Product manager surveys continue to rise, hitting an average of £68k over the past year. The news has been revealed by leading global training provider, Product Focus, who shared the results of their 17th annual survey on the product management profession. Product Managers from around the world were invited to share their salaries and experiences, helping to build a complete picture of life as a product management professional today.
Carried out in December 2021 and January 2022, 1,310 product management professionals from 62 countries took part in the survey. While a majority were from the UK and Europe (86%), 6% of responses came from people in America, and they even had responses from people as far-flung as Venezuela, Costa Rica, Kenya and New Zealand, highlighting how wide-ranging this vital role can be.
One of the key takeaways from the survey is the discovery that product manager salaries are steadily rising, having increased by 3-4% over the past year to an average of £68k in the UK (€75 and $98k respectively). It also highlights the skills and experience needed to advance in the career, with 73% of respondents having worked in the profession for over four years, and 33% having more than 10 years’ experience. Alongside this, it shows how the scope of the product management differs between companies as 59% of respondents reported working in a company with 20 or less people involved in product management, while 20% reported working in a company with more than 100 product management people.
The survey is not only focussed on the technical side of the profession but also sought to understand the biggest issues facing product management professionals today. A recurring theme was the frustration faced by product managers who feel their role is poorly defined within their organisation. Others reported struggling with a lack of clear business direction and strategy for the products they look after. However, despite these difficulties, very few of the respondents reported wanting to leave their role.
One of the founding Directors of Product Focus, Ian Lunn, is an industry leader with over 25 years’ experience in product management roles. He started Product Focus in 2006, with fellow Director Andrew Dickenson, to help companies achieve high-quality product management, through teaching the skills and providing the tools they need to excel. The team works with a wide range of companies, from start-ups to huge multinationals, delivering online and face-to-face training courses across the world.
On the survey findings, Ian said “We were thrilled to see so many product management professionals get involved and share their unique experiences of their day-to-day roles. The insights we receive are invaluable for everyone in the profession, not only to use as a benchmark but also to provide inspiration for people starting out in their product management career.”
A report of all the survey findings can be downloaded from the Product Focus website here: https://www.productfocus.com/product-management-resources/profession-survey/