industry | - | Retail |
There are a few differences between a product solution manager and a product development manager in terms of educational background:
| Product Solution Manager | Product Development Manager | |
| Most common degree | Bachelor's Degree, 71% | Bachelor's Degree, 73% |
| Most common major | Business | Business |
| Most common college | University of Georgia | University of Georgia |
Here are the differences between product solution managers' and product development managers' demographics:
| Product Solution Manager | Product Development Manager | |
| Average age | 39 | 39 |
| Gender ratio | Male, 71.4% Female, 28.6% | Male, 62.2% Female, 37.8% |
| 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% |