A product manager is a very similar role to that of a product owner and both are often used interchangeably. However, there are some key difference between the two titles and their responsibilities. Typically, a product manager will focus on the strategy of the product’s vision, detailing how to deliver product that is in line with market research and company vision. A product owner has more understanding of the technicalities or delivering and developing the product and road map.
What Skills Does a Product Manager Need?
Product managers are simultaneously strategists, accountants and advocates for their products and the spokesperson for the product development team and as such require a variety of hard and soft skills. They need to be technically proficient as well as good project managers and team players.
Hard skills for Product Managers:
Product Managers will typically come from two backgrounds – some will go straight into a product role after university, while others will transition into it either from a technical position or another area of the business. Degree-level qualifications generally do not hold much weight, but having a sound technical knowledge does. This can be gained through a technical degree, through working with engineers in various business capacities and thus building an understanding, or through experience as a developer before moving into the role. Different companies will prefer different backgrounds depending on the technical nature of the role.
Related fields of study that are appropriate for a product manager include: communications, marketing, economics, public relations statistics, advertising and management. They will also require:
Knowledge of User Experience (UX) design
Understanding of technologies used in development
Data analysis and an understanding of the current market
Logic and creativity to deliver strategies
Soft skills are those generally associated with good leadership qualities: the ability to communicate well to a variety of audiences and team members including stakeholders and executives, task prioritisation, adaptability and commitment to the product. A product manager needs to be able to see a product all the way through development and testing with full commitment, adaptability is important, but having a strong vision of the final product and the drive to achieve it are fundamental.
What Industries do Product Managers Work In?
Product Manager will be found in pretty much any industry; some examples include:
The Internet of Things (IoT)
Banking and Finance
Salary Expectations for Product Managers?
Salaries can vary from industry to industry and are dependent on experience and expertise.
Product manager – starting salaries tend to be around £30,000-35,000 for graduates, rising as one’s level of experience grows. Product Managers can earn up to £100,000, and this can increase upon entering into more senior roles such as Head of Product of VP of Product.
Salary up to £57k + Bonus and benefits
Product Manager - London
Product Manager is required for an exciting and innovative Software House Company/Sports Betting based in London. The successful Product Manager will take ownership of areas of software within company’s archit...