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Product Development Manager Salary

Earnings for Product Development Managers in the United States come in at around $76K per year on average. 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 $48K and $124K according to individual performance. Experience level and the particular city each impact pay for this group, with the former having the largest influence. Job satisfaction is reported as high by the vast majority of workers. Men working as Product Development Managers who took the survey just slightly outnumber women at 59 percent. Medical benefits are awarded to almost all, and a fair number earn dental coverage. This report is based on responses to the PayScale salary survey.
$48,558 - $114,668
(Median)
49K
60K
76K
96K
110K
MEDIAN: $76,325
10%
25%
50%
75%
90%

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$13.93 - $39.50
(Median)
14
20
26
40
MEDIAN: $20
10%
50%
75%
90%

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Show Annual Salary Show Hourly Rate

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
$48,558 - $114,668  
   
Bonus
$297.99 - $18,803  
Profit Sharing
$1,019 - $12,320  
Commission
$0.00 - $29,590  
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).
)
$48,265 - $123,579  
Country: United States | Currency: USD | Updated: 11 Dec 2014 | Individuals Reporting: 1,917
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
$13.93 - $39.50  
   
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
$297.99 - $18,803  
   
Commission
$0.00 - $29,590  
Profit Sharing
$1,019 - $12,320  
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).
)
$48,265 - $123,579  
Country: United States | Currency: USD | Updated: 11 Dec 2014 | Individuals Reporting: 64
United States (change)

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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Compensation may increase greatly for Product Development Managers who advance to upper-end positions like VP of Product Development. Median pay for VPs of Product Development is $151K per year. Product Development Managers moving up in their careers tend to step into positions as Product Development Directors or Marketing Product Development Managers. The median paychecks in those roles are $41K higher and $4K higher, respectively.

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, Product Development, Market Research, 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. Those familiar with Product Development also tend to know 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. Although individuals who have less than five years' experience earn $64K on average, people with five to 10 years benefit from a notably larger average of $79K. Product Development Managers who work for 10 to 20 years in their occupation tend to earn about $95K. 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 $102K on average.

Pay Difference by Location


Boston is home to an above-average pay rate for Product Development Managers, 24 percent higher than the national average. Product Development Managers will also find cushy salaries in Seattle (+21 percent), Houston (+14 percent), Rochester (+13 percent), and Austin (+12 percent). Los Angeles is home to the smallest salaries in the field, lagging the national average by 10 percent. Two other places where employers offer below-median salaries are Philadelphia (9 percent less) and New York (5 percent less).

Related Job Salaries

Experience Affects Product Development Manager Salaries



National Average
$79,000



Skills That Affect Product Development Manager Salaries


Product Development
up arrow 1%

Project Management
0%

Market Research
0%

National Average
$79,000

Product Marketing
up arrow 4%


up arrow 7%









Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 488 votes.

Gender

Female
41 %
Male
59 %

Years of Experience

Less than 1 year
2%
1-4 years
26%
5-9 years
31%
10-19 years
29%
20 years or more
13%

Common Health Benefits

medical benefits Medical: 91% dental benefits Dental: 79%
vision benefits Vision: 64% employee benefits None: 7%