Salary for Entry-level / Junior Product Manager during 2024

Salary details

The average entry-level / junior Product Manager salary lies between USD 67,000 and USD 141,300 globally. 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.

All data shown are full-time equivalent (FTE) salaries. Part-time salary information has been extrapolated to its FTE value.

Last updated: Dec. 22, 2024

Top 20 Job Tags for Entry-level / Junior Product Manager roles

The three most common job tag items assiciated with entry-level / junior Product Manager job listings are Engineering, Python and Computer Science. 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 | 23 jobs Python | 19 jobs Computer Science | 18 jobs SQL | 17 jobs Machine Learning | 16 jobs Research | 14 jobs R | 11 jobs Agile | 11 jobs Statistics | 11 jobs UX | 8 jobs Scrum | 7 jobs Architecture | 7 jobs Data analysis | 7 jobs LLMs | 7 jobs Big Data | 6 jobs Testing | 6 jobs Business Analytics | 6 jobs Excel | 6 jobs Oracle | 5 jobs Tableau | 5 jobs

Top 20 Job Perks/Benefits for Entry-level / Junior Product Manager roles

The three most common job benefits and perks assiciated with entry-level / junior Product Manager job listings are Career development, Health care and Flex hours. 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 | 27 jobs Health care | 15 jobs Flex hours | 13 jobs Equity / stock options | 12 jobs Medical leave | 12 jobs Team events | 11 jobs Parental leave | 10 jobs Flex vacation | 8 jobs Insurance | 8 jobs Competitive pay | 7 jobs 401(k) matching | 6 jobs Salary bonus | 6 jobs Flexible spending account | 6 jobs Startup environment | 5 jobs Wellness | 4 jobs Gear | 2 jobs Snacks / Drinks | 2 jobs Fitness / gym | 1 jobs Transparency | 1 jobs Conferences | 1 jobs

Salary Composition

The salary for an entry-level or junior product manager in AI/ML/Data Science typically consists of a base salary, performance bonuses, and additional remuneration such as stock options or benefits. The base salary is the fixed component and usually makes up the majority of the total compensation package. Performance bonuses can vary significantly depending on the company's success and individual performance, often ranging from 5% to 20% of the base salary. Additional remuneration might include stock options, especially in tech companies or startups, and benefits like health insurance, retirement plans, and paid time off. The composition can vary by region, with tech hubs like Silicon Valley offering higher base salaries and more lucrative stock options. Industry and company size also play a role; larger companies might offer more comprehensive benefits, while startups might compensate with equity.

Steps to Increase Salary

To increase your salary from an entry-level position, consider the following strategies:

• Skill Development: Continuously improve your technical and managerial skills. This could involve learning new programming languages, mastering data analysis tools, or gaining expertise in AI/ML frameworks.
• Networking: Build a strong professional network within the industry. Attend conferences, join relevant online communities, and connect with mentors who can provide guidance and opportunities.
• Performance Excellence: Consistently exceed performance expectations. Demonstrating your ability to deliver results can lead to promotions and salary increases.
• Advanced Education: Pursue further education, such as a master's degree or specialized certifications, to enhance your qualifications and make you more competitive for higher-paying roles.
• Negotiation Skills: Develop strong negotiation skills to effectively advocate for salary increases during performance reviews or when offered new positions.

Educational Requirements

Most entry-level product manager positions in AI/ML/Data Science require at least a bachelor's degree in a relevant field such as computer science, data science, engineering, or business. Some employers may prefer candidates with a master's degree, especially in more technical roles. A strong foundation in mathematics, statistics, and programming is often essential, as is an understanding of AI/ML concepts and data analysis techniques.

Helpful Certifications

While not always required, certain certifications can enhance your qualifications and demonstrate your commitment to the field. Some valuable certifications include:

• Certified Scrum Product Owner (CSPO): Useful for understanding agile product management practices.
• Google Data Analytics Professional Certificate: Provides foundational data analysis skills.
• AWS Certified Machine Learning – Specialty: Demonstrates expertise in deploying machine learning models on AWS.
• Coursera's AI for Everyone by Andrew Ng: Offers a broad understanding of AI concepts and their applications.

Required Experience

For an entry-level position, employers typically look for candidates with some relevant experience, which can be gained through internships, co-op programs, or project work during your studies. Experience in product management, data analysis, or software development is advantageous. Demonstrating a strong understanding of the product lifecycle, user experience, and market research can also be beneficial.

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