Product Development Manager Salary

Pay for Product Development Managers in the United States sits in the ballpark of $78K annually. Overall cash earnings for Product Development Managers stretch from $47K on the lower end to $129K near the top, and the heftiest packages can encompass around $18K from bonuses and $15K from profit sharing. Geographic location is the biggest factor affecting pay for this group, followed by experience level. Most Product Development Managers like their work and job satisfaction is high. Men working as Product Development Managers who took the survey just slightly outnumber women at 52 percent. Medical benefits are awarded to most, and a strong majority earn dental coverage. The data for this synopsis comes from respondents who took the PayScale salary survey.
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$47,770 - $120,760
$48K
$78K
$120K
MEDIAN: $77,795
10%
50%
90%

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$14.61 - $43.63
$15
$21
$44
MEDIAN: $20.82
10%
50%
90%

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$0$129K
Salary $47,770 - $120,760
Bonus $916 - $18,498
Profit Sharing $290.87 - $14,899
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).
)
$47,291 - $129,453
  • Country: United States
  • Currency: USD
  • Updated: 11 Jul 2017
  • Individuals Reporting: 1,266
Hourly Data $0$63
Hourly Rate $14.61 - $43.63
Overtime $20.75 - $63.75
Annual Data $0$129K
Bonus $916 - $18,498
Commission $5,000
Profit Sharing $290.87 - $14,899
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).
)
$47,291 - $129,453
  • Country: United States
  • Currency: USD
  • Updated: 11 Jul 2017
  • Individuals Reporting: 53

Find Out Exactly What You Should Be Paid

United States (change)

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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

  • Collaborate with sales and marketing to develop new business.
  • Assist in scale up to commercialization.
  • Manage the product development project pipeline and assignment and prioritization of resources.

Common Career Paths for Product Development Manager


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Product Development Managers do not often transition into VP of Product Development roles. The role averages $152K per year. Typical career progression for a Product Development Manager involves becoming a Product Development Director or a Senior Product Manager, roles that pay $39K more and $44K more on average.

Product Development Manager Job Listings

Popular Skills for Product Development Manager


Survey participants wield an impressively varied skill set 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. Microsoft Excel and Sourcing also typically command lower compensation. It is often found that people who know Product Development are also skilled in Microsoft Excel and Microsoft Office.

Pay by Experience Level for Product Development Manager

Pay by Experience for a Product Development Manager has a positive trend. An entry-level Product Development Manager with less than 5 years of experience can expect to earn an average total compensation of $64,000 based on 523 salaries provided by anonymous users. Average total compensation includes tips, bonus, and overtime pay. A Product Development Manager with mid-career experience which includes employees with 5 to 10 years of experience can expect to earn an average total compensation of $81,000 based on 500 salaries. An experienced Product Development Manager which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of $100,000 based on 442 salaries. A Product Development Manager with late-career experience which includes employees with greater than 20 years of experience can expect to earn an average total compensation of $110,000 based on 142 salaries.

Pay Difference by Location

National Average: $80,129

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

For Product Development Managers, busy Boston offers a higher-than-average pay rate, 25 percent above the national average. Product Development Managers can also look forward to large paychecks in cities like Atlanta (+24 percent), Chicago (+14 percent), San Francisco (+11 percent), and Rochester (+4 percent). Product Development Managers in Miami report much lower salaries than the rest of the country — 34 percent below the national average — proving that residence is a major factor in overall pay. Los Angeles and Minneapolis are a couple other places where companies are known to pay below the median — salaries are 14 percent lower and 4 percent lower, respectively.

Product Development Manager Reviews

Q: 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.

Product Development Manager in Chicago:
"Constant learning & creating products."
Pros: Developing rough ideas to fully marketable products.
Cons: You have to be an expert in many areas of the business.

Product Development Manager in Concord:
"Hmm..."
Pros: Working with interesting software.
Cons: Inconsistencies in practices and questionable ethics.

Related Job Salaries

Key Stats for Product Development Manager

Gender

Female
48 %
Male
52 %

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 221 votes.
Less than 1 year
2%
1-4 years
29%
5-9 years
29%
10-19 years
28%
20 years or more
12%
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Location:
Years in Fields/Career:
United States (change)

Experience Affects Product Development Manager Salaries

▲37%

▲24%

▲1%

National Average
$80,000

▼21%

Skills That Affect Product Development Manager Salaries




Product Management
▼0%

National Average
$80,000




▼7%




▼13%

▼14%



Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 221 votes.

Gender

Female
48 %
Male
52 %

Years of Experience

Less than 1 year
2%
1-4 years
29%
5-9 years
29%
10-19 years
28%
20 years or more
12%

Common Health Benefits

medical benefits
Medical: 90%
dental benefits
Dental: 80%
vision benefits
Vision: 67%
no benefits
None: 8%
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