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Product manager salary by location
Location impacts salary in two ways:
Cost of living: Simply put, a product manager in Silicon Valley is going to make more than a product manager in Houston, Texas. It costs a lot more to live in Silicon Valley, and the salaries of the people who reside there will reflect that.
Demand: In cities where the need for experienced product managers outpaces the supply, salaries naturally go up.
In the U.S., the average base salary for product managers is around $107,000.However, salaries are highest in major metros on the East and West Coasts. But when cost of living is factored in, most of the metro areas that offer the highest effective pay (meaning the salaries are higher and the cost of living is lower) are in the middle part of the country. And as with other competitive career tracks, companies will often pay to relocate outstanding product management candidates.
With this in mind, it is worth considering general median salaries and cost of living when reviewing product manager salary offerings.
U.S. West Coast
Median total salaries for product managers:
Los Angeles: $151,000
San Francisco: $187,000
Seattle: $166,000
Compare these salaries with the average cost of living in each location:
Los Angeles: 50% above the national average
San Francisco: 65% above the national average
Seattle: 45% above the national average
U.S. Midwest/Rocky Mountains
Median total salaries for product managers:
Chicago: $149,000
Denver: $139,000
Minneapolis: $138,000
The average cost of living in Midwest and Rocky Mountain states tends to be closer to the national cost of living average.
Chicago: 16% above the national average
Denver: 9% above the national average
Minneapolis: 7% below the national average
U.S. East Coast
Median total salaries for product managers:
Boston: $152,000
New York: $155,000
Much like the West Coast, the average cost of living in East Coast states tends to be well above the national average for cost of living.
U.S. South
Median total salaries for product managers:
Atlanta: $142,000
Charlotte: $139,000
Dallas: $139,000
The average cost of living in the South is typically closer to or below the national cost of living average.
Atlanta: 4% below the national average
Charlotte: 1% below the national average
Dallas: 1% above the national average
Europe
Countries with the highest general salaries in Europe fall in the Northern and Western regions, whereas Eastern and Southern European countries report lower average numbers. The median total salary for product managers in some major European cities varies widely.
Barcelona: €54,000
Madrid: €50,000
Berlin: €76,000
Munich: €81,000
Luxembourg: €78,000
Dublin: €88,000
London: £68,000
Paris: €62,000
Rome: €48,000
Zurich: ₣128,000
European countries with the highest cost of living are Switzerland, Iceland, and Norway.
Australia
The average base salary range for a product manager in Australia is between AU$115,000 and AU$160,000 per year, with additional cash compensation ranging from AU$8,000 to AU$20,000. The average total salary for product managers in major Australian cities remains fairly close to the national average.
Brisbane: AU$120,000
Melbourne: AU$135,000
Perth: AU$125,000
Sydney: AU$145,000
The average cost of living in Australia tends to be higher than in the rest of the world. It is just over 2% lower than the cost of living in the U.S. on average, and Sydney ranks as the 55th and Perth as the 137th most expensive city worldwide (based on the cost of living index).
New Zealand
The median total salary for product managers in New Zealand is NZ$138,000. Like in Australia, the average product manager salary in New Zealand's major cities is similar to the national average.
Auckland: NZ$132,000
Wellington: NZ$135,000
Auckland ranks as the 142nd and Wellington as the 127th most expensive city worldwide (based on the cost of living index).
A final note on location: Like many fields, product management now has more opportunities for remote and hybrid work. Many product managers are able to work on or lead a product team from wherever they choose to live. For example, our team at Aha! is fully distributed and folks come from all over.
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Product manager salary by industry
Product managers — especially those with a lot of knowledge, experience, or skills in certain fields — are in demand. Currently, the five industries ready to pay the most for qualified candidates in the U.S. are:
Financial services: $147,000
Aerospace and defense: $146,000
Telecommunications: $144,000
Energy, mining, and utilities: $144,000
Legal: $142,000
Few industries can match the pay found in the tech industry. The average base pay range for a product manager in IT is $117,000 to $172,000, and salaries can get much higher within leading technology companies, according to Glassdoor.
| Low | Median | High |
Amazon | $194,000 | $236,000 | $296,000 |
Google | $269,000 | $331,000 | $418,000 |
Meta | $299,000 | $368,000 | $465,000 |
Microsoft | $198,000 | $236,000 | $286,000 |
Apple | $258,000 | $319,000 | $403,000 |
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How education impacts product manager salaries
Most product managers have a college degree, and many have an advanced degree (such as a Master of Business Administration). College majors do not have a large impact on salary, but they can affect the chance of new graduates landing a job more easily. If you are interested in becoming a product manager, consider concentrating in business or technology and pursuing relevant internships or co-op placements. This could give you an edge over other candidates.
College degrees for product managers
Getting a degree in finance, computer science, or business can serve as a helpful foundation for developing the necessary technical and analytical skills. (You will also need strong people skills to manage a product.) Some schools are even creating specialized tracks or courses geared toward a career in product management. A few such programs are available to students at Harvard University, Cornell University, and Carnegie Mellon University.
Certifications for product managers
Beyond securing a relevant degree and some work experience, product managers can build out competitive skills by obtaining professional certifications and periodically enrolling in continuing education courses. These are just a few of the programs available to deepen product managers' understanding and mastery of their craft:
Beyond technical training, there are a few more personal attributes you can focus on nurturing — such as transparency, candor, accountability, and a passion for process.
Related:
Yes, product management is currently one of the highest-paying jobs at technology companies. But the best part of the job is not the money. The true reward of being a product manager comes from transforming the most valuable ideas into reality and delivering lovable products to customers.
If you are interested in becoming a product manager and want to hear about what they do, listen to product manager Chrissi McNamara talk about her experience. Chrissi is on the Aha! PM/UX team, where she helps build and release new customer experiences to empower product teams around the world.
Editor's note: Although some of the branding in the video below might be out of date, the information is still relevant. Chrissi's surname has also changed since this recording.
