Product Management Director Salary
Product Management Directors receive generous compensation in the United States — earning an average of $136K per year, their standard salaries shoot well into the six-figure range. Cash earnings for Product Management Directors — including $30K in bonuses and $20K in profit sharing proceeds near the top of the pay scale — generally stretch from $101K to $187K depending on individual performance. Geography is the biggest factor affecting pay for this group, followed by experience level. Medical and dental benefits are awarded to nearly all, and most earn vision coverage. Work is enjoyable for Product Management Directors, who typically claim high levels of job satisfaction. Making up 71 percent of those who took the survey, male Product Management Directors greatly outnumber their female counterparts. The figures in this rundown are based on the results of PayScale's salary questionnaire.
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
Product Management Directors might see a strong upturn in salary after transitioning into upper-level roles such as VP of Product Management, a seemingly popular career choice. People currently working in the latter position report a noticeably higher median income of $179K per year. Becoming a Senior Product Management Director or a Marketing VP is a common transition from a Product Management Director role.
Product Management Director Job Listings
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Popular Skills for Product Management Director
Product Management Directors report using a large range of skills on the job. Most notably, skills in Strategy, Product Management, Team Leadership, and Business 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 who know 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. Salaries can reach six figures almost right off the bat; beginning workers who have less than five years' experience bring in a median of $118K per year. People with 10 to 20 years of experience make an average of about $155K in this role. Product Management Directors with more than 20 years of experience report incomes that are only modestly higher; the median for these old hands hovers around $159K.
Pay Difference by Location
For Product Management Directors, San Jose provides a pay rate that is 27 percent greater than the national average. Product Management Directors can also look forward to large paychecks in cities like Mountain View (+21 percent), Santa Clara (+18 percent), San Francisco (+10 percent), and Los Angeles (+3 percent). The lowest-paying market is Boulder, which sits 12 percent below the national average. Not at the bottom but still paying below the median are employers in Atlanta and Denver (10 percent lower and 8 percent lower, respectively).