Average Product Development Manager Salary in Saint Vincent and the Grenadines for 2024

In this article, we will look at the average Product Development Manager salary for 2024 in Saint Vincent and the Grenadines and how that compares to other countries and professions. We'll also look at interesting salary data points like median salary, 25th and 75th percentile salaries, salary amounts based on experience, bonus ranges and more!

The data in this article has been compiled using official government salary data, salary surveys, and other sources such as job postings which contain salary information.

All salary information is in the local currency, which is the Eastern Caribbean dollar. To keep things simple, we are using the XCD currency code instead of the currency symbol $.

How Much Does a Product Development Manager Make in Saint Vincent and the Grenadines?

A Product Development Manager working in Saint Vincent and the Grenadines will typically earn around 60,400 XCD per year, and this can range from the lowest average salary of about 30,800 XCD to the highest average salary of 91,580 XCD.

Average Annual Salary
60,400 XCD
Average Monthly Salary
5,033 XCD

Lowest Annual Salary
30,800 XCD
Lowest Monthly Salary
2,566 XCD

Highest Annual Salary
91,580 XCD
Highest Monthly Salary
7,631 XCD

These are average salaries for a Product Development Manager in Saint Vincent and the Grenadines and include benefits such as housing and transport. It's also possible for a Product Development Manager to earn more or less than the average salaries shown above.

Product Development Manager salaries will vary a lot based on your experience, location, skills, and gender. Keep reading below to research more data on each of these areas.

Distribution of Product Development Manager Salaries in Saint Vincent and the Grenadines

So we've looked at the average salaries a Product Development Manager will earn in Saint Vincent and the Grenadines. The next interesting data point is the distribution of salaries.

Salary ranges

We already know that a Product Development Manager can earn between 30,800 XCD and 91,580 XCD on average in Saint Vincent and the Grenadines. This is known as the range in statistics.

The difference between the maximum and minimum values is a good indicator of variability in salaries, and can be used by employers to figure out how much they can expect to pay, and for employees to know how much they can earn.

Median salary

The median salary for a Product Development Manager in Saint Vincent and the Grenadines is 60,400 XCD. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 60,400 XCD, and 50% of the population earn more than 60,400 XCD.

If you are earning more than the median salary, that's a good indicator that you are being paid well.

If you're not earning more than the median salary, your objective should be to increase your earnings to be at least as high as the median salary (which you can do by asking for a pay rise, looking for a better paying job, etc).

Percentiles

Percentiles are similar to the median salary, but instead of looking at the middle value, they look at the values in the top and bottom half of the distribution.

For the average Product Development Manager salary in Saint Vincent and the Grenadines, 25% of the population are earning less than 38,620 XCD while 75% of the population earn more than 38,620 XCD.

75% of the population earn less than 73,980 XCD, and 25% of the population earn more than 73,980 XCD.

Like the median salary, the 25th and 75th percentile salaries can be used to determine which quartile you fall into so that you know whether you are being paid well enough compared to others in your profession and location.

The difference between a median and an average salary

The median and average salary are both indicators you can use to see if you are being paid fairly based on the overall population.

  • If your salary is higher than the average and the median salary, you are earning well compared to others.
  • If your salary is lower than the average and the median salary, it could indicate you are not being paid well enough.
  • If you are somewhere in between then it's tricky to determine if you are being paid well enough and you might need to research more closely.

Product Development Manager Salary by Experience Level in Saint Vincent and the Grenadines

The most important factor in determining your salary after the specific profession is the number of years experience you have. It stands to reason that more years of experience will result in a higher wage.

We have researched the average product development manager salary based on years of experience to give you an idea of how the average changes once you've worked for a certain amount of time.

  • 0 - 2 Years Experience. A Product Development Manager in Saint Vincent and the Grenadines that has less than two years of experience can expect to earn somewhere in the region of 34,280 XCD.
  • 2 - 5 Years Experience. With two to five years of experience the average Product Development Manager salary would increase to 46,980 XCD.
  • 5 - 10 Years Experience. From five to ten years of experience as a Product Development Manager, the average salary would be 63,700 XCD.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 73,800 XCD.
  • 15 - 20 Years Experience. A Product Development Manager with 15 to 20 years of experience can earn an average of 80,480 XCD.
  • 20+ Years Experience. For a Product Development Manager with more than 20 years, the expected average salary increases to 84,560 XCD.

