As of April 01, 2025, the average annual salary for a Product Design Engineer V in Waterloo, IA is $149,750. Salary.com reports that pay typically ranges from $142,777 to $162,677, with most professionals earning between $136,428 and $174,447.
| Annual Salary |
Monthly Pay |
Weekly Pay |
Hourly Wage |
|
| 75th Percentile | $162,677 | $13,556 | $3,128 | $78 |
| Average | $149,750 | $12,479 | $2,880 | $72 |
| 25th Percentile | $142,777 | $11,898 | $2,746 | $69 |
An entry-level Product Design Engineer V with under 1 year experience makes about $146,628. With less than 2 years of experience, a mid-level Product Design Engineer V makes around $147,148. After 2-4 years, the Product Design Engineer V pay rises to about $147,669. Those senior Product Design Engineer V with 5-8 years of experience earn roughly $148,709, and those Product Design Engineer V having 8 years or more experience are expected to earn about $149,750 on average.
| Levels | Salary |
|---|---|
| Entry Level Product Design Engineer V | $146,628 |
| Intermediate Level Product Design Engineer V | $147,148 |
| Senior Level Product Design Engineer V | $147,669 |
| Specialist Level Product Design Engineer V | $148,709 |
| Expert Level Product Design Engineer V | $149,750 |
| Entry Level | 8% |
| Mid Level | 8% |
| Senior Level | 8% |
| Top Level | 7% |
| Experienced | 7% |
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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.
Analysis: Analysis is the process of considering something carefully or using statistical methods in order to understand it or explain it.
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.
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.
| Skill | Salary | Demand |
|---|---|---|
|
Injection Molding
|
$167,720 |
12%
|
|
CNC
|
$163,228 |
9%
|
|
Effective Communication
|
$161,730 |
8%
|
|
Process Development
|
$158,735 |
6%
|
|
Design of Experiments
|
$158,735 |
6%
|
|
Collaboration
|
$157,238 |
5%
|
