Product Development Engineer Average Salary in Colombo 2024
How much money does a person working as Product Development Engineer make in Colombo?
LOW
43,000
LKR AVERAGE
93,500
LKR HIGH
149,000
LKR
A person working as Product Development Engineer in Colombo typically earns around 93,500 LKR. Salaries range from 43,000 LKR (lowest) to 149,000 LKR (highest).
Salary Variance
This is the average salary including housing, transport, and other benefits. Product Development Engineer salaries in Colombo vary drastically based on experience, skills, gender, or location. Below you will find a detailed breakdown based on many different criteria.
Product Development Engineer Pay Scale and Salaries in Colombo
Salary Structure and Pay Scale Comparison
88,700 LKR or more
77,700 to 88,700 LKR
53,500 LKR or less
53,500 to 77,700 LKR
 43,000 LKR |
89,300 LKR |
149,000 LKR |
Median Salary, maximum and minimum salary, minimum wage, starting salary, and the salary range
Salary Range, Minimum Wage, and Starting Salary
Salaries for the position Product Development Engineer in Colombo range from 43,000 LKR (starting salary) to 149,000 LKR (maximum salary). It should be noted that the given figure is not the legally mandated minimum wage; rather, it represents the lowest figure reported in a salary survey that included thousands of participants and professionals from all regions of the country.
Median Salary
With a median salary of 89,300 LKR, half of the professionals who work as Product Development Engineer in Colombo earn less than this amount, and the other half earn more. The median salary denotes the middle value of salaries. Ideally, you would want to belong to the group earning more than the median salary, located on the right side of the salary distribution graph.
Percentiles and Salary Scale
The median is closely associated with two other values known as the 25th and 75th percentiles. By examining the salary distribution chart, it can be determined that 25% of professionals employed as Product Development Engineer in Colombo earn less than 72,000 LKR, while 75% earn more. Similarly, the chart shows that 75% earn less than 103,000 LKR while 25% earn more.
Pay Scale Structure
To provide a better understanding of expected salaries, we categorized the frequently occurring salaries into different ranges. This approach provides a more precise representation of salary distribution for the job title Product Development Engineer in Colombo compared to simply calculating the average. The majority of reported salaries, approximately 65%, fall within the range of 53,500 LKR to 77,700 LKR. About 20% of salaries are below the 53,500 LKR mark, while 10% fall within the range of 77,700 LKR to 88,700 LKR. Only 5% of individuals have salaries exceeding 88,700 LKR.
Salary Comparison by Years of Experience / Product Development Engineer / Colombo
How do experience and age affect pay?
| 0 - 2 Years | 48,800 LKR | |
| 2 - 5 Years | +34% | 65,200 LKR |
| 5 - 10 Years | +48% | 96,300 LKR |
| 10 - 15 Years | +22% | 117,000 LKR |
| 15 - 20 Years | +9% | 128,000 LKR |
| 20+ Years | +8% | 139,000 LKR |
The experience level is the most important factor in determining the salary. Naturally, the more years of experience the higher the wage. We broke down salaries by experience level for people working as Product Development Engineer and this is what we found.
Employees with less than two years of experience earn approximately 48,800 LKR.
While someone with an experience level between two and five years is expected to earn 65,200 LKR, 34% more than someone with less than two year's experience.
Moving forward, an experience level between five and ten years lands a salary of 96,300 LKR, 48% more than someone with two to five years of experience.
Additionally, professionals whose expertise span anywhere between ten and fifteen years get a salary equivalent to 117,000 LKR, 22% more than someone with five to ten years of experience.
If the experience level is between fifteen and twenty years, then the expected wage is 128,000 LKR, 9% more than someone with ten to fifteen years of experience.
Lastly, employees with more than twenty years of professional experience get a salary of 139,000 LKR, 8% more than people with fifteen to twenty years of experience.
Typical Salary Progress for Most Careers
Salary Comparison By Education / Product Development Engineer / Colombo
How do education levels affect salaries?
Displayed below is the average salary variance between different education levels of professionals working as Product Development Engineer.
| Bachelor's Degree | 56,700 LKR | |
| Master's Degree | +93% | 110,000 LKR |
We all know that higher education equals a bigger salary, but how much more money can a degree add to your income? We broke down salaries by education level for the position Product Development Engineer in order to make a comparison.
Level 1: Bachelor's Degree
Employees at this education level have an average salary of 56,700 LKR.
Level 2: Master's Degree
At this level, the average salary becomes 110,000 LKR, 93% more than the previous level.
Is a Master's degree or an MBA worth it? Should you pursue higher education?
