Abbott
Springfield, IL
Product Research and Development Director Salary in Chicago, Illinois
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Product Research and Development Director Salary in Chicago, IL
Product Research and Development Director Salaries by Percentile
| Annual Salary |
Monthly Pay |
Weekly Pay |
Hourly Wage |
|
| 75th Percentile | $272,700 | $22,725 | $5,244 | $131 |
| Average | $241,500 | $20,125 | $4,644 | $116 |
| 25th Percentile | $212,200 | $17,683 | $4,081 | $102 |
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How much does a Product Research and Development Director Make?
As of September 01, 2024, the average annual pay of Product Research and Development Director in the Chicago, IL is $241,500. While Salary.com is seeing that Product Research and Development Director salary in the US can go up to $301,106 or down to $185,524, but most earn between $212,200 and $272,700. Salary.com shows the average base salary (core compensation), as well as the average total cash compensation for the job of Product Research and Development Director in the United States.- View Average Salary for United States
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View Product Research and Development Director Salary by Experience Levels
An entry-level Product Research and Development Director with under 1 year experience makes about $222,981. With less than 2 years of experience, a mid-level Product Research and Development Director makes around $225,612. After 2-4 years, the Product Research and Development Director pay rises to about $229,119. Those senior Product Research and Development Director with 5-8 years of experience earn roughly $233,503, and those Product Research and Development Director having 8 years or more experience are expected to earn about $237,887 on average.
$222,981
0 yr
$225,612
< 2 yrs
$229,119
2-4 yrs
$233,503
5-8 yrs
$237,887
> 8 yrs
Last Updated on September 01, 2024
| Entry Level | 8% |
| Mid Level | 7% |
| Senior Level | 5% |
| Top Level | 3% |
| Experienced | 1% |
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Last Updated on September 01, 2024
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Job Openings of Product Research and Development Director
Salary.com job board provides millions of Product Research and Development Director information for you to search for. Click on search button below to see Product Research and Development Director job openings or enter a new job title here.
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Abbott
Springfield, IL
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Abbott - Springfield, ILAbbott is a global healthcare leader that helps people live more fully at all stages of life. Our portfolio of life-changing technologies spans the spectru... more
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Cost of Living In Chicago, IL
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than the National Average
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Best-Paid Skills and Qualifications for Product Research and Development Director
What skills does a Product Research and Development Director need?
Each competency has five to ten behavioral assertions that can be observed, each with a corresponding performance level (from one to five) that is required for a particular job.
1.
Innovation: The ability and process of implementing new ideas and initiatives to improve organizational performance.
2.
Research and Development: Research and development (R&D, R+D, or R'n'D), known in Europe as research and technological development (RTD), refers to innovative activities undertaken by corporations or governments in developing new services or products, or improving existing services or products. Research and development constitutes the first stage of development of a potential new service or the production process. R&D activities differ from institution to institution, with two primary models of an R&D department either staffed by engineers and tasked with directly developing new products, or staffed with industrial scientists and tasked with applied research in scientific or technological fields, which may facilitate future product development. R&D differs from the vast majority of corporate activities in that it is not intended to yield immediate profit, and generally carries greater risk and an uncertain return on investment. However R&D is crucial for acquiring larger shares of the market through the marketisation of new products.
3.
Microsoft Office: Microsoft Office is a suite of desktop productivity applications that is designed by Microsoft for business use. You can create documents containing text and images, work with data in spreadsheets and databases, create presentations and posters.
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What skills can make your compensation higher?
Mastering certain skills can make the compensation of a Product Research and Development Director higher. Salary.com's Real-time Job Posting Salary Data provides you the latest highly compensated skills to help you get a higher pay. For example, if you master Innovation, you can get a 5% salary raise. If you are good at Alignment, your salary will increase by 5%. If you are expert in Chemistry, your salary will rise by 4%.
| Skill | Salary | Demand |
|---|---|---|
|
Innovation
|
$253,575 |
5%
|
|
Alignment
|
$253,575 |
5%
|
|
Chemistry
|
$251,160 |
4%
|
|
Product Development
|
$251,160 |
4%
|
|
Communication Skills
|
$248,745 |
3%
|
|
Initiative
|
$248,745 |
3%
|
About Our Data
Salary.com salary estimates, histograms, trends, and comparisons are derived from both employer job postings and third-party data sources.
We also provide multiple percentiles of salary information for your reference, click here to know Why the Salary Midpoint Formula Is Crucial to Getting Pay Equity Right.
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The average salary for a Product Research and Development Director is $241,500 per year in Chicago, IL, updated at September 01, 2024.
