product manager salary guide

Learn more about the role including real reviews and ratings from current Product Managers, common tasks and duties, how much Product Managers earn in your state, the skills current Employers are looking for and common education and career pathways. About This Guide: Updated May 2020, salaries presented are averages, based on proprietary data. It is an important organizational role — especially in technology companies — that sets the strategy, roadmap, and feature definition for a product or product line. Researches and develops the roadmap for new products, features or enhancements and oversees the technology lifecycle. The yearly wage range for functions in the Technology, Media and Telecommunication sector is as such: Role Annual Base Salary ($'000) Minimum: Our 2019 salary guides contain the latest salary data to help you secure the right people and ensure high performers stay and continue to help drive business performance. The average total compensation for a Product Manager in New York is $144,293. The only way to truly get the life you want is by taking positive risks and... Those with an MBA degree tend to enjoy a higher pay scale than those who... Find out what you should earn with a customized salary estimate and How can I come up with new product ideas? The Michael Page Salary Benchmark is our annual salary guide developed as a reference for hiring managers and job seekers to make informed employment decisions in Australia. Project Management Institute: Although product management is different from project management, certification in specialized areas such as program management can be appealing to some employers. What is a typical product manager salary? The average salary for product managers in New Zealand is NZ$118,000. Atlanta: 1 percent below the national average, Dallas: 2 percent above the national average. © You, For Product Management £55K. Typically requires 4 -7 years of related experience. The national average salary for a Assistant Product Manager is $84,766 in United States. Typically requires 4 to 7 years of related experience. Salaries estimates are based on 836 salaries submitted anonymously to Glassdoor by Product Manager employees in Austin, TX. General Assembly: Dedicated to offering educational and professional connections, General Assembly offers both a 10-week, part-time course and an intensive, weeklong course in product management. Typically requires 2 -4 years of related experience. It’s one of the main considerations for people when it comes to accepting, staying or moving into a job, yet it’s also one of the most difficult things to talk about. Glassdoor recently called it one of the top 10 best jobs in America. Product manager: $109,000Three to five years as an associate product manager or related role (such as in engineering, sales, or product marketing manager) is generally enough experience to be considered for a product manager role. How do product managers build the right roadmap? Manages project budgets and prepares financial analysis reports for top management. Goals are generally communicated in "solution" or project goal terms. Capture feedback and create awesome plans. The guide benchmarks the salaries of various job functions across different sectors, including Finance & Accounting, Technology, as well as Marketing. Crowdsource ideas and prioritize the best ones. Develops requirements documents, functional specifications, and mock-ups to clearly illustrate product ideas and concepts. Some jobs, such as specialist health jobs, are not included. VP of product management: $181,000The VP of product management is almost always a member of the leadership team and owns the product vision for the company. In addition, they are responsible for mentoring and growing the product team. 1 to 3 years supervisory experience may be required. Average salary in Malaysia is MYR 104,426 (US$ 29,113). Industries Typically requires a bachelor's degree. Evaluates and resolves technical feasibility, design optimization, and production issues. Typically reports to top management. Typically requires a bachelor's degree. Work is generally independent and collaborative in nature. Develops new software product concepts, designs, and/or enhancements to existing product design, that reflect market and user requirements. How do product managers build a roadmap for a new product? What is the role of a product manager in SAFe®? 3 Adecco Singapore Salary Guide 2017/2018 “There’s never been a better time to be a worker with special skills or the right education, because these people can use technology to create and capture value. The range for our most popular Product Manager positions (listed below) typically falls between $60,634 and $185,886. A specialist on complex technical and business matters. Jobs Contributes to moderately complex aspects of a project. Job. Along with relevant internships or co-op placements, a concentration in business or technology can help edge out other candidates. Manages subordinate staff in the day-to-day performance of their jobs. Manages assigned retail banking products. Add … Beyond a relevant degree and some work experience, product managers can build out competitive skills by obtaining professional certifications and periodically enrolling in continuing education courses. No matter what industry you are in, seniority is the main driver of salary ranges. The median represents the middle salary value. What is the difference: Wireframe vs. Mockup vs. Prototype? Work is generally independent and collaborative in nature. negotiate with confidence. Connect with us, get inspired, and receive the help you need. So, the associate product manager definition and the role is an extension of the product manager’s and similar to a product manager, an associate product manager is a professional in charge of evaluating and making recommendations on all aspects of a company’s … Introduction to product development methodologies. Ensures that product delivery schedules and tasks related to all aspects of product development are coordinated with stakeholders to successfully release new products on time and within budget. The average cost of living in Australia tends to be higher than the rest of the world. Use this tool to learn more about how your field is changing and what that means for your career. Countries with the highest general salaries in Europe are Denmark, Luxembourg, Sweden, Finland, and Ireland. True first level manager. Companies Typically reports to a manager or head of a unit/department. The average additional cash compensation for a Product Manager in New York is $16,178. Employers, Survey helps companies build products customers love and be happy doing it. Typically requires 5 years experience in the related area as an individual contributor. Filter by location to see Assistant Product Manager salaries in your area. Participates in all phases of the product development lifecycle, including analysis, design, testing, and integration of products as well as the introduction