Product Development Director Salary
The average pay for a Product Development Director is $103,539 per year. Experience has a moderate effect on salary for this job.
|Salary||$69,536 - $148,444|
|Bonus||$2,068 - $29,087|
|Profit Sharing||$1,237 - $38,783|
|Total Pay (||$69,782 - $160,518|
Job Description for Product Development Director
Product development directors oversee the development and delivery of products on behalf of their company. They are responsible for managing the idea generation, planning, design, development, and implementation of products. Product development directors support life cycle and launch activities for products developed within the organization, and they use a personal computer as one of their main tools to keep track of product development, communicate with partners, and modify reports. Additionally, product development directors ensure their team complies with safety procedures, create effective budget, and schedule project milestones.Read More...
The product development director's main duties also include presenting new ideas and product updates during management meetings, as well as developing detailed product specifications based on client needs and project requirements. They lead design reviews to suggest changes before product launch. In addition, product development directors ensure the product development process is effective, standardized, and continuously improved using team feedback.
A bachelor's degree in a related field is generally required for this position, as well as relevant previous experience. Industry and leadership certifications may be beneficial. Product development directors need to be organized individuals that have strong multitasking skills to participate in a variety of development projects. They also must possess excellent communication and leadership skills to guide development efforts and motivate professionals, work well in a team setting, and work well on their own with minimal supervision.
Product Development Director Tasks
- Review new product ideas, present them to management, and work with other departments to determine feasibility.
- Determine the cost of production.
- Conduct market research to determine consumer needs and identify competitors.
- Ensure products are produced according to design, quality, and price specifications.
- Supervise product development process, coordinating department objectives and schedules.
Popular Skills for Product Development Director
Pay by Experience Level for Product Development Director
Pay by Experience for a Product Development Director has a positive trend. An entry-level Product Development Director with less than 5 years of experience can expect to earn an average total compensation of $86,000 based on 39 salaries provided by anonymous users. Average total compensation includes tips, bonus, and overtime pay. A Product Development Director with mid-career experience which includes employees with 5 to 10 years of experience can expect to earn an average total compensation of $102,000 based on 82 salaries. An experienced Product Development Director which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of $122,000 based on 134 salaries. A Product Development Director with late-career experience which includes employees with greater than 20 years of experience can expect to earn an average total compensation of $143,000 based on 61 salaries.
Pay Difference by Location
Related Job Salaries
Key Stats for Product Development Director
Rated 5 out of 5
based on 31 votes.