Economic Development Director Salary

Economic Development Directors in the United States are often veterans in their line of work, with approximately half bringing more than 10 years of experience to the table. Salaries slide in at $67K annually on average but can range from $45K to $104K per year. Women make up a slight majority of Economic Development Directors (51 percent) survey respondents. For the most part, Economic Development Directors enjoy their work and report high levels of job satisfaction. Most enjoy medical while a majority get dental coverage. Vision coverage is also available to the greater part.

$44,190 - $102,140
(Median)
$44K
$67K
$100K
MEDIAN: $66,572
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
$44,190 - $102,140  
   
Bonus
$0.00 - $6,104  
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).
)
$45,204 - $104,488  
Country: United States | Currency: USD | Updated: 2 Jul 2015 | Individuals Reporting: 200
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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.

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Economic Development Directors who responded to the survey indicated only a few skills that they use on the job. Most notably, skills in New Business Development, Project Management, Business Development, and Oral / Verbal Communication are correlated to pay that is above average. Oral / Verbal Communication and Business Development as skills, however, tend to be associated with significantly smaller paychecks.

Pay by Experience Level for Economic Development Director

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


For many Economic Development Directors, more experience generally translates to higher pay. Salaries for the relatively untried average out to around $56K, but survey participants with five to 10 years of experience earn a significantly higher median of $66K. The average pay reported by folks with 10 to 20 years of experience is around $76K. More than 20 years of experience mean a somewhat bigger median paycheck of $84K, but it's not much more than what less experienced people make.

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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 17%

Skills That Affect Economic Development Director Salaries

New Business Development
up arrow 15%

Project Management
up arrow 11%

National Average
$67,000

Business Development
up arrow 3%

Oral / Verbal Communication
up arrow 30%

Job Satisfaction

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

Gender

Female
51 %
Male
49 %

Years of Experience

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

Common Health Benefits

medical benefits Medical: 87% dental benefits Dental: 69%
vision benefits Vision: 57% employee benefits None: 8%
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