Product Management Director Salary
Product Management Directors in the United States can look forward to a sizeable six-figure salary — around $136K per year on average. With bonuses occasionally running north of $30K, profit sharing proceeds sometimes surpassing $20K, and a few commissions as high as $58K, total income for Product Management Directors can range between $101K and $187K according to individual performance. Location and years of experience each impact pay for this group, with the former having the largest influence. Most workers in this position report high levels of job satisfaction. Almost all enjoy medical and dental coverage in this occupation, and a large number get vision benefits. Generally, women make up less than a third of all Product Management Directors who answered the questionnnaire. The data for this synopsis comes from respondents who took the PayScale salary survey.
Job Description for Product Management Director
A product management director typically oversees a product's development from concept or the planning phase until completion, focusing on the quality of the finished product and the efficiency of the production process. A product management director may be assigned to oversee existing products in their improvement process or maintenance of their existing standards.Read More...
These managers are also leaders and must be comfortable in a leadership role. Typical fields a product management director can find employment are technology and production.
Typically, the role requires a bachelor's degree in business, marketing, or an area related to the product being produced or the field in which it is produced. Five to 10 years of experience is also typically required, and many organizations require a master's degree. An ability to stay on budget and a strict timeline essential. Strong communication skills including oral and verbal are necessary, as are strong analytical skills. A strong technological background is helpful and proficient computer literacy is essential.
Product Management Director Tasks
- Oversee the creation of strategic plans to ensure the sale and profitability of new products, lines, and services.
- This includes budgets, expenditures, research and development appropriations, returns-on-investment and profit-loss projections.
- Evaluate financial aspects of product development.
Common Career Paths for Product Management Director
Many Product Management Directors move into a VP of Product Management role, and folks who currently hold that position report a much higher median income of $179K per year. A Senior Product Management Director or a Marketing VP is a typical transition from a Product Management Director role.
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Popular Skills for Product Management Director
Survey takers working as Product Management Directors report using a large range of professional skills. Most notably, skills in Team Leadership, Product Management, Business Strategy, and Strategy are correlated to pay that is above average. Skills that seem to negatively impact pay include Project Management, Product Marketing, and Business Analysis. Most people familiar with Business Strategy also know Leadership and Product Marketing.
Pay by Experience Level for Product Management Director
Median of all compensation (including tips, bonus, and overtime) by years of experience.
For Product Management Directors, more experience in the field does not usually mean bigger paychecks. Even the relatively untried can take home bulky six-figure salaries; employees who have worked for fewer than five years report earning $119K on average. After working for 10 to 20 years, Product Management Directors make a median salary of $155K. Individuals who report more than two decades of experience seem to make only slightly more than folks in the 10-to-20 year range; the more senior group sees median earnings in the comparatively modest ballpark of $160K.
Pay Difference by Location
Palo Alto, San Jose, and Mountain View — each tucked away in California — boast salaries above the national rate for Product Management Directors, making this state top of the list for those looking to make even more money in this profession. Boulder ranks last in the field for pay, reporting salaries 12 percent below the national average. Denver and Atlanta are a couple other places where companies are known to pay below the median — salaries are 7 percent lower and 5 percent lower, respectively.
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Key Stats for Product Management Director
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