Updated: November 13, 2024- 12 min read
Engineers build the product. Designers ensure it’s usable and looks great. Sales and marketing get people to buy it. So, what is the job of the Product Manager?
We know that Tech companies use Product Managers (PMs) to lead their products to greatness, but precisely what a Product Manager does is not so easy to define, even within organizations that have product teams! The role is quite fluid, and every company has a slightly different interpretation of the skills a Product Manager should have.
That said, certain responsibilities and day-to-day activities apply to most, if not all, Product Managers. We will cover those here, plus information on salaries, career paths, and how to be the best version of a PM. Let’s get started!
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What Is a Product Manager?
A Product Manager sits at the intersection between business and technology and works as the middle person between the two. Their function is to translate business goals to the engineering teams and to report on product development progress to superiors.
That makes the job sound simple, but sitting at the intersection involves a whole host of tasks, tools, relationships, and strategies. And meetings. Always plenty of meetings!
A common analogy for a PM is that they’re the CEO of the product, but that’s not quite right either. People say this because CEOs have a broad overview of their company, and PMs have a bird’s eye view of the product. They both work with cross-functional teams, elevate the company/product vision, and are ultimately responsible for the company/product.
But calling a PM a CEO bestows them with power that they just don’t have. If an engineer disagrees with the PM, the PM has to use their influence and not their authority to change their mind.
At Product School, we like to think of PMs as orchestra conductors. They know how to play a few instruments, but they can’t play them all! Instead, they guide the musicians in the symphony. They ensure everyone does their part to turn the score—a series of dots and lines on a page—into the music.
What Does a Product Manager Do? Product Manager Job Description
A Product Manager identifies the customer need, aligns new Products or features with larger business objectives, articulates what success looks like for a Product, and rallies a cross-functional team to turn that vision into a reality.
Product Manager Responsibilities:
Determine and prioritize requirements for a specific Product feature
Research customer pain points and conduct “root cause analysis”
Work closely with design teams to improve the holistic customer experience
Outline and execute a detailed Product strategy
Manage cross-functional teams through influence
Manage Product roadmaps and releases
Understand and communicate Product selling points
Identify and fill Product gaps
Generate new product ideas grounded in research and data
Develop Product pricing and positioning strategies in collaboration with Product Marketing and/or Demand Generation teams
Work alongside engineering teams
Work with PR and marketing teams to manage Product launches
Act as a Product spokesperson and represent the company at public events
Product Manager Job Requirements:
Bachelor’s or advanced degree in Business, Marketing, Computer Science, Engineering, or a related field or equivalent experience preferred
1-5 years of experience in a Product-related role
Previous experience in a Product development or product management position is a plus
Proven Product development ability
Ability to understand technical concepts and work with technical teams is a must
Technical background with experience in software development or web technologies is a nice to have
Attention to detail and good problem-solving skills
Excellent interpersonal skills
Good written and verbal communication
Exceptional leadership skills
Product Manager salary
Product Managers’ salaries vary almost as much as their responsibilities! Key factors that affect salaries include location, experience, and the scope of the role. In the US, the average salary is $126,000 (based on the average of aggregate data reported to Comparably, Glassdoor, Indeed, Levels FYI, Zippia, and Built In).
How to Become a Product Manager
There are many paths that lead to Product Management, including transitioning from a related field. If you’re starting from scratch, these steps will help orient you as you make your way to becoming a PM:
Foundational knowledge: Begin with articles, books, and introductory courses to understand the fundamentals of product management. This includes the product lifecycle, market research, user persona creation, and basic analytics. Reflect on your current skills and interests and identify gaps in your knowledge to help you focus your learning efforts.
Get certified: Obtaining certifications from reputable institutions or industry-recognized programs can also validate your expertise and commitment to the profession, making you a more attractive candidate for advanced product management roles.
Practical application: Apply what you’ve learned by working on personal or volunteer projects. This hands-on experience is invaluable and can be added to your portfolio to showcase your abilities to potential employers.
Build a product portfolio: Creating a product portfolio can help you when searching for a product management job, as it's very likely that a hiring company will ask to see it.
