Sr. Research & Development Manager Salary
Senior Research & Development Managers in the United States pull down an average of $120K per year. Final cash compensation to Senior Research & Development Managers varies from around $87K to approximately $185K; choice pay grades include potential for bonuses and profit sharing as high as $28K and $25K, respectively. Location and tenure each impact pay for this group, with the former having the largest influence. Work is reasonably fulfilling for most Senior Research & Development Managers — the majority report average levels of job satisfaction. Almost all enjoy medical while nearly all get dental coverage. Vision coverage is also available to a large number. The majority of Senior Research & Development Managers (65 percent) who took the survey are men. The figures in this rundown are based on the results of PayScale's salary questionnaire.
|Salary||$87,199 - $161,537|
|Bonus||$5,087 - $28,275|
|Profit Sharing||$-0.50 - $24,832|
|Total Pay (||$87,199 - $185,107|
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. (Copyright 2017 PayScale.com)
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.
Common Career Paths for Sr. Research & Development Manager
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Popular Skills for Sr. Research & Development Manager
Senior Research & Development Managers usually report a few specific skills. Most notably, skills in Software Development, People Management, Product Development, and Research Analysis are correlated to pay that is above average, with boosts between 7 percent and 12 percent. Most people who know People Management also know Product Development.
Pay by Experience Level for Sr. Research & Development Manager
Pay by Experience for a Sr. Research & Development Manager has a positive trend. An entry-level Sr. Research & Development Manager with less than 5 years of experience can expect to earn an average total compensation of $95,000 based on 9 salaries provided by anonymous users. Average total compensation includes tips, bonus, and overtime pay. A Sr. Research & Development Manager with mid-career experience which includes employees with 5 to 10 years of experience can expect to earn an average total compensation of $112,000 based on 17 salaries. An experienced Sr. Research & Development Manager which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of $150,000 based on 42 salaries. A Sr. Research & Development Manager with late-career experience which includes employees with greater than 20 years of experience can expect to earn an average total compensation of $138,000 based on 22 salaries.
Pay Difference by Location
For Senior Research & Development Managers, working in the bustling city of Minneapolis has its advantages, including an above-average pay rate. Senior Research & Development Managers' salaries are heavily influenced by location — Senior Research & Development Managers in New York bring in salaries that are 28 percent lower than the national average.
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