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What is the salary range of Product Design Engineer V?

As of December 01, 2024, the average annual pay of Product Design Engineer V in the United States is $172,313. While Salary.com is seeing that Product Design Engineer V salary in the US can go up to $205,247 or down to $143,256, but most earn between $157,103 and $189,552. Salary.com shows the average base salary (core compensation), as well as the average total cash compensation for the job of Product Design Engineer V in the United States.

Product Design Engineer V Salaries by Percentile
Annual
Salary
Monthly
Pay
Weekly
Pay
Hourly
Wage
75th Percentile $189,552 $15,796 $3,645 $91
Average $172,313 $14,359 $3,314 $83
25th Percentile $157,103 $13,092 $3,021 $76

Average Salary

25% $157,103 10% $143,256 90% $205,247 75% $189,552 $172,313 50%(Median) Didn’t find job title? Click
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What is the hourly and monthly salary as a Product Design Engineer V?

As of December 01, 2024, the average hourly salary is $83 (range: $69 to $99); the average monthly salary is $14,359 (range: $11,938 to $17,104).

Click the switch button below to see weekly and yearly salary of a Product Design Engineer V.

Last Updated on December 01, 2024
Last Updated on December 01, 2024

What are the salaries of Product Design Engineer V with different levels of experience?

As of December 01, 2024, Salary.com is seeing that an entry-level Product Design Engineer V with under 1 year experience makes about $164,618. With less than 2 years of experience, a mid-level Product Design Engineer V makes around $165,748. After 2-4 years, the Product Design Engineer V pay rises to about $166,877. Those senior Product Design Engineer V with 5-8 years of experience earn roughly $169,135, and those Product Design Engineer V having 8 years or more experience is expected to earn about $171,394 on average.

Levels Salary
Entry Level Product Design Engineer V $164,618
Intermediate Level Product Design Engineer V $165,748
Senior Level Product Design Engineer V $166,877
Specialist Level Product Design Engineer V $169,135
Expert Level Product Design Engineer V $171,394
$164,618 0 yr
$165,748 < 2 yrs
$166,877 2-4 yrs
$169,135 5-8 yrs
$171,394 > 8 yrs
Last Updated on December 01, 2024
Entry Level 4%
Mid Level 4%
Senior Level 3%
Top Level 2%
Experienced 1%
View as graph
Last Updated on December 01, 2024

How much does salary of Product Design Engineer V vary from state to state?

How much does salary of Product Design Engineer V vary from city to city?

Salaries in the United States can vary significantly from city to city due to a multitude of factors, including cost of living, local economic conditions, and industry presence.

For example, as of December 01, 2024, the average yearly salary of Product Design Engineer V in San Francisco, CA is $215,391 and in New York, NY, the average annual salary goes to $201,262. While a Product Design Engineer V earns $193,163 per year in Boston, MA.

What is the salary trend of Product Design Engineer V?

For those exploring the changing dynamics of Product Design Engineer V salaries, Salary.com offers detailed insights through our Job Trending in CA Labor Market analysis. As of December 01, 2024, our research highlights a notable shift in Product Design Engineer V compensation over the past six years. For instance, the median salary has moved from $163,830 in 2023 to about $163,531 in 2024 (for a comprehensive analysis of Product Design Engineer V salary trends, click here). It's crucial to consider several elements, including geographical location, experience level, industry demand, and economic development, as they play a significant role in influencing salary variations.

Average Annual Salary of Product Design Engineer V Over Time

2020
$???
2021
$???
2022
$???
$163,830
2023
$163,531
2024
$162,125
2025
2026
$???
Last Updated on December 01, 2024
2020
$???
2021
$???
2022
$???
2023
$163,830
2024
$163,531
2025
$162,125
2026
$???
Last Updated on December 01, 2024

Product Design Engineer V Salary by Year

Year Average Annual Salary
2020 View More
2021 View More
2022 View More
2023 $163,830
2024 $163,531
2025 $162,125
2026 View More
Last Updated on December 01, 2024

Job Openings of Product Design Engineer V

Salary.com job board provides millions of Product Design Engineer V information for you to search for. Click on search button below to see Product Design Engineer V job openings or enter a new job title here.