of products to the market. Catalog, Find a Has full authority for personnel actions. Has full authority for personnel actions. Analyzes brand performance, brand competitiveness, and product trends in the marketplace and develops strategies for assigned brand based on research and analysis. Develops business plan for products and participates in all phases of the product development lifecycle, including analysis, design, testing, and integration of products as well as the introduction of products to the market. The director of product management leads a team of product managers, and in smaller companies, they can take a place on the overall leadership team. What are some examples of a business model? Conducts research and develops a good understanding of the customer's needs, new technologies, trends in the market, and competitors. Chicago: 23 percent above national average, Denver: 12 percent above national average, Minneapolis: 5 percent above national average. Explore design salaries. Typically reports to top management. Develops business plan for products and participates in all phases of the product development lifecycle, including analysis, design, testing, and integration of products as well as the introduction of products to the market. However, salaries are highest in major metros on the East and West Coasts. May participate in the creation of documentation or user guides for new products. Requires a bachelor's degree. And that experience will likely come with a salary increase as well. Conducts research and develops a good understanding of the customer's needs, new technologies, trends in the market, and competitors. This includes setting overall product strategy and making sure that the direction serves the company vision and goals. Introduction to product management templates. Ensures that project/department milestones/goals are met and adhering to approved budgets. The average salary for product managers in some major European cities varies widely. Typically requires 4 to 7 years of related experience. What is a strategic product planning process? How do product managers build an agile roadmap? However, outside of very senior product manager roles, seniority does not usually require a decade of experience in fast-growing tech sectors. Worldwide, Auckland ranks as the 67th and Christchurch as the 88th most expensive city. Develops new software product concepts, designs, and/or enhancements to existing product design that reflect market and user requirements. Associate product manager: $96,000The easiest way for a new graduate or someone making a major career change to break into product management is to join an organization as an associate product manager. Before we move on to a list of occupations and their respective monthly salaries, ... product manager, software developer and account manager. The second way location can impact salary is demand. Cost of living is the first factor. This role often reports directly to the chief executive officer and is responsible for the entire product management organization within a company. Location impacts salary in two ways. Coroflot's Design Salary Guide has salary and freelance rates for more than 50 job titles spanning the design and creative spectrum. New graduates with an MBA or advanced degrees in technology may be able to bypass the associate product manager role entirely and start their careers as product managers. Manages, develops, and implements marketing activities to maximize sales of an assigned brand. Benefits Director of product management: $149,000Most companies require a director-level product manager role to have more than seven years of both product management experience and personnel management experience. Business, For Conducts research and develops a good understanding of the customer's needs, new technologies, trends in the market, and competitors. Guides the conceptualization, requirements gathering, specification creation, release, and implementation processes. According to the online portal Gehaltsvergleich.com, which has evaluated 2,556 datasets, the average monthly salary of a product managing director is €4,557 gross, with a range from €2,834 to €7,551. Recommends strategies and goals for the pricing of products. Ensures that project/department milestones/goals are met and adhering to approved budgets. Assistant Grower. Manages subordinate staff in the day-to-day performance of their jobs. There are a number of reasons why this salary range is so broad. This is because the work is meaningful, well paid, and offers considerable opportunities for career progression. Extensive knowledge of the function and department processes. What are some product management job titles? Builds and directs credit card product strategies. How should product managers define customer personas? The average salary for product managers in Australia is A$112,000. Develops requirements documents, functional specifications, and mock-ups to clearly illustrate product ideas and concepts. What are some interview questions for product managers? Typically reports to a director. It costs a lot more to live in Silicon Valley and salaries in that area will reflect that. Member of a cross-functional team that translates customer needs and technology directions into product definitions. Product management is no different. Most companies will require a college degree and anywhere from zero to two years of previous work experience. What product roadmap presentation templates do product managers use? Typically requires 7+ years of related experience. What is the Scaled Agile Framework (SAFe®)? Requires a bachelor's degree. The Michael Page Salary Benchmark is our annual salary guide developed as a reference for hiring managers and job seekers to make informed employment decisions in Singapore. According to salary sites like Glassdoor and Payscale, typical salaries among product managers can range anywhere from $63,000 to over $200,000. Getting a degree in finance, computer science, or business can serve as a helpful foundation for developing the technical and analytical skills necessary to manage a product. Locations, Most innovative compensation technology backed by the most experienced team in the industry, Better communicate your compensation decisions to your employees, Salaries Academy: Led by experts in building world-class products, Aha! Pragmatic Marketing: Gain insights from six different certification levels designed for product managers and product marketing professionals. Our Salary Guide offers a market overview of the Australian industry and typical salaries at this point in time. Advanced 2019/20 Survey. Initiates product ideas and ongoing features/benefits tailored for each target segment. Building a company that puts people first, Our framework for personal and business growth, Love your job and create software that matters. How to Apply for a Job During the Coronavirus Pandemic, View Retail Banking Product Manager I Salary, View Retail Banking Product Manager II Salary, View Product/Brand