A Master's degree program or any post-graduate program in Sri Lanka costs anywhere from 450,000 LKR to 1,350,000 LKR and lasts approximately two years. That is quite an investment.
You can't really expect any salary increases during the study period, assuming you already have a job. In most cases, a salary review is conducted once education is completed and the degree has been attained.
Many people pursue higher education as a tactic to switch to a higher-paying job. The numbers seem to support the theory. The average increase in compensation while changing jobs is approximately 10% more than the customary salary increment.
If you can afford the costs of higher education, the return on investment is definitely worth it. You should be able to recover the costs in roughly a year or so.
Typical Salary Difference by Education for Most Careers
Salary and Compensation Comparison By Gender / Product Development Engineer / Colombo
Though gender should not have an effect on pay, in reality, it does. So who gets paid more: men or women? For the people who work as Product Development Engineer in Sri Lanka, the average difference between the salary of male and female employees is 10%.
| Male | 88,800 LKR | |
| Female | -9% | 80,600 LKR |
Salary Comparison By Gender in Sri Lanka for all Careers
Average Annual Salary Increment Percentage / Product Development Engineer / Colombo
How much are annual salary increments in Colombo for individuals working as Product Development Engineer? How often do employees get salary raises?
Individuals working as Product Development Engineer in Sri Lanka are likely to observe a salary increase of approximately % every months. The national average annual increment for all professions combined is 9% granted to employees every 17 months.
Sri Lanka / All Professions
The term Annual Salary Increase usually refers to the increase in 12 calendar month period, but because it is rare that people get their salaries reviewed exactly on the one-year mark, it is more meaningful to know the frequency and the rate at the time of the increase.
How to calculate the salary increment percentage?
The annual salary Increase in a calendar year (12 months) can be easily calculated as follows: Annual Salary Increase = Increase Rate x 12 / Increase Frequency
Worldwide Salary Raises: All Countries and All Jobs
Salary Packages and Schemes
Not all compensation increases are reflected directly in the salary. Some companies offer upgraded packages to their staff instead of cash money. The figures displayed here account only for direct increments to the base salary.
Bonus and Incentive Rates / Product Development Engineer / Sri Lanka
How much and how often are bonuses being awarded?
Share This Chart Tweet Get Chart Linkhttp://www.salaryexplorer.com/charts/sri-lanka/engineering/product-development-engineer/annual-salary-bonus-rate-sri-lanka-product-development-engineer.jpg
100% of surveyed staff reported that they haven't received any bonuses or incentives in the previous year while % said that they received at least one form of monetary bonus.
Those who got bonuses reported rates ranging from % to % of their annual salary.
| Received Bonus | % | |
| No Bonus | 100% |
Types of Bonuses Considered
Individual Performance-Based BonusesThe most standard form of bonus, where the employee is awarded based on their exceptional performance.
Company Performance BonusesOccasionally, some companies like to celebrate excess earnings and profits with their staff collectively in the form of bonuses that are granted to everyone. The amount of the bonus will probably be different from person to person depending on their role within the organization.
Goal-Based BonusesGranted upon achieving an important goal or milestone.
Holiday / End of Year BonusesThese types of bonuses are given without a reason and usually resemble an appreciation token.
Bonuses Are Not Commissions!
People tend to confuse bonuses with commissions. A commission is a prefixed rate at which someone gets paid for items sold or deals completed while a bonus is in most cases arbitrary and unplanned.
What makes a position worthy of good bonuses and a high salary?
The main two types of jobs | |
| Revenue Generators | Supporting Cast |
Employees that are directly involved in generating revenue or profit for the organization. Their field of expertise usually matches the type of business. | Employees that support and facilitate the work of revenue generators. Their expertise is usually different from that of the core business operations. |
Example: | Example: |
Revenue generators usually get more and higher bonuses, higher salaries, and more frequent salary increments. The reason is quite simple: it is easier to quantify your value to the company in monetary terms when you participate in revenue generation.
Bonus Comparison by Seniority Level
Top management personnel and senior employees naturally exhibit higher bonus rates and frequencies than juniors. This is very predictable due to the inherent responsibilities of being higher in the hierarchy. People in top positions can easily get double or triple bonus rates than employees down the pyramid.
Average Hourly Wage / Product Development Engineer / Colombo
540 LKR per hourThe average hourly wage (pay per hour) for individuals working as Product Development Engineer in Colombo is 540 LKR.This is the rate they get paid for every worked hour.
