As of May 18, 2021, the average salary for a Product Development Manager in Michigan is $140,117 per year, which breaks down to an hourly rate of $67.
However, a Product Development Manager's salary can vary significantly. Here’s a look at the typical salary range:
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Product Development Manager Salaries by Percentile
| Annual Salary |
Monthly Pay |
Weekly Pay |
Hourly Wage |
|
| 75th Percentile | $150,852 | $12,571 | $2,901 | $73 |
| Average | $140,117 | $11,676 | $2,695 | $67 |
| 25th Percentile | $127,336 | $10,611 | $2,449 | $61 |
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A Product Development Manager's salary isn't a fixed number. It's shaped by several important factors. Below, we'll explore how your years of experience, geographic location and company size can directly affect your earning potential.
Experience is a primary driver of a Product Development Manager's salary. As you build your skills and take on more complex tasks, your compensation generally increases. Here's how the average salary grows at different career stages:
| Job Role | Years of Experience | Average Salary |
|---|---|---|
| Product Development Analyst IV | 7+ years | $131,525 |
| Product Development Analyst V | 7-10 years | $158,646 |
| Product Development Manager | 10+ years | $140,117 |
| Product Development Senior Manager | 10+ years | $178,489 |
| Product Development Director | 10+ years | $218,059 |
What Am I Worth?
Your salary can change significantly depending on where you work. States with a higher cost of living and strong industrial sectors often pay more to attract Product Development Managers. For example, consider the average annual salaries in these key locations:
Salaries can also vary between different cities. Major metropolitan areas or cities with a high demand for technicians often offer more competitive pay. Here are a few examples of average annual salaries in different U.S. cities:
Understanding how a Product Development Manager's annual salary breaks down can help with budgeting. Below, you can see the average hourly rate, weekly pay, and monthly pay for this role. Use the buttons to switch between different pay periods.
| Annual Salary | Monthly Pay | Weekly Pay | Hourly Wage | |
|---|---|---|---|---|
| 75th Percentile | $150,852 | $12,571 | $2,901 | $73 |
| Average | $140,117 | $11,676 | $2,695 | $67 |
| 25th Percentile | $127,336 | $10,611 | $2,449 | $61 |
For a Product Development Manager, the most direct path to higher earnings is advancing to the Product Development Senior Manager role. This promotion typically comes with a significant pay increase, bringing the average annual salary to $178,489 - a projected growth of 27% over your current level.
Ready to take the next step in your career? Browse thousands of current Product Development Manager job openings on our job board. Use the search bar below to find your perfect match.
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