Product Manager, Financial Services Salary
The average salary for a Product Manager, Financial Services is $85,852 per year. Most people with this job move on to other positions after 20 years in this field. The highest paying skills associated with this job are Product Marketing, Business Strategy, Financial Analysis, and SQL.
Job Description for Product Manager, Financial Services
Product managers in financial services are chiefly responsible for overseeing sales associates and other financial representatives to ensure performance quotas are met. In general, these managers oversee a particular region, serving several different branches or offices of a company. Some product managers for financial services work with certain groups of clients, such as a demographic classification, rather than a particular geographic region. For example, one manager might oversee representatives selling financial products to residents of the Upper Midwest, whereas another might oversee representatives selling to retirees within a certain range of account balances.Read More...
Most companies require their product managers in financial services to hold at least a bachelor’s degree in a finance-related field, such as accounting and business; many hold bachelor’s degrees in other areas, but receive special field-specific training. Many financial product companies require their product managers to holder graduate degrees, such as a master's of business administration (MBA). Others might require special licensing or certification, such as a securities license from a state-specific regulator. Many individuals take the National Commodities Futures Examination, which enables individuals to sell futures and related options.
Product managers in financial services typically work full time during regular business hours in an office environment. However, overtime may frequently be required according to sales volumes as deadlines approach. Depending on the sales representatives and associates that managers oversee, some travel might be required. Many types of institutions employ financial services product managers, including banks, mutual funds, and insurance agencies.
Product Manager, Financial Services Tasks
- Work together with sales, marketing, and product developers to create new products and services and make sure sales goals are met.
- Ensure products and services have clear differences from those offered by competitors.
- Evaluate current products and services to determine needs for upgrades and improvements.
- Identify market trends and needs, and translate them into ideas for new products and services.
- Develop sales plans for new products which will allow the company to achieve revenue objectives.
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