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The differences between research and development managers and product development managers can be seen in a few details. Each job has different responsibilities and duties. While it typically takes More than 10 years to become a research and development manager, becoming a product development manager takes usually requires 8-10 years. Additionally, a research and development manager has an average salary of $117,507, which is higher than the $113,437 average annual salary of a product development manager.
The top three skills for a research and development manager include R, customer service and project management. The most important skills for a product development manager are product development, project management, and lifecycle management.
| Research And Development Manager | Product Development Manager | |
| Yearly salary | $117,507 | $113,437 |
| Hourly rate | $56.49 | $54.54 |
| Growth rate | 2% | 10% |
| Number of jobs | 125,447 | 166,871 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 62% | Bachelor's Degree, 73% |
| Average age | 48 | 39 |
| Years of experience | - | 10 |
A research and development manager is responsible for supervising project development procedures to support business operations and identify business opportunities that would pave the way for more revenue resources and profits. Research and development managers monitor the production plans from the conceptualization to the final outputs, inspecting inconsistencies and flaws in every phase and revising strategies as needed to achieve the required specifications and requirements. They delegate tasks to the staff, oversee progress, and conduct research and development programs to maximize productivity and team efforts.
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.
Research and development managers and product development managers have different pay scales, as shown below.
| Research And Development Manager | Product Development Manager | |
| Average salary | $117,507 | $113,437 |
| Salary range | Between $78,000 And $174,000 | Between $84,000 And $152,000 |
| Highest paying City | San Francisco, CA | San Francisco, CA |
| Highest paying state | Washington | Nevada |
| Best paying company | Meta | Meta |
| Best paying industry | Professional | Retail |
There are a few differences between a research and development manager and a product development manager in terms of educational background:
| Research And Development Manager | Product Development Manager | |
| Most common degree | Bachelor's Degree, 62% | Bachelor's Degree, 73% |
| Most common major | Chemistry | Business |
| Most common college | University of Michigan - Ann Arbor | University of Georgia |
Here are the differences between research and development managers' and product development managers' demographics:
| Research And Development Manager | Product Development Manager | |
| Average age | 48 | 39 |
| Gender ratio | Male, 72.3% Female, 27.7% | Male, 62.2% Female, 37.8% |
| Race ratio | Black or African American, 2.9% Unknown, 4.5% Hispanic or Latino, 8.0% Asian, 17.9% White, 66.5% 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 | 9% | 10% |