Economic Development Director Salary

Close to one-half of Economic Development Directors in the United States are seasoned employees who have more than 10 years of experience in the field. Pay ranges from $45K to $109K per year, and the average comes out to $67K per year. Medical benefits are awarded to a large number, and the greater part earn dental coverage. Women make up a slight majority of Economic Development Directors (52 percent) survey respondents. The majority of workers are highly satisfied with their job.

$44,326 - $104,265

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National Salary Data (?
XAll compensation data shown are gross 10th to 90th percentile ranges. Take the PayScale Survey to find out how location influences pay for this job.
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$0$50K$100K$150K
Salary
$44,326 - $104,265  
   
Bonus
$0.00 - $9,759  
Total Pay (?
XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).
)
$45,290 - $108,688  
Country: United States | Currency: USD | Updated: 18 Jul 2015 | Individuals Reporting: 203
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Job Description for Economic Development Director

Economic development directors oversee fundamental tasks regarding the advancement of their company's economic development. Those in this position are expected to develop policies which facilitate the growth of their area of operation and develop working relationships with members of the community, including local businesses and the general public. Maintaining these personal relationships is often the key to success in this position.

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Economic Development Director Tasks

  • Develop and implement policies to expand reach and scope of department.
  • Create, report on, and adjust department budget, including setting goals.
  • Hire, mentor, and evaluate a team, setting goals, and defining projects.
  • Collaborate with many stakeholders and create positive relationships.

Economic Development Director Job Listings

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Survey takers who work as Economic Development Directors typically report just a few professional skills. Most notably, facility with New Business Development and Project Management are correlated to pay that is significantly above average, leading to increases of 29 percent and 9 percent, respectively. Oral / Verbal Communication, on the other hand, is typically associated with much lower pay.

Pay by Experience Level for Economic Development Director

Median of all compensation (including tips, bonus, and overtime) by years of experience.


In general, experience and pay appear to be strongly linked; those with more experience usually bring in higher incomes. The average beginner in this position makes around $55K, but folks who have been around for five to 10 years see a markedly higher median salary of $66K. On average, Economic Development Directors make $76K following one to two decades on the job. Veterans who have surpassed the 20-year mark may make only slightly more than those who are navigating the mid-career stage; the more senior group reports median earnings of around $85K.

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Experience Affects Economic Development Director Salaries

Late-Career
up arrow 26%

Experienced
up arrow 13%

National Average
$68,000

Mid-Career
up arrow 2%

Entry-Level
up arrow 19%

Skills That Affect Economic Development Director Salaries

New Business Development
up arrow 29%

Project Management
up arrow 9%

National Average
$68,000

Business Development
up arrow 1%

Oral / Verbal Communication
up arrow 31%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 32 votes.

Gender

Female
52 %
Male
48 %

Years of Experience

Less than 1 year
2%
1-4 years
19%
5-9 years
27%
10-19 years
34%
20 years or more
17%

Common Health Benefits

medical benefits Medical: 88% dental benefits Dental: 69%
vision benefits Vision: 57% employee benefits None: 7%
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