Average Salary by Experience Chart

0-2 Years
34,280 XCD
2-5 Years +32%
46,980 XCD
5-10 Years +34%
63,700 XCD
10-15 Years +19%
73,800 XCD
15-20 Years +8%
80,480 XCD
20+ Years +7%
84,560 XCD

Product Development Manager Salary by Education Level in Saint Vincent and the Grenadines

As well as experience in a job, your education plays a big role in how much you can earn. A lot of higher paying positions require a high level of education, but how much can a degree increase your salary?

In our research we have compared the salaries of employees in the same job and career level with different levels of education to see how much more you can earn at each education level.

The salary you can earn based on your education is very specific to both your location and the career path you choose.

In our research, we looked at the average salary for a Product Development Manager in Saint Vincent and the Grenadines based on the education level of the employees in order to find out whether a better education level would increase your salary.

  • High School. A Product Development Manager in Saint Vincent and the Grenadines with a high school education can earn an average salary of 45,560 XCD.

  • Certificate or Diploma. A Product Development Manager in Saint Vincent and the Grenadines with a certificate or diploma education can earn an average salary of 49,200 XCD.

  • Bachelor's Degree. A Product Development Manager in Saint Vincent and the Grenadines with a bachelor's degree education can earn an average salary of 68,580 XCD.

  • Master's Degree. A Product Development Manager in Saint Vincent and the Grenadines with a master's degree education can earn an average salary of 84,560 XCD.

Average Salary by Education Chart

High School
45,560 XCD
Certificate or Diploma +14%
49,200 XCD
Bachelor's Degree +36%
68,580 XCD
Master's Degree +26%
84,560 XCD

How Much is a Master's Degree or MBA Program?

The approximate cost of a master's degree or post-graduate program like an MBA in Saint Vincent and the Grenadines is around 17,000 to 50,900 XCD and takes two years to complete.

As you can see above, there are financial benefits from reaching master's degree level, but don't expect to see much of a salary increase until you have completed the degree.

It's common for people to pursue an MBA or other post-graduate program in order to switch to a a job that pays more. On average, you can expect to earn around 10% more when switching to a new company.

Whether you decide to pursue a master's degree depends on many factors. If you are able to afford it, the numbers suggest that the return on investment is worth it and you could recover the costs in a few years from the salary increase you would receive.

Product Development Manager Salary Compared by Gender

In the modern age, we know that there should never be a pay gap between men and women. Unfortunately, in many professions, there is still a significant difference between the salaries earned by men when compared to the salary of women in the same job.

In Saint Vincent and the Grenadines, a male product development manager will earn an average of 59,660 XCD, while a female product development manager will earn around 56,460 XCD.

This means that a male product development manager earns approximately 6% more than a female product development manager for performing the same job.

Average Salary by Gender Chart in Saint Vincent and the Grenadines

Male
59,660 XCD
Female -6%
56,460 XCD

Product Development Manager Average Pay Raise in Saint Vincent and the Grenadines

In many countries, an annual pay raise is often given to employees to reward their service with a salary increase.

From our research, we can see that the average pay raise for a Product Development Manager in Saint Vincent and the Grenadines is around 9% every 28 months.

The national average pay raise across all professions and industries in Saint Vincent and the Grenadines is around 4% every 29 months.

In this case, we can see that the number of months between the average pay raise is higher than the typical 12 months.

To make the data more meaningful, we can calculate what the approximate annual pay raise would be using a simple formula:

Annual Increase = ( Increase Rate ÷ Months ) × 12

So for this example, it would be:

Annual Increase = ( 9 ÷ 28 ) × 12  = 4%

What this means is that a Product Development Manager in Saint Vincent and the Grenadines can expect to receive an average pay raise of around 4% every 12 months.

Annual Pay Raise by Industry in Saint Vincent and the Grenadines for 2024

In the chart below, you can see the average annual pay raise percentages for each of the major industries in Saint Vincent and the Grenadines.

You will see that companies in bigger and more lucrative industries tend to have the higher annual pay raises.

Banking
7%
Energy
5%
Information Technology
3%
Healthcare
1%
Travel
8%
Construction
6%
Education
4%

Product Development Manager Bonus and Incentive Rates in Saint Vincent and the Grenadines

Another part of your overall compensation in a job is how much bonus you receive. Some job roles will be more likely to pay a bonus than others and also more likely to have higher bonus rates.

Generally speaking, jobs that are more involved with direct revenue generation will receive higher bonuses based on the performance towards revenue goals.

A Product Development Manager is a moderate bonus based job, with 63% of employees reporting at least one bonus in the last 12 months.

37% reported that they had not received any bonuses in the previous 12 months.

For the employees that did receive a bonus in the previous 12 months, the reported bonuses ranged from 5% to 8%.

