Product Development Manager Salary in Chicago, Illinois

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Average Salary for Product Development Manager in Chicago, Illinois

The average salary of a(n) Product Development Manager in Chicago, Illinois is $132,045.

The average hourly rate of a(n) Product Development Manager in Chicago, Illinois is $63.48.

The average bonus of a(n) Product Development Manager in Chicago, Illinois is $9,243.00.

Job Description:

Manages, coordinates, and provides strategic planning of activities concerned with research and development of new or improved concepts, ideas, basic data on, and applications for organization's products, services, or ideologies including engineering research and development programs. Oversees the research, identification, evaluation, and initial development of new products or services. Plans and formulates aspects of research and development proposals, such as objective or purpose of projects, applications that can be utilized from findings, cost of projects, and equipment and manpower requirements. Reviews and analyzes proposals submitted to determine if benefits derived and possible applications justify expenditures. Submits proposals considered feasible to management for consideration and recommends allocation of funds from department budget. Monitors projects, such as preparation of records of expenditures and research findings, progress reports, and staff conferences in order to inform management of current status of each project. Reports revenue and profitability to upper management. Keeps current on competitors' products and services. May be responsible for the overall implementation of new products or services and/or improvement of existing products or services. May engage market research firms to perform studies. Less

Manages, coordinates, and provides strategic planning of activities concerned with research and development of new or improved concepts, ideas, basic data on, and applications for organization's products, services, or ideologies including engineering research and development programs. Oversees the research, identification,... More

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