Product Development Manager Salary

For Product Development Managers, annual average wages total $76K per year. Final cash compensation to Product Development Managers varies from around $47K to approximately $125K; choice pay grades include potential for bonuses and profit sharing as high as $19K and $12K, respectively. Career length and the particular city each impact pay for this group, with the former having the largest influence. Men make up a slight majority of Product Development Managers (57 percent) who responded to the survey. For the most part, Product Development Managers enjoy their work and report high levels of job satisfaction. A large number enjoy medical while a fair number get dental coverage. Vision coverage is also available to the greater part. This report is based on responses to the PayScale salary survey.
Read More
$47,783 - $117,597
(Median)
$48K
$76K
$120K
MEDIAN: $76,342
10%
50%
90%

Add this chart to your site: 640px    300px

$13.18 - $39.90
(Median)
$13
$20
$40
MEDIAN: $20
10%
50%
90%

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
$47,783 - $117,597  
   
Bonus
$201.64 - $19,137  
Profit Sharing
$592 - $12,355  
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).
)
$46,848 - $125,375  
Country: United States | Currency: USD | Updated: 12 Jan 2016 | Individuals Reporting: 2,158
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
$13.18 - $39.90  
   
Overtime
$0.38 - $72.82  
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
$201.64 - $19,137  
   
Commission
$0.00 - $29,799  
Profit Sharing
$592 - $12,355  
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).
)
$46,848 - $125,375  
Country: United States | Currency: USD | Updated: 12 Jan 2016 | Individuals Reporting: 78
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


There are some Product Development Managers — though it's uncommon — that transition into VPs of Product Development, where earnings are an average $151K annually. The most common next step for a Product Development Manager is to become a Product Development Director or a Marketing Product Development Manager. The former position pays an additional $41K per year on average, and the latter position pays $5K more per year.

Product Development Manager Job Listings

Search for more jobs:

Popular Skills for Product Development Manager


Survey respondents exploit a significant toolbox of skills in their work. Most notably, skills in Engineering Design, Market Research, Product Development, and Product Management are correlated to pay that is above average. Skills that are correlated to lower pay, on the other hand, include Adobe Illustrator, Windows Operating System General Use, and Microsoft Word. Most people skilled in Project Management are similarly competent in Microsoft Office. 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

Median of all compensation (including tips, bonus, and overtime) by years of experience.


In general, experience and pay appear to be strongly linked; those with more experience usually bring in higher incomes. Workers with less than five years' experience earn around $64K on average, and those who have five to 10 years under their belts see a higher median salary of $78K. Product Development Managers who work for 10 to 20 years in their occupation tend to earn about $97K. More than 20 years of experience mean a somewhat bigger median paycheck of $103K, but it's not much more than what less experienced people make.

Pay Difference by Location

National Average: $78,780

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

With a pay rate for Product Development Managers that is 31 percent greater than the national average, Boston offers a comfortable salary for those in this profession. Product Development Managers will also find cushy salaries in Seattle (+17 percent), Atlanta (+13 percent), Houston (+8 percent), and Minneapolis (+6 percent). With compensation 11 percent below the national average, Dallas is not known for hefty paychecks and actually represents the lowest-paying market. Not at the bottom but still paying below the median are employers in Los Angeles and Portland (10 percent lower and 7 percent lower, respectively).

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


Market Research
up arrow 2%

Product Development
up arrow 1%

Product Management
0%

National Average
$79,000

Project Management
up arrow 1%

People Management
up arrow 3%



up arrow 10%







Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 411 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
28%
20 years or more
13%

Common Health Benefits

medical benefits
Medical: 90%
dental benefits
Dental: 78%
medical benefits
Vision: 64%
dental benefits
None: 8%
ADVERTISEMENT