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Career as Product Manager

Career as a Product Manager

About Product Manager

Product Manager is a person who is responsible for improving the product as per the need of the customer and organisation. Besides this, he also manages the lifeline of the product starting from designing of product to conducting a final test. The main job of the Product Manager is to make strategic decisions related to product management and provide in-depth expertise required to improve the product. This profile is one of the most important profiles in every industry, especially in the IT and manufacturing companies. Sometimes, Product Manager also has to take care of the marketing and promotion activities required to promote the product. He also works closely with marketing, engineering, sales, and support to ensure customer satisfaction goals are met.

Responsibilities of a Product Manager

Check some major responsibilities of a Product Manager provided below.

  • Gathering, prioritizing and managing market as well as customer requirements

  • Defining the strategy, vision and roadmap of the product

  • Coordinating with the technical and marketing team to discuss the details about the product

  • Running pilot and beta programs before releasing the final product

  • Providing suggestions about the product pricing

  • Analyzing the market and finding ways to promote the product

Eligibility to become Product Manager

Candidates will have to meet some of the eligibility requirements decided by the company to become Product Manager. The eligibility criteria for becoming a Product Manager are set out below.

Education Required

  • Bachelor’s degree in business or a related field

  • Those who have completed the bachelors’ degree in economics, advertising, marketing, communications and statistics will be preferred

  • Some of the companies hire candidates who have completed a master’s degree in management

Work Experience

  • Work experience of 2-3 years in product management 

Skills

Some of the skills required for a Product Manager are:

  • Business Expertise

  • Leadership Skills

  • Operational Ability

  • Leadership Skills

  • Strategic Thinking

  • Analytical Skills

  • Quantitative Skills

  • Time Management

  • Negotiating Skills

Courses to become a Product Manager

The table provided below contains the list of courses that you can pursue in order to become a Product Manager. You can apply to these courses by filling our Common Application Form

Course

Total Fee (Approx)

Top Colleges for Business Management

Bachelor of Business Administration

Rs. 27,000 to Rs. 8.00 lakh

 

Bachelor of Business Management

Rs. 45,000 to Rs. 3.00 lakh

MBA in Business Management

INR 1 lakh to INR 6 lakh

MBA Project Management

Rs. 20,000 to Rs. 3.00 lakh

Masters of Business Administration

Rs.15,000 to Rs. 25.00 lakh

Types of Job Roles Product Manager

A Product Manager is responsible for developing strategic plans to create a product and to find the targeting audience for the product. His job duties also include creating marketing strategies and coordinating with the marketing team to promote the product. The job roles of a Product Manager will vary from company to company. Some of the companies hire a Product Manager to improve their existing product while startups hire a Product Manager to design a product for them. Some of the major job profiles available for a Product Manager are listed below. 

Employment Opportunities for Product Manager

Product Managers are mostly hired by IT companies. They can also apply for a job at some other sectors such as Financial Services, Healthcare Companies, Manufacturing Companies, Banks and Government agencies. You can check the graph provided below to know the types of companies where a Product Manager can apply for a job. 

Employment Opportunities for Product Manager

If you want to know more job opportunities available for Product Managers, then you can ask questions on the Collegedekho QnA zone

Top Recruiting Agencies for Product Manager

Some of the major recruiting companies for Product Manager are listed below.

  • Cisco

  • HCL

  • Amazon

  • Tata Consultancy Services

  • Google

  • IBM

  • Microsoft

  • Cognizant

  • HP

Planning to choose Product Manager as your career?

Pay Scale/Salary of Product Manager

The average salary of a Product Manager will vary according to his experience and skill set. You can check the average salary of a Product Manager from the table provided below.

Profile

Starting Salary per annum (in INR)

Mid Level Salary per annum (in INR)

Senior Level Salary per annum (INR)

Product Manager

7,25,000

12,09,000

15,00,000

Salary of Product Manager

 

Books & Study Material to Become Product Manager

Here are some recommended books for Product Manager.

  • INSPIRED: How to Create Tech Products Customers Love Book by Marty Cagan

  • Product Leadership by Martin Eriksson, Nate Walkingshaw, and Richard Banfield

  • The Product Manager's Survival Guide by Steven Haines

  • The Art of Product Management by Rich Mironov

  • Escaping the Build Trap by Melissa Perri

  • Managing Product Management by Steven Haines

Pros of becoming a Product Manager

  • It is a creative job. You can utilise your creativity to design new products

  • You will get to learn new things every day

  • Salary of a Product Manager is very high

  • This profile will help you develop your leadership skills

Cons of becoming a Product Manager

  • You will always have to stay focused and active 

  • You will be responsible for the failure of a product

  • This profile requires a lot of hard work and creativity

  • TIt can get really hectic with a lot of workload on your shoulders

Paths for Being Product Manager

FAQs about Product Manager

What are the employment opportunities for Product Manager?

Product Manager can apply to any industry such as IT, manufacturing, education, financial services and healthcare companies.

Who does the Product Manager report to?

Product Manager reports either to the company's CEO or to the head of the product of the company.

What are the major recruiters for Product Manager?

Some of the major recruiters for Product Manager are Tata Consultancy Services, Google, IBM, Microsoft and Cognizant.

What job profiles are available for a Product Manager?

Some of the job profiles available for a Product Manager are Sales Manager, Project Manager, Marketing Manager and Business Development Manager.

What are the courses to become a Product Manager?

Some of the courses to become a Product Manager are Bachelor of Business Administration, MBA Project Management and Masters of Business Administration.

What is the average salary of a Product Manager?

The average salary of a Product Manager will depend on his experience and skills. A Product Manager who has a working experience of 3-4 can earn up to 9 lakh per annum.

Does Product Manager need an MBA?

No, candidates who have completed a bachelor’s degree in management or any other relevant field may also apply for a job as Product Manager.

Is it necessary to have a technical background in order to become a Product Manager?

No, if you have completed your education from the nontechnical branch then also you can become a Product Manager. You just need management skills and a good understanding of the marketing strategies.

What skills does a Product Manager need?

Some of the skills required for a Product Manager are analytical skills, leadership skills, communication skills and time management skills.

What does a Product Manager do?

Product Manager is responsible for creating new product and improving the existing product as per the need of the customers.

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