What İs A Product Manager? Product Manager Salary
Product Management, which becomes even more crucial in today’s fast-paced and highly competitive conditions, is a business concept that aims to enable companies to bring their goods or services to market quickly and cost-effectively without compromising on quality. It encompasses the organization, maintenance, and control of all production activities within a business.
While the external focus is often on the sales efforts of brands, much more goes into Product Management behind the scenes. Sector, brand, and the product itself form the foundations of Product Management.
Within the scope of Product Management, supply management holds a significant place. The Product Manager is responsible for a range of tasks that begin with researching, identifying, communicating, and managing suppliers and continue with processes such as inventory planning and pricing. In some organizations, this role may also be referred to as a Category Manager or Brand Manager.
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How much does a Product Manager make United States 2023
In the United States, the average annual salary for a Product Manager is $153,698. If you need a simple salary calculator, it would amount to approximately $73.89 per hour. This is equivalent to $2,955 per week or $12,808 per month. While Product Managers can see salaries as high as $197,500 per year and as low as $39,000 per year, the majority of Product Manager salaries currently range between $130,000 (25th percentile) and $175,000 (75th percentile), with the top earners (90th percentile) earning $197,000 annually in the United States. The average salary range for a Product Manager varies very little (around $45,000), indicating limited opportunities for increased pay or advancement regardless of location, even with several years of experience.
| State | Annual Salary | Hourly Wage |
| Minnesota Product Manager Salary | $168,372 | $80.95 |
| Nevada Product Manager Salary | $168,188 | $80.86 |
| Massachusetts Product Manager Salary | $166,747 | $80.17 |
| Oregon Product Manager Salary | $165,579 | $79.61 |
| Hawaii Product Manager Salary | $162,991 | $78.36 |
| Iowa Product Manager Salary | $160,786 | $77.30 |
| Washington Product Manager Salary | $159,388 | $76.63 |
| Alaska Product Manager Salary | $159,076 | $76.48 |
| New York Product Manager Salary | $157,803 | $75.87 |
| Ohio Product Manager Salary | $157,267 | $75.61 |
| Connecticut Product Manager Salary | $157,129 | $75.54 |
| Rhode Island Product Manager Salary | $156,395 | $75.19 |
| South Dakota Product Manager Salary | $155,806 | $74.91 |
| North Dakota Product Manager Salary | $155,689 | $74.85 |
| Tennessee Product Manager Salary | $153,943 | $74.01 |
| Utah Product Manager Salary | $152,772 | $73.45 |
| California Product Manager Salary | $148,412 | $71.35 |
| Illinois Product Manager Salary | $147,221 | $70.78 |
| Mississippi Product Manager Salary | $144,867 | $69.65 |
| Maryland Product Manager Salary | $143,458 | $68.97 |
| Virginia Product Manager Salary | $143,430 | $68.96 |
| Wisconsin Product Manager Salary | $142,713 | $68.61 |
| New Jersey Product Manager Salary | $142,051 | $68.29 |
| Colorado Product Manager Salary | $141,532 | $68.04 |
| Delaware Product Manager Salary | $141,427 | $67.99 |
| Vermont Product Manager Salary | $141,173 | $67.87 |
| Louisiana Product Manager Salary | $140,383 | $67.49 |
| Kansas Product Manager Salary | $139,214 | $66.93 |
| South Carolina Product Manager Salary | $136,323 | $65.54 |
| Oklahoma Product Manager Salary | $136,269 | $65.51 |
| Maine Product Manager Salary | $135,721 | $65.25 |
| Michigan Product Manager Salary | $135,343 | $65.07 |
| Wyoming Product Manager Salary | $135,082 | $64.94 |
| Indiana Product Manager Salary | $134,435 | $64.63 |
| Arizona Product Manager Salary | $134,391 | $64.61 |
| Missouri Product Manager Salary | $134,200 | $64.52 |
| Georgia Product Manager Salary | $132,112 | $63.52 |
| Pennsylvania | $132,043 | $63.48 |
| Texas Product Manager Salary | $131,815 | $63.37 |
| New Hampshire Product Manager Salary | $131,608 | $63.27 |
| Nebraska Product Manager Salary | $129,968 | $62.49 |
| New Mexico Product Manager Salary | $129,152 | $62.09 |
| Montana Product Manager Salary | $128,933 | $61.99 |
| Idaho Product Manager Salary | $127,837 | $61.46 |
| Kentucky Product Manager Salary | $126,202 | $60.67 |
| North Carolina Product Manager Salary | $124,468 | $59.84 |
| Arkansas Product Manager Salary | $123,776 | $59.51 |
| West Virginia Product Manager Salary | $113,775 | $54.70 |
