Having a college degree that relates to finance, computer science or business as these develop skills that are vital to the Product Manager role, and are therefore, desirable.Having an advanced qualification, such as an MBA.Other ways in which education can improve your Product Manager salary include: Most Product Managers tend to have a college degree, and although this doesn’t tend to have much impact on the salary, it does affect the chances of landing a job post graduation. EducationĮducation impacts the salary can impact upon what Product Manager roles you can apply for and how attractive a prospect you are to an organization, thus the salary they are willing to offer you. Let’s look at it another way and delve deeper by looking at various cities of the US and how much they tend to pay (%) above the National average salary:Īpplying such a framework to Product Managers emphasizes just how instrumental location is to determining salary. Demand vs supply: if there is an abundance of Product Manager roles but very few people coming forward, then demand outweighs the supply, making the wage higher to attract potential applicants.Cost of living: If you are working in Downtown LA, your salary will tend to be higher than it would in say Austin, Texas, simply because there is a massive variation in living costs.Location impacts a Product Manager salary in two respects: the cost of living and demand. There are four main factors that will affect your salary as a Product Manager: How Do Location, Experience, Education, and Industry Affect Salary? However, when it comes to FAANG organizations (Facebook, Amazon, Apple, Netflix and Google), there is a much larger discrepancy, with the base salary tending to be $160-$200k and with equity ranging around $400k-$1m over four years. S maller companies and startups tend to pay less in salary and more in equity, with larger organizations offering the opposite. Think about it: a start-up tends to have less revenue to spend on higher wages, whereas larger organizations will want to maintain its reputation and success by attracting top-class workers that will advertise a higher salary. It’s normal to expect variations in salary depending on the size and experience of the organization.
Therefore, when you’re first starting out with a Product Manager role, expect the lower end of this scale, but the specifics will depend on other factors, such as location, industry etc, all variations that will be covered further in this article.įurthermore, when you’re first starting out in a Prodcut Manager role, you’ll be expected to value experience more than the initial salary, thus enabling you to establish your career and helping you to expect a higher salary once you have a few more years under your belt. Obviously, as the Product Manager postings become more senior in nature, the higher the salary will become. What’s a Reasonable Salary to Expect as a First-Time Product Manager?Ī Product Manager posting tends to be accompanied by a typical salary ranging from $63,000 to over $200,000.
How Does Product Manager Salary Compare to Other Product Roles?įollow along with the video as we unpack everything you need to know about Product Manager salary:.How Do Location, Experience, Education, and Industry Affect Salary?.What’s a Reasonable Salary to Expect as a First-Time Product Manager?.Here’s what we’ll cover in this ultimate guide to salary for Product Managers: When it comes to prospective Product Manager salaries, there may be an average, but not two salary offers are the same. And that’s not to mention the difference that depends on whether you’re at a startup, mid-sized company, or working for big tech. Still, there’s a variance in salary according to what state you’re in and what experience level you bring to the table. According to Glassdoor, the average Product Manager salary in the US is $108,992, compared to the Canadian average of $85,000. You want to become a Product Manager, but you don’t know what salary to expect.
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