Economic Development Director Salary

With close to one-half of Economic Development Directors in the United States reporting more than 10 years of experience, the field is heavily weighted toward experienced professionals. Average pay for Economic Development Directors is $66K per year and can range from $45K on the lower end to $105K per year near the higher end. Most workers in this position report high levels of job satisfaction. Men are slightly outnumbered by their female counterparts who answered the questionnaire, who make up a slight majority at 52 percent. A large number report receiving medical coverage from their employers and a majority collect dental insurance. This report is based on responses to the PayScale salary survey.

$44,091 - $102,278
(Median)
$44K
$66K
$100K
MEDIAN: $66,165
10%
50%
90%

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National Salary Data (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$0$50K$100K$150K
Salary
$44,091 - $102,278  
   
Bonus
$0.00 - $6,128  
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).
)
$45,116 - $104,834  
Country: United States | Currency: USD | Updated: 20 Jun 2015 | Individuals Reporting: 198
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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 report a focused set of job skills. Most notably, skills in New Business Development, Project Management, Business Development, and Oral / Verbal Communication are correlated to pay that is above average. Those listing Oral / Verbal Communication and Business Development as skills, on the other hand, should be prepared for drastically lower pay.

Pay by Experience Level for Economic Development Director

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


Experience is an important factor influencing the compensation of Economic Development Directors. Survey participants with less than five years' experience pocket $55K on average, but those with five to 10 years of experience enjoy a much bigger median of $66K. Economic Development Directors bring in $76K after working for 10 to 20 years. Economic Development Directors with more than 20 years of experience report incomes that are only modestly higher; the median for these old hands hovers around $84K.

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Experience Affects Economic Development Director Salaries

Late-Career
up arrow 26%

Experienced
up arrow 13%

National Average
$67,000

Mid-Career
up arrow 2%

Entry-Level
up arrow 18%

Skills That Affect Economic Development Director Salaries

New Business Development
up arrow 15%

Project Management
up arrow 9%

National Average
$67,000

Business Development
up arrow 6%

Oral / Verbal Communication
up arrow 31%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 33 votes.

Gender

Female
52 %
Male
48 %

Years of Experience

Less than 1 year
2%
1-4 years
20%
5-9 years
27%
10-19 years
35%
20 years or more
17%

Common Health Benefits

medical benefits Medical: 87% dental benefits Dental: 68%
vision benefits Vision: 57% employee benefits None: 8%
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