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The differences between vice presidents product development and product owners can be seen in a few details. Each job has different responsibilities and duties. It typically takes 8-10 years to become both a vice president product development and a product owner. Additionally, a vice president product development has an average salary of $168,835, which is higher than the $97,070 average annual salary of a product owner.
The top three skills for a vice president product development include product development, R and analytics. The most important skills for a product owner are user stories, acceptance criteria, and product backlog.
| Vice President Product Development | Product Owner | |
| Yearly salary | $168,835 | $97,070 |
| Hourly rate | $81.17 | $46.67 |
| Growth rate | 10% | 10% |
| Number of jobs | 180,783 | 129,990 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 71% | Bachelor's Degree, 67% |
| Average age | 39 | 39 |
| Years of experience | 10 | 10 |
A vice president for product development is responsible for leading the product development team in the execution of development activities to enhance the product's brand image in the market and achieve the sales performance target. Vice presidents for product development monitor the product development techniques from the conceptualization to the final execution and market release. They also handle the budget and resource allocation to support product development operations, ensuring that the outputs meet the quality standards and timetables.
Product owners are at the forefront of an organization's development cycle. They have various duties and responsibilities, which include ensuring that the value of products created by the development team is maximized, creating a vision and defining the goals for development projects, and working closely with all stakeholders. As the product owner, you are responsible for ensuring that the development team maintains a consistent vision and overseeing the product backlog. You are also expected to supervise the actual product development stages and anticipate the needs of clients.
Vice presidents product development and product owners have different pay scales, as shown below.
| Vice President Product Development | Product Owner | |
| Average salary | $168,835 | $97,070 |
| Salary range | Between $109,000 And $259,000 | Between $71,000 And $130,000 |
| Highest paying City | San Francisco, CA | San Francisco, CA |
| Highest paying state | Washington | California |
| Best paying company | ORIX USA | |
| Best paying industry | Technology | Manufacturing |
There are a few differences between a vice president product development and a product owner in terms of educational background:
| Vice President Product Development | Product Owner | |
| Most common degree | Bachelor's Degree, 71% | Bachelor's Degree, 67% |
| Most common major | Business | Business |
| Most common college | University of Georgia | University of Georgia |
Here are the differences between vice presidents product development' and product owners' demographics:
| Vice President Product Development | Product Owner | |
| Average age | 39 | 39 |
| Gender ratio | Male, 78.1% Female, 21.9% | Male, 64.3% Female, 35.7% |
| 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% |