Product Development Manager Salary

Product Development Managers in the United States pull down an average of $76K annually. With bonuses occasionally running north of $19K, profit sharing proceeds sometimes surpassing $12K, and a few commissions as high as $30K, total income for Product Development Managers can range between $47K and $125K according to individual performance. 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. Most report receiving medical coverage from their employers and a strong majority collect dental insurance. Women are just slightly outnumbered, with male Product Development Managers making up 57 percent of survey respondents. This snapshot results from replies to PayScale's salary survey.
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$47,783 - $117,597
(Median)
$48K
$76K
$120K
MEDIAN: $76,342
10%
50%
90%

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$13.18 - $39.90
(Median)
$13
$20
$40
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
$47,783 - $117,597  
   
Bonus
$201.64 - $19,137  
Profit Sharing
$592 - $12,355  
Commission
$0.00 - $29,799  
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).
)
$46,848 - $125,375  
Country: United States | Currency: USD | Updated: 12 Jan 2016 | Individuals Reporting: 2,158
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
$13.18 - $39.90  
   
Overtime
$0.38 - $72.82  
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
$201.64 - $19,137  
   
Commission
$0.00 - $29,799  
Profit Sharing
$592 - $12,355  
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).
)
$46,848 - $125,375  
Country: United States | Currency: USD | Updated: 12 Jan 2016 | Individuals Reporting: 78
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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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Product Development Managers who advance into the role of a VP of Product Development are fairly uncommon. VPs of Product Development on average earn $151K per year. The most common next step for a Product Development Manager is to become a Product Development Director or a Marketing Product Development Manager. The former position pays an additional $41K per year on average, and the latter position pays $5K more per year.

Product Development Manager Job Listings

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Popular Skills for Product Development Manager


Product Development Managers seem to exploit a large range of skills on the job. Most notably, skills in Engineering Design, Market Research, Product Development, and Product Management are correlated to pay that is above average. Skills that pay less than market rate include Adobe Illustrator, Windows Operating System General Use, and Microsoft Word. It is often found that people who know Project Management are also skilled in Microsoft Office. Most people skilled in Product Development are similarly competent 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.


In general, experience and pay appear to be strongly linked; those with more experience usually bring in higher incomes. Folks with fewer than five years of experience take home $64K on average, and those who have worked for five to 10 years see a bigger median salary of $78K. People with 10 to 20 years of experience make an average of about $97K in this role. 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 $103K.

Pay Difference by Location

National Average: $78,780

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

For Product Development Managers, busy Boston offers a higher-than-average pay rate, 31 percent above the national average. Product Development Managers can also look forward to large paychecks in cities like Seattle (+17 percent), Atlanta (+13 percent), Houston (+8 percent), and Minneapolis (+6 percent). The smallest paychecks in the market, 11 percent south of the national average, can be found in Dallas. Employers in Los Angeles and Portland also lean toward paying below-median salaries (10 percent lower and 7 percent lower, respectively).

Product Development Manager Reviews

What is it like working as a Product Development Manager?

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.

Related Job Salaries

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Experience Affects Product Development Manager Salaries



National Average
$79,000



Skills That Affect Product Development Manager Salaries


Market Research
up arrow 2%

Product Development
up arrow 1%

Product Management
0%

National Average
$79,000

Project Management
up arrow 1%

People Management
up arrow 3%



up arrow 10%







Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 411 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
28%
20 years or more
13%

Common Health Benefits

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