What is a product manager?
Imagine a product manager as the captain of a ship—except the ship is a cool product, and the sea is the business world! These pros are all about making sure their product rocks, from start to finish. They know everything about the product and work to make it as awesome as possible for everyone who uses it.
Duties and responsibilities
- Big picture boss: They come up with the game plan for the product, deciding what it should do and how to make it happen. They keep an eye on what’s hot in the market and make sure the product fits the company’s big goals.
- Team coordinator: They’re the glue that holds everyone together. From engineers who build the product to marketers who sell it, the product manager makes sure everyone is on the same page.
- Success tracker: They’re always checking to see how the product is doing and making sure it hits all its targets.
Work environment
Product managers usually hustle in a buzzing office vibe, but they might also rock the remote work scene, especially in tech companies. They might travel to cool places like trade shows, meet with clients, or check out other company spots.
Typical work hours
They typically work a regular 40-hour week, but sometimes they’ve got to put in extra time to meet deadlines or fix any surprises that pop up with the product. Despite the hustle, many companies make sure there’s still time for fun and family.
How to become a product manager
Becoming a product manager is like training to be a superhero for products! Here’s how you can gear up for this exciting role:
Step 1: Hit the books
Start your journey with a bachelor’s degree in business, marketing, economics, or something similar. These courses are like your training montage, where you learn all about business, what makes customers tick, and how to figure out what people want.
Step 2: Get your feet wet
Jump into the work world with some entry-level gigs in business or marketing. This is your first mission, where you’ll pick up cool skills like how to manage projects, analyze market trends, and sell stuff.
Step 3: Level up your skills
As you work, keep leveling up your skills. Focus on becoming a strategic thinker, a project management pro, and a communication wizard. Also, get comfy with data analysis tools—they’re like your gadgets for making smart decisions.
Step 4: Consider a master’s degree (it’s optional)
Want to really stand out? A master’s degree in business administration (MBA) could be your next big step. It’s like going to superhero school to learn deeper secrets about product development and business strategy.
Step 5: Specialize in product stuff
Before you take on the main product manager role, try jobs like assistant product manager or product analyst. These roles are your side quests where you learn the tricks of the trade up close.
Step 6: Get certified
Bag some cool certifications to show you’re serious. Look into the Certified Product Manager (CPM) or Pragmatic Marketing Certification. They’re like badges that prove your product managing expertise.
Step 7: Apply for the big league
Now, with all the right moves, degrees, experience, and badges, you’re ready to apply for product manager roles. Make sure your resume shines with all your achievements, and prep for interviews where you’ll show off your problem-solving skills.
How much do product managers make?
Product manager salaries vary by experience, industry, education, location, and organization size. The specific blend of skills such as strategic planning, competitive analysis, and knowledge of product lifecycle can also significantly influence their pay.
Highest paying industries
- Software Publishers: $130,610
- Securities and Commodity Contracts: $128,750
- Data Processing and Hosting: $124,830
- Computer and Peripheral Equipment Manufacturing: $123,710
- Computer Systems Design and Related Services: $121,830
Highest paying states
- California: $131,700
- Washington: $129,210
- New York: $125,430
- New Jersey: $123,850
- Virginia: $122,540
The average national salary for a Product Manager is:
$120,700
Types of product managers
Thinking about a career in product management? Here are some awesome types of product managers that you might want to check out:
Technical product manager
Imagine being the bridge between tech-speak and business goals—that’s what a technical product manager does. With a background in something techy like computer science or engineering, they design products that fit perfectly with what the company wants to achieve. It’s a bit like being a tech wizard who also speaks the language of business.
Product marketing manager
This role is all about shouting from the rooftops about how great a product is. A product marketing manager dives into what customers want, figures out what makes the product special, and then plans super smart campaigns to tell the world about it. They’re the ones making sure everyone knows why they should buy the product.
Digital product manager
Got a thing for the online world? A digital product manager focuses on products that live on screens—think apps and digital platforms. They make sure these products are easy to use and meet business goals, which is super important now that we’re all about digital life.
Product owner
In teams that use Agile or Scrum (which are ways to manage projects), the product owner is the boss of the product’s to-do list. They decide what the development team should work on next to make sure the product rocks for customers. They keep everyone on track and make sure the product fits what users need and want.
Top skills for product managers
Want to be a product manager? Here are some skills you’ll need to excel and make a big splash in the world of products:
Analytical abilities
Think of yourself as a detective for products. You’ll need to dive into complex problems, analyze data, and pull out solutions that make sense. Being able to break down tricky issues and make smart decisions based on data is super important.
Communication skills
Whether you’re chatting up techies or non-tech folks, your ability to get your ideas across clearly is key. From snazzy presentations to detailed project plans, how you talk and write about your product can really make or break its success.
Leadership
You’re kind of like the captain of a ship. You need to steer your team toward exciting goals, keep everyone motivated, and smooth over any squabbles. Plus, you’ll need to charm other big players in the company to get them on board with your visions.
Customer-centric mindset
Always think about what the customer wants. Getting into the minds of your users to understand their needs and worries is crucial. You’re crafting a product that’s meant to solve their problems and make their day better, so knowing what makes them tick is a must.
Technical proficiency
No need to be a coding genius, but you should definitely get how technology works. Knowing the nuts and bolts of the systems and tools your product uses means you can make smarter choices about what’s possible and what it’ll take to get your product out there.