Networking: Connect with product managers and industry professionals through networking events, online forums, and social media. These connections can provide mentorship, advice, and potential job opportunities.
Job Search Strategy: Tailor your resume and LinkedIn profile to highlight your relevant skills and experiences. When applying for positions, focus on roles that match your skill set and offer growth opportunities.
Interview preparation: Prepare for interviews by practicing common product management interview questions, focusing on behavioral questions, case studies, and problem-solving scenarios.
Land a Product Management job: Remain open to what you still have to learn, seek out mentorship, and learn from your mistakes. Go easy on yourself; you’re just getting started!
Cover Letter Template
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Get Started for Free: Advancing Your Skills with Micro-Certifications
Continuous skill development is key to advancing your career in product management. Product School offers free micro-certifications that are perfect for budding product managers, especially the Product Strategy Micro-Certification.
Enrolling in Comprehensive Certification Programs for In-Depth Product Experience
If you're ready to dive in head first and commit to an exciting career in product management, then a comprehensive certification program is a great option.
The Product Manager Certification (PMC)™ by Product School is designed and led by some of Silicon Valley's most successful product managers and beyond. This certification is designed to equip you with the knowledge, skills, and practical experience needed to excel as a product manager. The program is taught online, live, and in small groups, offering personalized instruction and interaction. Join us and transform your passion for products into a successful career!
A Day in the Life of a Product Manager
The day-to-day tasks of a PM are often focused on a particular product. They manage the feature backlog, review user testing, and coordinate with design and GTM teams to make sure the product aligns with business objectives. Of course, as one product ships, another comes to take its place, so there will be some overlap.
9:00 AM
Review and prioritize the product backlog by estimating the Cost of Delay for two different features of a new mobile banking app.
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11:30 AM
Conduct a cross-functional meeting with engineering, marketing, and design teams to discuss the launch strategy for the mobile app.
Product Launch Checklist
Launch is a critical time that can make the difference between product success and failure. Use this checklist to make sure nothing falls through the cracks.
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1:00 PM
Analyze recent user feedback on the beta version of the app and adjust user flow accordingly.
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3:00 PM
Present stakeholders with a product roadmap presentation for a user portal expected to launch the following quarter, highlighting progress, expected milestones, and potential roadblocks.
Product Roadmap Template
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4:30 PM
Meet with the UX team to review the banking app design prototypes and ensure alignment with user needs and product goals.
Design Sprint Template
Use design thinking to solve design problems and reduce production risks.
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What Product Managers DON’T Do: Comparing PMs to Project Managers, Program Managers, & more.
You may have noticed that PM can stand for more than Product Manager. While this is not the case at Product School —around here, PM stands for one thing and one thing only!—we acknowledge that in the rest of the world, there are other roles, many of which start with P, that get confused with Product Manager. Let’s set the record straight.
Program Manager vs. Product Manager
The difference between Product and Program Managers is that Product Manager duties revolve around, not surprisingly, Product, while Program Managers oversee a portfolio of projects or initiatives, ensuring they align with the organization's strategic objectives. The distinction lies in their focal points: Product Managers are centered on product-specific outcomes, innovation, and market fit, whereas Program Managers emphasize cross-project coordination, resource allocation, and achieving broad organizational goals that may or may not revolve around Product.
Project Manager vs. Product Manager
Product Managers and Project Managers play distinct but complementary roles within a company. While Product Managers are responsible for the vision and strategic direction of a product, focusing on market needs and user satisfaction, Project Managers are tasked with the logistical execution of specific projects, which may or may not be product-based. They focus on meeting deadlines, staying within budget, and managing resources. Their role is crucial in ensuring that the projects necessary to develop and launch a product are completed successfully and efficiently.
Product Owner vs. Product Manager
A Product Owner primarily works within a Scrum team. They focus on maximizing the value of the product by managing the product backlog. They define what needs to be built and prioritize tasks. Taken together, their tasks ensure the team delivers high-value features to the customers.