About The Hourly Pay Rate
The hourly wage is the salary paid in one worked hour. Usually, jobs are classified into two categories: salaried jobs and hourly jobs. Salaried jobs pay a fixed amount regardless of the hours worked. Hourly jobs pay per worked hour. To convert salary into hourly wage the above formula is used (assuming 5 working days in a week and 8 working hours per day which is the standard for most jobs). The hourly wage calculation may differ slightly depending on the worked hours per week and the annual vacation allowance. The figures mentioned above are good approximations and are considered to be the standard. One major difference between salaried employees and hourly paid employees is overtime eligibility. Salaried employees are usually exempt from overtime as opposed to hourly paid staff.
What is the minimum hourly rate of pay?
The minimum pay rate per hour for people working as Product Development Engineer in Colombo is 250 LKR. This is the minimum as per the gathered data in the salary survey not the minimum hourly rate mandated by law.
Salary comparison with similar jobs
| Job Title | Average Salary |
| Engineering |  -100% | |
| 3D Printing Engineer | 82,200 LKR | -12% |
| Acoustics Engineer | 86,400 LKR | -8% |
| Assembly Engineering Technician | 72,200 LKR | -23% |
| Assistant Chief Engineer | 102,000 LKR |  +9% |
| Associate Engineer | 79,700 LKR | -15% |
| AutoCAD Drafter | 54,100 LKR | -42% |
| Autocad Operator | 58,700 LKR | -37% |
| Automation Engineer | 96,100 LKR | +3% |
| Avionic System Support Engineer | 89,000 LKR | -5% |
| Biochemical Engineer | 87,800 LKR | -6% |
| BMS Engineer | 85,000 LKR | -9% |
| Bridge and Lock Tender | 51,500 LKR | -45% |
| Broadcast Engineer | 88,200 LKR | -6% |
| CAD Design Engineer | 95,800 LKR | +2% |
| CAD Designer | 56,800 LKR | -39% |
| CAE Engineer | 89,800 LKR | -4% |
| Ceramics Engineer | 81,900 LKR | -12% |
| Chemical Engineer | 91,800 LKR | -2% |
| Civil Drafter | 55,800 LKR | -40% |
| Civil Engineer | 90,400 LKR | -3% |
| Civil Site Engineer | 91,200 LKR | -2% |
| Civil Technician | 58,100 LKR | -38% |
| Cognitive Engineer | 83,300 LKR | -11% |
| Commissioning Engineer | 89,500 LKR | -4% |
| Communications Engineer | 95,100 LKR | +2% |
| Condition Monitoring Engineer | 79,200 LKR | -15% |
| Contract Associate Engineer | 89,400 LKR | -4% |
| Contract Engineer | 87,400 LKR | -7% |
| Control Systems Engineer | 87,900 LKR | -6% |
| Controls Engineer | 86,500 LKR | -7% |
| Controls Software Engineer | 77,000 LKR | -18% |
| Corrosion Engineer | 85,700 LKR | -8% |
| Design Engineer | 96,800 LKR | +4% |
| Director of Engineering | 179,000 LKR | +91% |
| Drafter | 59,300 LKR | -37% |
| Drafting Manager | 107,000 LKR | +14% |
| Drilling Engineer | 90,000 LKR | -4% |
| Drilling Foreman | 29,100 LKR | -69% |
| Electrical Draughtsman | 45,300 LKR | -52% |
| Electrical Engineer | 99,400 LKR | +6% |
| Electrical Engineering Manager | 127,000 LKR | +36% |
| Electromechanical Engineering Technologist | 99,700 LKR | +7% |
| Electromechanical Equipment Assembler | 47,600 LKR | -49% |
| Energy Engineer | 100,000 LKR | +7% |
| Engine Assembler | 40,700 LKR | -56% |
| Engineer | 101,000 LKR | +8% |
| Engineering Account Manager | 104,000 LKR | +11% |
| Engineering Chief Designer | 101,000 LKR | +8% |
| Engineering Consultant | 117,000 LKR | +25% |
| Engineering Key Account Manager | 133,000 LKR | +42% |
| Engineering Lab Technician | 86,600 LKR | -7% |
| Engineering Manager | 129,000 LKR | +38% |
| Engineering Planning Manager | 128,000 LKR | +37% |
| Engineering Production Manager | 166,000 LKR | +78% |
| Engineering Project Analyst | 110,000 LKR | +18% |
| Engineering Project Coordinator | 110,000 LKR | +18% |
| Engineering Project Director | 176,000 LKR | +88% |
