what is a product manager?

As a product manager, you oversee product development to ensure that the products produced match users' needs and generate profits for the company. In addition to assessing product feasibility, you aim to maximize return on investment for your employer. Your specific responsibilities depend on the product niche and target audience, with consumer products requiring particular attention to design in order to cater to a large customer base.

Your role as product manager involves working with stakeholders and management. For instance, you define the product vision by determining the problems that the product will solve and the target consumers. You also empower the designing team to deliver the highest value by reviewing product specs and participating in testing. As a product manager, you should be an expert in market trends, quantitative and qualitative data from user research, and competitive analysis. When you understand the implications of the product, you can prioritize features and lay out an actionable plan for executing an idea.

Would working as a product manager suit your strategic planning and decision-making skills? Read on to discover what competencies and qualifications you need to thrive in a product manager role.

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average product manager salary

You can expect an estimated total pay of $128,255 to $297,000 per year as a product manager in the United States. The average salary is $102,247 per year. This estimate includes an average of $26,000 annually in bonuses, commissions, and profit sharing.

factors that influence product manager salary

The broad salary range is influenced by several factors, including experience, geographic location and education, which hiring managers consider when making job offers. You can become a product manager with an average salary of $128,000 after gaining three to five years of experience. An MBA or advanced degree may even allow you to skip the associate role. After five to eight years, you can earn around $175,000 as a senior product manager. With seven or more years of experience, a director of product management earns about $255,000. As a VP of product management, you can expect to earn $275,000, and a CPO, who oversees the entire product management organization, earns an average of $297,000 with the potential for higher total compensation through bonuses and stock options.

Would you like to know what a product manager earns? Where the highest salaries are paid for a product manager? Then check out this product manager salary page and find out all about the salary of a product manager in the USA.

product management meeting
product management meeting

types of product manager

  • technical product manager: as a technical product manager, you work with engineering and product design teams to develop technical products. Your job is to analyze trends, study competitor products, and develop features to improve the performance of the technical products in the market.
  • growth product manager: as a growth product manager, you ensure the existing products maintain their competitiveness. You find avenues for new product growth by working with the research and design teams to create new features to increase profitability.
  • digital product manager: a digital product manager oversees the development and creation of digital products. You determine customer needs and translate them into product features. You also conduct extensive market research to balance customer expectations with business goals.
  • software product manager: software product managers work with developers and designers to create functional software. You analyze software solutions and ensure the product is up to date.

working as a product manager

A product manager oversees product development for a company. Continue to explore the roles and responsibilities of a product manager below.


product manager skills and education

If you want to become a product manager, advanced degrees aren't necessary. This profession values experience and draws on best practices from technology and business.

working woman
working woman

FAQs about working as a product manager

Here you will find answers to the most frequently asked questions about product managers.

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