Product Management 101: An Online Course from Udemy OpenCourser (2023)

FAQs

Is product management a good field? ›

Product management can be an extremely lucrative and engaging career path for creative minds who want to play a critical role in the development of new consumer goods, business technologies, software platforms and anything else that people use every day.

Product managers and project managers often work together, they have distinct roles. While a product manager sets the vision, goals, and business trajectory of a product, a project manager leads the many projects to make those goals a reality.

There is no upper age limit for a candidate who is seeking admission in this course. However, he/she must be at least 20 years old or above to be eligible to get admission in those respective institutes.

The basic requirement to become a product manager in India is: Relevant bachelor's or master's degree in Business administration, management, computer science, engineering, marketing, economics, or a related field. 2-5 years of field experience in product development, testing, or product designing.

One can change their current career to product management without going through college programs. That doesn't mean that the general product manager education requirements have diminished over the years. It's just that, companies understand that you don't need a degree in product management to become a product manager.

Because product management blends so many skills and responsibilities, it can be a difficult role to achieve. Product managers often work in other jobs before demonstrating the ability to develop a new product and lead a team. It requires persistence, which makes landing the position worthwhile.

Although the average product manager salary in India is around 16 lakhs, it can go up to 30 lakhs per year with experience and added skills. Even the starting pay is quite high for this role. You can expect to earn somewhere around 7-8 lakhs per year when starting out.

High work stress.

Being a product manager comes with high expectations that can often prove to be stressful. As a manager, you are not only responsible for the product development and delivery process, but also for the entire product management team.

The average salary range is between $56,000 and $161,000. Therefore, program managers tend to earn more than project managers on average. However, the average product manager salary is the highest among the three at $111,174 per year with a salary range between $72,000 and $172,000.

So, if you work in a startup environment as a PM, you can expect to work somewhere in the range of 40 to 60 hours per week, depending on the company culture. This is merely an estimation but it's something that you may want to consider when choosing which company to apply to.

Can a project manager become a product manager? ›

The good news for you is that, as a project manager, you already have some of the experience and skills needed to become a product manager. But the two roles are very different. Making the transition will require you learn many skills you might not have acquired in your project management career.

Alumni network - The Google APM program is the first Associate Product Manager program of its kind and was created in 2002. The program has a far-reaching alumni network of over 600 APMs, including more than 35 APM alumni in senior leadership roles at Google.

An MBA in product management is a degree course offered by several B-Schools with a concentration or specialization in product management. Therefore, the curriculum for MBA in product management is designed in such a way as to familiarize students with the various roles in the life cycle of a product.

Course Description. Product management is the process of making the right product that solves the right problem for the right person at the right time. The right person is the customer, who along with business and technology, make up the heart of the product management process.

The education level required to apply for many product manager positions is a bachelor's degree in business or a related field. Product manager degrees should include coursework in communications, marketing, economics, public relations, statistics, advertising and management.

Part of a product manager's responsibilities is to search out, gather, handle, and prioritize customer needs and wants. Knowing the market requirements is key to a successful product. They need to understand why customers buy products as well as what the competition is doing.

Most product management jobs require years of experience. The length of time generally depends on the specific role. High-level management positions, such as a director, request five to 12 years of experience. Entry-level positions — associate product managers — are attainable without any prior skill.

The average Google Product Manager salary is $198,742 pa, which includes a base salary of $158,757 plus a bonus of $39,985. This total pay is $82,786 more than the national average for a product manager. Google product manager salary can range from $118,000 to $505,555 pa, with equity ranging from 0k to 100k.

Do product managers need to know how to code? For the majority of jobs, it's not a requirement. However, it can certainly make you more successful in the role. Product management teams lead a product from idea to production, and when they understand the technical side, the process flows a lot more smoothly.

Is product manager a tech job? ›

People assume that product managers need to have technical knowledge and skills to become technical product managers. The truth is, any tech person in product management can be a technical product manager. All you need is a technical background and enough experience in the field.

Great products are the heartbeat of any successful SaaS business, this is why Product Managers are in high demand today. Product Managers can come in many forms, ranging from Generalist PMs to Growth PMs to Technical PMs and even Platform PMs.

Finally, product management is not about pricing, promotions, positioning and messaging, or product launch activities. Nor is it about online marketing and customer acquisition strategies or influencer marketing programs.

Age Statistics in Product Management

54% were between the ages of 45 – 54. Interestingly, the same study conducted in 2019 showed that 34% of PMs were 30 – 39, and 34% were 40 – 49. 19% were in their fifties, and only 9% were in their twenties.

The product management market is expected to reach USD 31.84 billion by 2025. Thus, for aspiring and existing product managers who are planning to climb further ahead in the domain, the future is as bright as the sun, if not brighter. All that they need is the right training and mentorship.

In general, product managers are happy at work and satisfied with their current position, rating their happiness at 3.8 on a 5-point scale. More significantly, only 9% of respondents ranked their happiness a “1” or “2,” indicating that very few product managers are unhappy.

With hands-on experience in this approach, a product manager can prosper in an executive leadership position. In sum, product managers play a crucial role in product development and acquire the right skills that will help them flourish in their career and ascend to the CEO post.

While Product Management focuses on the specifics, Program Management takes a more comprehensive and organization-wide view of any business initiative, including product development.