| Engineering Project Leader | 119,000 LKR | +27% |
| Engineering Project Manager | 126,000 LKR | +35% |
| Engineering Research and Development Manager | 146,000 LKR | +56% |
| Engineering Safety Coordinator | 74,100 LKR | -21% |
| Engineering Sales Manager | 128,000 LKR | +37% |
| Engineering Technician | 69,800 LKR | -25% |
| Engineering Technologist | 69,000 LKR | -26% |
| Environmental Engineer | 91,500 LKR | -2% |
| Equipment Engineer | 83,200 LKR | -11% |
| Equipment Engineering Manager | 117,000 LKR | +25% |
| Estimator | 80,900 LKR | -13% |
| Fabrication Specialist | 64,600 LKR | -31% |
| Fabricator | 40,600 LKR | -57% |
| Facade Engineer | 90,900 LKR | -3% |
| Fiber Analyst | 53,600 LKR | -43% |
| Field Engineer | 90,400 LKR | -3% |
| Field Engineering Manager | 159,000 LKR | +70% |
| Fire Engineer | 87,500 LKR | -6% |
| Fitter and Turner | 30,200 LKR | -68% |
| Forestry Strategic Planner | 108,000 LKR | +16% |
| Generation Engineer | 96,300 LKR | +3% |
| Genetic Engineer | 99,800 LKR | +7% |
| Geological Engineer | 91,300 LKR | -2% |
| Geotechnical Engineer | 97,900 LKR | +5% |
| Heavy Equipment Mechanic | 49,100 LKR | -47% |
| Highway Engineer | 89,600 LKR | -4% |
| HSE Professional | 85,600 LKR | -8% |
| Human Machine Interface Engineer | 79,300 LKR | -15% |
| HVAC Engineer | 93,400 LKR | -0% |
| HVAC Supervisor | 81,600 LKR | -13% |
| Industrial Engineer | 91,300 LKR | -2% |
| Industrial Engineering Technologist | 91,700 LKR | -2% |
| Instrument Engineer | 90,100 LKR | -4% |
| Instrument Technician | 50,000 LKR | -47% |
| Instrumentation and Control Engineer | 87,800 LKR | -6% |
| Instrumentation Designer | 73,300 LKR | -22% |
| Instrumentation Engineer | 89,400 LKR | -4% |
| Instrumentation Manager | 92,700 LKR | -1% |
| Irrigation Engineer | 90,100 LKR | -4% |
| Licensed Aircraft Engineer | 102,000 LKR | +9% |
| Locomotive Engineer | 84,700 LKR | -9% |
| Maintenance Engineer | 85,000 LKR | -9% |
| Maintenance Fitter | 33,300 LKR | -64% |
| Maintenance Manager | 92,900 LKR | -1% |
| Manufacturing Engineer | 85,200 LKR | -9% |
| Marine Engineer | 96,000 LKR | +3% |
| Materials Engineer | 91,600 LKR | -2% |
| Materials Researcher | 82,500 LKR | -12% |
| Materials Technician | 63,200 LKR | -32% |
| Mechanical and Electrical Engineer | 93,600 LKR | +0% |
| Mechanical Design Engineer | 101,000 LKR | +8% |
| Mechanical Designer | 80,300 LKR | -14% |
| Mechanical Engineer | 97,200 LKR | +4% |
| Mechanical Engineering Manager | 125,000 LKR | +34% |
| Mechanical Inspector | 83,500 LKR | -11% |
| Mechatronics Engineer | 99,700 LKR | +7% |
| Mining Engineer | 88,600 LKR | -5% |
| Nanotechnology Engineer | 98,300 LKR | +5% |
| Natural Language Processing Engineer | 97,400 LKR | +4% |
| Oil and Petrochemical Engineer | 103,000 LKR | +10% |
| Optical Engineer | 87,300 LKR | -7% |
| Optical Instrument Assembler | 44,500 LKR | -52% |
| PCB Assembler | 34,300 LKR | -63% |
| Photonics Engineer | 105,000 LKR | +12% |
| Photonics Technician | 83,700 LKR | -10% |
| Pipeline Engineer | 80,400 LKR | -14% |
| Piping Designer | 51,400 LKR | -45% |
| Piping Engineer | 84,900 LKR | -9% |
| Planning Engineer | 90,200 LKR | -4% |
| Pressure Vessel Inspector | 42,300 LKR | -55% |
| Principal Cost Engineer | 93,200 LKR | -0% |
| Principal Engineer | 92,400 LKR | -1% |
| Principal Support Engineer | 90,300 LKR | -3% |
| Process Engineer | 91,000 LKR | -3% |
| Process Operator | 56,100 LKR | -40% |
| Product Development Engineer | 93,500 LKR | +0% |
| Product Development Technician | 66,800 LKR | -29% |
| Product Engineer | 91,300 LKR | -2% |
| Product Safety Engineer | 86,000 LKR | -8% |
| Production Engineer | 88,700 LKR | -5% |
| Project Engineer | 100,000 LKR | +7% |
| Proposal Manager | 118,000 LKR | +26% |
