10 Awesome & High-paying Product Manager Careers in 2022

Product Management
November 8, 2022
5 min read
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Explore the top ten product management careers that are ranked as one of the most promising and high-paying jobs of the year.

With the acceleration in the number of e-commerce businesses, there’s a dramatic rise in the demand for Product Manager Roles in organizations. Product Management unites the design, technology and business departments in an organization. The surge in the demand for product management roles is due to the unprecedented growth of tech giants. As these companies grow, they need product managers to keep up with the competition.

Product Manager Job Roles

1. Product Development Manager

According to salary.com, the average annual salary of a Product Development Manager is $131,356. Multinational companies and even start-ups are seeking Product Development Managers to fill up the positions. This has shot up their demand in the industry. Product Development Managers understand the needs of the consumers. They help organizations create potential products.

Product Development Managers are responsible for uniting the business, marketing, sales and profitability of the product. The role involves identifying and eliminating different design, production or technical roadblocks. They need to possess a strategic mindset along with the right techniques and skills. People, who love to work and collaborate with large teams, and are great at communication and expression, are perfect for the role of Product Development Managers.

2. Chief Product Officer

According to builtin.com, the average annual salary of a Chief Product Officer is $204,000. The role of a CPO or Chief Product Officer is to lead the product team. These are professionals possessing advanced knowledge on how to improve the performance of the products. CPOs devise product strategies to improvise the products. They envision product design, product development and product management for businesses.

With the rise in demand for niche products and advancements in services, companies need a profile that takes care of product development progress. This necessitates the role of chief product officers in organizations that are planning to scale their business. Individuals willing to create cutting-edge products for customers are perfect for this role. Some of the skills they need to possess are leadership, decision-making, eye for detail, customer engagement, analytical and of course, good communication skills.

3. Product Manager

According to salary.com, the average Product Manager's salary in the United States is $72,913. The role of Product Managers is one of the fastest-growing jobs in the market. Product Managers need to have an understanding of the product development lifecycle, associated business goals, user experience, digital transformation of the products and more.

The role of Product Managers is to bridge the gaps between different teams working on the product. They unite the teams and help ease the journey of product release in the market. Product Managers are responsible for the success of the product. Individuals who have excellent critical and analytical skills with flex for problem-solving, leadership and technical skills fit well in this role.

4. Product Analyst

According to glassdoor.co.in, the annual average salary for a Product Analyst is $78,401 in the United States. Product Analysts play a crucial role in modern organizations. They are responsible to perform market research, analyze market data and identify customer behaviour. Product Analysts study market trends, recommending launch strategies for the product. The analyses provided by Product Managers help increase the overall profitability of the businesses.

Product teams require the support of product analysts to take essential product decisions. On the basis of quantitative data, data analysts help take advanced steps in the decision-making process. Individuals possessing stellar business acumen with the knack to ask the right questions; and excellent technical and communication skills are perfect for the role of Product Analyst.

5. Product Owner

According to builtin.com, the annual average salary for a Product Owner is $106, 032 in the United States. Product Owners liaison between product developers and product managers, ensuring they are on track. There’s a difference between the role of Product Owners and Product Managers. Unlike Product Managers who have a strategic role, Product Owners have a more specific role that entails working closely with the development team. They are responsible for maximizing the value of the product.

Product Owners are professionals who put the product vision of Product Managers into action. With the rise in the number of start-ups and product-driven businesses, the role of Product Owners has become all the more crucial. Companies across the globe are looking to fill up this valuable position in their hierarchies. Individuals looking to add value to the product decision-making process and are willing to solve the pain points of the customers should grab the role of Product Owners.  

6. Product Consultant

According to salary.com, the annual average salary for a Product Consultant is $71,772 in the United States. With their extensive knowledge of product and industry, Product consultants offer assistance to both customers and companies. The role of Product Consultants is to analyze the data of the company and understand the needs of the customers. Based on these, they offer practical solutions to organizations with the primary objective of increasing revenue.

