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The differences between vice presidents product development and vice presidents 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 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 $158,637 average annual salary of a vice president.
The top three skills for a vice president product development include product development, R and analytics. The most important skills for a vice president are healthcare, oversight, and project management.
| Vice President Product Development | Vice President | |
| Yearly salary | $168,835 | $158,637 |
| Hourly rate | $81.17 | $76.27 |
| Growth rate | 10% | 6% |
| Number of jobs | 180,783 | 119,530 |
| Job satisfaction | - | 4 |
| Most common degree | Bachelor's Degree, 71% | Bachelor's Degree, 72% |
| 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.
Vice presidents are usually considered the second-in-command in the organization, depending on the organization structure. They take over when the president is unavailable to fulfill duties. They may also represent the organization in external events and other official functions. They are important members of the boardroom, and their opinions are usually sought after as well. Vice presidents are usually poised to follow the president's footsteps in the organization, especially if the president is nearing retirement. They also make urgent and crucial decisions when the president is not available to do so. Vice presidents must have strong business acumen, decision-making skills, and professionalism.
Vice presidents product development and vice presidents have different pay scales, as shown below.
| Vice President Product Development | Vice President | |
| Average salary | $168,835 | $158,637 |
| Salary range | Between $109,000 And $259,000 | Between $107,000 And $235,000 |
| Highest paying City | San Francisco, CA | San Francisco, CA |
| Highest paying state | Washington | New York |
| Best paying company | Brookfield Properties | |
| Best paying industry | Technology | Manufacturing |
There are a few differences between a vice president product development and a vice president in terms of educational background:
| Vice President Product Development | Vice President | |
| Most common degree | Bachelor's Degree, 71% | Bachelor's Degree, 72% |
| 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' demographics:
| Vice President Product Development | Vice President | |
| Average age | 39 | 52 |
| Gender ratio | Male, 78.1% Female, 21.9% | Male, 65.8% Female, 34.2% |
| 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, 3.7% Unknown, 3.9% Hispanic or Latino, 7.6% Asian, 7.5% White, 76.7% American Indian and Alaska Native, 0.6% |
| LGBT Percentage | 10% | 12% |