Received Bonus
63%
No Bonus
37%

What are the Types of Bonus?

There are a number of difference types of bonus you can receive in a job. Including:

  • Individual performance bonus - This is a bonus that is awarded to an individual employee for general performance in the job. It's the most common type of bonus.
  • Company performance bonus - This is a bonus that is awarded to a company employees to share profit with the staff.
  • Goal based bonus - This is a bonus that is awarded to an individual employee (or a team) for achieving specific goals, objectives, or milestones.
  • Holiday bonus - This type of bonus is usually paid around the holidays, often the end of the year, and is a token of appreciation for the hard work throughout the year.

Government vs Private Sector Salaries

Another commonly asked question is whether you get paid a higher salary working in the public (government) sector or the private sector.

Public sector employees in Saint Vincent and the Grenadines earn approximately 19% more than private sector employees in the same role.

Public Sector
45,060 XCD
Private Sector -19%
37,880 XCD

Salaries for Jobs Similar to a Product Development Manager

In the table below, we have salary information for jobs that are similar to a Product Development Manager in Saint Vincent and the Grenadines.

Job Title Category Salary
Account Coordinator Executive and Management 37,740 XCD
Account Director Executive and Management 46,160 XCD
Account Executive Executive and Management 43,520 XCD
Account Manager Executive and Management 43,220 XCD
Administration Manager Executive and Management 43,520 XCD
Administration Officer Executive and Management 22,660 XCD
Administration Supervisor Executive and Management 35,340 XCD
Administrative Clerk Executive and Management 16,340 XCD
Administrative Officer Executive and Management 16,720 XCD
Area Director Executive and Management 41,900 XCD
Area Manager Executive and Management 40,420 XCD
Asset Protection Associate Executive and Management 50,020 XCD
Assistant Director Executive and Management 45,560 XCD
Assistant General Manager Executive and Management 48,560 XCD
Assistant Manager Executive and Management 48,160 XCD
Assistant Managing Director Executive and Management 52,540 XCD
Assistant Operations Manager Executive and Management 50,080 XCD
Assistant Project Manager Executive and Management 46,160 XCD
Assistant Section Head Executive and Management 36,700 XCD
Assistant to CEO Executive and Management 38,780 XCD
Assistant Vice President Executive and Management 47,580 XCD
Associate Account Director Executive and Management 47,120 XCD
Associate Director Executive and Management 46,880 XCD
Bid Manager Executive and Management 49,560 XCD
Branch Manager Executive and Management 50,540 XCD
Business Development Manager Executive and Management 58,240 XCD
Business Operations Associate Executive and Management 45,600 XCD
Business Operations Lead Executive and Management 49,360 XCD
Campaign Manager Executive and Management 48,740 XCD
Catering Coordinator Executive and Management 27,020 XCD
Catering Manager Executive and Management 45,060 XCD
CEO Executive and Management 83,100 XCD
Chairman of The Board Executive and Management 82,160 XCD
Chairman Office Manager Executive and Management 60,480 XCD
Chief Commercial Officer Executive and Management 58,800 XCD
Chief Corporate Officer Executive and Management 74,540 XCD
Chief Executive Officer Executive and Management 92,300 XCD
Chief Financial Officer Executive and Management 80,640 XCD
Chief Investment Officer Executive and Management 63,380 XCD
Chief of Staff Executive and Management 40,040 XCD
Chief Operating Officer Executive and Management 66,680 XCD
Chief Risk Officer Executive and Management 54,700 XCD
Client Account Manager Executive and Management 50,340 XCD
Client Accounts Officer Executive and Management 47,760 XCD
Client Services Manager Executive and Management 53,160 XCD
Commercial Director Executive and Management 56,640 XCD
Commercial Manager Executive and Management 50,660 XCD
Commercial Project Manager Executive and Management 47,580 XCD
Commodity Broker Executive and Management 39,160 XCD
COO Executive and Management 64,040 XCD
Corporate Affairs Executive Executive and Management 51,800 XCD
Corporate Compliance Director Executive and Management 56,460 XCD
Corporate Director Executive and Management 57,820 XCD
Corporate Officer Executive and Management 38,780 XCD
Corporate Partnerships Officer Executive and Management 43,360 XCD
Country Manager Executive and Management 64,920 XCD
Department Head Executive and Management 54,500 XCD
Department Manager Executive and Management 56,100 XCD
Department Supervisor Executive and Management 48,140 XCD
Deputy Director Executive and Management 60,020 XCD
Deputy Manager Executive and Management 64,560 XCD
