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Product Development Manager Salary

The average Product Development Manager in the United States can expect to rake in roughly $76K annually. Final cash compensation to Product Development Managers varies from around $48K to approximately $123K; choice pay grades include potential for bonuses and profit sharing as high as $18K and $13K, respectively. Experience level is the biggest factor affecting pay for this group, followed by geography. Work is enjoyable for Product Development Managers, who typically claim high levels of job satisfaction. Medical benefits are awarded to nearly all, and a strong majority earn dental coverage. Women are just slightly outnumbered, with male Product Development Managers making up 58 percent of survey respondents. The information for this rundown comes from respondents who completed PayScale's salary questionnaire.
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$48,269 - $115,122
(Median)
$48K
$76K
$120K
MEDIAN: $76,452
10%
50%
90%

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$13.54 - $35.23
(Median)
$14
$20
$35
MEDIAN: $20
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
$48,269 - $115,122  
   
Bonus
$208.76 - $17,776  
Profit Sharing
$980 - $12,525  
Commission
$0.00 - $15,000  
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).
)
$47,671 - $123,378  
Country: United States | Currency: USD | Updated: 2 May 2015 | Individuals Reporting: 1,956
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
$13.54 - $35.23  
   
Overtime
$0.00 - $70.96  
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
$208.76 - $17,776  
   
Commission
$0.00 - $15,000  
Profit Sharing
$980 - $12,525  
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).
)
$47,671 - $123,378  
Country: United States | Currency: USD | Updated: 2 May 2015 | Individuals Reporting: 66

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United States (change)


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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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For Product Development Managers, progressing to a VP of Product Development role may result in a significant raise. On average, a VP of Product Development can earn $151K annually. Product Development Directors or Marketing Product Development Managers are common next-step roles for Product Development Managers moving up in their careers; annual pay for Product Development Directors is $41K higher on average, and it's $5K higher for Marketing Product Development Managers.

Product Development Manager Job Listings

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Popular Skills for Product Development Manager


Survey participants wield an impressively varied skill set on the job. Most notably, skills in Engineering Design, Market Research, Product Development, and Project Management are correlated to pay that is above average. Those listing Adobe Photoshop as a skill should be prepared for drastically lower pay. Adobe Illustrator and Windows Operating System General Use also typically command lower compensation. Most people familiar with Project Management also know Microsoft Office and Microsoft Excel. Most people familiar with 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.


Product Development Managers with a rich background of experience are typically rewarded with larger paychecks. Salaries for inexperienced workers average out to $78K, and those with five to 10 years' experience earn a higher median of $65K. Product Development Managers see a median salary of $96K after reaching one to two decades on the job. 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 $101K on average.

Pay Difference by Location


For Product Development Managers, Boston provides a pay rate that is 24 percent greater than the national average. Product Development Managers can also look forward to large paychecks in cities like Seattle (+24 percent), Houston (+12 percent), San Diego (+9 percent), and Minneapolis (+9 percent). Those in the field find the lowest salaries in Los Angeles, 11 percent below the national average. Below-median salaries also turn up in Salt Lake City and Philadelphia (10 percent lower and 6 percent lower, 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

United States (change)

Experience Affects Product Development Manager Salaries



National Average
$79,000



Skills That Affect Product Development Manager Salaries


Market Research
up arrow 3%

Product Development
up arrow 2%

Project Management
0%

National Average
$79,000

Product Marketing
up arrow 4%


up arrow 9%









Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 434 votes.

Gender

Female
42 %
Male
58 %

Years of Experience

Less than 1 year
2%
1-4 years
26%
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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