Product Manager Salary in United Kingdom during 2024

Salary details

The average Product Manager salary lies between USD 98,400 and USD 127,261 in the United Kingdom. It represents the overall compensation/gross salary amount for the working year (before deductions like social security, taxes and other contributions), not including equity/stock options or similar benefits.

Region represents the primary country of residence of an employee during the year (or residence for tax purposes). All data shown are full-time equivalent (FTE) salaries. Part-time salary information has been extrapolated to its FTE value.

Last updated: Nov. 17, 2024

Top 20 Job Tags for Product Manager roles

The three most common job tag items assiciated with Product Manager job listings are Engineering, Machine Learning and Research. Below you find a list of the 20 most occuring job tags in 2024 and the number of open jobs that where associated with them during that period:

Engineering | 1335 jobs Machine Learning | 1019 jobs Research | 749 jobs Computer Science | 645 jobs Agile | 589 jobs Generative AI | 453 jobs SQL | 447 jobs Python | 396 jobs LLMs | 337 jobs Privacy | 334 jobs Architecture | 330 jobs Security | 311 jobs Testing | 301 jobs Data analysis | 289 jobs Data Analytics | 260 jobs UX | 233 jobs KPIs | 224 jobs ML models | 219 jobs R | 216 jobs Finance | 216 jobs

Top 20 Job Perks/Benefits for Product Manager roles

The three most common job benefits and perks assiciated with Product Manager job listings are Career development, Health care and Equity / stock options. Below you find a list of the 20 most occuring job perks or benefits in 2024 and the number of open jobs that where offering them during that period:

Career development | 1284 jobs Health care | 805 jobs Equity / stock options | 706 jobs Competitive pay | 600 jobs Startup environment | 529 jobs Flex hours | 503 jobs Salary bonus | 435 jobs Flex vacation | 381 jobs Insurance | 366 jobs Medical leave | 356 jobs Team events | 338 jobs Parental leave | 321 jobs Wellness | 265 jobs 401(k) matching | 245 jobs Transparency | 117 jobs Flexible spending account | 103 jobs Home office stipend | 99 jobs Unlimited paid time off | 98 jobs Fitness / gym | 79 jobs Conferences | 73 jobs

Salary Composition

In the United Kingdom, the salary composition for a Product Manager in AI/ML/Data Science typically includes a base salary, performance bonuses, and additional remuneration such as stock options or equity, especially in tech companies. The base salary often constitutes the majority of the total compensation package, ranging from 60% to 80%. Performance bonuses can vary significantly, often between 10% to 20% of the base salary, depending on the company's performance and individual achievements. Additional remuneration, such as stock options, is more common in larger tech companies or startups and can significantly enhance the total compensation package. The exact composition can vary based on the region, with London typically offering higher salaries due to the cost of living, and the industry, with tech and finance sectors generally offering more competitive packages.

Increasing Salary

To increase your salary further from this position, consider the following steps:

• Skill Enhancement: Continuously update your skills in AI/ML technologies and product management methodologies. This could involve taking advanced courses or certifications.
• Networking: Build a strong professional network within the AI/ML community. Attend industry conferences, webinars, and meetups to connect with other professionals and learn about new opportunities.
• Performance Excellence: Consistently exceed performance expectations in your current role. Demonstrating a track record of successful product launches and improvements can position you for promotions or salary negotiations.
• Negotiation Skills: Develop strong negotiation skills to effectively discuss salary increases during performance reviews or when offered new positions.
• Explore Opportunities: Consider opportunities in larger companies or those with a global presence, as they often offer higher salaries and more comprehensive benefits.

Educational Requirements

Most Product Manager roles in AI/ML/Data Science require a bachelor's degree in a relevant field such as Computer Science, Engineering, Data Science, or Business. However, a master's degree or MBA can be advantageous, especially for roles in larger organizations or those with a strategic focus. A strong understanding of AI/ML concepts and data analytics is essential, so coursework or experience in these areas is highly beneficial.

Helpful Certifications

While not always mandatory, certain certifications can enhance your profile and demonstrate your commitment to the field:

• Certified Scrum Product Owner (CSPO): Useful for understanding agile methodologies and product ownership.
• Google Cloud Professional Data Engineer: Demonstrates expertise in data engineering and cloud technologies.
• AWS Certified Machine Learning – Specialty: Validates your ability to design, implement, and maintain machine learning solutions on AWS.
• Coursera or edX AI/ML Specializations: These can provide a solid foundation in AI/ML concepts and applications.

Required Experience

Typically, 3-5 years of experience in product management or a related field is required for a Product Manager role in AI/ML/Data Science. Experience in managing AI/ML projects, working with cross-functional teams, and a proven track record of successful product launches are highly valued. Experience in data-driven decision-making and familiarity with AI/ML tools and technologies is also crucial.

Related salaries

Want to contribute?