Product Manager Salary – Plerdy (2023)

Specialists in the Product Manager segment are in demand both in emerging markets and in countries with a high level of employment of IT specialists. Depending on the region and degree of training, the annual salary for a product manager ranges from $95,000 to $190,000. The top super companies – Google, Facebook, Amazon, and Microsoft – offer a high-level product manager salary in the range of $162,000 – $218,000 per year.

The growing interest in the profession is reflected in the Google Trends service. Over the past five years, the number of searches for “product manager salary” in the search engine has steadily increased. In terms of the popularity of the specialty, the leaders are China, Singapore, and the USA. Product management booms are seen in Europe, Australia, and New Zealand. On almost all the continents, the “product manager” profession is one of the highest-paid.

Specialists are often looking for work based on remote cooperation – in recent years, the growth of such requests has reached + 2500%. In addition, the advancement of artificial intelligence technologies has led to an active demand for product managers in neural networks. As a result, total AI Product Manager searches increased 850%.

Entry-level Product Manager salary

Product Manager Salary – Plerdy (1)

Who is responsible for creating and launching products? Of course, the product manager! Strategy and concept, development management, the definition of functional requirements – a product manager does not get bored at work 🙂

33% of applicants for this position have minimal experience. In October 2021, the median salary for an aspiring product manager in the USA was $50,332 per year. The base salary does not include company bonuses or bonuses sometimes awarded to employees for special merit.

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In different regions, the salary of a product manager varies, with the difference reaching 7%. In New York, employers offer the most attractive entry-level managerial pay, averaging $59,768 per year. Many projects and startups are launched here, so product management specialists are in great demand. When looking for a job, it is advisable to consider moving to these cities to increase your income:

  • In San Mateo, a product manager earns an average of $58,568 per year.
  • In Juneau – about $56,975.
  • Boston – $56,937.
  • In Minneapolis – $55,267.

The difference is due to the more affordable standard of living. Although, the number of vacancies here is small. Remember: mastering additional special skills will help you earn more, even at the entry-level.

Junior Product Manager salary

Product Manager Salary – Plerdy (2)

The average salary for a junior product manager is around $62,000 per year. Several aspects predetermine the salary of a Junior specialist: race, employee education, and the prestige of the company in which he is employed. For example, the difference in pay for men and women in this specialty varies around $4000 per year in the USA. Asian people get more than African Americans. The salary gap can be as high as $10,000 per year. Employees with a master’s degree can expect an increase of $10,000. And managers with only a bachelor’s degree, accordingly, receive almost $1000 less per month.

The level of the company also affects the employee’s income. Below are the top employers offering high salaries for junior product managers:

  • Citizens Financial Group – $77,353 per year.
  • Citizens Bank – $74,370.
  • Take-Two Interactive Software – $67,981
  • Softheon – $64,480
  • BGC Partners – $64,271
  • Nielsen Holdings – $60,319

Junior Product Managers are in demand in the most profitable and important business sectors: pharmaceuticals, industry, software development, finance, and many others. Therefore, in the present, there is a tendency for a small but steady increase in wages for junior managers. Three years ago, the numbers fluctuated within 3% per year, and in the last two – the payment increased by 1.5-2%.

The easiest way to earn the most as a junior manager is in New York State, where the average employee is offered $77,369 per year. On the other hand, in the state of Wyoming, a beginner can count on $31,459.

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TownPayment per hourPay per weekPayment per monthPayment per year
Bayonne, NJ$26$1 025$4 100$50 000
Ocoee, FL$29$1 150$4 600$55 000
Indianapolis$21$844$3 375$40 500
Nampa, ID$27$1 083$4 333$52 000
Braintree, MA$25$1 000$4 000$48 000
Fort Wayne$20$791$3 166$38 000
Castle Rock, CO$27$1 089$4 358$52 300
San Antonio, TX$28$1 125$4 500$54 000
Carrollton$21$833$3 333$40 000
Evansville$22$854$3 417$41 000

Compare average salaries across states – they also vary.

TownPayment per hourPay per weekPayment per monthPayment per year
Burlingame, CA$55$2 200$8 800$105 600
Phoenix, AZ$38$1 510$6 041$72 500
Germantown, MD$43$1 708$6 833$82 000
San Mateo, CA$51$2 029$8 117$97 400
Seattle, WA$38$1 521$6 083$73 000
Portland, OR$36$1 452$5 808$69 700
Menlo Park, CA$39$1 563$6 250$75 000
Redwood City, CA$46$1 833$7 333$88 000
Scottsdale, AZ$42$1 694$6 775$81 300
Oakland, CA$41$1 625$6 500$78 000

Mid-level Product Manager salary

Product Manager Salary – Plerdy (3)

The salary of an average specialist varies between $120-130,000 per year. The highest salary is received by employees of large companies with more than 500 employees.