| Alabama Product Manager Salary | $113,572 | $54.60 |
| Florida Product Manager Salary | $113,455 | $54.55 |
Top Paying Companies For Product Manager in United States
| Google Produst Manager Salary | $276,160 |
| Meta Produst Manager Salary | $262,171 |
| Wish Produst Manager Salary | $261,163 |
| Twitter Produst Manager Salary | $258,609 |
| Tencent Produst Manager Salary | $253,785 |
| Stripe Produst Manager Salary | $249,952 |
| Pinterest Produst Manager Salary | $249,564 |
| Amazon Web Services Produst Manager Salary | $247,236 |
| Gigster Produst Manager Salary | $243,656 |
| Reddit Produst Manager Salary | $240,836 |
| Microsoft Produst Manager Salary | $214,457 |
| LinkedIn Produst Manager Salary | $210,510 |
Salaries along the Product Manager career path
Product management can be a significant determinant of salary ranges based on seniority. However, it is not necessary to have ten years of experience to become a product manager in the rapidly growing technology sector. You can start your product management career as an associate product manager or gain experience in related roles. As you progress and gain more experience, you can transition to positions such as product manager, senior product manager, director of product management, vice president of product management, and chief product officer. Salaries generally increase based on the responsibilities and experience levels associated with these roles.
Assistant Product Manager: $77,000
The easiest way for new graduates or career changers to enter the field of product management is by starting as an associate product manager in a company. This position is typically an entry-level role that does not require a university degree or prior work experience. Large companies have even begun hiring fresh graduates from universities to fill product management positions.
Product Manager:$128,000
Typically, three to five years of relevant experience is considered sufficient for a product manager role, such as assistant product manager or a related role. Having this experience often results in a salary increase. New graduates with an MBA or advanced degrees in technology can bypass the associate product manager role and start their careers directly as product managers. However, individuals without relevant work experience may likely receive a salary lower than the average. Nonetheless, this can still be higher than many available jobs for new graduates.
Senior Product Manager: $175,000
Product managers generally become senior product managers after having about five to eight years of experience in a product management role. Senior product managers may have greater responsibilities, such as managing multiple products or the entire product portfolio. In this position, they collaborate with the product team to make strategic management decisions and interact with various stakeholders to ensure the overall success of the product.
Product Management Director: $255,000
Many companies require a product manager at the executive level to have over seven years of experience in both product management and personnel management. Additionally, companies often seek industry-specific expertise. For example, a B2B SaaS company may look for an executive with experience in delivering SaaS products to consumers. A product management director leads a team of product managers and may also be part of the overall leadership team in smaller companies.
Vice President of Product Management: $275,000
The Vice President of Product Management is typically a member of the leadership team and owns the product vision for the company. They are also responsible for guiding and growing the product team. During the hiring process, most companies look for leadership experience and industry-specific expertise for this role. The salary for a senior product management role can vary significantly. Start-ups and smaller companies may not be able to offer high salaries, but they may provide equity options. On the other hand, corporate companies often offer generous salaries, performance bonuses, and profit-sharing packages.
Head of Product: $297,000
The CPO (Chief Product Officer) is an increasingly important executive role in large businesses. The CPO typically reports directly to the CEO and is responsible for the entire product management organization within a company. This role involves determining the overall product strategy and ensuring that it aligns with the company’s vision and goals. While the average base salary for CPOs is slightly above $200,000, their total compensation packages can reach higher levels with annual bonuses and stock options.
