The average pay for a Product Owner is $48.36 per hour.
The average pay for a Product Owner is $82,115 per year.
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Job Description for Product Owner
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.
Read More...- 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.
Popular Employer Salaries for Product Owner
Product Owners fill the offices of leading firms Applied Systems, Inc., MRI Software, American Express Co. (AMEX), Western Governors University (WGU), and Capital One Financial Corp. Those at American Express Co. (AMEX) can expect to make the most, with the company offering a median salary of $102K.
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Popular Skills for Product Owner
Product Owners seem to exploit a large range of skills on the job. Most notably, facility with ScrumMaster, Data Analysis, and Business Intelligence are correlated to pay that is significantly above average, leading to increases of 24 percent, 20 percent, and 12 percent, respectively. Skills that seem to negatively impact pay include Scrum. Most people experienced in Project Management also know Agile.
Pay by Experience Level for Product Owner
Pay by Experience for a Product Owner has a positive trend. An entry-level Product Owner with less than 5 years of experience can expect to earn an average total compensation of $72,000 based on 524 salaries provided by anonymous users. Average total compensation includes tips, bonus, and overtime pay. A Product Owner with mid-career experience which includes employees with 5 to 10 years of experience can expect to earn an average total compensation of $91,000 based on 294 salaries. An experienced Product Owner which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of $105,000 based on 190 salaries. A Product Owner with late-career experience which includes employees with greater than 20 years of experience can expect to earn an average total compensation of $119,000 based on 54 salaries.
Pay Difference by Location
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).
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Key Stats for Product Owner
Gender
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Female
41 % |
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Male
59 % |
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Job Satisfaction
| Extremely satisfied |
Rated 5 out of 5 based on 436 votes. |
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