How Much Does a Product Manager Earn? Your 2023 Salary Guide

Product management is one of the fastest-growing roles in business. It’s frequently cited as one of the most in-demand tech jobs—and, with the critical role product managers play in driving growth and innovation, it’s also a highly rewarding career path. 

But what about the salary? Are product managers well-paid? In a word, yes—and you’ll find all the data to back it up in this guide. Just use the clickable menu to find the product manager salary data you’re most interested in:

  1. What is product management, and what does a product manager do?
  2. What is the average product manager salary in the United States?
  3. How much do product managers earn around the world?
  4. Product manager salaries based on seniority
  5. Which companies pay the highest product management salaries?
  6. How to get started in product management

Ready to find out how much you could earn as a product manager? Let’s go. 

1. What is product management, and what does a product manager do?

Before we explore product manager salaries, let’s briefly recap on what product management is and what a product manager actually does. 

Product management can be defined as the department or function within an organization which is responsible for ensuring the overall success of a product or service. It entails everything that falls under the product life cycle—from discovering the product to developing, launching, growing it, and beyond. 

Product management is a strategic function, so it’s all about managing the product (or service) in a way that drives business growth. Product managers are responsible for defining a product vision and developing a roadmap for how that vision will be implemented.

They work with a variety of different stakeholders to ensure that everyone is aligned and working towards a common goal. Much of a product manager’s day-to-day work revolves around:

  • gathering and prioritizing ideas
  • defining technical requirements
  • presenting to leadership
  • conducting research
  • running experiments to identify opportunities for improvement

As you can see, the role of the product manager is extremely varied, requiring a broad and diverse skillset. We’ve outlined the 11 most important product manager skills in this guide.

For now, though, let’s get to the matter at hand: How much can product managers really earn? 

2. What is the average product manager salary in the United States?

According to data from Indeed, the average salary for a product manager in the United States is $90,073. Indeed also reports an average yearly cash bonus of $5,000 for product managers. 

This is almost $40,000 higher than the average salary in the U.S., which stood at $53,490 in 2022.

The product manager salary varies depending on where you are in the U.S. Let’s take a look at what product managers typically earn in different locations (ordered from highest to lowest). We’ve taken all salary data from Indeed:

Infographic comparing product manager salaries in the United States.

  • San Francisco, CA: $109,154 
  • New York, NY: $103,756
  • Seattle, WA: $100,433
  • Los Angeles, CA: $98,212 
  • Chicago, IL: $97,142
  • Denver, CO: $95,163 
  • Minneapolis, MN: $94,513
  • Atlanta, GA: $94,040
  • Boston, NY: $93,578
  • Dallas, TX: $93,280

As you can see, product managers earn consistently well across the United States. If you’d like to get salary data for a different location, check the Indeed salary portal

3. How much do product managers earn around the world?

Now let’s consider how much product managers can earn outside of the U.S..

The average product manager salary in the UK & Ireland

The average salary for a product manager in the UK is £53,785 per year (Indeed). This is around £20,000 higher than the national average salary of £29,600 per year. 

The average salary for a product manager in Ireland is €71,187 per year (Indeed). This is over €30,000 higher than the national average salary of €44,202. 

Here’s what the average product manager salary looks like broken down by city, all based on data from Indeed:

Infographic comparing product manager salaries in Ireland and the UK.

  • Dublin: €79,466
  • London: £58,472
  • Cardiff: £56,299
  • Edinburgh: £52,448
  • Belfast: £50,705

Product manager salaries in other European countries

Here we’ll look at the average product manager salary in different countries across Europe:

Infographic comparing product manager salaries in European countries.

  • Switzerland: 177,000 CHF (around 169,400). The national average salary in Switzerland is about 124,000 CHF. 
  • France: 66,900. The national average salary in France is 49,500. 
  • Austria: 63,900. The national average salary in Austria is around 45,500.
  • Germany: 62,569. The national average salary in Germany is 45,700.
  • Spain: 45,700. The national average salary in Spain is around 32,600.
  • Italy: 42,392. The national average salary in Italy is around 43,800.

The average product manager salary in Australia

The average base salary for a product manager in Australia is $128,857 per year (Indeed). That’s over $50,000 higher than the national average salary which stands at around $67,000 per year. 

Now let’s take a look at how much product managers typically earn in different Australian cities:

Infographic comparing product manager salaries in Australia.

  • Canberra, ACT: $263,309
  • Brisbane, QLD: $127,840
  • Perth, WA: $127,313
  • Sydney, NSW: $126,780
  • Melbourne, VIC: $113,558

The average product manager salary in Canada

The average product manager salary in Canada is $88,216 per year. This is a good $30,000 more than the national average salary of $54,630.

How do product managers fare in different Canadian cities? Let’s find out:

Infographic comparing product manager salaries in Canadian cities.

  • Vancouver, BC: $97,421
  • Toronto, ON: $92,229
  • Calgary, AB: $90,942
  • Montréal, QC: $83,570
  • Québec, QC: $71,129

The average product manager salary in India

In India, the average product manager salary is ₹9,40,771 per year (around US$13,000). This is considerably higher than the national average salary of ₹3,87,500 per year (around US$5,000). 

