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Insurance Product Development Manager Salary in Illinois

How much does an Insurance Product Development Manager make in Illinois?

As of July 01, 2026, the average salary for an Insurance Product Development Manager in Illinois is $145,970 per year, which breaks down to an hourly rate of $70.

However, an Insurance Product Development Manager's salary can vary significantly. Here’s a look at the typical salary range:

  • Top Earners (90th percentile): $181,420
  • Majority Range (25th-75th percentile): $129,913 to $164,526
  • Entry-Level (10th percentile): $115,294
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Paid Annually Paid Monthly Paid Semimonthly Paid Biweekly Paid Weekly Paid Hourly
View as table View as graph 25% $129,913 10% $115,294 90% $181,420 75% $164,526 $145,970 50%(Median) Didn’t find job title? Click

Insurance Product Development Manager Salaries by Percentile

Annual
Salary		 Monthly
Pay		 Weekly
Pay		 Hourly
Wage
75th Percentile $164,526 $13,710 $3,164 $79
Average $145,970 $12,164 $2,807 $70
25th Percentile $129,913 $10,826 $2,498 $62
Check out Insurance Product Development Manager Job Openings in Illinois
Vice President of Product Development and Production

Confidential - Chicago, IL

Vice President Product&amp Business Development

Confidential - Chicago, IL

Business Development Executive

Marsh & McLennan - Chicago, IL

Senior Product Development Analyst

PURE Insurance - Chicago, IL

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Key Factors That Influence Insurance Product Development Manager Salaries

An Insurance Product Development Manager's salary isn't a fixed number. It's shaped by several important factors. Below, we'll explore how geographic location, and company size can directly affect your earning potential.

Top Paying Cities for Insurance Product Development Managers

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:

  • Effingham: $134,555
  • Saint Peter: $134,370
  • Salem: $134,881

Insurance Product Development Manager Salary by Company Size: Startups vs. Enterprise

Insurance Product Development Manager salary potential scales significantly with company size. Data shows that Enterprise companies (5,000+ employees) pay the highest average salary at around $157,762. While startup companies pay approximate $133,701.

Insurance Product Development Manager Salary by Company Size

Company Size Employees Average Salary
Startup1~50$133,701
Growth Stage51~500$141,350
Established501~5000$152,422
Enterprise5000+$157,762

Insurance Product Development Manager Salary by Industry: Top Paying Sectors

For Insurance Product Development Manager roles, the industry you choose can affect earning potential by as much as 90% (the gap between the highest and lowest paying industries). Data shows that the Financial Services and Edu., Gov't. & Nonprofit sectors offer the strongest compensation, at 50% above the average. In contrast, Insurance Product Development Manager positions in Insurance or Business Services typically offer lower base pay, as these industries often view Insurance Product Development Manager as a support function rather than a direct revenue driver.

The top paying industries for an Insurance Product Development Manager

Industry Sector Average Annual Salary Average Hourly Rate Pay vs.Avg
Financial Services$218,955$105.050%
Edu., Gov't. & Nonprofit$175,164$84.020%

Insurance Product Development Manager Salary: Hourly Rate, Weekly Pay, and Monthly Pay

Understanding how an Insurance 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.

  • Yearly
  • Monthly
  • Weekly
  • Hourly
  • Table View
Last Updated on July 01, 2026
$129,913
Average $145,970/year
$164,526
$10,826
Average $12,164/month
$13,710
$2,498
Average $2,807/week
$3,164
$62
Average $70/hour
$79
Annual Salary Monthly Pay Weekly Pay Hourly Wage
75th Percentile $164,526 $13,710 $3,164 $79
Average $145,970 $12,164 $2,807 $70
25th Percentile $129,913 $10,826 $2,498 $62

Insurance Product Development Manager Salary Growth & Career Path

Insurance Product Development Manager
Insurance Product Development Senior Manager
SVP of Insurance Product Development

For an Insurance Product Development Manager, the most direct path to higher earnings is advancing to the Insurance Product Development Senior Manager role. This promotion typically comes with a significant pay increase, bringing the average annual salary to $173,547 - a projected growth of 19% over your current level.

Salaries of jobs related to Insurance Product Development Manager

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Cost of Living In Illinois

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