Most Common Benefits for Product Design Engineer V

Based on HR-reported data: a national average with a geographic differential
Base Salary 67.1%
Bonuses 6.9%
Social Security 5.1%
401k/403b 3.1%
Disability 1.5%
Healthcare 3.3%
Pension 4.0%
Time Off 9.1%
Core Compensation
Core Compensation Median % of Total
Base Salary $172,313 67.1%
Bonus $17,664 6.9%
Value of Benefits
Core Compensation Median % of Total
Social Security $13,208 5.1%
401K/403B $7,979 3.1%
Disability $3,800 1.5%
Healthcare $8,352 3.3%
Pension $10,259 4.0%
Time Off $23,382 9.1%
Total Compensation $256,956 100%
Core Compensation is based on averages for this job and does not reflect personal factors used to determine your projected salary range.
Value of Benefits indicates the employer's expected contribution and paid time off.
Last Updated on December 01, 2024

FAQ about Product Design Engineer V

1. What is the average salary of a Product Design Engineer V?

The average annual salary of Product Design Engineer V is $172,313. In case you are finding an easy salary calculator, the average hourly pay of Product Design Engineer V is $83; the average weekly pay of Product Design Engineer V is $3,314; the average monthly pay of Product Design Engineer V is $14,359.

2. Where can a Product Design Engineer V earn the most?

A Product Design Engineer V's earning potential can vary widely depending on several factors, including location, industry, experience, education, and the specific employer. According to the latest salary data by Salary.com, a Product Design Engineer V earns the most in San Jose, CA, where the annual salary of a Product Design Engineer V is $216,253.

3. What is the highest pay for Product Design Engineer V?

The highest pay for Product Design Engineer V is $205,247.

4. What is the lowest pay for Product Design Engineer V?

The lowest pay for Product Design Engineer V is $143,256.

5. What are the responsibilities of Product Design Engineer V?

Product Design Engineer V designs, develops, and enhances new and existing products/product lines. Evaluates and recommends specifications and ensures products meet the technical and functional requirements. Being a Product Design Engineer V recommends and follows reliable, efficient, and cost-effective procedures. Performs feasibility, functional, and quality testing of designs. Additionally, Product Design Engineer V works with other members of the engineering staff to ensure project milestones are met and that projects are completed according to established timelines. Requires a bachelor's degree or equivalent. Typically reports to a manager or head of a unit/department. The Product Design Engineer V works autonomously. Goals are generally communicated in "solution" or project goal terms. May provide a leadership role for the work group through knowledge in the area of specialization. Works on advanced, complex technical projects or business issues requiring state of the art technical or industry knowledge. To be a Product Design Engineer V typically requires 10+ years of related experience.

6. What are the skills of Product Design Engineer V

Specify the abilities and skills that a person needs in order to carry out the specified job duties. 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.)

Analysis: Analysis is the process of considering something carefully or using statistical methods in order to understand it or explain it.

2.)

3D CAD: CAD is short for Computer-aided design. It's the use of computers to aid in the creation and optimization of a design. Designs made through 3D CAD software focus on the three dimensional quality of design of characters and objects.

3.)

Statistical Analysis: Statistics is a branch of mathematics working with data collection, organization, analysis, interpretation and presentation. In applying statistics to a scientific, industrial, or social problem, it is conventional to begin with a statistical population or a statistical model to be studied. Populations can be diverse groups of people or objects such as "all people living in a country" or "every atom composing a crystal". Statistics deals with every aspect of data, including the planning of data collection in terms of the design of surveys and experiments. See glossary of probability and statistics. When census data cannot be collected, statisticians collect data by developing specific experiment designs and survey samples. Representative sampling assures that inferences and conclusions can reasonably extend from the sample to the population as a whole. An experimental study involves taking measurements of the system under study, manipulating the system, and then taking additional measurements using the same procedure to determine if the manipulation has modified the values of the measurements. In contrast, an observational study does not involve experimental manipulation.

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. With more online, real-time compensation data than any other website, Salary.com helps you determine your exact pay target.

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The average salary for a Product Design Engineer V is $172,313 per year in the United States, updated at December 01, 2024.
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