As of July 01, 2026, the average salary for a Product Development in Virginia is $139,984 per year, which breaks down to an hourly rate of $67.
However, a Product Development's salary can vary significantly. Here’s a look at the typical salary range:
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Product Development Salaries by Percentile
| Annual Salary |
Monthly Pay |
Weekly Pay |
Hourly Wage |
|
| 75th Percentile | $151,027 | $12,586 | $2,904 | $73 |
| Average | $139,984 | $11,665 | $2,692 | $67 |
| 25th Percentile | $127,642 | $10,637 | $2,455 | $61 |
Kinsale Insurance - Richmond, VA
Richmond National - Glen Allen, VA
Elbit Systems of America - Roanoke, VA
Kinsale Management, Inc - Richmond, VA
A Product Development's salary isn't a fixed number. It's shaped by several important factors. Below, we'll explore how your years of experience, geographic location and company size can directly affect your earning potential.
Experience is a primary driver of a Product Development's salary. As you build your skills and take on more complex tasks, your compensation generally increases. Here's how the average salary grows at different career stages:
| Levels | Salary |
|---|---|
| Product D... Level Product Development | $130,645 |
| Product D... Level Product Development | $157,545 |
| Product D... Level Product Development | $139,172 |
| Product D... Level Product Development | $177,306 |
| Product D... Level Product Development | $216,767 |
What Am I Worth?
Your salary can change significantly depending on where you work. States with a higher cost of living and strong industrial sectors often pay more to attract Product Developments. For example, consider the average annual salaries in these key locations:
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:
For Product Development roles, the industry you choose can affect earning potential by as much as 30% (the gap between the highest and lowest paying industries). Data shows that the Energy & Utilities and MFG Nondurable sectors offer the strongest compensation, at 15% above the average. In contrast, Product Development positions in Edu., Gov't. & Nonprofit or Pharmaceuticals typically offer lower base pay, as these industries often view Product Development as a support function rather than a direct revenue driver.
| Industry Sector | Average Annual Salary | Average Hourly Rate | Pay vs.Avg |
|---|---|---|---|
| Energy & Utilities | $160,982 | $77.0 | 15% |
| MFG Nondurable | $156,782 | $75.0 | 12% |
| Aerospace & Defense | $153,982 | $74.0 | 10% |
| Insurance | $151,183 | $73.0 | 8% |
| Retail & Wholesale | $148,383 | $71.0 | 6% |
Understanding how a Product Development'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.
| Annual Salary | Monthly Pay | Weekly Pay | Hourly Wage | |
|---|---|---|---|---|
| 75th Percentile | $151,027 | $12,586 | $2,904 | $73 |
| Average | $139,984 | $11,665 | $2,692 | $67 |
| 25th Percentile | $127,642 | $10,637 | $2,455 | $61 |
Ready to take the next step in your career? Browse thousands of current Product Development job openings on our job board. Use the search bar below to find your perfect match.
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