Companies need to create high-performing and well-designed products to succeed. Hence, they need product managers who understand customers' needs to help them create high-quality products. A product manager undertakes feasibility studies to understand the target market and assist their employer in developing superior products that beat the competition.
A product manager monitors the evolution of a product from the initial concept to a revenue-generating product in the market. Your job is to find the right market for a product and tailor the design to suit target customers. Since you are in charge of actualizing the product vision, you create a roadmap for teams in product development to follow.
As a product manager, your work hours depend on the project you are working on and the employer. Most product managers work between 8 am and 6 pm on weekdays, translating to over 40 hours a week. However, you are likely to work outside the regular work hours. For instance, your employer will expect you to work overtime during product launches or development stages that need close monitoring. Apart from evenings, you have to work weekends to guide your teams or conduct research. Most project manager jobs are full-time positions, and part-time or short-term contracts are rare unless you manage a small project.
Some of the benefits include:
The challenges of a product manager job include:
Product manager interview questions will vary depending on the employer. However, you can expect the following questions:
A product manager resume should have the following information:
Your product manager's CV should be concise with relevant keywords if the employer uses an applicant tracking system. You can also boost your application with a cover letter showcasing your experience and tangible accomplishments that make you the perfect candidate. Your product manager cover letter should focus on your achievements and skills. Use action verbs and hard figures to emphasize the accomplishments.
Before becoming a product manager, you are likely to work as a product team member with shared or sole responsibility for product development. You won't be the only product manager in large companies, but you can become the senior product manager. From the senior product manager role, you should be ready to move into an executive position like vice president of product, chief technology officer, chief marketing officer or chief operations officer. Aside from moving to senior positions, you can shift to other specialties in product management and focus on technology products or design elements. After years of experience, you can become a consultant in the field.
Some of the specialisms for product managers include:
The average salary of a product manager in Canada is $90,000 per year, which is $46.15 per hour. When you are a junior product manager, your compensation package is $68,000 per year. Your earnings could increase up to $135,000 per year at the senior level. Your salary depends on your specialism, responsibilities and level of experience. When you are a technical project manager, your salary is higher due to the educational requirements and the scope of the role. Business product managers don't need technical expertise; hence the compensation package may be less. The company size also determines the pay structure and your earnings. Some organizations pay basic salaries and bonuses to product managers, while others give them shares in the company.
Top paying areas for product managers in Canada include: Alberta, British Columbia, Ontario, Quebec and Manitoba.
Some of the typical duties and responsibilities of a product manager include:
Product managers work in any company that creates products. Whether the organization makes technical, financial or manufactured products, your expertise will come in handy. Therefore, your employers include:
Some of the skills and competencies a product manager needs include:
A career as a product manager begins with a bachelor's degree in business or any relevant field. Technical product managers need a background in software development or engineering fields to gain the foundational principles of the role. An advanced degree is compulsory in many companies. If your first degree was non-business related, you need a master's in business administration to acquire management skills. You can also pursue certification courses from the Association of International Product Marketing and Management to boost your qualifications. After training, explore internships programs for on-the-job training.
Below are some of the most commonly asked questions about product manager jobs.
You need a degree in business management to become a product manager. If your job requires a technical background, you can join the profession from engineering or software development. While a master's degree isn't compulsory, it increases your prospects. You should also check out the relevant certifications that will boost your prospects.
Are you looking for product manager vacancies? Check out advertisements on various online platforms like social media and job boards. Some companies also advertise in newspapers or on their website. Alternatively, you can visit the Randstad job seeker section for sales and marketing jobs.
When you search for product manager jobs on Randstad, you can find suitable vacancies for your skills and qualifications. You can apply directly on our site by signing up or logging in to your account to send your details to the company.
You should apply for product manager jobs as they pop up on job boards. However, if you don't spend time online, you will miss out on job opportunities. Luckily, Randstad allows you to sign up for the newsletter and receive updates when new vacancies are added.
A product manager works with a team to develop and design a new product. You assist in drawing blueprints or researching the market to develop potential product features.
A product manager requires a bachelor's degree in any field, especially business or technical subjects. A master's degree is recommended if you don't have a business background or you can complete certification courses.
A product manager makes a significant contribution to a company's growth and revenues. Apart from basic salaries, a product manager should earn bonuses for successful products or receive shares from the company.