How much money do product managers make?
Given the fact that the role of a product manager entails quite a number of responsibilities, right from product development to its marketing, these professionals are bound to be paid well.
The average product manager salary in the US is $95,950 per annum, with an average hourly rate of $41.32.
Meanwhile, in India, product managers earn about INR 15.6 Lakhs on a yearly average.
With that being said, it’s crucial to know that product manager salaries can vary depending on their location, company, industry, skills, and of course, their experience level.
To get a more comprehensive insight on product manager salary, read on.
This blog will give will you clarity on the following FAQs about product manager salary:
- Which are the highest paying cities in the US for product managers?
- Which are the top companies that are paying the highest to product managers?
- How much do product managers make based on their experience levels?
- What are the in-demand skills of a product manager that can help you get paid more?
Product Manager Salary in Various US Cities
As stated earlier, a product manager's salary varies depending on the location of the candidate.
While a particular city, for instance, the city of San Jose in California pays $122,823 per annum for the position of a product manager, professionals working in San Francisco in the same role earn $118,953 per year.
But why the difference in their pay?
Well, the primary reason for the difference in pay based on location is due to the difference in cost of living and the demand for talent in these locations.
The higher the cost of living and demand for talent in a particular city, the higher is the product manager salary.
Similarly, all the cities in the US offer varying salaries to product managers.
As a job seeker, it is up to you to decide if you are willing to relocate for better pay.
Given below are the other top 10 highest paying US cities for the position of product managers:
|CITY||AVERAGE YEARLY PAY|
|New York, NY||$110,521|
Top Companies Offering Highest Product Manager Salaries in the US
The difference in pay based on the different companies stems from the organization’s size, their annual turnover, and the overall responsibilities of the position.
As an able product manager, it’s important to know the value that you bring to the table and whether you are being rightly compensated for the same or not.
With that in mind, take a look at the following list of top companies in the US who are paying their product managers handsome salaries for the indispensable work that they do:
|COMPANY||SALARY / YEAR|
As for the highest paying companies for product managers in India, here’s the list:
|COMPANY||SALARY PER ANNUM|
|Tata Consultancy Services||INR 1,500,000|
|Kotak Mahindra Bank||INR 1,000,000|
|ICICI Bank||INR 924,000|
|Axis Bank||INR 900,000|
Product Manager Salary Based on Experience Level
Now that you have a clear idea about the external factors that influence the pay of a product manager, it’s time to take into account your personal experiences and skills that have substantial influence over your product manager salary.
The expected associate product manager salary in the USA is $94,216 per annum.
Whereas, if you have 5 to 8 years of experience, the average junior product manager's salary leverages up to $106,617 yearly.
Furthermore, if you are an expert in your field with 10 to 19 years of experience to boast, the median senior product manager salary accounts for a whopping $114,360 per annum.
As you progress on and navigate through your career trajectory as a product manager, your salary increases with the years of experience under your belt.
In-demand Skills of a Product Manager That Can Help You Get Paid More
Coming to the skills of a product manager, it goes without saying that your abilities have a direct effect on your work performance and therefore on your product manager's salary.
If you possess certain technical skills as a product manager, it can most definitely help you get paid more.
Moreover, if you strategically showcase these skills in your product manager resume, rest assured, you can negotiate your pay accordingly.
Another plus point of adding these skills to your resume is that by doing so, your resume becomes ATS-compliant. (Application Tracking Software or ATS is used by the majority of employers to filter out the most relevant resumes for vacancies)
Here are some skills that you might want to consider honing, to ask for a raise in your product manager salary or to negotiate a good wage at the beginning of your employment by showcasing it in your resume:
- Agile Methodologies
- A/B Testing
- Product Roadmap Development Oversight
- Product Research
- Data Analysis
- Data Compilation & Management
- Technical Writing
- Product Marketing
Now, the question here is, how can you acquire or polish these skills?
The answer is simple. Get certified by taking a combination or any one of the following courses for product managers:
- Technical PM by Product Manager HQ
- Agile Certified Product Manager Credentials (CPM) by AIPMM
- Product Management Program by Berkeley Executive Education
- Digital Product Management by EdX and Boston University
- Professional Scrum Foundations Training by Scrum.org
- Brand and Product Manager Certification by Coursera
- Product managers are part of every phase of the product lifecycle. Right from its development to marketing.
- The average yearly salary of a product manager in the US is $95,950. While in India, product managers earn about INR 15.6 lakhs.
- Product manager salary can widely vary depending on their location, company, industry, skills, and experience level.
- The average junior product manager salary leverages up to $106,617 on a yearly basis.
- San Diego, San Francisco, and Seattle are among the highest paying US cities for product managers.
- The median senior product manager salary accounts for a whopping $114,360 per annum.
- Showcasing in-demand skills in your product manager resume can help you get paid more.
- You can hone your product manager skills by taking certificate courses.