Product Manager Salary

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Specialists in the Product Manager segment are in demand both in emerging markets and in countries with a high level of employment of IT specialists. Depending on the region and degree of training, the annual salary for a product manager ranges from $95,000 to $190,000. The top super companies – Google, Facebook, Amazon, and Microsoft – offer a high-level product manager salary in the range of $162,000 – $218,000 per year.

The growing interest in the profession is reflected in the Google Trends service. Over the past five years, the number of searches for “product manager salary” in the search engine has steadily increased. In terms of the popularity of the specialty, the leaders are China, Singapore, and the USA. Product management booms are seen in Europe, Australia, and New Zealand. On almost all the continents, the “product manager” profession is one of the highest-paid.

Specialists are often looking for work based on remote cooperation – in recent years, the growth of such requests has reached + 2500%. In addition, the advancement of artificial intelligence technologies has led to an active demand for product managers in neural networks. As a result, total AI Product Manager searches increased 850%.

Entry-level Product Manager salary

Who is responsible for creating and launching products? Of course, the product manager! Strategy and concept, development management, the definition of functional requirements – a product manager does not get bored at work 🙂

33% of applicants for this position have minimal experience. In October 2021, the median salary for an aspiring product manager in the USA was $50,332 per year. The base salary does not include company bonuses or bonuses sometimes awarded to employees for special merit.

In different regions, the salary of a product manager varies, with the difference reaching 7%. In New York, employers offer the most attractive entry-level managerial pay, averaging $59,768 per year. Many projects and startups are launched here, so product management specialists are in great demand. When looking for a job, it is advisable to consider moving to these cities to increase your income:

  • In San Mateo, a product manager earns an average of $58,568 per year.
  • In Juneau – about $56,975.
  • Boston – $56,937.
  • In Minneapolis – $55,267.

The difference is due to the more affordable standard of living. Although, the number of vacancies here is small. Remember: mastering additional special skills will help you earn more, even at the entry-level.

Junior Product Manager salary

The average salary for a junior product manager is around $62,000 per year. Several aspects predetermine the salary of a Junior specialist: race, employee education, and the prestige of the company in which he is employed. For example, the difference in pay for men and women in this specialty varies around $4000 per year in the USA. Asian people get more than African Americans. The salary gap can be as high as $10,000 per year. Employees with a master’s degree can expect an increase of $10,000. And managers with only a bachelor’s degree, accordingly, receive almost $1000 less per month.

The level of the company also affects the employee’s income. Below are the top employers offering high salaries for junior product managers:

  • Citizens Financial Group – $77,353 per year.
  • Citizens Bank – $74,370.
  • Take-Two Interactive Software – $67,981
  • Softheon – $64,480
  • BGC Partners – $64,271
  • Nielsen Holdings – $60,319

Junior Product Managers are in demand in the most profitable and important business sectors: pharmaceuticals, industry, software development, finance, and many others. Therefore, in the present, there is a tendency for a small but steady increase in wages for junior managers. Three years ago, the numbers fluctuated within 3% per year, and in the last two – the payment increased by 1.5-2%.

The easiest way to earn the most as a junior manager is in New York State, where the average employee is offered $77,369 per year. On the other hand, in the state of Wyoming, a beginner can count on $31,459.

TownPayment per hourPay per weekPayment per monthPayment per year
Bayonne, NJ$26$1 025$4 100$50 000
Ocoee, FL$29$1 150$4 600$55 000
Indianapolis$21$844$3 375$40 500
Nampa, ID$27$1 083$4 333$52 000
Braintree, MA$25$1 000$4 000$48 000
Fort Wayne$20$791$3 166$38 000
Castle Rock, CO$27$1 089$4 358$52 300
San Antonio, TX$28$1 125$4 500$54 000
Carrollton$21$833$3 333$40 000
Evansville$22$854$3 417$41 000

Compare average salaries across states – they also vary.

