Launching a new product has been a mammoth task in my experience. It has taken me a lot of time and effort to research, plan, develop, market, and ultimately launch products. This is what being deeply involved in product management is all about for me - from the initial research and planning stages to ensuring that the product successfully reaches its target market.
However, stepping into this line of management as a product manager initially felt overwhelming because I found myself responsible for everything. If you're like me, new and eager to enter this field, aiming for the position of associate product manager is a wise first step! It's an entry-level role that will introduce to the nitty-gritty of product management. It's where I started, and with proper hands-on experience, I was able to move up to product management after earning my SAFe Agile Product Manager certification. So, let me share more about the role and associate product manager salary and what you can expect in this exciting journey.
Who is an Associate Product Manager?
An associate product manager is a person who works alongside product managers and helps throughout the product development lifecycle. Their primary responsibility is to indulge in market research, collect quantitative and actionable data, and analyze it to conclude. The findings of this research help product managers fine-tune their products to fit their target market’s requirements.
Associate Product Manager Salary in 2024
The average salary of an associate product manager is in the range of $1,00,000-$2,00,000. The exact amount they receive depends on several factors, like experience, location, skills, etc.
Associate Product Manager Salary: Based on Experience
An associate product manager's salary also depends on their years of experience.
Beginner/ Entry-level
A beginner is one with 0-2 years of experience. An entry-level/ assistant associate product manager's salary is around $78,406 annually.
Intermediate/ Mid-level
An intermediate associate product manager's pay is around $128,842 annually. It is someone with experience ranging from 2 to 4 years.
Advanced/ Senior
A senior associate PM's salary is approximately $2,01,846 annually. It is someone with over five years of experience.
Associate Product Manager Salary: Based on Location
The salary for associate product managers also depends on the location they work at. Here is a brief overview of how APM salaries vary across different cities and countries.
India
Here is a city-wise breakdown of the salary.
City | Salary (INR, annual) |
New Delhi | 10,50,000 |
Bengaluru | 13,00,000 |
Hyderabad | 7,00,000 |
Madras | 9,00,000 |
Mumbai | 8,50,000 |
Source: Glassdoor
Salaries in top companies in India.
Companies | Average Salary (INR, annual) |
Reliance Industries | 12,00,000 |
Tata Consultancy Services | 12,00,000 |
ICICI Bank | 13,50,000 |
Larsen & Toubro | 14,00,000 |
HCL Technologies | 17,60,000 |
Source: Glassdoor
US
Here is a city-wise breakdown of the salary.
City | Salary (USD, annual) |
New York | 88,049 |
Los Angeles | 98,039 |
Austin, Texas | 74,337 |
Seattle | 1,24,582 |
Boston | 81,478 |
Source: Glassdoor
Salaries in top companies in the US.
Companies | Average Salary (USD, annual) |
Amazon | 97,866 |
Walmart | 92,000 |
Verizon | 111,000 |
Apple | 147,000 |
Berkshire Hathaway | 117,000 |
Source: Glassdoor
UK
Here is a city-wise breakdown of the salary.
City | Salary (£, annual) |
Bristol | 60,531 |
Cardiff | 50,594 |
Manchester | 31,312 |
Leeds | 32,966 |
Birmingham | 49,735 |
Source: Glassdoor
Salaries in top companies in the UK:
Companies | Average Salary (£, annual) |
Unilever | 50,000 |
Lloyds Bank | 56,000 |
GlaxoSmithKline | 60,000 |
Shell | 67,000 |
Barclays | 49,000 |
Source: Glassdoor
Australia
City | Salary (A$, annual) |
Queensland | 60,531 |
Adelaide | 80,000 |
Gold Coast | 31,312 |
Melbourne | 90,000 |
Perth | 93,500 |
Salaries in top companies in Australia.
Companies | Average Salary (A$, annual) |
Wesfarmers | 83,000 |
Woolworths Group | 87,000 |
Atlassian | 106,000 |
Aristocrat | 103,000 |
Fortescue | 95,750 |
Source: Glassdoor
Canada
City | Salary (CA$, annual) |
Toronto | 80,593 |
Montreal | 73,719 |
Ottawa | 84,179 |
Victoria | 105,875 |
Vancouver | 77,342 |
Source: Glassdoor
Salaries in top companies in Canada.
