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The differences between senior managers, product development and market 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 senior manager, product development and a market development manager. Additionally, a senior manager, product development has an average salary of $128,407, which is higher than the $111,159 average annual salary of a market development manager.
The top three skills for a senior manager, product development include project management, product development and product management. The most important skills for a market development manager are digital marketing, market development, and competitor analysis.
| Senior Manager, Product Development | Market Development Manager | |
| Yearly salary | $128,407 | $111,159 |
| Hourly rate | $61.73 | $53.44 |
| Growth rate | 10% | 10% |
| Number of jobs | 192,651 | 173,901 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 72% | Bachelor's Degree, 76% |
| Average age | 39 | 39 |
| Years of experience | 10 | 10 |
A senior manager of product development is in charge of overseeing the efforts put into designing and manufacturing products, including quality control operations. Their responsibilities revolve around coordinating with different departments to gather data, performing research and analysis to assess existing procedures, and devising strategies to optimize processes. They may also set goals and schedules, produce progress reports, and spearhead the development of new products and services. Furthermore, as a senior manager, it is essential to lead and encourage the workforce to reach goals, all while implementing the company's policies and regulations.
A market development manager is in charge of overseeing marketing operations, ensuring efficiency and smooth workflow. Their responsibilities revolve around assessing existing projects and programs, identifying areas needing improvement, devising strategies to find new opportunities, and coordinating with different departments to ensure profitable growth and a strong client base. They are also in charge of creating training programs for new employees, managing the budget, and supervising marketing initiatives. Furthermore, as a manager, it is essential to lead and encourage teams to reach goals and optimal performance, all while implementing the company's policies and regulations.
Senior managers, product development and market development managers have different pay scales, as shown below.
| Senior Manager, Product Development | Market Development Manager | |
| Average salary | $128,407 | $111,159 |
| Salary range | Between $95,000 And $172,000 | Between $74,000 And $165,000 |
| Highest paying City | Woonsocket, RI | San Francisco, CA |
| Highest paying state | Rhode Island | Maryland |
| Best paying company | Credit Karma | Apple |
| Best paying industry | Professional | Technology |
There are a few differences between a senior manager, product development and a market development manager in terms of educational background:
| Senior Manager, Product Development | Market Development Manager | |
| Most common degree | Bachelor's Degree, 72% | Bachelor's Degree, 76% |
| Most common major | Business | Business |
| Most common college | University of Georgia | University of Georgia |
Here are the differences between senior managers, product development' and market development managers' demographics:
| Senior Manager, Product Development | Market Development Manager | |
| Average age | 39 | 39 |
| Gender ratio | Male, 64.6% Female, 35.4% | Male, 70.0% Female, 30.0% |
| 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% |