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The differences between value engineers and product development engineers can be seen in a few details. Each job has different responsibilities and duties. While it typically takes 2-4 years to become a value engineer, becoming a product development engineer takes usually requires 4-6 years. Additionally, a value engineer has an average salary of $88,531, which is higher than the $86,075 average annual salary of a product development engineer.
The top three skills for a value engineer include project management, CAD and sigma. The most important skills for a product development engineer are CAD, solidworks, and product development.
| Value Engineer | Product Development Engineer | |
| Yearly salary | $88,531 | $86,075 |
| Hourly rate | $42.56 | $41.38 |
| Growth rate | 10% | 2% |
| Number of jobs | 47,777 | 202,155 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 71% | Bachelor's Degree, 75% |
| Average age | 42 | 41 |
| Years of experience | 4 | 6 |
A value engineer specializes in designing and developing procedures and strategies to enhance the value of projects and operations in an organization. Although the extent of their responsibilities varies on their company or industry of employment, it usually includes conducting research and analysis, reviewing documentation, developing tools, creating and presenting financial models, and help in developing processes and practices to optimize operations. Moreover, a value engineer typically works in a team environment, which requires an active communication line for a safe and efficient workflow.
A Product Development Engineer is responsible for creating and testing new product designs. They collaborate with market researchers to evaluate market needs, existing competition, and potential costs.
Value engineers and product development engineers have different pay scales, as shown below.
| Value Engineer | Product Development Engineer | |
| Average salary | $88,531 | $86,075 |
| Salary range | Between $63,000 And $124,000 | Between $64,000 And $113,000 |
| Highest paying City | San Francisco, CA | Sunnyvale, CA |
| Highest paying state | California | California |
| Best paying company | Amazon | Amazon |
| Best paying industry | Manufacturing | Technology |
There are a few differences between a value engineer and a product development engineer in terms of educational background:
| Value Engineer | Product Development Engineer | |
| Most common degree | Bachelor's Degree, 71% | Bachelor's Degree, 75% |
| Most common major | Mechanical Engineering | Mechanical Engineering |
| Most common college | Northwestern University | Michigan Technological University |
Here are the differences between value engineers' and product development engineers' demographics:
| Value Engineer | Product Development Engineer | |
| Average age | 42 | 41 |
| Gender ratio | Male, 89.6% Female, 10.4% | Male, 86.8% Female, 13.2% |
| Race ratio | Black or African American, 4.7% Unknown, 3.9% Hispanic or Latino, 11.5% Asian, 12.2% White, 67.5% American Indian and Alaska Native, 0.2% | Black or African American, 3.1% Unknown, 4.5% Hispanic or Latino, 7.8% Asian, 16.7% White, 67.9% American Indian and Alaska Native, 0.1% |
| LGBT Percentage | 4% | 5% |