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The differences between product specialists and business development specialists can be seen in a few details. Each job has different responsibilities and duties. Additionally, a product specialist has an average salary of $85,932, which is higher than the $57,410 average annual salary of a business development specialist.
The top three skills for a product specialist include customer service, product knowledge and sales floor. The most important skills for a business development specialist are work ethic, CRM, and customer service.
| Product Specialist | Business Development Specialist | |
| Yearly salary | $85,932 | $57,410 |
| Hourly rate | $41.31 | $27.60 |
| Growth rate | 19% | 10% |
| Number of jobs | 103,863 | 182,116 |
| Job satisfaction | 5 | - |
| Most common degree | Bachelor's Degree, 64% | Bachelor's Degree, 73% |
| Average age | 37 | 44 |
| Years of experience | 6 | - |
A product specialist is required to have excellent knowledge about a product and work with a business unit to ensure excellent product delivery. Product specialists perform product demonstrations to customers and other stakeholders and assist in their promotions and product releases. To gain increased revenue, product specialists must be able to identify new market opportunities. They are required to conduct product and sales training for the marketing team. They must also provide reports about their product-related activities to the management.
A business development specialist is an expert who determines opportunities for marketing strategy optimization and business growth. The specialists perform business process and financial analysis, effective network creation, and business plan implementation. Being a good business development specialist requires knowledge and experience in managing a business. The skillset for the position includes a strong command in English, information technology, attention to detail, and written and verbal communication.
Product specialists and business development specialists have different pay scales, as shown below.
| Product Specialist | Business Development Specialist | |
| Average salary | $85,932 | $57,410 |
| Salary range | Between $56,000 And $130,000 | Between $38,000 And $85,000 |
| Highest paying City | San Bruno, CA | Jersey City, NJ |
| Highest paying state | California | Wisconsin |
| Best paying company | ByteDance | Corsair |
| Best paying industry | Technology | Finance |
There are a few differences between a product specialist and a business development specialist in terms of educational background:
| Product Specialist | Business Development Specialist | |
| Most common degree | Bachelor's Degree, 64% | Bachelor's Degree, 73% |
| Most common major | Business | Business |
| Most common college | University of Georgia | Western Carolina University |
Here are the differences between product specialists' and business development specialists' demographics:
| Product Specialist | Business Development Specialist | |
| Average age | 37 | 44 |
| Gender ratio | Male, 59.8% Female, 40.2% | Male, 50.7% Female, 49.3% |
| Race ratio | Black or African American, 5.2% Unknown, 5.0% Hispanic or Latino, 12.5% Asian, 10.6% White, 66.6% American Indian and Alaska Native, 0.1% | Black or African American, 6.4% Unknown, 4.6% Hispanic or Latino, 9.4% Asian, 8.8% White, 70.4% American Indian and Alaska Native, 0.4% |
| LGBT Percentage | 10% | 11% |