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The differences between senior managers, product development and senior business 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 senior business development manager. Additionally, a senior business development manager has an average salary of $129,638, which is higher than the $128,407 average annual salary of a senior manager, product development.
The top three skills for a senior manager, product development include project management, product development and product management. The most important skills for a senior business development manager are healthcare, cloud, and business relationships.
| Senior Manager, Product Development | Senior Business Development Manager | |
| Yearly salary | $128,407 | $129,638 |
| Hourly rate | $61.73 | $62.33 |
| Growth rate | 10% | 10% |
| Number of jobs | 192,651 | 204,172 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 72% | Bachelor's Degree, 73% |
| 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.
As senior business development manager is mainly responsible for creating and maintaining solid relationships and making business decisions. They do plan ways to grow the business, find areas of client needs, manage business negotiations, and review and approve other business decisions. It is expected in their job to seamlessly complete target deadlines and delegate tasks to subordinates. Moreover, they should be able to have good working relationships with employees and clients, so good communication and interpersonal skills are necessary.
Senior managers, product development and senior business development managers have different pay scales, as shown below.
| Senior Manager, Product Development | Senior Business Development Manager | |
| Average salary | $128,407 | $129,638 |
| Salary range | Between $95,000 And $172,000 | Between $94,000 And $178,000 |
| Highest paying City | Woonsocket, RI | Seattle, WA |
| Highest paying state | Rhode Island | Washington |
| Best paying company | Credit Karma | Shearman & Sterling |
| Best paying industry | Professional | Manufacturing |
There are a few differences between a senior manager, product development and a senior business development manager in terms of educational background:
| Senior Manager, Product Development | Senior Business Development Manager | |
| Most common degree | Bachelor's Degree, 72% | Bachelor's Degree, 73% |
| Most common major | Business | Business |
| Most common college | University of Georgia | University of Georgia |
Here are the differences between senior managers, product development' and senior business development managers' demographics:
| Senior Manager, Product Development | Senior Business Development Manager | |
| Average age | 39 | 39 |
| Gender ratio | Male, 64.6% Female, 35.4% | Male, 74.8% Female, 25.2% |
| 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% |