Product Development Manager in Chicago, Illinois Salary

How much does a Product Development Manager make in Chicago, IL? A Product Development Manager in Chicago earns an average of $88,568 annually. This is 12% higher than the national average for a Product Development Manager which is $77,978 per year. Salaries for a Product Development Manager in Chicago range from $60,256 annually to $131,605 per year. Total Annual Pay, which includes salary, bonus, and profit sharing for a Product Development Manager in Chicago ranges from $60,256 to $145,958 annually. Job satisfaction is reported as 4 out of 5 stars. Among those reporting, there is a fairly even distribution of men (45%) and woman (55%) filling this role in Chicago. Many report receiving medical, dental, and vision benefits from their employer.

$60,256 - $131,605
$60K
$89K
$130K
MEDIAN: $88,568
10%
50%
90%

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$0$145K
Salary $60,256 - $131,605
Bonus $1,468 - $20,273
Profit Sharing $12,600
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).
)
$60,256 - $145,958
  • Country: United States
  • Currency: USD
  • Updated: 16 Nov 2017
  • Individuals Reporting: 49

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.

About Chicago, Illinois

Cook County, Illinois
2,720,556
Male:
1,320,015 (48.5%)
Female:
1,400,541 (51.5%)
Chicago (/ʃᵻˈkɑːɡoʊ/ or /ʃᵻˈkɔːɡoʊ/), officially the City of Chicago, is the third-most populous city in the United States. With over 2.7 million residents, it is the most populous city in the state of Illinois and the Midwestern United States, and the county seat of Cook County. The Chicago metropolitan area, often referred to as Chicagoland, has nearly 10 million people and is the third-largest in the U.S. Chicago was incorporated as a city in 1837, near a portage between the Great Lakes and the Mississippi River watershed, and grew rapidly in the mid-nineteenth century. The city is an international hub for finance, commerce, industry, technology, telecommunications, and transportation: O'Hare International Airport is the second-busiest airport in the world when measured by aircraft traffic; the region also has the largest number of U.S. highways and rail road freight. In 2012, Chicago was listed as an alpha global city by the Globalization and World Cities Research...
Chicago:
$50,702
Illinois:
$59,588
$985
Chicago:
$238,500
Illinois:
$180,300
6.3%

Product Development Manager Job Listings

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 $76,000 based on 17 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 $88,000 based on 21 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 $118,000 based on 17 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 $132,000 based on 8 salaries.

Key Stats for Product Development Manager

Gender

Female
55 %
Male
45 %

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 9 votes.
1-4 years
22%
5-9 years
33%
10-19 years
27%
20 years or more
18%

Experience Affects Product Development Manager Salaries

Late-Career
▲40%

▲25%

National Average
$94,000

▼7%

▼20%

Skills That Affect Product Development Manager Salaries

People Management
▲29%

Marketing Management
▲8%

Market Research
▼0%

National Average
$94,000

Product Management
▼1%


Microsoft Office
▼10%

Design
▼12%


Microsoft Word
▼15%

Microsoft Excel
▼16%

Job Satisfaction

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

Gender

Female
55 %
Male
45 %

Years of Experience

1-4 years
22%
5-9 years
33%
10-19 years
27%
20 years or more
18%

Common Health Benefits

medical benefits
Medical: 98%
dental benefits
Dental: 95%
vision benefits
Vision: 65%
no benefits
None: 3%