Economic Development Director Salary

The average Economic Development Director in the United States earns approximately $67K per year. A large number report receiving medical coverage from their employers and the larger part collect dental insurance. Women Economic Development Directors who took the survey just slightly outnumber men. The majority of workers are highly satisfied with their job. Participants in PayScale's salary questionnaire provided the particulars of this report.

$45,260 - $108,693
(Median)
$45K
$67K
$110K
MEDIAN: $66,999
10%
50%
90%

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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.
)
$0$50K$100K$150K
Salary
$45,260 - $108,693  
   
Bonus
$0.00 - $6,183  
Profit Sharing
$5,000  
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).
)
$45,670 - $112,113  
Country: United States | Currency: USD | Updated: 12 Jan 2016 | Individuals Reporting: 218
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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 results show that Economic Development Directors typically report just a few professional skills. Most notably, facility with New Business Development, Business Development, and Project Management are correlated to pay that is significantly above average, leading to increases of 33 percent, 6 percent, and 5 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. Workers with less than five years' experience earn around $56K on average, and those who have five to 10 years under their belts see a higher median salary of $66K. Economic Development Directors who work for 10 to 20 years in their occupation tend to earn about $81K. Folks who have racked up more than 20 years in the field report incomes that aren't that much higher than less experienced individuals' earnings; the veterans make just $86K on average.

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Experience Affects Economic Development Director Salaries

Late-Career
up arrow 28%

Experienced
up arrow 19%

National Average
$68,000

Mid-Career
up arrow 2%

Entry-Level
up arrow 18%

Skills That Affect Economic Development Director Salaries

New Business Development
up arrow 33%


Project Management
up arrow 5%

National Average
$68,000

Oral / Verbal Communication
up arrow 31%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 25 votes.

Gender

Female
51 %
Male
49 %

Years of Experience

Less than 1 year
2%
1-4 years
21%
5-9 years
29%
10-19 years
33%
20 years or more
15%

Common Health Benefits

medical benefits
Medical: 87%
dental benefits
Dental: 65%
medical benefits
Vision: 57%
dental benefits
None: 9%
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