Product Development Manager Salary

Median pay for Product Development Managers in the United States is around $76K per year. Total cash compensation to Product Development Managers approaches anywhere from $47K on the lower end to $123K on the higher end; in exceptional cases, this can include more than $18K from bonuses and upwards of $12K from profit sharing. Residence and experience level each impact pay for this group, with the former having the largest influence. Work is enjoyable for Product Development Managers, who typically claim high levels of job satisfaction. A large number report receiving medical coverage from their employers and a fair number collect dental insurance. Male Product Development Managers are just a bit more common among those who completed the questionnaire than females ones, with male workers composing 57 percent of the field. The data for this synopsis comes from respondents who took the PayScale salary survey.
Read More
$48,240 - $114,836

Add this chart to your site: 640px    300px

$12.80 - $35.08

Add this chart to your site: 640px    300px

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
$48,240 - $114,836  
   
Bonus
$243.11 - $17,911  
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).
)
$47,389 - $123,065  
Country: United States | Currency: USD | Updated: 18 Jul 2015 | Individuals Reporting: 2,007
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
$12.80 - $35.08  
   
Overtime
$0.00 - $71.47  
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
$243.11 - $17,911  
   
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).
)
$47,389 - $123,065  
Country: United States | Currency: USD | Updated: 18 Jul 2015 | Individuals Reporting: 68
United States (change)

Find Out Exactly What You Should Be Paid

United States (change)


Comp Managers: Start Here »

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


Add this chart to your site:   640px 640px    300px 300px


Product Development Managers sometimes assume positions such as VPs of Product Development. That role pays $151K per year on average. 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

Search for more jobs:

Popular Skills for Product Development Manager


Survey takers working as Product Development Managers report using a large range of professional skills. Most notably, skills in Engineering Design, Product Management, Product Development, and Market Research 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 and Microsoft Excel. Those familiar with Product Development also tend to 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 lot of experience tend to enjoy higher earnings. 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 — $78K on average. Product Development Managers see a median salary of $95K after reaching one to two decades on the job. Product Development Managers who have stuck around for more than two decades see earnings that are only slightly higher than those of folks who have worked for 10 to 20 years; the more senior group makes around $102K on average.

Pay Difference by Location


For Product Development Managers, busy Boston offers a higher-than-average pay rate, 32 percent above the national average. Product Development Managers will also find cushy salaries in Seattle (+19 percent), Austin (+13 percent), Atlanta (+8 percent), and Minneapolis (+7 percent). Dallas is home to the smallest salaries in the field, lagging the national average by 16 percent. A couple other locations with smaller-than-average paychecks include Portland (15 percent lower) and Los Angeles (9 percent lower).

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)

Find Out Exactly What You Should Be Paid

United States (change)


Comp Managers: Start Here »

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 2%


up arrow 8%








Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 402 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%
ADVERTISEMENT