The gender of an employee in this area has practically no effect on the amount of salary. But work experience gives a significant increase – the more, the better. Employees with more than seven years of experience earn $40,000 more per year than beginners.

In addition to material incentives, the Mid-level product manager often has additional benefits from the employer:

  • Gym membership or gym equipment in the office.
  • Parental leave, family vacation.
  • Insurance and other promotions.

Additional experience in software development can significantly affect the salary of a mid level product manager. You can count on a premium to the basic rate if you know the following areas:

  • IT security and infrastructure.
  • IT consultations.
  • Big Data analytics.
  • Corporate solutions.
  • Machine learning.

San Francisco, Redmond, Seattle, New York, and San Jose are the top five states with the highest wages for mid-skilled specialists. In addition, 65% of middle-level product managers in the USA are satisfied with their income and believe that their salary is sufficient for a comfortable life in the region.

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Among the largest giant companies interested in Mid-level professionals:

  • Juniper Networks – $191,784 per year.
  • Oracle – $169,816
  • Google – $160,912
  • Facebook – $165,811
  • Boeing – $161,534

This confirms the opinion that a specialty is needed not only in the IT industry but also far beyond its borders.

TownPayment per hour, $Pay per week, $Payment per month, $Payment per year, $
San Francisco, CA124,27553.022,2538,717
Redmond, WA115,27550.492,1458,300
Seattle, WA114,20749.322,0958,107
New York, NY113,14648.992,0818,053
San Jose, CA111,95747.962,0387,885
Chicago, IL103,07944.471,8897,311
Atlanta, GA101,81543.711,8577,185
Houston, TX96,67042.421,8026,974

Senior Product Manager salary

Product Manager Salary – Plerdy (4)

The average salary in the USA for the position of Senior Product Manager is about $143,000 per year. With the additional incentives that usually come with this position, it can reach $155,000. As in other areas, with the acquisition of experience, the employee can count on a pay increase.

In addition to cash payments, specialists of this level get more attention paid to their health. They are provided with special conditions for visiting medical institutions, dentistry, ophthalmology, and other specialists.

Men dominate the positions of Senior Product Manager, and they represent almost 60% of the total number of specialists in the country. The fair sex is represented by a little less than 40%. A Senior Product Manager is rated as high as possible in San Francisco and California, and minimum in Chicago.

The additional skills of a specialist also influence the final level of remuneration. Knowledge of programming, experience with artificial intelligence, and bio-equipment increase remuneration by 7-20%.

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The position of Senior Product Manager has a career opportunity – an experienced employee can “grow” into a product director, vice president of product or marketing. To move up the corporate ladder, you need to have a high level of responsibility, have a significant library of skills, and the ability to work effectively with the product.

The companies that require qualified senior managers are representatives of the pharmaceutical industry, software and device development, production and sale of textiles, large commercial online sites, and many others.

TownPayment per hour, $Pay per week, $Payment per month, $Payment per year, $
San Francisco, CA153,61273.852,95412,835
Redwood, CA155,76474.892,99513,015
Seattle, WA156,88775.433,01713,109
New York, NY186,27389.553,58215,565
San Jose, CA180,07486.573,46315,046
Chicago, IL152,22273.182,92712,719
Atlanta, GA141,93468.242,72911,860
Houston, TX147,07370.702,82812,289

Conclusion

The salary of a product manager depends on several main factors: the preparedness of the specialist, his education and certification, the standard of living in the selected region. Almost all over the world, a Product Manager is a highly sought-after specialist with career prospects and decent remuneration for work. Use the calculator to find out the market value of your skills and estimate the expected pay you can get. You will get an objective result by entering data on experience, education, position.

FAQs

How much does a Product Manager makes? ›

The average product manager yearly salary is US$111,868, according to Glassdoor, as the American national average. The average product manager salary in the USA.

What is the highest salary for a Product Manager? ›

Salary Ranges for Product Managers

The salaries of Product Managers in the US range from $28,000 to $525,000 , with a median salary of $111,000 .

Who gets paid more Product Manager or product owner? ›

One thing that can come into the equation when deciding who a company needs is salary. That can affect annual budgets and profit margins. A product owner makes on average $110K US per year and the product manager starts at $112K US. Learn more about product manager roles and salaries in this guide.

Which company pays Product Manager the most? ›

Also on the list of top-paying companies for product managers are Block, Google, Workday, Walmart, and Amazon, with salaries ranging from $151,000 to $156,000.

