Product managers use their skills and expertise to prepare products for the market. From product development to launch, product managers help a company create successful strategies for marketing items that meet consumers’ needs. Learning about the product manager career path can help you determine if this role is right for you.
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In this article, we discuss the product manager career path, including job duties, how product and project management differ, 10 jobs to consider and FAQs about this role.
What is the product manager career path?
After earning a relevant degree or gaining training and experience, a professional can typically work in an associate product management position. From there, they can move into a junior product manager role or a product manager role. As they earn experience, a product manager may move into senior and executive positions, such as a vice president of product development role or a chief product officer (CPO) role.
Product manager job duties
Product managers lead a team who works with product manufacturers and creators to develop consumer goods. Here are some common responsibilities for product managers:
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Perform market research to identify target audiences and understand consumer needs
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Study competitors’ offerings to develop unique and more effective products
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Create marketing strategies that align with a company’s objectives
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Establish project timelines and deadlines to which team members must adhere
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Assist in developing pricing strategies to ensure profitability for the company
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Communicate product plans to stakeholders and executives
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Launch products into the market and gather feedback
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Analyze customer feedback and other data for future product strategies
Product management vs. project management
Though a product manager and a project manager share some similarities, they also differ in a few ways, including the teams they oversee and the goals they’re trying to achieve. Here’s how these two roles compare:
Similarities
Product and project managers both work with teams to achieve a desired goal. Their jobs often require extensive knowledge of business and management, and they can benefit a company by boosting its productivity and customer outreach. Other similarities include:
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Overseeing teams from multiple company departments
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Achieving goals in a set amount of time
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Using creative problem-solving to find solutions
Differences
A product manager’s primary focus is often product research and development, whereas a company can give a project manager a variety of goals to achieve. A project manager’s goals may include marketing or boosting a company’s productivity and customer outreach. Product managers are usually full-time employees, while a project manager can sometimes work on an as-needed basis. A product manager also focuses on the production and marketing departments of a company, while project managers regularly work with many departments.
10 jobs in the product manager career path
Here’s a list of 10 jobs that can prepare you for a product manager position and help your resume become more noticeable to potential employers:
1. Product management intern
National average salary:$47,821 per year
Primary duties: A product management intern works with a company to gain helpful experience in product management. They often conduct research for potential products, perform clerical work and work with a company’s product manager.
2. Marketing representative
National average salary:$49,189 per year
Primary duties: A marketing representative works directly with a company’s or organization’s marketing department. They help promote products or services, increase a company’s customer outreach or work with an advertising team to boost company profits.
3. Customer service representative
National average salary:$59,776 per year
Primary duties: Customer service representatives help customers with questions or concerns they have about a company, its product or its services. They often conduct their services over the phone or through email.
4. Product consultant
National average salary:$62,590 per year
Primary duties: Product consultants work with project managers and general managers to help make a product more profitable for a company. Product consultants use their business expertise to help with a product’s marketability, train employees on product knowledge and improve customer outreach. Product consultants often work on an as-needed basis.
5. Marketing manager
National average salary:$63,336 per year
Primary duties: A marketing manager oversees a company’s marketing and product development team. They help with increasing customer awareness of products and the marketing of a company’s services.
6. Program manager
National average salary:$66,338 per year
Primary duties: Program managers are responsible for planning projects within an organization. Their job is to oversee multiple projects at the same time. These projects often work toward a common goal and are part of a common company program.
7. Business development manager
National average salary:$68,082 per year
Primary duties: A business development manager focuses on a company’s or business’ development and economic growth. They often generate projects with growth-focused goals and find strong marketable opportunities for a company.
8. Project manager
National average salary:$76,693 per year
Primary duties: A project manager oversees a company’s team to fulfill a certain project’s tasks and goals. They often create schedules, monitor an employee’s work and determine the best path for the team to follow to complete the project. A project manager might work for a company full-time or work on an as-needed basis.
9. Mechanical engineer
National average salary:$79,822 per year
Primary duties: A mechanical engineer works with objects and systems of motion to better understand them and help develop new products for companies. They determine how a product’s systems might work in different environments and figure out how to ensure the product lasts for a long time after selling it.
10. Electrical engineer
National average salary:$87,176 per year
Primary duties: Electrical engineers design, create and maintain different electrical systems used for different devices and machines, including phones, computers and factory equipment.
Tips for finding a product manager job
Becoming a product manager often takes years of experience, so here are some helpful tips that might help you get there more quickly:
Learn how to code
Understanding basic programming languages and code can help your resume look more impressive. Product managers often have to work with software developers, and understanding code can help them communicate their ideas and commands more efficiently. There are many ways to learn how to code, such as taking online or in-person coding courses and working with a mentor.
Find work in relevant careers
There are several careers that you can find to help boost your experience and knowledge in product management. For example, if you want to better understand how to create the products that companies offer, becoming either a mechanical or electrical engineer can be a major benefit. If you want to learn how to be a better manager, consider applying for positions in customer relations or company management. These roles can help you gain communication skills, which can be helpful for a product manager.
Make your aspirations known
When working in different positions while attempting to achieve a product manager position, consider informing your managers or coworkers about your aspirations. This can help them know your dedication to pursuing that job, and they might give you opportunities to start training for the role. For example, if you’re working as a mechanical engineer, you can inform your manager that you hope to be a product manager someday. They might start giving you managerial responsibilities to better prepare you for the future role.
FAQs about product managers
Here are some frequently asked questions about product managers:
What are the requirements for a product manager role?
Product managers typically need to have a bachelor’s degree in a relevant field, such as business or marketing. It can also be helpful to participate in an MBA program to receive a master’s degree and further develop your product management skills. In addition, a product manager may pursue specialized training or work in a junior role to develop the skills and knowledge for a product manager position.
What skills do product managers need?
Product managers can benefit from having the following skills:
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Organization
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Critical thinking
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Data analysis
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Creativity
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Market research
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Communication
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Coding
What is the salary and job outlook for a product manager?
The national average salary for a product manager is $89,628 per year. This figure can vary based on your location and level of experience.
The U.S. Bureau of Labor Statistics (BLS) doesn’t have information on the job outlook of product managers specifically, but it has information on the related career path of advertising, promotions and marketing managers. The BLS projects employment for this career to grow 10% between 2020 and 2030, which is slightly higher than the average job growth for all occupations.