| Purchasing Engineer | 82,300 LKR | -12% |
| Quality Assurance Engineer | 91,700 LKR | -2% |
| Rail Engineer | 91,200 LKR | -2% |
| Regional Field Engineer | 98,200 LKR | +5% |
| Remote Sensing Engineer | 86,200 LKR | -8% |
| Robotics Engineer | 107,000 LKR | +14% |
| Robotics Technician | 75,900 LKR | -19% |
| Safety Engineer | 88,300 LKR | -6% |
| Safety Inspector | 71,600 LKR | -23% |
| Safety Manager | 111,000 LKR | +19% |
| Safety Officer | 47,700 LKR | -49% |
| Sales Engineer | 99,100 LKR | +6% |
| Scheduling Engineer | 86,700 LKR | -7% |
| Security Engineer | 101,000 LKR | +8% |
| Service Engineer | 91,600 LKR | -2% |
| Smart Home Engineer | 97,600 LKR | +4% |
| Solar Engineer | 98,600 LKR | +5% |
| Staff Engineer | 86,000 LKR | -8% |
| Static Equipment Engineer | 90,000 LKR | -4% |
| Stationary Engineer | 85,800 LKR | -8% |
| Stress Engineer | 87,500 LKR | -6% |
| Structural Analysis Engineer | 90,200 LKR | -4% |
| Structural Designer | 76,700 LKR | -18% |
| Structural Engineer | 88,200 LKR | -6% |
| Structural Technician | 56,400 LKR | -40% |
| Subsea Engineer | 112,000 LKR | +20% |
| Supply Chain Specialist | 91,100 LKR | -3% |
| Surveyor | 67,300 LKR | -28% |
| Technical Affairs Officer | 46,500 LKR | -50% |
| Technical Assistant | 48,000 LKR | -49% |
| Technical Engineer | 74,700 LKR | -20% |
| Technical Support Engineer | 79,200 LKR | -15% |
| Tender Engineer | 80,500 LKR | -14% |
| Test Development Engineer | 85,400 LKR | -9% |
| Test Engineer | 88,800 LKR | -5% |
| Transportation Engineer | 90,500 LKR | -3% |
| Urban Engineer | 89,700 LKR | -4% |
| Validation Engineer | 83,900 LKR | -10% |
| Verification Engineer | 84,700 LKR | -9% |
| Wastewater Engineer | 91,200 LKR | -2% |
| Wind Energy Engineer | 88,700 LKR | -5% |
| Wind Energy Operations Manager | 125,000 LKR | +34% |
| Wireless Engineer | 103,000 LKR | +10% |
| Work Planner | 66,000 LKR | -29% |
Salary Comparison By City
| City | Average Salary |
| Colombo | 93,500 LKR |
Government vs Private Sector Salary Comparison
Where can you get paid more, working in a private company or the government? The difference between the public or government sector salaries and the private sector salaries in Sri Lanka is 8% on average across all career fields.
| Private Sector | 86,300 LKR | |
| Public Sector | +8% | 92,900 LKR |
Salary Statistics and Calculation Guide
What is considered to be a good and competitive salary for the job title Product Development Engineer in Colombo?
A good and competitive compensation would range anywhere between 89,300 LKR and 103,000 LKR. This is a very rough estimate. Experience and education play a very huge part in the final earnings.
Gross Salary (before tax) and Net Salary (after tax)
All salary and compensation figures displayed here are gross salary figures, that is the salary before tax deductions. Because taxes may differ across sectors and locations, it is difficult to accurately calculate the net salary after tax for every career.
Base / Basic Salary
The base salary for a careers like Product Development Engineer in Colombo ranges from 43,000 LKR to 72,000 LKR. The base salary depends on many factors including experience and education. It is not easy to provide a figure with very little information, so take this range with a grain of salt.
What is the difference between the median and the average salary?
Both are indicators. If your salary is higher than both the average and the median then you are doing very well. If your salary is lower than both, then many people earn more than you and there is plenty of room for improvement. If your wage is between the average and the median, then things can be a bit complicated. We wrote a guide to explain all about the different scenarios. How to compare your salary