The official Scrum Guide does not recognize the role of a Product Manager. In Scrum, the primary roles are the Product Owner, Scrum Master, and Development Team. The role of the Product Owner is clearly defined — managing the product backlog and ensuring the team delivers value. The role of a Product Manager, in contrast to that of a Product Owner, is typically found in broader frameworks outside of Scrum. Product Management emerged as businesses recognized the need to oversee the entire lifecycle of a product. This included market research, strategic planning, development, launch, etc.
Business Analyst vs Product Manager
The difference between Business Analysts and PMs lies in which directions their facing: Inward or outward. Product Managers are the outward-facing strategists who monitor and react to the ever-changing dynamics of the market. Business Analysts, on the other hand, are the internal operatives focused on enhancing and refining the organization's internal processes. A Business Analyst primarily acts as a bridge between IT and business units, focusing on optimizing business solutions. They analyze business processes, identify needs, and propose solutions to improve efficiency and effectiveness.
A Business Analyst can transition to a Product Manager role. This typically involves leveraging overlapping skills, such as analytical thinking and communication, while also acquiring new skills, like strategic product planning and cross-functional leadership. Gaining practical experience in product management tasks and engaging in targeted training can facilitate this transition.
Product Management Best Practices: How to Be the Best PM You Can Be
Most of the product management you learn is by doing. The theory is very limited. And that’s why I think it’s very important to be part of the community, to listen and learn from others, listen to podcasts, and read books. — Rapha Cohen, CPO at Google's Waze, in The Product Podcast
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Rapha Cohen is right. The best way to break into Product is to just get in there! Read books on Product Management, watch webinars, and listen to podcasts. Most of these resources won’t cost you a dime. You can even attend ProductCon, the world's largest Product conference, for free!
Existing PMs have to do the same thing. There is no single textbook that explains Product Management. On the contrary, PMs learn by doing, and they love sharing what they learn with others. Product Managers level up by staying engaged with the latest thought leadership and applying it to their professional lives.
Over the course of the last decades, some lessons have been learned many times. So many times, in fact, that they have turned into precepts that you have to master if you’re going to call yourself a Product Manager. After all, why reinvent the wheel? If the Product Leaders who have gone before you feel so passionately about these ideas that they write books about them, and the people who read these books find them helpful, they are probably worth knowing about. Here’s a list to get you started:
Best Practices in Product Management
Influence Without Authority: We touched on this one briefly above. The idea here is to lead by example, build trust, and foster a collaborative environment. Use persuasion and relationship-building skills to motivate team members and stakeholders to work towards common goals.
Lean Startup: Focus on building a minimum viable product (MVP) to test assumptions and gather user feedback quickly. Iterate based on real-world data to minimize waste and accelerate learning.
User-Centric Design: Prioritize the needs, behaviors, and experiences of users throughout the product development process. Conduct user research, test usability, and continuously incorporate user feedback to create products that genuinely solve user problems.
OKRs (Objectives and Key Results): Set clear, measurable goals (Objectives) and define specific, quantifiable outcomes (Key Results) to track progress. Align OKRs across teams to ensure everyone is working towards the same strategic objectives and can measure success effectively.
Product-Led Growth: Use the product itself as the primary driver of customer acquisition, retention, and expansion. Focus on delivering a product experience that provides immediate value, encourages user engagement, and naturally leads to growth through word-of-mouth and network effects.
Agile Methodology: Adopt iterative and incremental development cycles, commonly known as sprints, to allow for flexibility and continuous improvement. Emphasize collaboration, adaptability, and responding to change over following a fixed plan, ensuring the product evolves based on real-time feedback and market conditions.
Never Underestimate the Product Manager's Function
A Product Manager is the driving force behind a product’s success, balancing the demands of business strategy, user experience, and technical execution. Whether orchestrating cross-functional teams, conducting market research, or guiding the product lifecycle from concept to launch, the PM’s influence is felt at every stage. So, when you think about what makes a product succeed, remember—never underestimate the function of a Product Manager. They’re not just managing a product; they’re shaping the future.
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Updated: November 13, 2024