Companies | Average Salary (CA$, annual) |
Scotiabank | 98,000 |
Bank of Canada | 124,300 |
Canadian Pacific | 126,000 |
Enbridge | 153,300 |
Google | 128,160 |
Source: Indeed
Singapore
City | Salary (SGD, annual) |
Jurong | 153,000 |
Yishun | 156,000 |
Bukit Batok | 153,000 |
Sengkang | 192,000 |
Woodlands | 153,000 |
Source: Glassdoor
Salaries in top companies in Singapore:
Companies | Average Salary (SGD, annual) |
Singtel | 156,000 |
Singapore Airlines | 93,000 |
Standard Chartered Bank | 104,000 |
Citi | 100,000 |
Medtronic | 104,000 |
Source: Glassdoor
Factors Affecting Associate Product Manager Salary
Associate product specialist salary depends on several factors, like location, industry, experience, demand & supply in the region, and additional skills/qualifications. This section will give you a detailed insight into each of them.
Location
The average salary drawn by an associate product manager also depends on their work location. As you must have seen above, the average APM salary in India is around INR 16,00,000 ( = USD 19,280) per annum. On the other hand, it is USD 95,824 per annum.
Moreover, this variation is also observed among different cities within a country. For instance, the average in Bengaluru is INR 13,00,000 (as mentioned above) and around INR 10,50,000 in New Delhi.
This variation stems from the different living costs and other similar factors in different regions.
Industry
An associate product manager’s salary may also depend on the industry in which they work. For instance, the salary of a healthcare product manager ranges from $94,000 to $125,292. On the other hand, a marketing product manager earns $118,331 on average per year.
Experience
An APM’s salary is also affected by their years of experience. Associate product manager salary for freshers is around $78,000, and for someone at a mid-level, it is around $100,000.
Demand and supply
A higher demand for associate product managers would increase their chances of negotiating a better salary. Consequently, industries or locations with high demand for APMs (healthcare, finance, etc., in countries like the USA, Canada, India, UK, etc.) offer more competitive salaries than others.
Credentials/certifications
Additional certifications or training programs like Agile certification training can significantly improve your salary. These credentials showcase your interest and commitment to product management.
Skills
Besides a relevant educational background, skills such as active listening, time and conflict management, and analytical skills like data literacy can improve one's chances of getting a higher-paying job.
How to Improve Associate Product Manager Salary?
The associate product manager's salary can be improved by investing time and resources to enhance skills, get certified, qualify for a related degree, and gain practical experience. Let’s see how.
Skills
Technical skills like programming language proficiency in SQL, Python, M, Java, Swift, etc., are important. You must also know how to use product management software and tools like Pendo, Amplitude, ProductPlan, SurveyMonkey, etc.
A major part of product management necessitates market research. This is why having strong analytical skills and working on them allows APMs to assess better ideas and offer newer solutions. This, in turn, will positively impact your salary, especially if you can find new trends and conduct successful research.
Moreover, goal-setting, time management, and planning skills can improve your track record throughout the product development life cycle.
Certifications
Being a certified associate product manager can improve your salary. Certificates are a testament to your practical skills and performance in real-life situations. This tells employers that you are serious about becoming an associate product manager.
Degrees
Students from technical and non-technical backgrounds can apply for an associate product manager position. However, having a Bachelor’s degree in B.Tech, B.Com, or any other field is necessary. While a post-graduate degree is not necessary, it can add value to your application.
Experience
The more experience you have, the better your associate product manager's salary will be. That said, even freshers can apply for entry-level positions if they have the relevant education and are keen to grow in this line of management.
Why are Associate Product Managers Paid So Much?
As you know, product management is an expansive process requiring numerous experts - a team of developers, marketers, and others to plan, develop, and launch a new product. This is where the vitality of a product manager stems from. They are the ones who oversee product development, set goals, delegate responsibilities, and keep a check on the entire team as well as the product throughout its development lifecycle. Needless to say, their salaries must also reflect their expertise and hard work.
Starting off as an associate product manager is an excellent way to kick off a career in product management. It introduces you to the process without the hassle of overseeing it. As an associate, you work with other product managers and help them with market research and data analysis, based on which the final products are honed. Clearly, it’s a very important part of the process; hence, even associate product managers are paid handsome salaries.
Conclusion
Product management is a very lucrative and vital field. The role of an associate product manager is a foundational role in project management. The key is to begin your journey the right way - by becoming an associate product manager. This starting position is designed for individuals passionate about building products that meet consumer needs and drive business goals.
However, you need to be a graduate and preferably have a master's degree and relevant certifications. KnowledgeHut’s SAFe agile product manager certification is a great place to start.
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