TownPayment per hourPay per weekPayment per monthPayment per year
Burlingame, CA$55$2 200$8 800$105 600
Phoenix, AZ$38$1 510$6 041$72 500
Germantown, MD$43$1 708$6 833$82 000
San Mateo, CA$51$2 029$8 117$97 400
Seattle, WA$38$1 521$6 083$73 000
Portland, OR$36$1 452$5 808$69 700
Menlo Park, CA$39$1 563$6 250$75 000
Redwood City, CA$46$1 833$7 333$88 000
Scottsdale, AZ$42$1 694$6 775$81 300
Oakland, CA$41$1 625$6 500$78 000

Mid-level Product Manager salary

The salary of an average specialist varies between $120-130,000 per year. The highest salary is received by employees of large companies with more than 500 employees.

The gender of an employee in this area has practically no effect on the amount of salary. But work experience gives a significant increase – the more, the better. Employees with more than seven years of experience earn $40,000 more per year than beginners.

In addition to material incentives, the Mid-level product manager often has additional benefits from the employer:

  • Gym membership or gym equipment in the office.
  • Parental leave, family vacation.
  • Insurance and other promotions.

Additional experience in software development can significantly affect the salary of a mid level product manager. You can count on a premium to the basic rate if you know the following areas:

  • IT security and infrastructure.
  • IT consultations.
  • Big Data analytics.
  • Corporate solutions.
  • Machine learning.

San Francisco, Redmond, Seattle, New York, and San Jose are the top five states with the highest wages for mid-skilled specialists. In addition, 65% of middle-level product managers in the USA are satisfied with their income and believe that their salary is sufficient for a comfortable life in the region.

Among the largest giant companies interested in Mid-level professionals:

  • Juniper Networks – $191,784 per year.
  • Oracle – $169,816
  • Google – $160,912
  • Facebook – $165,811
  • Boeing – $161,534

This confirms the opinion that a specialty is needed not only in the IT industry but also far beyond its borders.

TownPayment per hour, $Pay per week, $Payment per month, $Payment per year, $
San Francisco, CA124,27553.022,2538,717
Redmond, WA115,27550.492,1458,300
Seattle, WA114,20749.322,0958,107
New York, NY113,14648.992,0818,053
San Jose, CA111,95747.962,0387,885
Chicago, IL103,07944.471,8897,311
Atlanta, GA101,81543.711,8577,185
Houston, TX96,67042.421,8026,974

Senior Product Manager salary

The average salary in the USA for the position of Senior Product Manager is about $143,000 per year. With the additional incentives that usually come with this position, it can reach $155,000. As in other areas, with the acquisition of experience, the employee can count on a pay increase.

In addition to cash payments, specialists of this level get more attention paid to their health. They are provided with special conditions for visiting medical institutions, dentistry, ophthalmology, and other specialists.

Men dominate the positions of Senior Product Manager, and they represent almost 60% of the total number of specialists in the country. The fair sex is represented by a little less than 40%. A Senior Product Manager is rated as high as possible in San Francisco and California, and minimum in Chicago.

The additional skills of a specialist also influence the final level of remuneration. Knowledge of programming, experience with artificial intelligence, and bio-equipment increase remuneration by 7-20%.

The position of Senior Product Manager has a career opportunity – an experienced employee can “grow” into a product director, vice president of product or marketing. To move up the corporate ladder, you need to have a high level of responsibility, have a significant library of skills, and the ability to work effectively with the product.

The companies that require qualified senior managers are representatives of the pharmaceutical industry, software and device development, production and sale of textiles, large commercial online sites, and many others.

TownPayment per hour, $Pay per week, $Payment per month, $Payment per year, $
San Francisco, CA153,61273.852,95412,835
Redwood, CA155,76474.892,99513,015
Seattle, WA156,88775.433,01713,109
New York, NY186,27389.553,58215,565
San Jose, CA180,07486.573,46315,046
Chicago, IL152,22273.182,92712,719
Atlanta, GA141,93468.242,72911,860
Houston, TX147,07370.702,82812,289

Conclusion

The salary of a product manager depends on several main factors: the preparedness of the specialist, his education and certification, the standard of living in the selected region. Almost all over the world, a Product Manager is a highly sought-after specialist with career prospects and decent remuneration for work. Use the calculator to find out the market value of your skills and estimate the expected pay you can get. You will get an objective result by entering data on experience, education, position.

Article by:
CEO Andrew Chornyy

CEO Plerdy — expert in SEO&CRO with over 11 years of experience.

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