£37,341
Avg. Salary
£35.82
Avg. Hourly Rate

Average additional compensation for this job:

Bonus

£2,972

Profit Sharing

£1,200

The average pay for a Product Development Manager is £35.82 per hour.

The average pay for a Product Development Manager is £37,341 per year.

$0
10%
$36
50%
$0
90%
MEDIAN $36
$27k
10%
$37k
50%
$60k
90%
MEDIAN $37,341
£26,525 - £60,007
£27K
£37K
£60K
MEDIAN: £37,341
10%
50%
90%
£0£62K
Salary £26,525 - £60,007
Bonus £313 - £8,877
Profit Sharing £1,200
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).
)
£26,986 - £62,964
  • Country: United Kingdom
  • Currency: GBP
  • Updated: 20 Oct 2018
  • Individuals Reporting: 368

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. (Copyright 2018 PayScale.com)


Product Development Manager Tasks

  • Collaborate with sales and marketing to develop new business.
  • Assist in scale up to commercialization.
  • Manage the product development project pipeline and assignment and prioritization of resources.

Product Development Manager Pay By Employer

$0$59K

Fossil, Inc.
8 profiles
$49,900

Product Development Manager Job Listings

Popular Skills for Product Development Manager

Pay by Experience Level for Product Development Manager

Pay by Experience for a Product Development Manager has a positive trend. An entry-level Product Development Manager with less than 5 years of experience can expect to earn an average total compensation of ₤32,000 based on 88 salaries provided by anonymous users. Average total compensation includes tips, bonus, and overtime pay. A Product 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 ₤39,000 based on 70 salaries. An experienced Product Development Manager which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of ₤46,000 based on 62 salaries. A Product 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 ₤45,000 based on 24 salaries.

Pay Difference by Location

6%

-23%

National Average: £38,653

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

Product Development Manager Advice

Q: What is it like working as a Product Development Manager?

Product Development Manager in Maidenhead:
"Don't get sucked into the politics"
The advice one of my mentors gave me which has stuck is "Do the right thing". It's not always the easiest thing or the most popular but if you stay true to it and keep a pragmatic attitude you will achieve great things.

Product Development Manager in Cambridge:
"Partnerships Are Key"
Working in the product (or more specifically, service) development in local government is an interesting and worthwhile role. My advice would be that it is difficult, as there are many different partners, organisations and professionals to satisfy, as well as statutory needs to meet. I would recommend patience and allowing yourself the time to fully understand the needs of all of the service and individuals you are working with before rushing head long in to business defining decisions.

Related Job Salaries

Key Stats for Product Development Manager

Gender

Female
46 %
Male
54 %

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 9 votes.
Less than 1 year
2%
1-4 years
32%
5-9 years
26%
10-19 years
28%
20 years or more
12%

Experience Affects Product Development Manager Salaries

▲19%

▲17%

▼0%

National Average
₤39,000

▼17%

Skills That Affect Product Development Manager Salaries

Engineering Design
▲6%


National Average
₤39,000





Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 9 votes.

Gender

Female
46 %
Male
54 %

Years of Experience

Less than 1 year
2%
1-4 years
32%
5-9 years
26%
10-19 years
28%
20 years or more
12%

Common Health Benefits

medical benefits
Medical: 43%
dental benefits
Dental: 10%
vision benefits
Vision: 14%
no benefits
None: 50%