How to make your mark in product management
Your go-to guide to being a product manager.
Hey! Yeah you!
Are you passionate about turning ideas into reality?
Stoked at the notion of shaping future products?
Love you some collaboration?
That’s product management right there.
And, if it sounds like you, you should check out the 2024 Talenza Salary Guide. You’ll find everything you need to know about the product management space including:
- Job opportunities
- Market conditions
- Salaries.
But first…what exactly is product management?
Product management in a nutshell
Over to Tom Shingler, principal consultant, Talenza, for this one. Tom spends his days recruiting for product manager jobs.
In short: he knows what organisations want – and what aspiring PMs need to do to succeed.
Tom confirms Product Managers are key to bringing ideas to life in an ever-changing environment.
“Product Manager jobs appeal to those who enjoy strategic influence and problem solving,” he tells us. “There’s also a lot of cross-collaboration, which makes for varied, interesting roles.”
So a career in product management is more than just a job. It’s an incredible opportunity to impact an organisation’s:
- Products
- Users
- Culture.
And, no matter where you sit in product management (think UX, UI and digital) those challenging (yet rewarding) roles all call for a blend of:
✅ Strategy
✅ Creativity
✅ Execution.
So what does that look like in 2024?
Today’s product management landscape
According to Tom, there’s a growing demand for technical managers who actually understand the software development lifecycle.
Specifically, ones with a deep understanding of APIs and SDKs. (That’s Application Programming Interface and Software Development Kit for those of you playing along at home).
“Companies are increasingly hiring product managers who can translate technical needs into actionable strategies,” Tom explains. “When organisations get that right, they can align customer demands with product development.”
In other words, it’s about bridging the gap between technical requirements and business needs.
Where can a product management career take you?
That depends on the organisation you work for – and the projects you’re part of. But the consistent theme here is diversity.
“Product managers juggle roles such as strategist, marketer and project manager,” Tom explains. “This variety is both stimulating and rewarding, involving close collaboration with a mix of teams.”
Ultimately, your job description will depend on where you land. You could find yourself at any of the following places.
Large organisation
At big corporates, you’d be:
- Navigating complex regulatory requirements
- Ensuring products meet customer needs
- Staying on top of compliance.
FinTech start up
Landed yourself a gig at the next PayPal? You’ll be heavily focused on innovation and driving products that disrupt traditional financial services.
Retail tech firm
Product manager jobs here are all about engaging customers. So, you’d be charged with merging digital and in-store shopping experiences together to attract (and keep) your customers.
Healthcare tech company
Patient outcomes matter in this industry. Whatever your role in product management is, it’ll be about improving those patient outcomes with innovative software solutions.
More about the skills required
Like we said, product managers are the link between tech and business. So, while you won’t need coding-level knowledge, you will need a solid grasp of the technical landscape.
And, because product managers often work closely with engineering teams, it pays to be across the specific tools and languages being used for your projects.
Top tip for thriving in your product manager job? Get your head around:
- Mobile apps
- Websites
- SaaS.
How much should you be getting paid?
You already know product management jobs are exciting and interesting.
But what exactly are your skills worth as a:
- Product manager
- UX expert
- UI guru
- Digital product manager?
The below table is a great guide – though of course, it will depend on your experience, specific skill set and the company you work for.
(As always, don’t settle for less than you deserve! Download the 2024 Talenza Salary Guide to discover your true market value).
Not sure where to start? Try these
As Tom points out, “Product manager roles offer rich learning experiences and a sense of ownership in shaping customer-centric products.”
But how do you actually…get there?
1. Do the (course) work
Whether you want to establish yourself in product management or build on your existing skills, look at these platforms:
These all offer courses tailored to current industry trends – and will up your PM knowledge big time.
2. Say yes to events
Networking is everything. Luckily, there are plenty of places to do just that.
3. Pave your own way
Internships or associate roles are ideal for opening the product management door. But they’re not the only way in!
You can transition from loads of other roles, including:
- Project manager
- Business analyst
- Software developer.
Keep your ear to the ground, be open to opportunities and back yourself all the way 💪.
Your path to product management
Think you’ve got the vision, creativity and technical know-how to nail a product manager job?
Learn more by downloading the Talenza Salary Guide today!