Product Development Manager Salary

Product Development Managers in the United States take home approximately $76K annually on average. Overall cash earnings for Product Development Managers stretch from $48K on the lower end to $124K near the top, and the heftiest packages can encompass around $18K from bonuses and $14K from profit sharing. Career length is the biggest factor affecting pay for this group, followed by geography. The majority of workers are highly satisfied with their job. Medical benefits are awarded to nearly all, and a strong majority earn dental coverage. Men working as Product Development Managers who took the survey just slightly outnumber women at 58 percent. The figures in this rundown are based on the results of PayScale's salary questionnaire.
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$48,510 - $115,152
(Median)
$49K
$76K
$120K
MEDIAN: $76,380
10%
50%
90%

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$13.61 - $39.14
(Median)
$14
$20
$39
MEDIAN: $20
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
$48,510 - $115,152  
   
Bonus
$247.09 - $17,917  
Profit Sharing
$1,019 - $14,191  
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).
)
$47,907 - $123,729  
Country: United States | Currency: USD | Updated: 1 Apr 2015 | Individuals Reporting: 1,931
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
$13.61 - $39.14  
   
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
$247.09 - $17,917  
   
Commission
$0.00 - $29,799  
Profit Sharing
$1,019 - $14,191  
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).
)
$47,907 - $123,729  
Country: United States | Currency: USD | Updated: 1 Apr 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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For Product Development Managers, progressing to a VP of Product Development role may result in a significant raise. On average, a VP of Product Development can earn $151K annually. 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 $4K more on average.

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. Most people who know Project Management also know Microsoft Office and Microsoft Excel. Those proficient in Product Development are, more often than not, also skilled in 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 who reported more years of relevant experience also reported higher earnings. The median compensation for relatively untried workers is $65K; in the five-to-10 year group, it's higher at around $78K. Product Development Managers claiming one to two decades of experience make an estimated median 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 $102K.

Pay Difference by Location


For those looking to make money, Product Development Managers in Boston enjoy an exceptional pay rate, 25 percent above the national average. Product Development Managers can also look forward to large paychecks in cities like Seattle (+24 percent), Irvine (+14 percent), Austin (+12 percent), and Houston (+12 percent). Falling short of the national average by 9 percent, the area with the worst salaries is Los Angeles. New York and Dallas are a couple other places where companies are known to pay below the median — salaries are 6 percent lower and 5 percent lower, respectively.

Related Job Salaries

United States (change)

Experience Affects Product Development Manager Salaries



National Average
$79,000



Skills That Affect Product Development Manager Salaries


Product Development
up arrow 2%

Market Research
up arrow 2%

Project Management
0%

National Average
$79,000




up arrow 9%








Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 445 votes.

Gender

Female
42 %
Male
58 %

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: 65% employee benefits None: 7%