Director Executive and Management 65,080 XCD
Director of Accreditation Executive and Management 54,560 XCD
Director of Catering Services Executive and Management 48,300 XCD
Director of Client Services Executive and Management 52,300 XCD
Director of Facilities Management Executive and Management 48,300 XCD
Director of Operations Executive and Management 57,440 XCD
Director of Process Simplification Executive and Management 46,840 XCD
Director of Product Management Executive and Management 58,280 XCD
Director of Project Management Executive and Management 61,780 XCD
Director of Revenue Management Executive and Management 54,560 XCD
Director of Training and Development Executive and Management 57,080 XCD
Distribution Manager Executive and Management 58,720 XCD
Division Manager Executive and Management 50,180 XCD
Duty Manager Executive and Management 50,560 XCD
Engagement Manager Executive and Management 63,700 XCD
Executive Director Executive and Management 84,740 XCD
Executive Manager Executive and Management 69,240 XCD
Franchise Manager Executive and Management 72,420 XCD
General Manager Executive and Management 66,100 XCD
Global Master Data Manager Executive and Management 62,420 XCD
Global Technical Lead Executive and Management 37,880 XCD
Head of Investment Executive and Management 57,820 XCD
Head of Middle Office Executive and Management 51,900 XCD
Head of Projects Executive and Management 61,460 XCD
Head of Strategy Executive and Management 64,920 XCD
Head of Supply Chain Executive and Management 52,380 XCD
Head of Sustainability Executive and Management 48,160 XCD
Housing Manager Executive and Management 46,400 XCD
HSE Manager Executive and Management 48,760 XCD
Key Account Manager Executive and Management 48,940 XCD
Knowledge Manager Executive and Management 57,360 XCD
Location Manager Executive and Management 55,820 XCD
Logistics Executive Executive and Management 46,720 XCD
Logistics Manager Executive and Management 44,800 XCD
Management Consultant Executive and Management 44,540 XCD
Management Executive Executive and Management 61,840 XCD
Manager Executive and Management 59,380 XCD
Managing Director Executive and Management 67,020 XCD
MIS Executive Executive and Management 58,440 XCD
Ocean Services Manager Executive and Management 57,820 XCD
Operational Manager Executive and Management 57,820 XCD
Operations Analyst Executive and Management 51,900 XCD
Operations Assistant Executive and Management 44,800 XCD
Operations Director Executive and Management 68,580 XCD
Operations Executive Executive and Management 64,300 XCD
Operations Manager Executive and Management 61,760 XCD
Operations Supervisor Executive and Management 53,160 XCD
Planning Director Executive and Management 66,000 XCD
PMO Manager Executive and Management 54,280 XCD
Policy Administration Executive Executive and Management 48,940 XCD
Private Sector Executive Executive and Management 49,560 XCD
Product Executive Executive and Management 53,860 XCD
Production Executive Executive and Management 60,180 XCD
Production Manager Executive and Management 57,320 XCD
Production Supervisor Executive and Management 48,300 XCD
Program Director Executive and Management 59,940 XCD
Program Manager Executive and Management 61,580 XCD
Programme Coordinator Executive and Management 40,600 XCD
Project Control Manager Executive and Management 60,400 XCD
Project Coordinator Executive and Management 35,260 XCD
Project Management Officer Executive and Management 43,340 XCD
Project Manager Executive and Management 45,600 XCD
Project Portfolio Manager Executive and Management 48,160 XCD
Quality Manager Executive and Management 45,260 XCD
R/D Director Executive and Management 50,340 XCD
Regional Director Executive and Management 80,920 XCD
Regional Manager Executive and Management 62,420 XCD
Relationship Manager Executive and Management 58,200 XCD
Retail District Manager Executive and Management 42,460 XCD
Revenue Manager Executive and Management 46,280 XCD
Risk and Capital Manager Executive and Management 65,080 XCD
Risk Officer Executive and Management 43,520 XCD
Safety Manager Executive and Management 45,600 XCD
Section Head Executive and Management 43,260 XCD
Service Manager Executive and Management 48,920 XCD
Shift Supervisor Executive and Management 38,260 XCD
Solutions Manager Executive and Management 43,340 XCD
Supervisor Executive and Management 34,960 XCD
Supply Chain Manager Executive and Management 64,180 XCD
Surveyor Executive and Management 39,800 XCD
Technical Director Executive and Management 54,140 XCD
Technical Manager Executive and Management 59,000 XCD
Territory Manager Executive and Management 58,000 XCD
Validation Manager Executive and Management 52,540 XCD
Vice President Executive and Management 73,120 XCD
Zone Manager Executive and Management 63,500 XCD

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