PRODUCT MANAGER: Job Description and Salary updated

Product manager
Photo Credit: the interview guy

The product manager’s job is one of the most unpopular jobs and still among the top 10 paying jobs in the Us. Nevertheless, without them, a product lifecycle will be short-lived. However, they identify the customer need and the larger business goals that a product will satisfy. Also, this article will discuss what does a product manager does and also his salary. However, we will also discuss some of the interview questions often ask a prospective product manager.

Photo Credit: The Clever PM

However, if you are looking forward on being a product manger, this is the right article for you.

Shall we begin?

What is a Product Manager

 Newbies define a product manger as someone who help organizations decide what products to develop and help teams deliver those products.

Nevertheless, a product manager is a person who gives the expertise needed to operate and make strategic product decisions. However, he is responsible for a lot of things concerning the product. He identifies the customer need and the larger business goals that a product will satisfy. Also, he explains what progress looks like for a product and gathers a team to turn that vision into a reality. 

Furthermore, they have a key role in producing high-quality products. Also, they perform three major functions-  Strategy, Execution, and User Understanding. First, they decide what products to make. Secondly, they ensure that those products are developed. Finally, they report back user’s responses to the products. 

Types of Product Managers 

There are various types of product management roles. Basically, the larger the company and its portfolio, the more product managers it may require. However, here are the various product mangers roles.

Product manager

They manages the whole product lifecycle from creation to end

Product Owners

Also, they assist the development team by prioritizing the product reserve and generating user stories.

Growth product manager

They, present business outcomes — growth, customer retention, revenue, among others. 

Platform product manager

They are in charge of designing and optimizing technical components shared across multiple products

Technical product manager

They Work hand in hand with the engineering team on core designations and product functionality

What does a Product Manager Do?

Even though we have answered this question during our course of discussing what is a product manager. Let’s go further by discussing in detail what does a product manager does. 

However, here are several functions a product manger does.

Strategy Setting

They are responsible for setting the product’s vision and strategic management. Also, he is able to simply explain the business case of a given action. Hence the team understands why he is building it.

However, Strategic planning involves setting out significant areas of investment in the order of priority to achieve the product goals. Additionally, they also own the product roadmap — a timeline that reflects what to deliver and when.

Product Definition

They turn product strategy into planned work by defining what they will create and when it will be launched. However, this must occur despite which development methodology the engineering team uses.

They are also responsible for controlling the release process and cross-functional territories. However, these are all of the activities needed to bring new innovations and functionality to the market.

Nevertheless, it involves bridging gaps between various functions within the company and joining key teams — including marketing, sales, and customer support.

Evaluating Ideas

Truly, every organization wants great ideas for its product. However, product managers are responsible for crowdsourcing and developing ideas that will give value to customers.

Also, they ensure that feedbacks are mixed into the product planning and development processes. Furthermore, they relate the state of ideas back to their customers, partners, and internal teammates who presented them.

Nevertheless, there are other job descriptions but for this article we end here. Now, let’s discuss the product manager salary.

Product Manager Salary

Glassdoor recently listed product manger as one of the top 10 best jobs in America. However, this is because the job is crucial, well paid, and offers good opportunities for career progression..

People often ask about the salary scale of a product manager. Sometimes they ask if they are being paid well. We do not blame them for asking because a job as a product manager isn’t that popular. However, the answer is yes.  According to  Glassdoor, average salaries among product managers range from $63,000 to over $200,000.

Nevertheless, these salaries vary according to different factors like seniority, location, industry among others.

According to seniority

PositionSalary scale
Associate product manager$96,000
Product manager$109,000
Senior product manager$124,000
Director of product management$149,000
Chief product officer (CPO)$194,000

However, according to location

LocationSalary scale
Los Angeles$108,000
San Francisco$129,000
Seattle$119,000
Chicago$99,000
New York$107,000

According to the industry

IndustrySalary scale
Aerospace and defense$106,000
Banking and financial services$98,000
Computer software$107,000
Information technology$104,000
Internet and tech$116,000

Nevertheless, All salary information was reported by Glassdoor in July 2020.

Now, lets discuss some of the product manager interview questions.

Product Manager Interview Questions

The types of questions you can anticipate to be asked in a Product Management interview are vast and varied. However, you’ll be asked some of the following:

Photo Credit: Mediabistro
  1. How do you stay user-focused?
  2. What do you see as a Product Manager’s main role within product development?
  3. How do you see your career developing in the next 5 years?
  4. What main changes would you make to [our product]?
  5. How would you improve your favorite product?
  6. What’s your approach to prioritizing tasks?
  7. How do you see your career developing in the next 5 years?
  8. Tell us about a time you used data to influence an important stakeholder.
  9. Why do you want to work at [our company]?
  10. Tell us about a time you faced failure and how you bounced back.
  11. Why do you want to be/what do you love about being a Product Manager?

Conclusion

In conclusion, a product manager is a person who gives the expertise needed to manage and make strategic product decisions. However, he is responsible for a lot of things concerning the product.

PRODUCT MANAGER FAQ

What product manager do?

Product managers does this:

  • Strategy Setting
  • Product Definition
  • Evaluating Ideas

Do product managers get paid well?

However, the answer is yes.  According to  Glassdoor, average salaries among product managers range from $63,000 to o

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