New Product Development Manager Jobs in Illinois
New Product Development Manager jobs in Illinois are consistently active, with demand concentrated in the consumer packaged goods, manufacturing, medical devices, and food and beverage industries that anchor the state's economy. Chicago, Deerfield, and Peoria are the largest hiring metros, home to established employers like Abbott, Kraft Heinz, and Caterpillar that regularly bring on new product development managers across innovation, commercialization, and technical project leadership functions. The most in-demand specialties in Illinois are stage-gate process management, cross-functional team leadership, and regulated product development in healthcare and food manufacturing. Find a role that fits below and apply directly.
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Showing 4 of 6+ New Product Development Manager jobs
The Group : Morningstar Indexes is building the next generation of index products at the intersection of markets, quant research, data science, and AI. This is a hands-on builder role for someone who wants to move fast, experiment with new tools, turn bold ideas into scalable index solutions, and help redefine how investment products are researched, tested, and launched.
Responsibilities:
- Build and launch new benchmark, thematic, factor, strategic beta, and multi-asset indexes from concept to market in partnership with research, product, technology, operations, and commercial teams.
- Drive the full product innovation cycle—spot opportunities, explore data, test signals, run back-tests, shape methodology, solve implementation challenges, and get products launch-ready.
- Use quant techniques, machine learning, portfolio construction, risk analytics, and statistical testing to turn investment ideas into durable, rules-based index methodologies.
- Push the use of AI, coding assistants, and agentic workflows to automate research, speed up analysis, test methodology logic, and make product development smarter and faster. Bring builder energy to the team by creating tools, prototypes, dashboards, research insights, and client-ready stories that make complex quant and AI ideas easy to understand and exciting to use.
Requirements:
- 6+ years of experience in indexes, asset management, investment banking, fintech, systematic investing, quantitative research, or a related investment technology environment.
- Strong quant toolkit, including hands-on experience with investment analysis, factor research, portfolio construction, back-testing, risk analytics, or systematic strategy design.
- Comfortable writing code and working with data using Python, R, SQL, MATLAB, or similar tools to prototype ideas, analyze large datasets, and automate repeatable workflows.
- Excited by AI-first ways of working, with experience using tools such as Microsoft Copilot, GitHub Copilot, Claude Code, Gemini, ChatGPT, or similar platforms; exposure to AI agents, RAG, or workflow orchestration is a plus.
- Clear communicator who can translate complex quant, AI, and investment concepts into methodology documents, research notes, presentations, and compelling client-facing narratives.
- Experience developing and using optimized portfolio construction and risk modelling tools, factor investment strategies, private equity data, and index derivatives strategies is a strong plus. This position is based in our Chicago office.
Why this role is exciting: You will join a global indexes team with the freedom to build, experiment, and scale new ideas—using AI, quant research, and modern development tools to create products that can reach investors around the world.
This role does not qualify for immigration sponsorship. Morningstar will not be considering candidates that require immigration sponsorship now or in the future. This role is required to be in Chicago office four days a week.
Compensation and Benefits
At Morningstar we believe people are at their best when they are at their healthiest. That’s why we champion your wellness through a wide range of programs that support all stages of your personal and professional life. Here are some examples of the offerings we provide:
Financial Health
100% 401k match up to 6% of salary
Stock Ownership Potential
Company provided life insurance - 1x salary + commission
Physical Health
Comprehensive health benefits (medical/dental/vision) including potential premium discounts and company-provided HSA contributions (up to $500-$2,000 annually) for specific plans and coverages
Additional medical Wellness Incentives - up to $300-$600 annual
Company-provided long- and short-term disability insurance
Emotional Health
Trust-Based Time Off
6-week Paid Sabbatical Program
6-Week Paid Family Caregiving Leave
Competitive 8-24 Week Paid Parental Leave
Adoption Assistance
Leadership Coaching & Formal Mentorship Opportunities
Annual Flex Stipend - $1000 annually to cover personal education & well-being expenses
Tuition Reimbursement
Social Health
Charitable Matching Gifts program
Dollars for Doers volunteer program
Paid volunteering days
15+ Employee Resource & Affinity Groups
Total Cash Compensation Range
$147,550.00-226,233.33Inclusive of annual base salary and target incentive
Morningstar's hybrid work environment gives you the opportunity to collaborate in-person each week as we've found that we're at our best when we're purposely together on a regular basis. In most of our locations, our hybrid work model is four days in-office each week. A range of other benefits are also available to enhance flexibility as needs change. No matter where you are, you'll have tools and resources to engage meaningfully with your global colleagues.
