Whereas Product Managers are extra motivated by ardour than money, it’s nonetheless good to know that your onerous work might be rewarded. Product Administration as a profession path is on the rise in 2022, and featured on LinkedIn’s record of the highest 25 U.S. roles which are rising in demand. Product Administration salaries within the U.S. are equally on the rise, because the self-discipline turns into extra enticing to firms and candidates alike.
This isn’t only a U.S.-centric phenomenon. As we all know from our international neighborhood of Product Managers, it’s a worldwide craft with a whole bunch of hundreds of pros.
Nevertheless, let’s not fake that every one of those professionals get jobs purely for the love of what they do. Cash is a sensitive topic, even taboo, in lots of teams. Even whether it is what makes the world go spherical.
Understanding the common Product Supervisor wage on your nation and the place you’re on the profession ladder is immensely useful for quite a lot of causes. It helps you’re employed out whether or not a brand new firm is providing an appropriate wage on your years of expertise. It might enable you to to barter a pay rise when provided a promotion at your present firm. Most mainly, it could possibly assist you determine if a profession in Product Administration will cowl the price of residing in your metropolis/nation.
Right here, we’re going to offer you a fast breakdown of common Product Supervisor salaries in:
- North America
- Latin America
- Europe
- Asia
- Africa
- Oceania
Earlier than we start, keep in mind that these are averages. Precise salaries will fluctuate relying on the scale of the corporate, its degree of maturity, and the specifics of the job description. Your anticipated wage will clearly additionally fluctuate relying in your job title. As you climb the profession ladder (which Product Managers are 149% extra prone to do in keeping with a LinkedIn report) you’ll be able to anticipate fairly vital wage will increase.
Common salaries per job title (within the U.S.)
- Product Supervisor – 113,446 US$
- Senior Product Supervisor – 146,585 US$
- Director of Product Administration – 179,315 US$
- Vice President of Product – 189,288 US$
- Chief Product Officer – 204,264 US$
Product Salaries in North America
The North American Product scene wants little introduction. America are the birthplace of Google, Apple, Microsoft, Meta, and greater than half of the world’s 1000 unicorn startups. Canada can also be experiencing a tech renaissance, with the tech sector accounting for five.1% of nationwide GDP in 2020.
Common Product Supervisor Salaries Per Metropolis:
- San Francisco – 138,489 US $
- New York – 113,260 US $
- Seattle – 121,698 US $
- Atlanta – 106,605 US $
- Toronto – 89,643 CAD $
- Montreal – 83,659 CAD $
Product Salaries in Latin America
Latin America doesn’t simply boast a number of the world’s richest biodiversity, there’s additionally an unbelievable variety of tech and tech expertise. In 2020, Latin America attracted enterprise capital investments of $4.1bn USD, which is greater than investments received in Africa, the Center East and central and jap Europe mixed in the identical yr. And there’s actually loads of room for progress and thrilling alternatives within the Latin American tech scene.
Common Product Supervisor Salaries Per Metropolis:
- Mexico Metropolis – 301,464 MXN $
- Buenos Aires – 120,000 ARS $
- São Paulo – 144,000 BRL $
- Santiago de Chile – 33,400,000 CLP $
- Medellín – 60,000,000 COP $
You may additionally be occupied with: #Latinx Product Leaders: Altering the Face of Product
Product Salaries in Europe
Bored with being known as ‘quaint’, the tech scene in Europe has exploded in recent times, with tech hubs dotted throughout the continent. Europe boasts all kinds of FAANG headquarters, native legends, and Europe-based international megastars (whats up Spotify, we see you).
There’s additionally fairly the range in prices of residing – rural Hungary has a really completely different worth level to Central London. So it’s helpful to know the common salaries for Product Managers in your personal metropolis, somewhat than the European common.
Common Product Supervisor Salaries Per Metropolis:
- London – 57,555 GBP £
- Dublin – 63,773 EUR €
- Paris – 48,000 EUR €
- Barcelona – 45,269 EUR €
- Berlin – 57,917 EUR €
- Stockholm – 580,080 SEK kr
- Amsterdam – 67,386 EUR €
You may additionally be occupied with: The European Product Scene + 7 Cities Product Managers Love
Product Salaries in Asia
Asia’s tech scene (which is troublesome to embody, because the continent is as huge as it’s diverse) is usually in contrast with that of North America’s. With Tencent, Alibaba Group, Samsung, and ByteDance (TikTok) serving thousands and thousands of world prospects, the East is quickly catching up with the West.
