Salary for Senior-level / Expert Product Manager in Canada during 2024

Salary details

The average senior-level / expert Product Manager salary lies between USD 112,622 and USD 200,000 in Canada. 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 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

In Canada, the salary composition for a Senior-level or Expert Product Manager in AI/ML/Data Science typically includes a mix 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, equity, or other benefits, can make up the remaining 10% to 20%. The exact composition can vary significantly depending on the region, industry, and company size. For instance, tech companies in major cities like Toronto or Vancouver might offer higher equity components, while smaller companies or those in less competitive regions might focus more on base salary.

Increasing Salary

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

• Skill Enhancement: Continuously update your skills in AI/ML and data science, focusing on emerging technologies and methodologies.
• Leadership Roles: Seek opportunities to lead larger teams or more complex projects, demonstrating your ability to drive significant business impact.
• Networking: Build a strong professional network within the industry to learn about higher-paying opportunities and gain insights into salary trends.
• Negotiation: Improve your negotiation skills to better advocate for higher compensation during performance reviews or when switching jobs.
• Advanced Education: Pursue advanced degrees or certifications that can justify a higher salary bracket.

Educational Requirements

Most Senior-level or Expert 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 the technical and business aspects of product management, which is crucial for success in this role.

Helpful Certifications

While not always mandatory, certain certifications can enhance your qualifications and make you more competitive in the job market. Some valuable certifications include:

• Certified Scrum Product Owner (CSPO): Demonstrates expertise in agile methodologies and product ownership.
• Project Management Professional (PMP): Validates your project management skills, which are crucial for leading product teams.
• AWS Certified Machine Learning – Specialty: Shows proficiency in deploying machine learning models on AWS, a valuable skill in many tech companies.
• Google Cloud Professional Data Engineer: Highlights your ability to design and manage data processing systems on Google Cloud.

Required Experience

Typically, a Senior-level or Expert Product Manager in AI/ML/Data Science is expected to have at least 7-10 years of experience in product management or related fields. This experience should include a strong track record of successfully launching and managing products, preferably in the AI/ML or data science domains. Experience in leading cross-functional teams, working with stakeholders, and driving product strategy is also essential.

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