Why are product managers paid so high? ›

The demand for these professionals is high in the market and many companies pay handsome amounts for this role. That's the primary reason product manager salary in India is quite high. The ever increasing demand.

Is product manager high paying? ›

Product Manager Salaries

It's been deemed as one of the top ten best jobs in the United States. A job in product management is also coveted because of its high salary. The average compensation for product managers across various positions can range from $61,000 to $200,000+ per year.

Is being a product manager stressful? ›

Every day is different for a product manager. If you like structure and planned sprints for your tasks, product management may be an unpleasant and stressful job for you!

Who is paid higher project VS product manager? ›

Generally, product managers make more than project managers in the US. The average product manager's salary in the US is $111,755 a year, while a project manager in the US makes an average salary of $87,637, according to August 2021 data from Glassdoor.

Who earns more product manager or project manager? ›

According to Indeed, the average salary for a product manager in 2022 is $89,861 per year, while the average salary for a project manager is $77,162 per year. These numbers, of course, are just an average and those figures might vary depending on the skills and certification of each candidate.

Do product managers make millions? ›

Read below to learn the different salaries for product managers based on their level of experience. Entry-level product managers earn an average salary of $74,620 annually. Mid-level product managers can earn an average of $113,000 annually. Senior-level product managers see an average salary of $208,000 annually.

What does product manager do all day? ›

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.

Do product managers make good CEOS? ›

Many paths lead to the CEO chair, but one individual role best prepares people to be a CEO -- product manager. This job is a great training ground for chief executives, at least in technology companies. In fact, it's arguably the single most important individual contributor position in the company.

What are the top 3 things that make a good product manager? ›

Aspiring PMs should consider three primary factors when evaluating a role: core competencies, emotional intelligence (EQ), and company fit. The best PMs I have worked with have mastered the core competencies, have a high EQ, and work for the right company for them.

Is product manager a high demand job? ›

Product manager ranks #3 on Glasdoor's 50 Best Jobs in America list with 14,515 current job openings.

Is product manager a good career in future? ›

Not only that, but they also work closely with the sales team in order to train them on the products. So the people deliberating “Is product management a good career?” should be assured that yes, it is, as it provides good leadership opportunities to product managers.

How old is the average product manager? ›

The average age of an employed product manager is 38 years old.

How do you negotiate a product manager salary? ›

The three keys to how to negotiate a product management salary are: 1. know your value as a candidate, 2. Understand the industry norms, and 3. have a clear idea of what you want going in. Negotiating your pay ensures that you are compensated fairly for your credentials and duties.

Why is product management so hard? ›

Perhaps the hardest part of being a Product Manager is the community-building aspect. A person can have all the qualifications and hard skills needed to be the best Product Manager to date, but without the ability to effectively build relationships across teams and with colleagues, they may never succeed.

Is a product manager job tough? ›

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.

What is the minimum salary of a product manager? ›

Product Manager salary in India with less than 2 year of experience to 13 years ranges from ₹ 5.9 Lakhs to ₹ 35 Lakhs with an average annual salary of ₹ 16.4 Lakhs based on 22.8k salaries.

Does product manager earn more than engineer? ›

Depending on who you ask, product managers earn more than software engineers and vice versa. Keep in mind that experience, tenure, and industry all impact whether one role makes more money than another and vice versa.

Can a shy person be a product manager? ›

Product management is a unique career path in that it involves a broad set of skills and competencies. We believe that all types of personalities can thrive in product management roles if they elect to invest time into finding their strengths.

Why do product managers quit? ›

#1 Bad Company Management and Leadership

“People don't leave companies, people leave managers,” one product manager cleverly concluded in our poll, and most product managers seem to agree. Bad company management and leadership got 431 votes which clearly makes it the number one reason why PMs leave their jobs.

When should you quit being a product manager? ›

In summary, if you're wondering whether you should quit your job as a Product Manager, take a moment to remember that you have better options and resources available. If the environment is toxic and doesn't serve to challenge you or help you grow, it might be time to leave.

Which role is better project manager or product manager? ›

Product managers have strategic responsibility for driving the development of products, whereas project managers are responsible for overseeing the execution of those development plans. Before we discuss the specific differences between product and project managers, let's clarify what we mean by each role.

Who earns more product manager or business analyst? ›

According to Glassdoor, the average Business Analyst's salary is ₹750,000/year in India. Whereas, a Product Manager's salary is up to ₹1,500,000 per annum on average in the country.

Do product managers have a future? ›

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.

Is being a product manager lonely? ›

Being a product manager is lonely.

A universal aspect of Product Management that people don't expect is just how lonely it feels to be a PM. You could be working with a team of 100 people, be in 10 meetings a day, and yet often feel super-lonely because no one else shares your struggles or truly understands them.

