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The differences between vice presidents, business development and vice presidents, product management 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 vice president, business development, becoming a vice president, product management takes usually requires 8-10 years. Additionally, a vice president, product management has an average salary of $183,231, which is higher than the $165,159 average annual salary of a vice president, business development.
The top three skills for a vice president, business development include healthcare, business strategy and revenue growth. The most important skills for a vice president, product management are product management, analytics, and product strategy.
| Vice President, Business Development | Vice President, Product Management | |
| Yearly salary | $165,159 | $183,231 |
| Hourly rate | $79.40 | $88.09 |
| Growth rate | 6% | 10% |
| Number of jobs | 188,137 | 185,361 |
| Job satisfaction | 5 | - |
| Most common degree | Bachelor's Degree, 73% | Bachelor's Degree, 70% |
| Average age | 52 | 39 |
| Years of experience | - | 10 |
A vice president of business development is an individual who leads in the execution of business plans and provides new business strategies for an organization. Vice presidents of business development closely work with a team of salespeople, management, and lower-level employees to secure contracts with new customers and manage ongoing agreements. They often travel to participate in business conferences and meetings with vendors and suppliers. Vice presidents of business development must also possess a bachelor's degree in business administration or marketing.
A vice president of product management is responsible for handling the overall operational decisions of product deliverables, creating strategic procedures for product marketing strategy, and ensuring that the outputs provide the highest customer satisfaction. The vice president of product management monitors the department's budget, allocating adequate resources to every team to support operational promotions and research on current market trends. They also adjust product management approaches to meet the company's goals and objectives and identify opportunities to increase revenues and profitability.
Vice presidents, business development and vice presidents, product management have different pay scales, as shown below.
| Vice President, Business Development | Vice President, Product Management | |
| Average salary | $165,159 | $183,231 |
| Salary range | Between $104,000 And $262,000 | Between $127,000 And $262,000 |
| Highest paying City | Seattle, WA | San Francisco, CA |
| Highest paying state | Washington | Alaska |
| Best paying company | Fanatics | Okta |
| Best paying industry | Manufacturing | Start-up |
There are a few differences between a vice president, business development and a vice president, product management in terms of educational background:
| Vice President, Business Development | Vice President, Product Management | |
| Most common degree | Bachelor's Degree, 73% | Bachelor's Degree, 70% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Georgia |
Here are the differences between vice presidents, business development' and vice presidents, product management' demographics:
| Vice President, Business Development | Vice President, Product Management | |
| Average age | 52 | 39 |
| Gender ratio | Male, 81.3% Female, 18.7% | Male, 80.9% Female, 19.1% |
| Race ratio | Black or African American, 3.8% Unknown, 3.9% Hispanic or Latino, 7.9% Asian, 7.7% White, 76.1% American Indian and Alaska Native, 0.6% | 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 | 12% | 10% |