What is difference between program manager and product manager? ›

Program managers take a lateral view across the organization. While product managers develop deep expertise on a particular product, program managers need to identify and coordinate interdependencies among several products, projects, and strategic initiatives.

It's not uncommon for product managers to work 50, 60, or even 70 hours per week. To-dos pile up and speed is of the essence, so work often spills over into nights and even weekends. The extra hours can help finish an urgent project, but often leave people feeling burnt out and unfulfilled.

Summary. Product management is one of the best non-programming roles in the tech industry, and tech is one of the most attractive industries to work in. It builds more widely-applicable skills than software engineering roles and has comparable pay.

Earn a bachelor's degree

Attending a four-year bachelor's degree program is the minimum education requirement for product developers. Depending on the industry a product developer wants to work in, they can pursue a bachelor's degree in food chemistry, marketing and sales, industrial design or engineering.

Program/Project Director: A senior position, a project director manages a project portfolio, and often is the head of the department. Head of Program/Project: Manages entirety of project organization, a senior, C-level executive.

The product manager or product marketing manager studies the customer's wants and needs, whereas the product owner makes sure that product development is following the product roadmap. The product manager decides what is going to be built or adapted and the product owner makes sure the development team does just that.

The Differences: Business Analyst VS Product Manager

Below are two main differences between Product Management and Business Analysis. Product Managers are focused on developing Products; Business Analysts are focused on developing capabilities for the business. For Product Managers, the ultimate goal is the product.

The Google Project Management Certificate is definitely worth it. It will help you build job-ready skills to start a career as a project manager. The course is prepared by Google project managers and is recognized in the industry as valid certification for project management entry-level positions.

It's therefore no surprise that landing the role as a Google PM is extremely difficult. In fact, the Google Associate Product Manager (APM) program haws a 0.55% acceptance rate. That's where Google product manager interview prep can help you stand out among the sea of other candidates.

There is no charge for the Associate Android Developer Certification training. However, the certification exam costs $149 per attempt. The courses are taught by Google employees.

Which stream is best for product management? ›

However if one plans to be a product manager specific to design or technical products, the science stream would be preferred. One can either apply for a bachelor's degree in business management and then apply for a Masters's program in business management.

If there's one degree that is most beneficial to product management types, it's likely a Masters in Business Administration. An MBA program, much like a product management job description, covers a broad swath of topics.

It identifies the three primary areas of focus for product management, namely: Product discovery. Product Planning. Product Development.

Product management examples also include the branding and customer communication required to launch a new product. Each product, in its nascent form, requires proper branding. This creates awareness about the product in the market. Advertising and PR handling also fall under the umbrella of product management.

However, if you plan to choose your degree with the goal of going into Product Management after graduation, you are best advised to go for subjects around technology, development, project management and innovation management.

Typically, aspiring product managers enter a program with three to five years of business experience, so they already have some of the skills needed for product management.

Which stream is best for product management? ›

However if one plans to be a product manager specific to design or technical products, the science stream would be preferred. One can either apply for a bachelor's degree in business management and then apply for a Masters's program in business management.

An MBA in product management is a degree course offered by several B-Schools with a concentration or specialization in product management. Therefore, the curriculum for MBA in product management is designed in such a way as to familiarize students with the various roles in the life cycle of a product.

Most product management jobs require years of experience. The length of time generally depends on the specific role. High-level management positions, such as a director, request five to 12 years of experience. Entry-level positions — associate product managers — are attainable without any prior skill.

Work with product leadership and company leadership to set product objectives aligned with high-level strategy. Prioritize the most strategically valuable feature ideas. Meet with sales, marketing, legal, and leadership to evaluate the viability of feature ideas.

State of Product Management in 2022

With 20,000+ jobs available on LinkedIn alone, the product management domain is in high demand in India and abroad. According to Jobted, the average salary for a product manager is around 246% higher than the national average salary in India.

Because product management blends so many skills and responsibilities, it can be a difficult role to achieve. Product managers often work in other jobs before demonstrating the ability to develop a new product and lead a team. It requires persistence, which makes landing the position worthwhile.

So, if you work in a startup environment as a PM, you can expect to work somewhere in the range of 40 to 60 hours per week, depending on the company culture. This is merely an estimation but it's something that you may want to consider when choosing which company to apply to.

Do product managers need to know how to code? For the majority of jobs, it's not a requirement. However, it can certainly make you more successful in the role. Product management teams lead a product from idea to production, and when they understand the technical side, the process flows a lot more smoothly.

The average Google Product Manager salary is $198,742 pa, which includes a base salary of $158,757 plus a bonus of $39,985. This total pay is $82,786 more than the national average for a product manager. Google product manager salary can range from $118,000 to $505,555 pa, with equity ranging from 0k to 100k.

Product Managers are paid more than Software Engineers according to the latest figures on Glassdoor. The need for experienced Product Managers has increased exponentially in the last 10 to 15 years, especially in the tech industry. Product Managers are paid well because they have an enormous workload to deal with.

What is the difference between a product owner and product manager? ›

The product manager or product marketing manager studies the customer's wants and needs, whereas the product owner makes sure that product development is following the product roadmap. The product manager decides what is going to be built or adapted and the product owner makes sure the development team does just that.