Product Development Manager Salary

For Product Development Managers, annual average wages total $76K per year. Including potential for bonuses and profit sharing — peaking near $18K and $12K, respectively — total cash payment to Product Development Managers can bottom out near $48K or peak near $123K depending on individual performance. Career duration and the particular city each impact pay for this group, with the former having the largest influence. For the most part, Product Development Managers enjoy their work and report high levels of job satisfaction. Women are just slightly outnumbered, with male Product Development Managers making up 57 percent of survey respondents. A large number report receiving medical coverage from their employers and a fair number collect dental insurance. Respondents to the PayScale salary survey provided the data for this report.
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$48,354 - $115,033
(Median)
$48K
$76K
$120K
MEDIAN: $76,124
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
$48,354 - $115,033  
   
Bonus
$244.38 - $18,403  
Profit Sharing
$985 - $12,301  
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).
)
$47,615 - $123,147  
Country: United States | Currency: USD | Updated: 20 Jun 2015 | Individuals Reporting: 1,985
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
$244.38 - $18,403  
   
Commission
$0.00 - $15,000  
Profit Sharing
$985 - $12,301  
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).
)
$47,615 - $123,147  
Country: United States | Currency: USD | Updated: 20 Jun 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. Typical career progression for a Product Development Manager involves becoming a Product Development Director or a Marketing Product Development Manager, roles that pay $41K more and $5K more on average.

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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, Product Management, Market Research, and Product Development are correlated to pay that is above average. Those listing Adobe Illustrator as a skill should be prepared for drastically lower pay. Windows Operating System General Use and Microsoft Word also typically command lower compensation. Most people experienced in Product Development also know Microsoft Excel. Most people familiar with Project Management also know Microsoft Office and 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. The average inexperienced worker's salary is approximately $64K, and people with five to 10 years of experience bring in more at around $78K on average. For Product Development Managers, 10 to 20 years of experience on the job amounts to an average salary of $96K. 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 $101K.

Pay Difference by Location


Boston is home to an above-average pay rate for Product Development Managers, 30 percent higher than the national average. Product Development Managers will also find cushy salaries in Seattle (+23 percent), Atlanta (+8 percent), Houston (+7 percent), and San Diego (+6 percent). The smallest paychecks in the market, 15 percent south of the national average, can be found in Portland. A couple other locations with smaller-than-average paychecks include Dallas (15 percent lower) and Los Angeles (10 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.

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Experience Affects Product Development Manager Salaries



National Average
$79,000



Skills That Affect Product Development Manager Salaries


Product Management
up arrow 3%

Market Research
up arrow 2%

Product Development
up arrow 1%

Project Management
0%

National Average
$79,000

People Management
up arrow 4%


up arrow 9%








Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 413 votes.

Gender

Female
43 %
Male
57 %

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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