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The differences between vice presidents product development and vice presidents, business development can be seen in a few details. Each job has different responsibilities and duties. While it typically takes 8-10 years to become a vice president product development, becoming a vice president, business development takes usually requires More than 10 years. Additionally, a vice president product development has an average salary of $168,835, which is higher than the $165,159 average annual salary of a vice president, business development.
The top three skills for a vice president product development include product development, R and analytics. The most important skills for a vice president, business development are healthcare, business strategy, and revenue growth.
| Vice President Product Development | Vice President, Business Development | |
| Yearly salary | $168,835 | $165,159 |
| Hourly rate | $81.17 | $79.40 |
| Growth rate | 10% | 6% |
| Number of jobs | 180,783 | 188,137 |
| Job satisfaction | - | 5 |
| Most common degree | Bachelor's Degree, 71% | Bachelor's Degree, 73% |
| Average age | 39 | 52 |
| Years of experience | 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.
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.
Vice presidents product development and vice presidents, business development have different pay scales, as shown below.
| Vice President Product Development | Vice President, Business Development | |
| Average salary | $168,835 | $165,159 |
| Salary range | Between $109,000 And $259,000 | Between $104,000 And $262,000 |
| Highest paying City | San Francisco, CA | Seattle, WA |
| Highest paying state | Washington | Washington |
| Best paying company | Fanatics | |
| Best paying industry | Technology | Manufacturing |
There are a few differences between a vice president product development and a vice president, business development in terms of educational background:
| Vice President Product Development | Vice President, Business Development | |
| Most common degree | Bachelor's Degree, 71% | Bachelor's Degree, 73% |
| Most common major | Business | Business |
| Most common college | University of Georgia | University of Pennsylvania |
Here are the differences between vice presidents product development' and vice presidents, business development' demographics:
| Vice President Product Development | Vice President, Business Development | |
| Average age | 39 | 52 |
| Gender ratio | Male, 78.1% Female, 21.9% | Male, 81.3% Female, 18.7% |
| 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, 3.8% Unknown, 3.9% Hispanic or Latino, 7.9% Asian, 7.7% White, 76.1% American Indian and Alaska Native, 0.6% |
| LGBT Percentage | 10% | 12% |