Here’s how the product manager salary varies across different Indian cities:

Infographic comparing product manager salaries in India.

  • Bengaluru: ₹11,84,102 (around $15,300)
  • Mumbai: ₹10,40,468 (around $13,400)
  • Hyderabad: ₹9,50,408 (around $12,300)
  • Jaipur: ₹8,81,011 (around $11,300)
  • Delhi: ₹8,69,617 (around $11,200)

The average product manager salary in New Zealand

The average salary for a product manager in New Zealand is NZ $111,530 per year, based on data from talent.com. This is considerably higher than the national average salary of NZ $58,836 per year.

Now let’s explore the product manager salary for different cities in New Zealand, based on data from Glassdoor:

Infographic comparing product manager salaries in New Zealand.

  • Wellington: $110,000
  • Christchurch: $105,000 
  • Hamilton: $101,000 
  • Auckland: $100,000 

The average product manager salary in Nigeria

According to salaryexplorer.com, the average salary for a product manager in Nigeria is 5,850,000 NGN per year (around $14,100). This is considerably higher than the national average salary of 4,060,000 NGN per year (around $9,800). 

The average product manager salary in South Africa

Based on data from Indeed, the average base salary for a product manager in South Africa is ZAR 554 793 per year (around $35,800). The national average salary stands at ZAR 374,000, putting product managers comfortably in the above-average category. 

The average product manager salary in Brazil

In Brazil, product managers earn an average salary of 145,000 BRL per year (around $28,300). This is significantly higher than the national average salary of 103,000 BRL.

We’ve only explored a handful of countries and cities, but you’ve probably noticed that product managers typically earn well above the national average in most places.

If you’re curious about the average product manager salary in a location we haven’t covered, we can recommend using tools like Glassdoor, Indeed, and salaryexplorer.com to find the exact data you’re interested in.

Location is just one factor that impacts your earning potential as a product manager. Now let’s consider another important aspect: years of experience. 

4. How does a product manager’s salary vary based on seniority level?

As with any profession, the product manager salary varies based on seniority. Let’s take a look at the average salary for different product manager job titles in the United States:

Infographic comparing product manager salaries by seniority level.

  • Junior product manager salary: $69,630
  • Associate product manager salary: $70,825
  • Product manager salary: $89,536
  • Senior product manager salary: $123,868
  • Director of product management salary: $156,464
  • Principal product manager salary: $167,097
  • VP of product management salary: $191,021

Again, we’ve taken all of our salary data from Indeed. You can see how, as you gain more experience in the field, your earning potential as a product manager jumps significantly.

If you’re curious as to what distinguishes a junior product manager from a senior, or a senior from a director, we recommend searching these job titles and seeing how the job descriptions differ. We’d also recommend looking at our complete product manager job description guide to learn more.

Pay attention to the skills required, as well as the responsibilities that fall under each title. You’ll soon have an idea of what it takes to progress through the product management ranks!

5. What companies pay the highest product manager salaries?

When weighing up your earning potential as a product manager, it’s also important to consider how salaries can vary across different companies.

We’ve explored the average product manager salary—which sits at just under $90,000 in the U.S.—but actually, there are some companies that pay their product managers well above the average. 

So: What companies pay the best product manager salaries? Here are the top five:

  • VMware, a cloud computing and virtualization technology company with headquarters in California. The average salary for a product manager at VMware is $177,444 per year.
  • Meta (formerly known as Facebook), another major tech company based in California. The average salary for a product manager working at Meta is $172,974 per year.
  • Boeing, a leading aerospace company headquartered in Chicago, Illinois. On average, product managers at Boeing earn $172,409 per year.
  • Oracle, one of the largest software companies in the world, with headquarters in Austin, Texas. The average product manager salary at Oracle is $162,234 per year.
  • Accenture, a global professional services company specializing in information technology services and consulting. The average salary for a product manager working at Accenture is $158,812 per year. 

Also on the list of top-paying companies for product managers are Block, Google, Workday, Walmart, and Amazon, with salaries ranging from $151,000 to $156,000. 

6. How to get started in product management

If you like what you’ve seen with regards to salary, you might be wondering how you can break into this fascinating, fast-growing, and financially rewarding field.

The first step is to learn as much as you can about product management through independent reading and research. Immerse yourself in the topic through blogs, podcasts, and books in order to build up your foundational knowledge.

Next, you’ll want to focus on learning the practical skills that will equip you to actually work as a product manager. The most effective way to do this is through a product management course.

This will also help you to build your product management portfolio, network in the field, and effectively apply for jobs—all critical steps in your journey towards a career in product management.

You’ll find a complete step-by-step guide on how to become a product manager in this guide, where we also outline some of the most credible product management courses that are worth considering.

If you’re still figuring out if product management is right for you, try a free product management for beginners course before you invest in the real thing.

Want to read more about the world of product management first? Then check out these articles for starters:

What You Should Do Now

  1. Get a hands-on introduction to product management with a free, self-paced short course made up of 5 short tutorials.

  2. Take part in one of our FREE live online product manager events with industry experts.

  3. Talk to a program advisor to discuss career change and find out if product management is right for you.

  4. Become a qualified product manager in 3-6 months—backed by the CareerFoundry job guarantee.

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