The latest salary guide for Product management in 2020.

The latest salary guide for Product management in 2020.

Every organisation gets dissected into a number of departments which functions differently and uniquely from one another. Who builds an organisation from scratch? The engineers, the designers, the business analysts and managers. While engineers indulge in all the technical aspects, the designers build an interface between the technology and users by comprehending and bringing them into existence. The business developers create the interface between business and users where the intention of the market is made awarded and available to users.

A product is fuel to any business; in other words, you can say, the whole purpose of a business is circumferenced around the product. The nourishing and flourishing of a product is what an organisation has to deal with. Out of all the realms, the product manager is the one who covers all the three paradigms. Product management is the only roles which encompass three, technology, designing and business. 

Why would it interest anybody in being a product manager instead of a programmer or designer.? In a dynamic startup or business scenario, though the product managers deal with the overall sphere of the business, it is not necessary for them to get into the spine of coding and technicalities. It is more likely about a product owner in knowing about the purpose perfectly but relying on the techies to bring that purpose to life. The mortgage a sheer of dependency about the “what and hows” of the product and its intentions. 

Above all, a scrum product manager is a coveted person who gets to sit two steps above other than the CEO who is responsible for connecting all the medium of the business.

Indeed it is power, prestige and responsibilities. What else?! yes a well-packed salary to fill the interest and pockets. If you are among the one who is well versed with leadership notion and management skills, it should be a yes yes for you to get into this job. If you are in midway through this profession already, a directive compass for you to get into it will be a good certified course on scrum product management.

How much a well conversed product manager get paid averagely? Let’s dig into and see!. The salary models vary differently for differently under product management hierarchy.

1. CERTIFIED SCRUM PRODUCT OWNER (CSPO)

Product owner certification.

The roles and responsibilities of CSPO include working with designers, key stakeholders and delivery team and confront the team, making them aware of successful delivery through Agile practices. 

ROLES:

  1. Leading the Agile team Teaching the team about scrum and Kanban principle and practices.
  2. Streamline daily standups and plan update on sprint.
  3.  Ensure the teams performance and encourage them to follow Agile frameworks for adequate decision making
  4. Driving solution to business hurdles and remove sprint roadblocks.
  5. Having clear goals and ability to steer the team with effective communication and understanding.
  6. Facilitate team transparency in making an account of every strategy that the team gets involved in.

REQUIREMENTS:

  1. A graduate who belongs to computer science, system engineering or any related fields with a decent CGPA.
  2. A manager who has 4-9 years of experience in the relevant field.
  3. A certified scrum master who has already worked for an Agile team.
  4. A person having good knowledge of Agile principles and framework.
  5. Good leadership and organisational skills
  6. A person who is already working as a Product Owner but wants to enhance his Product expertise in a more constructive way and who wants to extend career opportunities further into technical & strategical product management.
  7. Great communication and facilitation skills.

SALARY;

The average salary of a certified scrum product owner is approximately 2m, according to Payscale. After a well-groomed experience, a CSPO with mid-career can expect a hike of 35% and an advanced level acknowledged CSPO could expect a hike of almost 55% into his salary basket. The top companies you can eye for who maintain top salary brackets for this role are

  1. Oracle
  2. HSBC
  3. Honeywell
  4. Dell, Inc
  5. Global logic

2.Technical Product and Program manager:

Program manager certification.

A technical product manager is reasonably responsible for featuring in support of end technology platforms. They monitor quality and focus on productivity on a multitude of programs.

ROLES:

  1. Leading cross-departmental functionalities that foster accountability, quality and commitment within the team till delivery of end to end projects.
  2. Providing strong business analysis around the Agile framework.
  3. Working in flexible direction across an adaptable environment and delivering effective solutions
  4. Proactive involvement in business decisions, communicating and recommending optimised suggestions and operation to the team
  5. Resolve Project glitches and conflicts. Ability to manage multiple projects in hand and drive the team towards delivery, meeting all the deadlines.

REQUIREMENTS:

  1. A person having minimum 7 years of experience in software engineering/Engineering delivery and deployment.
  2. 5 years of experience in product/project or program management.
  3. A good acquaintance to scrum and Agile frameworks.
  4. A person who has worked parallelly within multiple environments implementing Agile principles.
  5. Familiarity with reviewing technical designs, evaluating business requirements and achieve long term goals.

SALARY:

The average salary of a technical Product and Project manager is 1,978,864 INR/year. A newbie Product manager earns approximately 850,967 INR/year. A Product Manager with adequate experience of nearly 4-9 years experience earns nearly 1,689,476 INR/Year. Stepping two steps ahead and grabbing experience of more than 10 years of experience pay Product Managers nearly 2,135,678 INR/Year. IN advanced years after accumulating all go together with the experience of more than 15 years, A product and project Manager can expect a salary of 3,199,672 INR/Year. Oh my god! That’s huge. The trending location that has become the hotspot for this grooving roles are Bangalore, Chennai, Gurgaon, Hyderabad, Mumbai, Noida and Pune.

Conclusion:

As I say, Agile gets you more mile, there is nothing better than managing crucial thrones in the business hierarchy with lucrative earning and coveted responsibilities. Definitely, the role is growing in importance and market, so as your desire to be a Product Manager.

Get going, and you are already there!.

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