This article draws on multiple sources to provide Product Manager salary data. It also includes links to the sites so that you can customize the various salary factors such as location, experience and industry to match your situation.
The Product Management profession has come a long way in the past few decades – it used to be misunderstood and undervalued.
Now, companies are realizing that product management is the critical strategic driver for them to make customers happy and win markets long-term. It is no surprise that the importance of product management has influenced the serious demand for rising numbers of job opportunities and increased salaries for the profession. Great product management can make a huge impact in terms of whether products, as well as the entire company, succeed or fail in both the short and long term.
Many are taking notice on the importance of Product Managers
According to CNN Moneywatch, Product Management is now the fourth most important profession in corporations, behind only CEOs, General Managers and Senior executives. Twenty five percent of CEOs now have Product Managers that report directly to them. And Money magazine ranked being a software product manager as one of their top ten jobs.
Along with this recognition of the importance of the role, salary levels have increased. One study by Hired found that product managers consistently get the top salary offers, $133,000 on average. Software engineers were offered an average of $123,000 followed by designers at $115,000.
Glassdoor has over 33,000 Product Manager salaries, showing an average of $113k and a high of $154k.
Trulia data shows the same average of $113k, but also indicates that the average for a Product Manager in the San Francisco area is $140k.
Paysa’s recent study showing salaries at tech firms, with the range for Product Managers being $107k to $325k (which is the highest salary we at 280 Group have ever seen.)
And Indeed data shows an average salary of $102k for Product Management.
So, what can you do to maximize your salary in Product Management?
Make sure to increase your own market value.
Get trained and certified, become a Certified Product Manager or a Agile Certified Product Manager and Product Owner. This shows you have mastered the core skills to manage any product in any market. You’ll want to be sure any training you take is comprehensive and up to date, covers the entire product lifecycle and offers a certification that is standard worldwide (not just specific to the course). 280 Group now offers financing on training and courses for all U.S. based residents.
More businesses are committed to upskilling their product managers, and demand for training is up 300% in the past 12 months.
– SEEK Insights & Resources
Choose a market that is rapidly growing.
This will most likely be in the tech sector. “Growth” is THE way to describe the technology market, both domestic and international. While we are leaning on the cusp of flashy A.I. and cryptocurrency trends, the market continues to boast more and more employment opportunities with rising salaries.
Consider moving to one of the tech hubs like San Francisco or New York.
According to a recent article by The Mercury News, the San Francisco-San Mateo area gained 6,300 jobs in the month of November 2018 alone. An article in The New York Times found that New York has evolved into a genuine tech hub. Google employs 7,000 people in the city, and more than half are engineers and technical staff. The cost of living will be higher but you may be able to make up for it with a much higher salary.