001_MstarInc Morningstar Inc. Legal EntityThe Group : Morningstar Indexes is building the next generation of index products at the intersection of markets, quant research, data science, and AI. This is a hands-on builder role for someone who wants to move fast, experiment with new tools, turn bold ideas into scalable index solutions, and help redefine how investment products are researched, tested, and launched.
Responsibilities:
- Build and launch new benchmark, thematic, factor, strategic beta, and multi-asset indexes from concept to market in partnership with research, product, technology, operations, and commercial teams.
- Drive the full product innovation cycle—spot opportunities, explore data, test signals, run back-tests, shape methodology, solve implementation challenges, and get products launch-ready.
- Use quant techniques, machine learning, portfolio construction, risk analytics, and statistical testing to turn investment ideas into durable, rules-based index methodologies.
- Push the use of AI, coding assistants, and agentic workflows to automate research, speed up analysis, test methodology logic, and make product development smarter and faster. Bring builder energy to the team by creating tools, prototypes, dashboards, research insights, and client-ready stories that make complex quant and AI ideas easy to understand and exciting to use.
Requirements:
- 6+ years of experience in indexes, asset management, investment banking, fintech, systematic investing, quantitative research, or a related investment technology environment.
- Strong quant toolkit, including hands-on experience with investment analysis, factor research, portfolio construction, back-testing, risk analytics, or systematic strategy design.
- Comfortable writing code and working with data using Python, R, SQL, MATLAB, or similar tools to prototype ideas, analyze large datasets, and automate repeatable workflows.
- Excited by AI-first ways of working, with experience using tools such as Microsoft Copilot, GitHub Copilot, Claude Code, Gemini, ChatGPT, or similar platforms; exposure to AI agents, RAG, or workflow orchestration is a plus.
- Clear communicator who can translate complex quant, AI, and investment concepts into methodology documents, research notes, presentations, and compelling client-facing narratives.
- Experience developing and using optimized portfolio construction and risk modelling tools, factor investment strategies, private equity data, and index derivatives strategies is a strong plus. This position is based in our Chicago office.
Why this role is exciting: You will join a global indexes team with the freedom to build, experiment, and scale new ideas—using AI, quant research, and modern development tools to create products that can reach investors around the world.
This role does not qualify for immigration sponsorship. Morningstar will not be considering candidates that require immigration sponsorship now or in the future. This role is required to be in Chicago office four days a week.
Compensation and Benefits
At Morningstar we believe people are at their best when they are at their healthiest. That’s why we champion your wellness through a wide range of programs that support all stages of your personal and professional life. Here are some examples of the offerings we provide:
Financial Health
100% 401k match up to 6% of salary
Stock Ownership Potential
Company provided life insurance - 1x salary + commission
Physical Health
Comprehensive health benefits (medical/dental/vision) including potential premium discounts and company-provided HSA contributions (up to $500-$2,000 annually) for specific plans and coverages
Additional medical Wellness Incentives - up to $300-$600 annual
Company-provided long- and short-term disability insurance
Emotional Health
Trust-Based Time Off
6-week Paid Sabbatical Program
6-Week Paid Family Caregiving Leave
Competitive 8-24 Week Paid Parental Leave
Adoption Assistance
Leadership Coaching & Formal Mentorship Opportunities
Annual Flex Stipend - $1000 annually to cover personal education & well-being expenses
Tuition Reimbursement
Social Health
Charitable Matching Gifts program
Dollars for Doers volunteer program
Paid volunteering days
15+ Employee Resource & Affinity Groups
Total Cash Compensation Range
$147,550.00-226,233.33Inclusive of annual base salary and target incentive
Morningstar's hybrid work environment gives you the opportunity to collaborate in-person each week as we've found that we're at our best when we're purposely together on a regular basis. In most of our locations, our hybrid work model is four days in-office each week. A range of other benefits are also available to enhance flexibility as needs change. No matter where you are, you'll have tools and resources to engage meaningfully with your global colleagues.