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Browse our national database of product manager job openings and apply today
Product manager career path
Starting as a product manager is just the beginning. As you grow in your career, snag more skills, and prove you’re a leader, you can move up to some pretty exciting roles:
Senior product manager
First up after rocking the product manager gig is becoming a senior product manager. This role calls for even sharper strategic thinking and the chops to lead other product managers. Nail this, and more doors will swing open.
Head of product or product director
Dream bigger? Aim for head of product or product director in big companies. Here, you’ll manage multiple product lines and craft strategies that align with what the top bosses want. It’s a big step up, with lots of responsibility.
Vice president of product
Got your eyes on the executive suite? Vice president of product is your next stop. This big-league role means overseeing the whole product show, making sure everything syncs up with the company’s big goals and what the market wants.
Chief product officer (CPO)
At the top of the product world is the chief product officer. As a CPO, you call the shots on all things product. It’s a major role where you influence the company’s direction and make moves that matter.
Similar job titles
Position trends and outlook for product managers
- Keeping up: In the fast-moving worlds of tech and business, product managers are super important. They keep up with what users want, stay flexible in how they work, and often team up across different parts of the company; it’s all about being agile and user-focused.
- Data is king: Lately, being a data whiz is part of the job. These managers use cool data analytics tools to make smart decisions and really understand what makes a product tick so they can create stuff that people actually want and love.
Employment projections
Looking ahead, the need for product managers is set to grow. The Bureau of Labor Statistics says management jobs, including product managers, will increase by 6% through 2031. As more companies pop up and grow, they’ll need more pros to handle all kinds of product tasks.
Product manager career tips
Know your product like the back of your hand
Dive deep into everything about your product. Understand not just what it does but how it does it, who wants it, and why it’s better than the rest. Also, see how it fits into what your company overall wants to achieve. Knowing all this helps you make smart moves that can lead to big wins.
Build a killer network
Connect with others who are rocking the product world. Networking can help you learn from others, find great mentors, and maybe even stumble upon some exciting job opportunities. To get started, check out groups like:
- Product Development and Management Association (PDMA)
- Association of International Product Marketing and Management (AIPMM)
- Product Managers Association (PMA)
Never stop learning
The world of product management keeps changing, so keep your skills sharp and your knowledge up-to-date. Think about grabbing some cool certifications like Certified Product Manager or taking courses in Agile management or data analysis.
Lead like a boss
Since you’ll be guiding teams, strong leadership skills are a must. You should be able to inspire your team, clear up any issues, and make decisions that keep things moving smoothly. Consider joining workshops or seminars to boost your leadership game.
Where the product management jobs are
Top employers
- Amazon
- Microsoft
- Apple
Top states
- California
- Washington
- Texas
- New York
- Massachusetts
Top job sites
- zengig
- Indeed
- Monster
- ZipRecruiter
FAQs
What is the role of a product manager in a company?
In a business setting, they oversee all aspects of a product or product line, from conceptual design to customer feedback. They’re often in charge of gathering consumer insight, making sure their products meet the needs of the market, and coordinating with various teams, including marketing, sales, production, and engineering. They also usually keep tabs on competition and market trends.
What skills are needed for product management?
There are several core abilities you need in this field. These include excellent communication skills, problem-solving abilities, the ability to think strategically, and strong leadership skills. Prospective managers must also understand the market and competition, as well as the technical capacity to manage the entire product development process. Knowledge in data analysis and project management is also helpful.
What is a typical workday like?
A typical day varies widely depending on the phase of products under their control. Common tasks can include meeting with team members, drafting product plans, conducting market research, liaising with stakeholders, checking on product development progress, testing product prototypes, reviewing customer feedback, or preparing for product release.
What type of education is required?
A bachelor’s degree in business, marketing, economics, or a related field is generally expected. However, because this role is highly interdisciplinary, degrees in engineering, computer science, or design can also be beneficial. Additionally, some positions may prefer or require an MBA due to the leadership component of this role.
What type of companies need product managers?
Both small and large businesses that produce goods or services can benefit from having a dedicated individual overseeing product development and management. This is particularly the case for tech and software companies, manufacturing firms, retail brands, pharmaceutical companies, and any other businesses that design and launch products on a regular basis.
What tools do product managers use?
These pros use various tools to organize, track progress, communicate with team members, and analyze data. These can include project management software like Trello or JIRA, communication platforms like Slack, data analytics tools like Google Analytics or Tableau, and customer feedback tools like SurveyMonkey.
What are the challenges faced by product managers?
This profession often faces tight deadlines, scope creep, shifting markets, managing disparate teams, and bridging gaps between customer needs and business goals. They may also encounter difficulties in managing priorities, balancing resources between various projects, and meeting stakeholders’ expectations. To succeed, they must stay focused, flexible and consistently communicate with all parties involved.
How to start a career in product management?
Starting a career in this field often requires a mix of academic qualifications, work experience, and soft skills. Gaining industry exposure through internships or entry-level positions in marketing, sales, or project management can be beneficial. Attending networking events and seeking mentorship from existing professionals in the field can also aid in breaking into the industry. Lastly, dedicating time to understanding the latest market trends and customer behaviors can set you ahead of the competition.