Once you prove yourself at this level, you are given responsibility for complex products that have multi-crore budgets. Over time, you are given responsibility for complete subsystems or simple products. You start your career by taking responsibility for one or two simple features in a complex product. On the other hand, if a person wants to continue building a career within the organisation, it is perhaps one of the best paths towards becoming a COO or CEO. Product Managers can choose to become entrepreneurs who start their own companies. These numbers indicate that this is the best time for Product Management aspirants to build a career in this function. Their job is critical, and business owners understand that a good Product Manager can do wonders for the success of their venture.Ĭurrently, in the country, there are more than 46,000 vacant Product Management jobs available only on LinkedIn. Today, they are at the heart of all business strategies. The number of vacancies for Product Managers is increasing almost daily. Not only this, big IT giants like Amazon, Google, or well-funded startups, offer industry veterans an annual package of over INR 1 crore. A fresher currently earns an average total compensation of INR 13 lakh annually, while a Senior Product Manager can expect around INR 57 lakh annually. Product Management is highly remunerative. If these dimensions excite you, perhaps Product Management is the right career choice for you.īut is there a real career in Product Management? And of course, the kind of technology is dependent on the kind of product or service that the organization wants to release into the market. Last, the Product Manager must be very comfortable with technologies of various kinds. If this understanding is flawed, the end-product or service developed will also be flawed. The person must also have a very deep understanding of the markets and customers that the product is targeted at. This includes functions like marketing, sales, finance, supply chain and R&D among others. To bring a new product into the market requires bringing many people together.Ī Product Manager must also have the ability to understand and leverage various functions within the organisation. But is Product Management the right career choice for you?įirst, a Product Manager must be comfortable working with and through people from different functions, departments, roles etc. Often referred to as the 'CEO' of the Product, the Product Manager's role is undoubtedly alluring. They play a pivotal role in bringing new products and services to the market. A product manager works and the intersection of people, finance and technology.
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