001_MstarInc Morningstar Inc. Legal EntitySee All 6 New Product Development Manager Jobs in Illinois
Find roles in Illinois that match your experience and apply in just a few clicks.
Find JobsNew Product Development Manager Jobs by City in Illinois
Where Illinois roles are concentrated, by current openings.
New Product Development Manager Job Market in Illinois
A snapshot from current Illinois openings, updated as new roles post.
Who's Hiring
What Illinois Employers Look For
The qualifications that appear most often in new product development manager jobs across Illinois.
- Bachelor's degree in engineering, business, food science, or a related technical field
- Five or more years of product development or product management experience in a relevant industry
- Demonstrated experience leading cross-functional teams through a full product lifecycle
- Proficiency with stage-gate or agile product development frameworks and project management tools
- Experience working within regulated industries such as medical devices, food manufacturing, or pharmaceuticals
- Strong background in market research, consumer insights, and translating findings into product concepts
New Product Development Manager Jobs in Illinois: Frequently Asked Questions
How do you become a new product development manager in Illinois?
Most new product development manager roles in Illinois require a bachelor's degree in engineering, food science, business, or a related technical field, and several years of hands-on product development experience. Illinois does not require a state-issued license for this role, but employers in regulated sectors like medical devices expect familiarity with FDA processes, and food and beverage employers value certifications such as a Project Management Professional credential. Building experience in a specialist contributor role before moving into management is the standard Illinois path.
Which companies hire new product development managers in Illinois?
Employers hiring new product development managers in Illinois right now include Molex, Littelfuse, and Sumeru, based on current listings on Migrate Mate as of October 2026. Illinois's deep concentration of consumer goods, medical device, and industrial manufacturing headquarters means demand is spread across both large multinationals and mid-size regional producers.
Which Illinois cities have the most new product development manager jobs?
Chicago, Lisle, and Richmond have the most new product development manager openings in Illinois. Chicago and its northern suburbs, including Deerfield and Lake County, drive the highest volume thanks to the regional headquarters of major consumer goods and healthcare companies, while Peoria draws openings from Caterpillar and its extended manufacturing supply chain.
Are there remote new product development manager jobs in Illinois?
Yes, but they're less common than in purely desk-based fields because the role frequently requires lab access, factory floor coordination, and hands-on prototype review. About 100% of new product development manager openings tied to Illinois are remote or hybrid as of October 2026, with hybrid arrangements most typical at larger corporate headquarters. The strategic and commercial phases of the role, such as market analysis and business case development, are the parts most likely to be performed remotely.
How can I get hired as a new product development manager in Illinois with little or no experience?
The most realistic entry path is landing a specialist role first, such as product development engineer, R&D associate, or project coordinator, at an Illinois manufacturer or consumer goods company and building toward management from there. Large Illinois employers including Abbott and Kraft Heinz run rotational development programs and new-graduate hiring initiatives that place candidates in product-adjacent functions. Earning a Project Management Professional certification or completing coursework in stage-gate methodology strengthens a candidacy significantly before moving into a manager-level application.
Where can I find and apply to new product development manager jobs in Illinois?
You can find and apply to new product development manager jobs in Illinois on Migrate Mate, which lists current Illinois openings updated regularly. Find roles that match your experience and industry background and apply directly to the ones that fit.
See All 6 New Product Development Manager Jobs in Illinois
Find roles in Illinois that match your experience and apply in just a few clicks.
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