Associate Product Manager Salary
Average Associate Product Managers in the United States make around $64K annually. In the world of Associate Product Managers, total cash compensation can vary between $46K and $96K. Each package generally includes bonuses and profit sharing proceeds, and in exceptional cases, those amounts can reach heights of $10K and $14K, respectively. The most influential factor affecting pay for this group is the specific employer, though geography and years of experience have a (lesser) impact as well. Medical benefits are awarded to nearly all, and most earn dental coverage. Men are slightly outnumbered by their female counterparts who answered the questionnaire, who make up a slight majority at 51 percent. Most workers in this position report high levels of job satisfaction. Respondents to the PayScale salary survey provided the data for this report.
Job Description for Associate Product Manager
Associate product managers are in charge of managing an organization's product-related processes and materials. They are responsible for developing effective strategies to increase product output and overall company productivity, and so they must have an advanced understanding of production procedures and product allocation. Associate product managers implement data systems, in addition to providing adequate training for product handling. They must have leadership skills and work well with other managers to reach company product goals. They also need excellent research skills to propose new product ideas.Read More...
Associate product managers prioritize product processes as needed and work with other departments within their company to create more attractive products. They also conduct document analysis, as well as design and implement product requirements according to projects' timelines and scopes. These managers serve as a liaison between their company and external customers to increase customer satisfaction. They also interact with vendors and clients to increase brand loyalty and sales. Associate product managers must also stay on top of market needs to develop improved product offerings. Additionally, they work to identify technical product issues and recommend solutions that conform to existing business plans and objectives.
Successful associate project managers are highly analytical problem solvers who can effectively multitask. They have strong verbal and written communication skills as well. A bachelor's degree in business, management, or related field is required; previous managerial experience may be preferred.
Associate Product Manager Tasks
- Determine the demand for products and services offered by a firm and its competitors.
- Oversee product development and monitor trends that indicate the need for new products and services.
- Develop pricing strategies to maximize the firm's profits and market share.
Common Career Paths for Associate Product Manager
Associate Product Managers often transition into Senior Product Manager positions, for which compensation tends to be much higher. On average, Senior Product Managers earn $124K per year. Typical career progression for an Associate Product Manager involves becoming a Product Manager or a Product Marketing Manager, roles that pay $11K more and $23K more on average.
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Popular Employer Salaries for Associate Product Manager
Those at Workday, Inc. can expect to make the most, with the company offering a median salary of $93K.
Popular Skills for Associate Product Manager
Associate Product Managers seem to wield many skills on the job. Most notably, skills in Agile Software Development, Agile, Business Analysis, and User Interface Design are correlated to pay that is above average, with boosts in pay of 11 percent. At the other end of the pay range are skills like Marketing Communications, Product Support, and Product Marketing. Most people familiar with Product Development also know Product Marketing and Market Analysis.
Pay by Experience Level for Associate Product Manager
Median of all compensation (including tips, bonus, and overtime) by years of experience.
For Associate Product Managers, more experience in the field does not usually mean bigger paychecks. In this position, someone who has worked for fewer than five years can expect a median salary of $65K. The median for people with five to 10 years of experience is only a little bit higher at $68K. On average, Associate Product Managers make $72K following one to two decades on the job. After two decades in the workforce, the average Associate Product Manager generally earns more than ever; median pay for this group is estimated at $75K.
Pay Difference by Location
Irvine is home to an above-average pay rate for Associate Product Managers, 33 percent higher than the national average. Associate Product Managers can also look forward to large paychecks in cities like San Francisco (+26 percent), Washington (+10 percent), Seattle (+7 percent), and Boston (+6 percent). Associate Product Managers often earn below-average salaries when they head to small cities. Specifically, Denver, Cleveland and Portland, all areas with populations short of a million, represent the three worst-paying cities for Associate Product Managers in the United States. Not at the bottom but still paying below the median are employers in Cleveland and Portland (16 percent lower and 10 percent lower, respectively).
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