Product Consultants should have a holistic understanding of the business to help capitalize on the market opportunities. There’s an increased need for product consulting services. Companies are looking for professionals who have intensive experience with a number of products in different industries. Individuals willing to collaborate with project managers while analyzing client requirements and providing optimal products are perfect for the role of Product Consultants.

7. Product Specialist

According to indeed.com, the annual average salary for a Product Specialist is $61,889 in the United States. Product Specialists are responsible for managing the product throughout its life cycle. They are involved in various aspects of product viz. development, promotion, marketing and also technical tasks. Their role even involves studying competitors’ products and staying updated about the industry. In short, they have in-depth knowledge about the product. In addition, a product manager should possess negotiation and decision-making skills.

There has been a steady rise in the demand for Product Specialists. Their extensive knowledge of marketplace trends helps businesses identify market opportunities and scale. The role of Product sSpecialists is quite dynamic as they research, recommend and review products from different angles. Individuals desiring to play an important role in the technical development of products, their marketing and promotion and possess competitive analytical skills should opt for this role.

8. Product Strategist

According to glassdoor.co.in, the annual average salary for a Product Strategist is $122,316 in the United States. Product strategists often work in tandem with Product Managers. However, the two of them play different roles in an organization. The role of a Product Strategist is to identify new opportunities, assess product performance, and develop strategic plans for product lines.

The major responsibility of a Product Strategist is to position the product to tap business opportunities, ensuring its success. Product Strategists focus their time and energy to plan the future of the product. The rapidly changing market has coaxed companies to hire smart Product Strategists who are highly adaptive and creative problem solvers. Individuals willing to make their mark as Product Strategists should possess an entrepreneurial spirit, research and analytical skills, a knack for strategic planning and excellent communication skills.

9. Product Marketing Manager

As reported by glassdoor.co.in, the annual average salary for a Product Marketing Manager in 2022 is $120,239. The high demand for Product Marketing Managers owes to the rising expectations of the customers. As their desire for personalized product experiences is on the rise, companies hire product marketing professionals for their go-to-market strategies. Product Marketing Managers plan product engagement on different channels.

These professionals need to understand the product completely, right from its life cycle to its functioning and market positioning. They represent the product to customers, stakeholders, investors and potential consumers. Their role is to promote the value of the product to the target market. The ultimate goal is to increase the market share of the business. Product Marketing Managers get exposure to different areas of work. Individuals who want their role to make an impact in the organizations with their storytelling, social media, digital marketing and related skills should consider becoming Product Marketing Managers.

10. Technical Product Manager

According to salary.com, the annual average salary for a Technical Product Manager is $90,560 in the United States. As the title says, Technical Product Managers have the technical expertise to guide the product development team. Unlike Product Managers, these professionals are not much focused on the needs of the customer. Instead, they are more involved with the engineering team and give priority to the ‘how’ of the product.

Technical Product Managers are responsible for developing user stories depending on business requirements. They are more concerned with UX best practices, APIs and critical thinking. Some companies promote Product Engineers to Technical Product Managers. The core skills of a technical product manager are engineering, software methodology, product roadmap, and product implementation among others.

As change has become the new norm, Product Managers who are experts at managing change, are ruling the roost. The rapid growth of businesses adopting technology and the internet has led to an upsurge in the demand for Product Managers to help companies grow their online presence.


Author Bio

Sakshi Baid works as a Product Associate at Refrens.com - Invoice generator & India's most powerful platform for freelancer's growth. She has worked for some renowned companies as a Brand and Digital marketing associate. You can follow Refrens.com on Twitter, LinkedIn, and Instagram.

Sakshi Baid
Sakshi Baid works as a Product Associate at Refrens.com - Invoice generator & India's most powerful platform for freelancer growth. She has worked for some renowned companies as a Brand and Digital marketing associate. You can follow Refrens.com on Twitter, LinkedIn, and Instagram.
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