Do product managers work long hours? ›

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.

What are the 2 responsibilities of product manager? ›

A product manager's job description involves planning and executing the product's lifecycle. It also includes curating and prioritizing the requirements of products and customers. Product managers work closely with the sales, marketing, and engineering teams for various aspects.

What are the 3 major areas of product management? ›

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

What a product manager should not do? ›

10 of the Most Common Mistakes Every Product Manager Should Avoid
  • Trying to work backward from a preconceived solution.
  • Substituting customer "wants" for true innovation.
  • Misidentifying features or product specifications as benefits.
  • Mistaking novelty for real value.
  • Allowing communication gaps to compromise your vision.
8 Jul 2019

Is the product manager a mini CEO? ›

The product manager is also known as the mini-CEO and that's because, like the CEO, they need to be multidisciplinary and sit within the centre of all activity. They're like the glue that sticks products to customers and customers to products.

What is the toughest challenge a product manager faces? ›

FAQs on product management challenges

Our research shows that the hardest parts of the job for many product managers are organizational comms, managing deadlines, team alignment, and balancing different responsibilities.

Why product managers are called mini CEO? ›

PMs have no authority, yet have to drive consensus: Unlike a CEO, a PM usually has no formal authority on people or budget - but rather, the PM manages by influence. A PM has to hold complex conversations with all functions including the engineering, design, sales, marketing, operations, finance, and the legal team.

What are the four 4 critical skills of a product managers? ›

Skills Required to Become a Product Manager
  • Writing Technical Requirements and Specs. Coming up with product optimizations and new product ideas is an integral part of a product manager's role. ...
  • Conducting Market Research. ...
  • Strategic Thinking. ...
  • Excellent Oratory and Communication Skills. ...
  • Excellent Negotiation Skills.
22 Apr 2022

What is your superpower as a product manager? ›

Superpower 1: Intellectual curiosity

Great product managers are incredibly curious. If something isn't working, they are relentless in trying to understand why. They continually ask questions and zero in on the problem like a heat-seeking missile, but they are rarely satisfied with face-value answers.

What is your greatest strength as a product manager? ›

There are three strengths that employers find particularly attractive in Product Manager candidates: The ability to make the company money. The ability to save the company money. The ability to save the company time.

Is there a product manager shortage? ›

Product managers and product marketers are In demand right now. It's a growing field. Linkedin rates it as the most promising job with 29% growth. Glassdoor says it's the 4th best job.

Is product management a good fit for me? ›

In short, a product manager's job is all about solving problems for people. If your life has led you to creative thinking, problem-solving, and curiosity, it's quite possible product management is the perfect career choice and you'd be a perfect fit for a role where you can practice, learn and grow a ton.

What is the next role after product manager? ›

Senior product managers are well-positioned to move on to a director-level role if they accomplish two things. First, become a critical source of advice for other product managers. Secondly, become an advocate for the product team to senior leadership.

What is the next level for product manager? ›

Once a product manager has around 3-5 years of experience under their belt, they can move up to the role of a senior product manager. At this level, you'll be taking on more responsibilities in your role, which include the following: Managing product managers. Managing collaboration across cross functional teams.

Do I need an MBA to be a product manager? ›

An MBA is not a requirement for landing a job as a product manager. However, due to current demand and high pay, more professionals will likely enter the field in the coming years, and employers may become more selective in their hiring processes.

Is it stressful being a product manager? ›

Every day is different for a product manager. If you like structure and planned sprints for your tasks, product management may be an unpleasant and stressful job for you!

Is product manager high in demand? ›

Product management is in the top 10 on Glassdoor's list of America's 50 best jobs (2022). Technology companies take the lead in product management with a 51%recruitment rate.

How old are most product managers? ›

The average age of an employed product manager is 38 years old.

What are top 3 skills for a product manager? ›

Skills Required to Become a Product Manager
  1. Writing Technical Requirements and Specs. Coming up with product optimizations and new product ideas is an integral part of a product manager's role. ...
  2. Conducting Market Research. ...
  3. Strategic Thinking. ...
  4. Excellent Oratory and Communication Skills. ...
  5. Excellent Negotiation Skills.
22 Apr 2022

Is product management a lonely job? ›

Being a product manager is lonely.

A universal aspect of Product Management that people don't expect is just how lonely it feels to be a PM. You could be working with a team of 100 people, be in 10 meetings a day, and yet often feel super-lonely because no one else shares your struggles or truly understands them.

What is the hardest part of product management? ›

What's the hardest part of product management? Our research shows that the hardest parts of the job for many product managers are organizational comms, managing deadlines, team alignment, and balancing different responsibilities.

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