When you think about the products you use regularly, you may not consider how they came to be. The coffee maker you use to start your day or the weather app you use to figure out which coat to wear exists in large part because of the efforts of a product manager.
A product manager manages products, of course, seeing things through from beginning to end. But exactly what is a product manager, and what do they do? And how do they do it?
This guide will answer all those questions and more!
- Product Manager Definition
- How Much Does a Product Manager Make?
- What Does a Product Manager Do?
- What Industries Do Product Managers Work In?
- What Kinds of Jobs Can a Product Manager Have?
- How to Become a Product Manager
Product Manager Definition
A product manager is often called the CEO of the product, though it might be more accurate to say a product manager is responsible for herding cats! A product manager creates the overall strategy and vision for the product and shepherds the product from inception to execution. No matter how large or small the issue, the product manager makes sure it’s addressed.
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To pull this off, product managers must consider everyone’s perspective. They need to balance business needs with users’ desires while coordinating across several teams throughout the product’s lifecycle.
How Much Does a Product Manager Make?
Product managers make, on average, approximately $103,00 per year. However, it’s important to note that the job title “product manager” is often reserved for people with a few years of experience in product management.
Many people start their product management career as an associate product manager. The average base salary for this job title is $79,000.
What Does a Product Manager Do?
So, what is the role of a product manager beyond managing products? Often, it’s managing the little things like:
- Coordinating communications among team members working on the project and disseminating updates to outside stakeholders
- Setting milestones and due dates for the project deliverables and prioritizing what happens when
- Conducting market research with users to better understand what they want or need from the product
- Supporting and encouraging the team, as well as ensuring they have the resources they need to get the job done
A Typical Product Manager Day
Many product managers say that there is no such thing as a “typical” day in product management. Though the general duties and responsibilities of a product manager are the same wherever you work, the specifics vary by industry, company, and the product you’re managing.
Jacob Brown, associate product manager at Atlassian, says his day varies depending on what needs to be accomplished. Here’s one example:
“Recently, a typical day in my role consists of lots of planning for the upcoming quarters. The team is wrapping up several large projects, so we are planning and preparing to launch our next several projects. This involves coordinating and communicating with all the involved teams and stakeholders, while also finding time to build out the documentation for said projects based on analyses of our past projects and customer behaviors.”
What Industries Do Product Managers Work In?
Product managers can find work in any field that makes products. That can include tangible products (like sweaters and cars) and intangibles (like apps or software).
Within a broad sector (like tech), product managers put their skills to work in different ways. For example a product manager in tech could range from someone who works on smart home products to someone who manages the lifecycle of a software product.
What Kinds of Jobs Can a Product Manager Have?
Generally speaking, product manager jobs are in a narrow band of product management. Most people start as an associate product manager, then move up to product manager. From there you can become a senior product manager and then head of product.
>>MORE: BCG Product Management Virtual Experience Program
Although the job titles are narrow, the job opportunities are not. As noted above, product managers work in a variety of fields and are responsible for a vast array of products. And since many product manager skills are transferable, you can take them wherever your career takes you.
Product Manager and Project Manager Differences
If you’re considering becoming a product manager, it’s critical you understand the difference between a product manager and a project manager.
Though these two jobs use many of the same skills, they are not the same job. A product is not the same as a project, even though the concepts overlap (like delivering a complete product). An example would be that a project manager oversees a solar panel installation project from start to finish, while a product manager oversees the creation and development of the solar panels.
>>MORE: What Is a Project Manager?
Product Manager vs. Technical Product Manager
As noted above, product managers can work at tech companies managing their products, whether that’s a physical product or an app. However, being a product manager in tech is not the same as being a technical product manager.
A product manager is a generalist. They may act as product manager for anything from teapots to features on a social media site. So, a product manager in tech may be the product manager at an IoT company and be responsible for managing the smart home gadgets the company produces.
A technical product manager can work for the same IoT company on the same gadgets but is strictly responsible for managing the technical aspects of the product. For example, the technical product manager may handle how your thermostat communicates with the power company. The product manager, though, would be responsible for managing how the thermostat looks and is operated by the owner.
How to Become a Product Manager
While neither a bachelor’s degree nor certifications are required to become a product manager, they can be helpful. The Association of International Product Marketing and Management offers several product manager certifications, as do a few other credentialing bodies.
However, there is no one “right” way to become a product manager. “People get into product management from many different ways and backgrounds,” says Brown. “Most of the product managers I have worked with did not start their careers working in product. Many of them started in another role such as engineering, data science, or marketing, and made the transition when it felt more natural in their careers.”
And because there’s no specific way to become a product manager, Brown says that one of the best ways to embark on this career path is to get some real-world experience first. “My number one piece of advice is to look for opportunities to gain some experience! Whether that be through an internship, a school organization, or even building your own product, there is so much for you to learn that is best done through hands-on experience.”
What’s your advice for aspiring product managers?
“Look for opportunities to gain some experience! Whether through an internship, school organization, or building your own product, there is so much to learn through hands-on experience.” — Jacob Brown, Associate Product Manager at Atlassian
What Skills Does a Product Manager Need?
It’s not uncommon for product managers to oversee more than one product at a time, so you might think juggling is the number one skill you should possess. And you’re not too far off! Ultimately, a successful product manager develops and maintains a diverse skill set to help them keep track of and manage all the products they are responsible for.
Because the product manager is responsible for ensuring each team member meets their deadlines and milestones, excellent time management skills and attention to detail are crucial. But, because no two days are alike and you never know what will happen, flexibility and adaptability are equally vital.
“I’ve come to find that adaptability is an incredibly important trait to have,” says Brown. “Being able to adapt to sudden changes and continue to make progress in new situations is crucial for guiding your team to success. Though I haven’t been at Atlassian for too long, I have had to pivot directions and explore new approaches for several projects due to unforeseen circumstances.”
Successful product managers also need strong communication, collaboration, and conflict-resolution skills. A large part of the job is talking to customers and coordinating with team members. However, you may not always have the authority you want or need, so you’ll need the ability to persuade people and deliver bad news gently.
In addition to soft skills, Brown also notes that hard skills can play a role in a product manager’s success. While you won’t necessarily need a specific hard skill to be a product manager, possessing experience and expertise in an area is helpful.
“I’ve had the chance to meet and work with many successful product managers and each of them had a certain set of skills that allowed them to succeed,” Brown says. “Some of these skills, including software development, advanced knowledge of marketing, and digital design, were unique and more specific to their team’s needs, but many of these were shared between all of them.”
Ready to launch your product manager career? Get interview ready by prepping for 10 common interview questions for product managers.
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