Product Development Manager Salary

Earnings for Product Development Managers in the United States come in at around $78K per year on average. Cash earnings for Product Development Managers — which occasionally include more than $18K from bonuses and more than $15K from profit sharing — stretch from around $47K to approximately $130K. Geographic location and experience level each impact pay for this group, with the former having the largest influence. Most workers in this position report high levels of job satisfaction. A large number enjoy medical while a fair number get dental coverage. Vision coverage is also available to the greater part. Male Product Development Managers are just a bit more common among those who completed the questionnaire than females ones, with male workers composing 51 percent of the field. Figures cited in this summary are based on replies to PayScale's salary questionnaire.
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$47,639 - $119,823
$48K
$78K
$120K
MEDIAN: $78,049
10%
50%
90%

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$14.45 - $45.00
$14
$22
$45
MEDIAN: $21.97
10%
50%
90%

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$0$128K
Salary $47,639 - $119,823
Bonus $826 - $17,637
Profit Sharing $-0.48 - $15,574
Commission $7,500
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).
)
$47,311 - $128,580
  • Country: United States
  • Currency: USD
  • Updated: 20 Sep 2017
  • Individuals Reporting: 1,280
Hourly Data $0$73
Hourly Rate $14.45 - $45.00
Overtime $19.92 - $73.40
Annual Data $0$128K
Bonus $826 - $17,637
Commission $7,500
Profit Sharing $-0.48 - $15,574
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).
)
$47,311 - $128,580
  • Country: United States
  • Currency: USD
  • Updated: 20 Sep 2017
  • Individuals Reporting: 49

Find Out Exactly What You Should Be Paid

United States (change)

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 2017 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.

Common Career Paths for Product Development Manager


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Product Development Managers do not often transition into VP of Product Development roles. The role averages $152K per year. Career advancement for the typical Product Development Manager often leads to becoming a Product Development Director or a Senior Product Manager; median salaries in these positions are $39K higher and $44K higher, respectively.

Product Development Manager Job Listings

Popular Skills for Product Development Manager


Survey takers working as Product Development Managers report using a large range of professional skills. Most notably, skills in Engineering Design, People Management, Project Management, and Product Management are correlated to pay that is above average. Those listing Adobe Illustrator as a skill should be prepared for drastically lower pay. Microsoft Excel and Sourcing also typically command lower compensation. The majority of those who know Product Development also know Microsoft Excel and Microsoft Office.

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 $64,000 based on 523 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 $81,000 based on 500 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 $100,000 based on 442 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 $110,000 based on 142 salaries.

Pay Difference by Location

National Average: $80,477

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

Surpassing the national average by 25 percent, Product Development Managers in Boston receive some of the highest pay in the country. Product Development Managers will also find cushy salaries in Atlanta (+24 percent), Chicago (+14 percent), San Francisco (+11 percent), and Rochester (+4 percent). Product Development Managers in Miami take home the lowest salaries, earning a whopping 34 percent less than the national average. Not at the bottom but still paying below the median are employers in Los Angeles and Minneapolis (14 percent lower and 4 percent lower, respectively).

Product Development Manager Reviews

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

Product Development Manager in Phoenix:
Pros: My job is just a laundry list of puzzles to solves. Fortunately, I do well in solving puzzles and enjoy it very much. Every day, something new is happening and it always keeps me on my feet. Managing on a program level allows me a highly accelerated method of learning how the company works on a large scale.
Cons: It is very stressful and there isn't a second to relax your brain. By the time the day is over, I am just mentally exhausted. This makes it difficult to push on with PMP certifications and pursuing my degree.

Product Development Manager in Burleson:
"Empowered decision making."
Pros: Managing a team that is over our core products is both challenging and exciting. I have product decision responsibilities with close to complete autonomy. This is a new position for our company. The product responsibilities were held by our owner. This means that we have a lot of influence over the direction of the company.
Cons: I feel like I'm underpaid. We're going through a transition where we are formalizing product development processes. This is challenging and resulting in tension between the product and IT teams.

Product Development Manager in San Francisco:
"Every day I work with a team that wants to change the world."
Pros: I'm doing what I love. I get talk with people about their dreams and then help make them a reality. I get to relate with our customers and show them that we are cut from the same cloth, and that I am on their side and I want to make the tools they need.
Cons: Giving all-hands presentations, public speaking is a nightmare.

Product Development Manager in Chicago:
"Constant learning & creating products."
Pros: Developing rough ideas to fully marketable products.
Cons: You have to be an expert in many areas of the business.

Product Development Manager in Concord:
"Hmm..."
Pros: Working with interesting software.
Cons: Inconsistencies in practices and questionable ethics.

Related Job Salaries

Key Stats for Product Development Manager

Gender

Female
50 %
Male
50 %

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 251 votes.
Less than 1 year
2%
1-4 years
28%
5-9 years
29%
10-19 years
29%
20 years or more
12%
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Location:
Years in Fields/Career:
United States (change)

Experience Affects Product Development Manager Salaries

▲37%

▲24%

▼0%

National Average
$80,000

▼21%

Skills That Affect Product Development Manager Salaries




Product Management
▼0%

National Average
$80,000




▼7%




▼14%

▼14%



Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 251 votes.

Gender

Female
50 %
Male
50 %

Years of Experience

Less than 1 year
2%
1-4 years
28%
5-9 years
29%
10-19 years
29%
20 years or more
12%

Common Health Benefits

medical benefits
Medical: 88%
dental benefits
Dental: 77%
vision benefits
Vision: 65%
no benefits
None: 10%
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