Product Manager Salary in United States during 2024

Salary details

The average Product Manager salary lies between USD 140,000 and USD 246,000 in the United States. 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 | 1290 jobs Machine Learning | 989 jobs Research | 725 jobs Computer Science | 624 jobs Agile | 577 jobs Generative AI | 438 jobs SQL | 426 jobs Python | 376 jobs LLMs | 327 jobs Privacy | 323 jobs Architecture | 315 jobs Security | 304 jobs Testing | 290 jobs Data analysis | 272 jobs Data Analytics | 253 jobs UX | 225 jobs KPIs | 215 jobs Finance | 211 jobs ML models | 210 jobs R | 209 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 | 1240 jobs Health care | 782 jobs Equity / stock options | 683 jobs Competitive pay | 579 jobs Startup environment | 510 jobs Flex hours | 490 jobs Salary bonus | 420 jobs Flex vacation | 370 jobs Insurance | 359 jobs Medical leave | 347 jobs Team events | 330 jobs Parental leave | 313 jobs Wellness | 260 jobs 401(k) matching | 243 jobs Transparency | 113 jobs Flexible spending account | 99 jobs Unlimited paid time off | 95 jobs Home office stipend | 94 jobs Fitness / gym | 78 jobs Conferences | 70 jobs

Salary Composition

In the United States, the salary composition for a Product Manager in AI/ML/Data Science typically includes a combination of base salary, bonuses, and additional remuneration such as stock options or equity. The base salary often constitutes the largest portion, ranging from 60% to 80% of the total compensation package. Bonuses, which can be performance-based or company-wide, usually account for 10% to 20%. Additional remuneration, such as stock options or equity, can vary significantly depending on the company size and industry, often making up 10% to 30% of the total package.

• Region: Salaries can vary by region, with tech hubs like San Francisco, New York, and Seattle offering higher compensation due to the cost of living and competitive job markets.
• Industry: Tech companies, especially those focused on AI and machine learning, tend to offer higher salaries compared to other industries.
• Company Size: Larger companies often provide more comprehensive compensation packages, including significant equity components, while startups might offer lower base salaries but higher equity stakes.

Increasing Salary

To increase your salary from a Product Manager position in AI/ML/Data Science, consider the following strategies:

• Skill Enhancement: Continuously update your skills in AI/ML technologies and data science methodologies. This can include learning new programming languages, tools, or frameworks that are in demand.
• Leadership Roles: Aim for leadership positions such as Senior Product Manager, Director of Product, or VP of Product. These roles typically come with higher compensation.
• Industry Transition: Moving to a more lucrative industry, such as finance or healthcare, where AI/ML applications are highly valued, can lead to higher salaries.
• Networking: Build a strong professional network to learn about higher-paying opportunities and gain insights into salary trends.

Educational Requirements

Most Product Manager roles in AI/ML/Data Science require at least a bachelor's degree in a relevant field such as computer science, engineering, data science, or business. However, a master's degree or an MBA can be advantageous, especially if it includes a focus on technology management or data analytics. Some roles may also require a background in AI/ML, which can be demonstrated through coursework or relevant projects.

Helpful Certifications

While not always mandatory, certain certifications can enhance your profile and demonstrate your expertise:

• Certified Scrum Product Owner (CSPO): Useful for understanding agile product management.
• Google Cloud Professional Data Engineer: Demonstrates proficiency in data engineering and machine learning on Google Cloud.
• AWS Certified Machine Learning – Specialty: Validates expertise in building, training, and deploying machine learning models on AWS.
• Product Management Certifications: Offered by institutions like Pragmatic Institute or General Assembly, these can provide a solid foundation in product management principles.

Experience Requirements

Typically, a Product Manager in AI/ML/Data Science is expected to have 3 to 5 years of experience in product management or a related field. Experience in AI/ML projects, data analysis, or software development is highly valued. Additionally, experience in leading cross-functional teams and managing product lifecycles is crucial.

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