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The differences between vice presidents, product management and product development managers 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 management and a product development manager. Additionally, a vice president, product management has an average salary of $183,231, which is higher than the $113,437 average annual salary of a product development manager.
The top three skills for a vice president, product management include product management, analytics and product strategy. The most important skills for a product development manager are product development, project management, and lifecycle management.
| Vice President, Product Management | Product Development Manager | |
| Yearly salary | $183,231 | $113,437 |
| Hourly rate | $88.09 | $54.54 |
| Growth rate | 10% | 10% |
| Number of jobs | 185,361 | 166,871 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 70% | Bachelor's Degree, 73% |
| Average age | 39 | 39 |
| Years of experience | 10 | 10 |
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.
A product development manager spearheads the development of new products within a company. Most of the time, their responsibilities revolve around conducting marketing research and analysis to determine consumers' needs, coordinating with the product development team to come up with new ideas, proposing business plans to the executives, and creating prototypes. A product development manager must also present a cost analysis, produce progress reports, and address inquiries and concerns. Furthermore, as a manager, it is essential to lead and encourage the staff, all while adhering to the company's policies and regulations.
Vice presidents, product management and product development managers have different pay scales, as shown below.
| Vice President, Product Management | Product Development Manager | |
| Average salary | $183,231 | $113,437 |
| Salary range | Between $127,000 And $262,000 | Between $84,000 And $152,000 |
| Highest paying City | San Francisco, CA | San Francisco, CA |
| Highest paying state | Alaska | Nevada |
| Best paying company | Okta | Meta |
| Best paying industry | Start-up | Retail |
There are a few differences between a vice president, product management and a product development manager in terms of educational background:
| Vice President, Product Management | Product Development Manager | |
| Most common degree | Bachelor's Degree, 70% | Bachelor's Degree, 73% |
| Most common major | Business | Business |
| Most common college | University of Georgia | University of Georgia |
Here are the differences between vice presidents, product management' and product development managers' demographics:
| Vice President, Product Management | Product Development Manager | |
| Average age | 39 | 39 |
| Gender ratio | Male, 80.9% Female, 19.1% | Male, 62.2% Female, 37.8% |
| 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% |