Originally published on February 14, 2022
If you’re an aspiring product manager (PM), you’ve chosen a growing field with a promising future. More companies than ever are creating digital products, each of which creates an opportunity for those interested in becoming product managers.
If you crave autonomy, collaboration, and complex problem-solving in your professional life, you’ll be well-suited for a career in .
- Product managers oversee the , creation, and maintenance of physical, digital, and hybrid products.
- The field of product management is growing. Prospective PMs will likely find a number of job opportunities, but they will also encounter pressure to succeed in a competitive market.
- Being an effective product manager involves an eclectic skill set with expertise in areas such as leadership, communication, research, finance, project management, technology, and more. A background in software development can also be beneficial.
- There is no established path to becoming a product manager. Many develop relevant skills and experiences within other departments, such as marketing, analytics, or UX design.
What skills and qualifications do product managers need?
If you’re wondering how to get into product management, having a variety of skills and competencies is beneficial. Additionally, following Amplitude’s can also set you on the path to success.
Since products, businesses, and industries differ, not all product managers perform the same functions. However, most hiring companies will expect certain essential skills from prospective PMs.
PMs are usually capable of thinking strategically and analytically, and they understand the big picture as well as the small details. Successful product managers thrive in high-pressure environments, communicate easily, understand technology, and lead a team.
The role often includes the following responsibilities:
- Oversee the product lifecycle from early-stage concept to distributing and enhancing the product.
- Develop and/or refine the and overall strategy.
- Research industry topics that inform a given , such as customer interest, competition, profit margins, and market fit.
- Collaborate with and/or lead a team of professionals from multiple backgrounds, such as engineers, marketers, sales reps, and administrators.
- Determine a product’s and continuously track progress to gauge success.
- Analyze complex sets of analytics, such as , and draw actionable insights that govern decisions.
- Communicate product value to internal stakeholders, such as C-suite admins, and external stakeholders, such as PR firms or merchants.
- Manage multiple initiatives simultaneously, including timelines, release dates, and product updates.
What does a role in product management look like?
The role of a product manager involves . Through collaboration and deep industry expertise, they can guide a product from inception to market success.
Product managers determine the future of a product
Product managers are responsible for the entire lifecycle of a product, including conception, development, distribution, and improvement. One of their primary responsibilities involves making informed decisions about the product’s future. This involves deeply understanding a company’s technologies, processes, and employees.
Product managers work cross-functionally
Product managers usually lead a cross-functional team that may include members from marketing, , production, sales, customer success, or . A successful product manager harnesses the strengths of each team member to drive the product’s success.
Products can be virtual, physical, or a hybrid mixture of both, presenting job opportunities for PMs across industries.
Product managers have to be industry experts
Since products represent the result of an entire company’s efforts, product managers are involved in many aspects of the business. They study market trends, calculate profit and loss, test product features, develop long-term , and ensure customer satisfaction.
How to earn product management skills and land an interview
Product managers often learn the skills they need from being in another job first. Many PMs are former marketing or project managers, UX designers, product designers, or even software engineers.
If you’re an experienced professional in one of these backgrounds and you’re looking to get into product management, you may already have a number of transferable skills. These skills could and potentially an entry-level position.
If you lack relevant experience or want to improve your skills, there are several resources available.
Seek a learning opportunity in your current role
This is one of the quickest ways to earn valuable experience for a future PM role. Because skilled product managers will become increasingly difficult to hire, your company may provide a learning opportunity for you to grow into a new role. If you’re not currently on a product team, find out if your company has one.
If there are no positions available on the team, you can still express interest or even contact a product manager directly to learn more about the role or industry.
Meet real product managers to build your network
Networking is particularly useful for someone who wants to learn about the day-to-day tasks and responsibilities of a product manager. Talking to a few different PMs is one of the best ways to understand what the role is like and what skills you need. You may even meet someone who can check your resume, refer you to an open position, or even hire you directly.
If you don’t have access to a product manager at your current company, there are plenty of networking opportunities—for instance, LinkedIn hosts groups such as the , which has 150,000+ members. You can find other opportunities to connect on websites like , , and .
Learn a PM mindset by reading books and blogs
If you want to get into product management, find resources to help you start thinking like a real PM. Understanding the ins and outs of product management will give you a better idea of how to position yourself for hiring companies.
Reading and blogs will immerse you in the culture and give you a taste of what to expect from a PM role. For example, often recommend Marty Cagan’s book .
Companies like publish blogs written exclusively for product managers. Reading this kind of content keeps you tuned into the current PM zeitgeist and will help you understand what to highlight on your resume.
Earn a degree or certification
Traditionally, employers of PMs have preferred candidates with at least a bachelor’s in marketing, tech engineering, computer science, or another related discipline. However, the product management role has grown so popular that there are now accredited degrees and certifications available specifically for this career path.
Top universities like Carnegie Mellon offer . You can also earn a certification from . Either of these credentials, paired with any professional experience you already have, is sure to help your resume stand out.
The product management job role outlook is strong
Professionals seeking a career in product management in 2024 will likely find plenty of job opportunities. According to , there are over 125,000 active job listings for product manager roles in the U.S. The U.S. Bureau of Labor Statistics (BLS) does not provide data on the product management career but offers relevant info about adjacent career paths. The BLS projects a (from 2022 to 2032) for “Advertising, Promotions, and Marketing Managers.” Since many PMs come from these backgrounds, it’s reasonable to infer a shared pattern of growth.
Product manager salary and market trends
reports product manager salaries between $117K and $337K. Your salary may be even higher depending on your level of seniority and whether your company offers bonuses or stock options.
Aside from occupational data, economic trends and projections forecast a perfect climate for the growth of product manager positions:
- continues to rapidly change the digital retail space, with platforms like Instagram and TikTok becoming significant sales channels. Product managers are prioritizing social commerce strategies to reach a broader audience and capitalize on the growing number of social media users who trust these platforms for shopping.
- With the increase in social commerce, leading product teams prioritize a for users. For example, many PMs are integrating one-touch payment options like Apple Pay or Google Pay. This trend ensures seamless and user-friendly experiences on smaller screens, which is essential as mobile commerce continues to dominate the digital retail space.
- Artificial intelligence (AI) is another growing trend that PMs can capitalize on. One report shows that 72% of business leaders believe AI is beneficial in . In product management, automate repetitive tasks such as data analysis and report generation so that they can focus on more strategic initiatives.
Additionally, experienced product managers have more opportunities to grow in their career paths than in previous years. Organizational structures have changed in response to digital transformation, and PMs are finding themselves in positions of administrative leadership.
Companies now offer advanced roles with titles such as:
- Senior Product Manager
- Group Product Manager
- Senior Director of Product
- Chief Product Officer
- Chief Innovation, Technology, and Product Officer
If you’re interested in learning more about product management and how to hone your skills, consider signing up for a today.
References
- , Agile Insider
- , Shopify
- , CMSWire
- , U.S. Bureau of Labor Statistics
- , CFO
- , Coursera