Salary for Senior-level / Expert Product Manager during 2024

Salary details

The average senior-level / expert Product Manager salary lies between USD 137,600 and USD 250,200 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: Nov. 17, 2024

Top 20 Job Tags for Senior-level / Expert Product Manager roles

The three most common job tag items assiciated with senior-level / expert 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 | 706 jobs Machine Learning | 574 jobs Research | 396 jobs Computer Science | 342 jobs Agile | 295 jobs Generative AI | 259 jobs SQL | 219 jobs LLMs | 188 jobs Privacy | 181 jobs Python | 168 jobs Security | 154 jobs Testing | 154 jobs Architecture | 152 jobs Data Analytics | 133 jobs UX | 131 jobs Data analysis | 130 jobs ML models | 128 jobs Market research | 116 jobs KPIs | 114 jobs Finance | 102 jobs

Top 20 Job Perks/Benefits for Senior-level / Expert Product Manager roles

The three most common job benefits and perks assiciated with senior-level / expert 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 | 674 jobs Health care | 421 jobs Equity / stock options | 418 jobs Competitive pay | 325 jobs Startup environment | 300 jobs Flex hours | 287 jobs Salary bonus | 268 jobs Flex vacation | 219 jobs Medical leave | 211 jobs Insurance | 211 jobs Team events | 202 jobs Parental leave | 181 jobs 401(k) matching | 144 jobs Wellness | 132 jobs Home office stipend | 61 jobs Unlimited paid time off | 59 jobs Transparency | 57 jobs Flexible spending account | 57 jobs Fitness / gym | 50 jobs Conferences | 36 jobs

Salary Composition

The salary for a Senior-level or Expert Product Manager in AI/ML/Data Science typically comprises a base salary, performance 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. Performance bonuses can vary significantly, often between 10% to 20%, depending on individual and company performance. Additional remuneration, such as stock options, can make up the remaining 10% to 20%, especially in tech companies or startups where equity is a significant part of the compensation.

Regional differences also play a role; for instance, salaries in tech hubs like San Francisco or New York tend to be higher due to the cost of living and competitive job market. Industry-wise, tech companies and financial services often offer higher compensation compared to other sectors. Company size can also influence salary composition, with larger companies typically offering more structured bonus and equity packages.

Increasing Salary Further

To increase your salary beyond the median of USD 180,000, consider the following strategies:

• Skill Enhancement: Continuously update your skills in AI/ML and data science, focusing on emerging technologies and methodologies.
• Leadership Roles: Aim for leadership positions such as Head of Product or VP of Product, which come with higher compensation.
• Industry Transition: Transitioning to a higher-paying industry, such as finance or healthcare, can also lead to salary increases.
• Networking: Build a strong professional network to learn about higher-paying opportunities and negotiate better offers.
• Advanced Education: Pursue advanced degrees or certifications that can justify a higher salary.

Educational Requirements

Most Senior-level Product Manager roles in AI/ML/Data Science require at least a bachelor's degree in a relevant field such as computer science, engineering, mathematics, or business. However, a master's degree or MBA is often preferred, especially for senior positions. These advanced degrees can provide a deeper understanding of both technical and business aspects, which is crucial for product management roles.

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 methodologies.
• Project Management Professional (PMP): Demonstrates strong project management skills.
• AWS Certified Machine Learning – Specialty: Validates your ability to design, implement, and maintain machine learning solutions.
• Google Cloud Professional Data Engineer: Shows proficiency in designing data processing systems.

Required Experience

Typically, a Senior-level Product Manager in AI/ML/Data Science is expected to have 7-10 years of experience in product management or related fields. This experience should include a strong track record of managing successful products, preferably in the AI/ML or data science domain. Experience in leading cross-functional teams, understanding customer needs, and translating them into product features is crucial.

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