Product Development Manager Salary

Product Development Managers in the United States can expect to earn an average of $76K per year. Overall compensation packages to Product Development Managers range from $48K on the low end to $123K on the high end; this includes bonuses that peak near $18K and profit sharing that approaches $12K, with some high rollers snagging commissions as high as $20K. Career length and the particular city each impact pay for this group, with the former having the largest influence. Job satisfaction is reported as high by the vast majority of workers. A large number report receiving medical coverage from their employers and a fair number collect dental insurance. Women are just slightly outnumbered, with male Product Development Managers making up 57 percent of survey respondents. This overview is based on answers to PayScale's salary questionnaire.
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$48,322 - $115,077
(Median)
$48K
$76K
$120K
MEDIAN: $76,013
10%
50%
90%

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$12.80 - $35.08
(Median)
$13
$20
$35
MEDIAN: $19.00
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
$48,322 - $115,077  
   
Bonus
$245.79 - $18,293  
Profit Sharing
$988 - $12,411  
Commission
$0.00 - $20,273  
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).
)
$47,570 - $123,345  
Country: United States | Currency: USD | Updated: 2 Jul 2015 | Individuals Reporting: 1,999
National Hourly Rate 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$25$50$75
Hourly Rate
$12.80 - $35.08  
   
Overtime
$0.00 - $71.47  
National Annualized 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
Bonus
$245.79 - $18,293  
   
Commission
$0.00 - $20,273  
Profit Sharing
$988 - $12,411  
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).
)
$47,570 - $123,345  
Country: United States | Currency: USD | Updated: 2 Jul 2015 | Individuals Reporting: 68
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Job Description for Product Development Manager

Product development managers are in charge of the analysis and application of products to the general consumer market. Product development managers typically are host to an assortment of creative work-flows, thought processes and application systems. They are also expected to be capable of market analysis at high levels and to demonstrate mastery of critical thought processes. Product development managers must identify the need for a product on the current or near future market and also identify an outline in which the product can be created and delivered to the general populace; however, the specifics of these systems is not their concern. Product development managers are expected to be very flexible in their availability and willing to devote long hours of deliberation toward meeting the needs presented by consumers with the products in development. Product development managers are also expected to have adequate interpersonal skills as they will be working with other employees in virtually all situations. They are expected to have an understanding of current and past marketing trends as well as the economic insight to reasonably predict new ones. Product managers are also expected to have a very intimate understanding of promotional processes and advertising as well as their effect on the general public. Product managers are expected to also understand public relations and their relationship to forthcoming products as well as the current areas of interest in the rising market (e.g. environmentally friendly products). Product managers must have proficiency in Microsoft Office and understanding of information facilitation via these channels.


Product Development Manager Tasks

  • Manage the product development project pipeline and assignment and prioritization of resources.
  • Assist in scale up to commercialization.
  • Collaborate with sales and marketing to develop new business.

Common Career Paths for Product Development Manager


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As Product Development Managers transition into upper-level roles such as VP of Product Development, they may see a strong upturn in salary. VPs of Product Development earn $151K on average per year. Product Development Managers moving up in their careers tend to step into positions as Product Development Directors or Marketing Product Development Managers. The median paychecks in those roles are $41K higher and $5K higher, respectively.

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Popular Skills for Product Development Manager


Product Development Managers seem to wield many skills on the job. Most notably, skills in Engineering Design, Product Management, Product Development, and Market Research are correlated to pay that is above average. Skills that seem to negatively impact pay include Adobe Illustrator, Windows Operating System General Use, and Microsoft Word. People who know Project Management usually also know Microsoft Office and Microsoft Excel. Most people experienced in Product Development also know Microsoft Excel.

Pay by Experience Level for Product Development Manager

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


For many Product Development Managers, experience and pay levels seem to be correlated; more years in the business generally lead to more money. Workers with less than five years' experience earn around $64K on average, and those who have five to 10 years under their belts see a higher median salary of $78K. Product Development Managers who work for 10 to 20 years in their occupation tend to earn about $96K. More than 20 years of experience mean a somewhat bigger median paycheck of $102K, but it's not much more than what less experienced people make.

Pay Difference by Location


Product Development Managers will find that Boston offers an impressive pay rate, one which exceeds the national average by 31 percent. Product Development Managers will also find cushy salaries in Seattle (+21 percent), Atlanta (+7 percent), Houston (+7 percent), and Minneapolis (+7 percent). Portland is the lowest-paying area, 15 percent south of the national average. Workers in Dallas and Los Angeles earn salaries that trail the national average for those in this profession (15 percent less and 10 percent less, respectively).

Product Development Manager Reviews

What is it like working as a Product Development Manager?

Product Development Manager in San Francisco:
"Every day I work with a team that wants to change the world."
Pros: I'm doing what I love. I get talk with people about their dreams and then help make them a reality. I get to relate with our customers and show them that we are cut from the same cloth, and that I am on their side and I want to make the tools they need.
Cons: Giving all-hands presentations, public speaking is a nightmare.

Related Job Salaries

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Experience Affects Product Development Manager Salaries



National Average
$79,000



Skills That Affect Product Development Manager Salaries


Product Development
up arrow 2%

Product Management
up arrow 2%

Market Research
up arrow 1%

Project Management
0%

National Average
$79,000

People Management
up arrow 3%


up arrow 9%








Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 408 votes.

Gender

Female
43 %
Male
57 %

Years of Experience

Less than 1 year
2%
1-4 years
27%
5-9 years
30%
10-19 years
29%
20 years or more
13%

Common Health Benefits

medical benefits Medical: 90% dental benefits Dental: 78%
vision benefits Vision: 64% employee benefits None: 8%
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