A typical product manager must juggle multiple responsibilities throughout the course of a typical day. They might have to figure out the most efficient development lifecycle for a new product, or ensure that a current product or service is actually getting the updates it needs. They must communicate and negotiate with multiple stakeholders, from technologists to senior executives. Given all that complexity, how high can a product manager salary get?
Let’s find out! If you’re considering a career as a product manager, take heart: With the right mix of skills, experience, and education, you can unlock massive compensation.
What is a product manager starting salary?
According to Emsi Burning Glass, which collects and analyzes millions of job postings from across the country, product managers with zero to two years of experience can earn a median salary of $81,000. That rises considerably with tenure; for example, the median salary for a product manager with more than nine years of experience is $115,000.
What is the average product manager salary?
Emsi Burning Glass places the median product manager salary at $102,317. Meanwhile, Dice’s latest Tech Salary Report places the average product manager salary at $120,323; that’s considerably above the average technologist salary of $104,566.
Depending on your city and company, that average salary can climb still further. According to levels.fyi, which crowdsources its compensation data, mid-career product managers at Facebook can earn an eye-popping $239,555 per year, once you factor in bonuses and stock compensation; at Twitter, those product managers with significant experience earn an average of $232,667.
How do you negotiate a product manager salary?
As with other technologist professions, successfully negotiating a salary bump often comes down to your skills, education, and background. If you can demonstrate that you’ve mastered a number of product manager skills that will translate appreciably into successful business outcomes, you have a better chance of persuading a recruiter or hiring manager that you’re worth more than an initial offer.
In your resume and cover letter, and during job interviews and annual reviews, showing that you’ve had a positive and lasting impact on your team’s (and company’s) deliverables is all-important. Always do your best to come armed with performance-related numbers.
Are product managers in demand?
Emsi Burning Glass recorded 177,692 open positions for product managers over the past year, with an average time-to-fill of 43 days, which suggests a high level of demand. As you can imagine, companies everywhere need professionals who are capable of managing product development and maintenance.
Is product manager a dying career?
Emsi Burning Glass also predicts that product manager jobs will grow 11.6 percent over the next 10 years, which is pretty much the opposite of dying.