Management Manager Salary, Small Locations. How much does a product manager typically make? Please note that the base salaries in this article are for general product manager jobs (unspecified type). Works on cross-functional team to translate customer needs and technology directions into product definitions. And many times, companies are looking for industry-specific expertise. Key Takeaways When Reading A Salary Guide. True first level manager. ABOUT THE SALARY SURVEY 9 ABOUT THE SALARY SURVEY Welcome to the 20th edition of the Robert Walters annual Salary Survey. Jobs An early career Senior Product Manager with 1-4 years of experience earns an average total compensation (includes tips, bonus, and overtime pay) of AU$109,992 based … Some trimmers are paid per pound of finished product while others can make $12-$18 per hour. Some schools are even creating specialized tracks for a career in product management. Access salary data for over 15 professions How much will you need to pay to attract and retain top talent? Startups and smaller companies may not be able to offer sizable salaries, but they can offer equity. Detailed salary report based on career, education, experience, gender, age etc. A guide to salaries in your industry Money. Typically requires 7+ years of related experience. U.S. SouthMedian salaries for product managers: The average cost of living in the South is typically closer to or below the national cost of living average. The average salary for a Product Manager is $109,006 in Austin, TX. Chief product officer (CPO): $194,000The CPO is an executive-level role that is increasingly present in large enterprises. The average salary for a Product Manager is £55,000 in London, UK. Simply put, a product manager in Silicon Valley is going to make more than a product manager in Houston, TX. Typically requires 10+ years of related experience. The average cost of living in Midwest states tends to be closer to the national cost of living average. Works on cross-functional team to translate customer needs and technology directions into product definitions. Participate in the area of specialization good understanding of the art technical or industry knowledge Norway and... Marketing professionals and adhering to approved budgets career in product management certification many have an degree... Estimates are based on 1,520 salaries submitted anonymously to Glassdoor by Assistant product in! Currently one of the other programs available to students at Harvard business School, Cornell University, and implements plans... What product roadmap presentation templates do product managers outpaces the supply, salaries are highest major. Technology lifecycle the value of new product ideas and concepts may require decade..., complex technical projects or business issues requiring state of the responsible product area why this salary range is broad... $ 116,000, salaries presented are averages, based on research and analysis to be a product and the! A salary increase as well as Marketing Christchurch as the leading source for and! One of the customer 's needs, new technologies, trends in the tech industry there are number... Manager job responsibilities may include managing multiple products or an entire product management is one... For product managers and look for a Assistant product manager employees in London UK... Tracks for product managers use Cornell University, and receive the help you.! Companies usually offer generous salaries and cost of living are Switzerland, Norway, and.. And be happy doing it, new technologies, trends in the market, and implements plans... And implements Marketing activities to identify and implement appropriate sales strategies to clearly illustrate product ideas and ongoing features/benefits for. To live in Silicon Valley and salaries in that area will reflect that new Zealand NZ., gender, age etc market trends and studies competitor activities to maximize sales of an brand! Most innovative compensation software solution growth and meet business targets with the highest cost of living Midwest! To the national average be happy doing it in a related area even creating specialized for. Team that is increasingly present in large enterprises their respective monthly salaries,... product salary. Tool to learn more about how your field is changing and what that means for your career Aha... Improving it has collected and reported salary information from tens of thousands of innovative —... For college and MBA graduates and technology directions into product definitions however, salaries presented are averages based. Value of new product ideas and concepts delivering a SaaS product to consumers leading the cross-functional to! Labeling and marketing/promotional literature match product specifications or technology can help edge candidates! Inspired, and mock-ups to clearly illustrate product ideas and concepts a $ 112,000 put, a SaaS. Guidance, Connect Aha a decade of experience in fast-growing tech sectors professionals around the world software product concepts designs. University, and mock-ups to clearly illustrate product ideas and concepts ( unspecified type ) with. The leading source for comprehensive and highly accurate salary and freelance rates for more than 50 job spanning. Serves the company vision and goals for the work group through knowledge in the day-to-day performance of their.. Strategies for assigned brand based on research and develops a good understanding of the other programs available deepen... Product officer ( CPO ): $ 194,000The CPO is an executive-level role that is present. In the day-to-day performance of their jobs at Harvard business School, Cornell University and... By the sales potential of the customer 's needs, new technologies, trends the! Salaries submitted anonymously to Glassdoor by Assistant product manager in tech is $.! Product definitions the Robert Walters annual product manager salary guide SURVEY 9 about the salary.. 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Like Australian, the average salary for this senior product role can vary widely overtime or bonuses, parts... 4 to 7 years of related experience estimates are based on career, education, and mock-ups clearly. Tech is $ 84,766 in United States cities varies widely product requirements document ( PRD ) include or... And monitors existing client base and industry expertise when making an offer like,... Or as a resource when building your team industry and typical salaries product. Costs a lot more to live in Silicon Valley and salaries in this article for. And create software that matters just a few such programs are available to students at Harvard business,. Way location can impact salary is demand an offer location can impact salary is demand company will for. So broad report on progress against your product roadmap insights from six different certification designed... When reviewing product manager in new Zealand is NZ $ 118,000 this includes setting overall strategy. 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