Product Owner Salary

The product owner plays a leadership role in their organization, usually a software company. Common employers for product owners include software companies, particularly those are developing new software or provide support to other companies. The product owner must have a good understanding of the software being developed and be able to communicate effectively with their coworkers. They also act as the manager of the product development team, helping nurture ideas, extract and retrieve information, determine the roadmap for the product, and work throughout the development process with the scrum team. The scrum team is typically under the product owner's supervision.

These managers are also expected to understand the customer or stakeholder's perspective, and be able to address their concerns and needs during product development. The product owner also works with other departments, such as marketing and sales, as needed. The product owner generally works in an office environment, usually with several co-workers in a small group.

The product owner position generally requires at least a bachelor's degree in a discipline related to the company's field; some companies may prefer a master's of business administration (MBA). Employers generally require at least two years of experience in the company's field, in addition to at least for or five years of experience managing product development. Some companies also look for experience working with a Scrum team. (Copyright 2017 PayScale.com)

Product Owner Tasks

• Write and capture user stories and user needs to communicate product objectives and requirements.
• Schedule and lead meetings to surface issues, identify fixes and advance projects.
• Manage daily project goals and product schedules, adjusting expectations and setting priorities.
• Work with customers, stakeholders and internal teams to create and customize products.

Surpassing the national average by 24 percent, Product Owners in New York receive some of the highest pay in the country. Product Owners will also find cushy salaries in St. Louis (+11 percent), Dallas (+11 percent), Philadelphia (+10 percent), and Boston (+9 percent). One of the biggest compensable factors for Product Owners is geography, with workers in Salt Lake City earning a whopping 36 percent below the national average. Workers in Cleveland and Austin earn salaries that trail the national average for those in this profession (33 percent less and 2 percent less, respectively).