Every product that we use in our lives, from our mobile phones to the office coffee machine, goes through a long journey before it reaches us. The process of product creation begins with the inception of an idea. This idea is further tested and analyzed with the help of consumer research. Then, the product design is implemented, and eventually, the product is developed to be launched in the market. Product management refers to the practice of driving the process of product creation, development, and market launch. It also extends to further improve the product in alignment with the customer’s feedback and reactions.

Product management is a multidisciplinary field that requires collaboration across teams and departments. It requires organizing, planning, production, and marketing before the product is ready for launch. And you'll be rewarded for all those high-level responsibilities.

Here's the complete breakdown of how much you can expect to make in beginning, mid-level, and senior product management roles.

Which Tech Career is Right for You?

Ready to change your career and join the world’s next workforce? At Thinkful, we’ve got your back with various tech programs to get you equipped with in-demand skills.

Product Manager Salaries

A job in product management is one of the most sought-after jobs today. A career in product management is a safe bet as it’s a field that will continuously grow and evolve, and it will challenge your skills and knowledge.

Product managers are well-paid and have a high level of job satisfaction. It’s been deemed as one of the top ten best jobs in the United States. A job in product management is also coveted because of its high salary. The average compensation for product managers across various positions can range from $61,000 to $200,000+ per year.

However, the salary depends on multiple factors like:

Salaries According to Experience And Position

Seniority and experience drive annual compensation to a large degree, regardless of the industry. We’ve created a list of different job positions in product management from entry-level to the topmost level and their salaries in detail below.

Education Options for Product Management

For A Bachelor’s Degree – A bachelor’s in disciplines like computer science, finance, or business can help you build your foundation for the skills that you’ll need to manage a product in the future.

The median salary for graduates is $101,000 per year.

For A Master’s Degree – With an MBA degree, you can directly get hired as a product manager.

The median salary for postgraduates is $108,000 per year.

Salaries According to Location

Location is also an important factor that affects the average compensation for product managers. However, before moving to a higher-paying city, keep in mind other factors like state taxes and the cost of living.

Salary Based on Industry

Certain industries like aviation and healthcare pay higher compensation to product managers compared to the legal and finance industry. Some of the highest-paying industries for product managers include:

Salaries According to Company

Salaries also differ based on the companies that you choose to work for. Some of the highest-paying companies for product managers include:

Perks of Being A Product Manager

As you can see, product management can be an extremely high-paying and rewarding career. But to keep your memory fresh, here are some of the advantages of pursuing a career in product management:

Product management is a secure career for those who are skilled in the right areas. If you feel like you need more help to gain the necessary skills, Thinkful’s Product Management course is the perfect opportunity for you. You don’t pay a cent until you’re hired because Thinkful’s so confident that you’ll land a job you love after taking their course.

If you’d like to know a bit more about the world of product management before embarking on your new career, then check out our resources for aspiring product managers. It covers a huge range of valuable topics that’ll help you excel. You deserve to work in your dream career, and we want to help you get there.


How do I get into product management?

You can get into the field of product management by learning about various products and gathering information to grow your product skills. In addition to this, you need to develop excellent communication skills, data-driven skills, leadership skills and good technical abilities.

Will a degree help me make more money?

While employers don’t require any specific bachelor’s degree, potential candidates still need substantial business knowledge. This helps in systematically gaining knowledge and skills. Aspiring product managers also need to focus on areas such as communication, economics, marketing, public relations, statistics, advertising and management. Fortunately, many educational pathways can teach these skills in less time (and for a lot less money) than a traditional college degree.

How much do Thinkful grads make?

Product management is a well-paid job and has a high level of job satisfaction. The product manager’s salary is primarily based on years of experience, job location and skills. The average annual salary for product managers can range from $61,000 to $200,000 per year.

Which Tech Career is Right for You?

Ready to change your career and join the world’s next workforce? At Thinkful, we’ve got your back with various tech programs to get you equipped with in-demand skills.

Share this article