After successfully graduating from your senior secondary school, it is time to opt for the right career path. As an aspirant who wishes to pursue a technical career, product management can be a lucrative option. If you have a strategic mindset, orating skills, negotiation proficiencies, and analytical aptitude, you can enroll your name in a product management course.
Before registering your name for the course, don’t you want to learn about the salary structure? In general, a management career can offer a handsome salary. Here’s more on the product manager salary guide. Let’s delve into the following pointers to evaluate the salary of a product manager:
Salary Based on the Role
Based on the following roles, a product manager’s salary gets evaluated:
- An insight and perspective on the product portfolio plans
- A vision of the product and strategies
- Surveying is required for gathering market information to determine and represent the customers’ requirements
- Review product specs and requirements, thereby evaluating product ideas
- Evaluating market competition and comparing products of competitors’
- Describing key objectives for communication owing to product marketing
- Preparing reports, analyses, and forecasts on the product sales
- Determining pricing depending on the market research data & reviewing sales and production cost
- Hiring and training staff
Salary Based on Different Countries
Their salaries are given based on the above roles of a product manager. However, it may differ from one country to another in the following ways:
The U.S.
The salary varies based on the area that you work in the U.S. Here’s presenting a list of points for a better insight into that front:
- Seattle: $100,000 approx.
- San Francisco: $109,000 approx.
- Boston: $93,000 approx.
- Los Angeles: $98,000 approx.
- Minneapolis: $94,000 approx.
- New York: $103,000 approx.
- Chicago: $97,000 approx.
- Dallas: $93,300 approx.
- Denver: $95,000 approx.
- Atlanta: $94,000 approx.
U.K. and Ireland
On average, the salary of a product manager is approximately £53,700 and €71,000 in the U.K. and Ireland, respectively. The following are the salaries listed depending on the location:
- Belfast: £50,650 approx.
- London: £58,500 approx.
- Dublin: €79,000 approx.
- Edinburgh: £52,400 approx.
- Cardiff: £56,300 approx.
European Nations
Enlisted below are the salaries depending on the European nations:
- Switzerland: approx. €169,300
- France: approx. €66,800
- Austria: approx. €63,800
- Germany: approx. €62,500
- Spain: approx. €45,500
- Italy: approx. €42,300
Australia
With a product management career, you can earn an average of $128,800 annually in Australia. Here’s more:
- Canberra: approx. $263,000
- Brisbane: approx. $127,000
- Perth: approx. $127,000
- Sydney: approx. $126,000
- Melbourne: approx. $113,558
India
If you want to pursue a product management career in India, you need to have the following degrees and skills (like in other countries):
- Relevant bachelor’s or Master’s degree in Computer Science, Business Administration, Engineering, Finance, Marketing, or Economics
- Time management proficiencies to work under pressure and tight deadlines
- Ample experience for a minimum of three to five years in product development, testing, strategy-building, or product designing
- You must make and translate data reports in Google Sheets, Microsoft Excel, and other software.
The average salary in India is approximately ₹9, 40,771 and these are the figures for different cities in India:
- Bengaluru: approx. ₹11,00,000
- Mumbai: approx. ₹10,40,000
- Hyderabad: approx. ₹9,30,000
- Jaipur: approx. ₹8,70,000
- Delhi: approx. ₹8,00,000
Different Career Paths in Product Management
You can work as one of the professionals under any of the following job titles:
- Product Manager
- Associate Product Manager
- Director of Product
- Senior Product Manager
- Chief Product Officer, etc.
After completing your degree and acquiring product management skills, prepare for the interview effectively. You must understand how to get into salary negotiation in an interview with your recruiter with your strategic thinking and professional acumen.