Common Product Supervisor Salaries Per Metropolis:
- Beijing – 210,012 CNY ¥
- Shenzhen – 191,532 CNY ¥
- Hong Kong – 456,000 HKD $
- Kyoto – 96,000,000 JPY ¥
- Singapore – 72,000 SGC $
- Bangalore – 24,000,000 INR ₹
Product Salaries in Africa
Whereas Africa’s tech ecosystem is troublesome to check to that of Silicon Valley, its tech hubs are on the rise, and seem increasingly on VCs’ radars. In reality, it’s main tech hubs raised a record-breaking $4bn in funding throughout 754 offers. It’s a continent on the rise, with the Metaverse and cryptocurrency offering thrilling new alternatives throughout the continent.
Common Product Supervisor Salaries Per Metropolis:
- Lagos – 3,000,000 NGN ₦
- Nairobi – 1,800,000 KES /-
- Cairo – 192,000 EGP £
- Cape City – 464,172 ZAR R
- Johannesburg – 728.205 ZAR R
You may additionally be occupied with: Getting Your Begin in Product Administration Outdoors of Silicon Valley
Product Salaries in Oceania
Final, however actually not least, we come to Oceania. With the tech sector making vital contributions to the GDPs of each Australia and New Zealand, the trade is experiencing fast progress that’s solely set to extend in 2022 and past.
Common Product Supervisor Salaries Per Metropolis:
- Sydney – 120,000 AUD $
- Auckland – 100,000 NZD $
Issues to Think about (That Aren’t Money Compensation)
Ensuring that your organization is paying you what you’re price, and balancing that along with your value of residing, can typically really feel irritating. Balancing your want for money along with your need to do a job you like isn’t simple. Generally making a transition to the profession path of your goals includes taking a step again, and a pay lower.
Whether or not you’re trying to find a brand new job or not, there are some issues outdoors of money compensation that you must think about when asking ‘is that this job nicely paid?’
Advantages
Virtually all firms will provide some sort of advantages bundle to their full-time workers. Generally this can embrace PTO and medical health insurance, and may additionally embrace pension plans, bills, and catering. Some firms can even be open to funding the schooling of their worker, with many actively encouraging groups to request schooling funding.
What an organization doesn’t present in base wage they could make up for in different methods.
Inventory Choices
Some firms, corresponding to Intuit and GoDaddy are recognized for giving beneficiant inventory choices to their workers. Whereas it’s not one thing you must soak up lieu of an actual, habitable wage, it’s one thing to remember if you happen to’ve obtained a head for investments.
Saved and Hidden Prices
Some jobs that will include a horny wage may additionally include hidden prices. For workplace areas which are additional away than your present job (significantly if you happen to do business from home) then take into account how a lot the commute will value you per yr.
However, transferring from a job that has you primarily based in an workplace to a WFH position might even see a rise in your family payments (electrical energy, water, air con and many others). You might also be anticipated to supply your personal gear if you happen to’re working for a really small startup that may’t but present laptops.
Think about how a lot cash it’s going to value you to do the job, but in addition how a lot time it’ll value you. Should you actually worth your free time, a nicely paid position that includes a two hour commute could also be much less interesting than a task that allows you to do business from home.
Potential for Development
As we’ve seen earlier than, profession ladder jumps include wage will increase. It’s higher to take a barely decrease base wage at an organization that’s eager to nurture your profession than to take a greater paid place that you just’ll be caught in for years.
Let’s think about that Firm A provides $130K as a Product Supervisor for an organization that has a observe document of not selling its workers, and has no system in place for normal wage opinions. Firm B solely provides $100K for an entry-level Product Administration position, however they’ve a extra people-driven strategy to HR and are eager to see folks climb the profession ladder.
After 5 years at Firm A, you may nonetheless be thought of an entry-level Product Supervisor and making solely marginally extra money than you began out with. However after 5 years at Firm B, you may be making $140K as a Senior Product Supervisor.
So if you’re searching on your subsequent Product Administration place, there’s loads to bear in mind. Cash is likely to be powerful to speak about, however don’t be afraid of onerous conversations. In spite of everything, it’s what pays the payments and retains the lights on!
