#Associate product manager salary how to#
Strategic skills – This is required to have a long-term vision of where your product is and where you want it to get to, and you also have a plan for how to get there.
Execution skills – This is required to keep the team running successfully, which is essential in delivering a bug-free product on time.Product skills – This is required to design and deliver a great product.
Let us discuss the skills product managers need to have: Different companies need product managers for different needs, and thus they hire people with various qualifications depending on the necessity. A product manager's role is like filling in the white space. Depending on the company, some companies prefer product managers who have gone to business schools, and some companies prefer product managers with a technical background. There is no minimum qualification to apply for the role of a product manager. What Qualifications Does a Product Manager Need? A product manager uses credibility and not authority to lead the team. They are members of the core feature team, and they will be working with the designers and engineers to ship great products. Who Is a Product Manager?Ī product manager is like the captain of the ship or a mini-CEO of the product, and they need to be involved in everything right from the big picture to the tiniest of details related to the product. Although other sectors like telecom, retail, media & entertainment also offer lucrative product management roles. It is not surprising that tech companies pay product managers the highest salaries. This further increases in the form of increments as the experience increases. Coming to the salary earned by product managers in India, the entry-level median base salary of ₹10 lakhs per annum goes up to ₹23 lakhs per annum. They earn a minimum starting salary of ₹16 lakhs per annum, excluding bonuses and other components.
The highest median base salary offered to a product manager to work outside India by companies like Amazon, Microsoft, Flipkart, and Paytm, which regularly hire top MBAs from campus selection in premium business schools, is about ₹38 lakhs per annum. Due to the high demand, this profile is one of the highest-paying jobs in the corporate field.Īlso Read: What is Bank Manager Salary in India?Īn MBA graduate from India can earn an average salary of around ₹15.2 lakhs per year, and this excludes the other salary components like bonuses and other perks. Product management salary in India is relatively high depending on the organisation you work with. Less than a third of a product manager's time is spent on strategy. Renowned CEOs like Indra Nooyi, Satya Nadella, and Sundar Pichai were all product managers at different levels of seniority at some point in their careers. One of them is that product management as a career also serves as a training ground for future CEOs. There are reasons why product managers are called mini CEOs. Product managers own the decisions about what gets built and influence every aspect of how it gets built and launched. Product managers are the glue that binds many functions associated with a product like engineering, designing, sales, customer success, finance, marketing operations, legal, and many more. refers to the product managers as mini CEOs. It doesn't come as a surprise that such a heavy-weight job profile attracts a good salary and makes product management the most well paid and rewarding job in the corporate sector. Every decision you make as a product manager can influence the behaviour of millions of people using your product. As we all know, product management is one of the most influential careers in the corporate world.
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