As of April 01, 2025, the average annual salary for a Product Development Manager in Elgin, IL is $143,487. Salary.com reports that pay typically ranges from $129,024 to $156,958, with most professionals earning between $115,857 and $169,223.
| Annual Salary |
Monthly Pay |
Weekly Pay |
Hourly Wage |
|
| 75th Percentile | $156,958 | $13,080 | $3,018 | $75 |
| Average | $143,487 | $11,957 | $2,759 | $69 |
| 25th Percentile | $129,024 | $10,752 | $2,481 | $62 |
An entry-level Product Development Manager with under 1 year experience makes about $138,091. With less than 2 years of experience, a mid-level Product Development Manager makes around $138,738. After 2-4 years, the Product Development Manager pay rises to about $140,249. Those senior Product Development Manager with 5-8 years of experience earn roughly $141,976, and those Product Development Manager having 8 years or more experience are expected to earn about $144,895 on average.
| Levels | Salary |
|---|---|
| Entry Level Product Development Manager | $138,091 |
| Intermediate Level Product Development Manager | $138,738 |
| Senior Level Product Development Manager | $140,249 |
| Specialist Level Product Development Manager | $141,976 |
| Expert Level Product Development Manager | $144,895 |
| Entry Level | 2% |
| Mid Level | 2% |
| Senior Level | 1% |
| Top Level | 1% |
| Experienced | 3% |
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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.
Project Management: Project management is the application of processes, methods, skills, knowledge and experience to achieve specific project objectives according to the project acceptance criteria within agreed parameters. Project management has final deliverables that are constrained to a finite timescale and budget.
Supply Chain: A supply chain encompasses everything from the delivery of source materials from the supplier to the manufacturer through to its eventual delivery to the end user.
Product Quality: Product quality refers to how well a product satisfies customer needs, serves its purpose and meets industry standards. When evaluating product quality, businesses consider several key factors, including whether a product solves a problem, works efficiently or suits customers' purposes.
| Skill | Salary | Demand |
|---|---|---|
|
Prioritization
|
$152,097 |
6%
|
|
Alignment
|
$150,662 |
5%
|
|
Design Engineering
|
$150,662 |
5%
|
|
Agile Development
|
$150,662 |
5%
|
|
Decision Making
|
$150,662 |
5%
|
|
Insight
|
$149,227 |
4%
|
