Product Development Managers in the United States take home approximately $77K per year on average. Final cash compensation to Product Development Managers varies from around $46K to approximately $127K; choice pay grades include potential for bonuses and profit sharing as high as $18K and $14K, respectively. Residence and years of experience each impact pay for this group, with the former having the largest influence. Men make up a slight majority of Product Development Managers (54 percent) who responded to the survey. The majority of workers are highly satisfied with their job. A large number report receiving medical coverage from their employers and a fair number collect dental insurance. The numbers in this rundown were provided by PayScale's salary survey participants.
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$46,816 - $119,601
(Median)
$47K
$77K
$120K
MEDIAN: $77,280
10%
50%
90%

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$12.36 - $44.04
(Median)
$12
$21
$44
MEDIAN: $20
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
$46,816 - $119,601  
   
Bonus
$1,008 - $18,453  
Profit Sharing
$11.92 - $14,094  
Commission
$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).
)
$46,413 - $127,164  
Country: United States | Currency: USD | Updated: 28 Oct 2016 | Individuals Reporting: 1,339
National Hourly Rate 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$25$50$75
Hourly Rate
$12.36 - $44.04  
   
Overtime
$20.09 - $63.02  
National Annualized 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
Bonus
$1,008 - $18,453  
   
Commission
$5,000  
Profit Sharing
$11.92 - $14,094  
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).
)
$46,413 - $127,164  
Country: United States | Currency: USD | Updated: 28 Oct 2016 | Individuals Reporting: 52
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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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While Product Development Managers do not often become VPs of Product Development, the job pays $151K per year on average. Product Development Managers moving up in their careers tend to step into positions as Product Development Directors or Senior Product Managers. The median paychecks in those roles are $39K higher and $44K higher, respectively.

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Popular Skills for Product Development Manager


Survey results imply that Product Development Managers deploy a deep pool of skills on the job. Most notably, skills in Engineering Design, People Management, Project Management, and Product Management are correlated to pay that is above average. Those listing Adobe Illustrator as a skill should be prepared for drastically lower pay. Design and Microsoft Excel also typically command lower compensation. Those proficient in Product Development are, more often than not, also skilled in Microsoft Excel and Microsoft Office.

Pay by Experience Level for Product Development Manager

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


Experience seems to be a major factor in determining the incomes of Product Development Managers. Relatively untried employees who have less than five years' experience have a median salary of $64K. Those who have been around for five to 10 years can expect to take home more — $80K on average. Those with 10 to 20 years of experience under their belts can expect their paychecks to flourish around the six-figure median of $100K. Individuals who have achieved more than 20 years of experience don't seem to earn much more than people who have 10 to 20 years under their belts; the more senior group reports an average income of $106K.

Pay Difference by Location

National Average: $79,935

Larger city markers indicate a job is popular in that location.

Home to some of the best pay for Product Development Managers, Boston offers exceptional salaries, 31 percent above the national average. Product Development Managers will also find cushy salaries in Atlanta (+20 percent), San Francisco (+10 percent), Irvine (+9 percent), and Seattle (+5 percent). Location is a huge contributor to overall pay, with Product Development Managers in Miami earning a whopping 34 percent below the national average. Below-median salaries also turn up in Los Angeles and Minneapolis (15 percent lower and 8 percent lower, respectively).

Product Development Manager Reviews

What is it like working as a Product Development Manager?

Product Development Manager in Phoenix:
Pros: My job is just a laundry list of puzzles to solves. Fortunately, I do well in solving puzzles and enjoy it very much. Every day, something new is happening and it always keeps me on my feet. Managing on a program level allows me a highly accelerated method of learning how the company works on a large scale.
Cons: It is very stressful and there isn't a second to relax your brain. By the time the day is over, I am just mentally exhausted. This makes it difficult to push on with PMP certifications and pursuing my degree.

Product Development Manager in Burleson:
"Empowered decision making."
Pros: Managing a team that is over our core products is both challenging and exciting. I have product decision responsibilities with close to complete autonomy. This is a new position for our company. The product responsibilities were held by our owner. This means that we have a lot of influence over the direction of the company.
Cons: I feel like I'm underpaid. We're going through a transition where we are formalizing product development processes. This is challenging and resulting in tension between the product and IT teams.

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.

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Experience Affects Product Development Manager Salaries




National Average
$80,000


Skills That Affect Product Development Manager Salaries


Project Management
up arrow 1%

People Management
up arrow 1%

Product Management
0%

National Average
$80,000

Product Development
up arrow 2%

Market Research
up arrow 3%







up arrow 13%

up arrow 14%


Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 191 votes.

Gender

Female
46 %
Male
54 %

Years of Experience

Less than 1 year
3%
1-4 years
28%
5-9 years
29%
10-19 years
30%
20 years or more
11%

Common Health Benefits

medical benefits
Medical: 90%
dental benefits
Dental: 80%
medical benefits
Vision: 66%
dental benefits
None: 8%
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