A product manager is an essential role in any business, and Huntington | full guide understands that. That’s why we’ve put together this comprehensive guide on product manager salaries in the United States. From the average salary to the top cities for product managers, you can find all of this and more in our guide. So don’t miss out—grab a copy today and start planning your career path!
What is a Product Manager?
Product managers are responsible for the successful development and management of products within an organization. They lead product teams, setting product strategy and ensuring that products meet customer needs. Product managers typically have a bachelor’s degree in engineering or business, and experience in either software or hardware development.
Product managers can earn a salary ranging from $85,000 to $190,000, with the median salary hovering around $110,000. The highest-paying states for product managers are California, New York, and Massachusetts. However, the lowest-paying state is Utah.
The Different Types of Product Managers
Product managers are in high demand in the United States, with salaries reaching up to $130,000 per year. The different types of product managers can earn different salaries, depending on their experience and qualifications.
Below is a list of the different types of product managers and their average annual salary:
• Product Owner: The most common type of product manager, the product owner oversees all aspects of a product from inception to launch. They typically have at least five years of experience in software development or a related field and an understanding of customer needs. Expect a salary between $75,000 and $130,000 annually.
• Product Manager: A more senior role than the product owner, the product manager is responsible for managing the entire lifecycle of a product from ideation to launch. They typically have at least five years of experience in software development or a related field and strong analytical skills. Salary ranges from $85,000 to $140,000 annually.
• Product Manager(s) : A multiple-product manager role that is becoming more popular due to the increasing complexity of products. This type of manager oversees two or more products and has significant responsibility for strategy and governance. Salary ranges from $120,000 to $160,000 annually.
The Average Salary for a Product Manager
The average salary for a product manager in the United States is $82,000. The most popular industry for product managers is technology, with an average salary of $92,000. Product managers who work in the financial sector typically earn lower salaries than those in other industries.
What Special Qualifications are required for a Product Manager?
A product manager is responsible for the successful launch, growth and profitability of a company’s product line. This position requires a comprehensive understanding of business principles, customer needs and market trends.
In order to be successful as a product manager, you will need to have at least five years experience in a managerial or coordinating role in a manufacturing or technology-based business. Additionally, you should have strong analytical skills and be able to work well with others in a team environment.
Some common special qualifications for this position include experience in project management, design or engineering, marketing or salesmanship. The average salary for a product manager in the United States is $98,000 per year.
What Industry is the Most In Need of Product Managers?
The industry that is most in need of product managers is the technology industry. According to the Bureau of Labor Statistics (BLS), the average annual wage for a product manager in the technology industry is $126,000. This wage is higher than the average wage for all other industries combined, and it is also higher than the average wage for any other type of job.
If you are looking for a job as a product manager, you should definitely consider focusing your search on the technology industry. In addition to being one of the most in-demand positions, there are many opportunities available specifically in this field. You can work as a product manager at a startup company or an established corporation. You can also work as a product manager within a specific area of technology, such as software development or marketing.
Whatever type of product manager you are looking for, chances are that there are many jobs available in the technology industry. If you are interested in pursuing a career as a product manager, be sure to check out our full guide to finding employment as a product manager.
How to Become a Product Manager
Product managers are responsible for the success or failure of a product and must be able to identify customer needs and develop a product that meets those needs. Product managers typically report to a CEO or other senior management and work with marketing, engineering, customer service, and other departments.
The median annual salary for a product manager was $160,000 in 2017, according to Indeed.com. The highest-paid 10 percent earned more than $236,000, while the lowest-paid 10 percent earned less than $123,000. The most common job titles for product managers include software development manager and engineering manager.
There are many factors that affect a product manager’s salary. Location is one factor; salaries in major metropolitan areas tend to be higher than salaries in rural areas. Years of experience also play a role; if you have more experience managing products, you can expect to earn more money. Some skills that are commonly required of product managers include strong analytical abilities and excellent problem-solving skills.
When looking for a new job, one of the most important factors to consider is what salary you would be earning. In order to help shed some light on this topic, I have put together a full guide on product manager salaries in the United States for Huntington. This guide will give you an idea of what is typical across different regions and industries, so that you can get a better understanding of what you are worth and whether this is the right career path for you.