Sr. Research & Development Manager Salary
Senior Research & Development Managers in the United States can expect wages of $119K per year on average. Final cash compensation to Senior Research & Development Managers varies from around $85K to approximately $179K; choice pay grades include potential for bonuses and profit sharing as high as $24K and $30K, respectively. Residence and career duration each impact pay for this group, with the former having the largest influence. Making up 78 percent of those who took the survey, male Senior Research & Development Managers greatly outnumber their female counterparts. Most Senior Research & Development Managers are fairly content with their jobs, and work satisfaction falls in line with the national average. Almost all enjoy medical while nearly all get dental coverage. Vision coverage is also available to a large number. Respondents to the PayScale salary survey provided the data for this report.
Job Description for Sr. Research & Development Manager
A senior research and development (R&D) manager is a high-level executive who oversees the development of new products or software. The manager must be intimately familiar with the company’s branding and strategy, and then work with R&D staff to improve existing products and introduce new ones that conform to the company’s brand image.Read More...
The R&D manager oversees all management and scientific or engineering work under the "research and development" umbrella. This usually entails close reading of reports and testing results, as well as the ability to make modifications to projects as required. The senior manager uses a variety of analytical tools to determine the direction for future project development. He or she implements development schedules and holds managers and engineers accountable for meeting deadlines in the development process. The senior manager also must be able to judge when to postpone or cancel work on a project based on expected expenses and profitability. The senior manager creates detailed progress reports for senior board members to present to shareholders in the company.
To work as a senior research and development manager, a person must have a strong scientific or engineering background in the hiring company's area of specialty; most persons considered for this employment typically have post-baccalaureate education in a management discipline as well. The work typically takes place in an office environment during regular business hours.
Sr. Research & Development Manager Tasks
- Assess market and science current states to identify target research areas with unmet needs.
- Manage budget, expenses, and forecasts for department, including materials analysis.
- Negotiate with universities, government, companies, and consultants to obtain research or feasibility information.
- Formulate research plans including estimates, necessary equipment, and monitoring plans.
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Popular Skills for Sr. Research & Development Manager
Survey results imply that Senior Research & Development Managers put a diverse skill set to use. Most notably, skills in Software Development, People Management, Product Development, and Research Analysis are correlated to pay that is above average, with boosts between 6 percent and 11 percent. Most people who know People Management also know Product Development.
Pay by Experience Level for Sr. Research & Development Manager
Median of all compensation (including tips, bonus, and overtime) by years of experience.
Although employees with less than five years' experience earn around $94K on average, the five-to-10 year group has a much higher, six-figure median of $108K. Senior Research & Development Managers bring in $139K after working for 10 to 20 years. Folks who claim more than 20 years of relevant experience actually report a comparatively lower median income of $135K.
Pay Difference by Location
With a pay rate for Senior Research & Development Managers that is 17 percent greater than the national average, Minneapolis offers a comfortable salary for those in this profession. The lowest-paying market is New York, which sits 29 percent below the national average, proving that location is a significant contributor to overall pay. Employers also pay below the national average in Boston (24 percent lower) and San Jose (2 percent lower).
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