As experts in product management recruitment, we often get asked by our clients what a fair and competitive product management salary is. To do this accurately, our Principal Consultants would ask you:
- about the size of the business
- the business sector / industry
- the businesses’ growth objectives
- the size of the current digital team
- your budget
- what other benefits could be added to strengthen the overall package
- any niche domain experience that you require
By taking all the above into account, we would be able to guide you on what product management salary, package and benefit range is going to secure the right candidate for you – we will take care of the offer process and be on hand to help with any negotiations.
Product management salary expectation by role
As a rule of thumb, here is a guide to the current candidate’s salary expectations (as of early 2022).
|Job Role||Range: Min||Range: Max|
|Senior Product Manager||£70,000||£110,000|
|Head of Product||£95,000||£130,000|
|Product Director / VP Product||£100,000||£200,000|
|Chief Product Officer||£130,000||£300,000|
Product management salary and benefits package
4% is the standard in terms of employer contributions, so anything above 4% is a good additional benefit for employees.
Insurances (medical, dental, vision, life and income protection)
This is an area that potential employees really value, and these insurances are now commonplace within an offer package. These benefits are essential in securing candidates and highlights that the business cares about its employees and their wellbeing.
Performance related bonuses
Between Product Manager and Head of Product levels, bonuses that are based equally on individual performance and company performance are usual. For senior leadership roles, bonuses are usually based on company performance and meeting specific objectives.
Maternity / paternity enhanced leave
Start-up/scale-up businesses often do not offer this benefit, tending to be something for very large organisations only to consider. This could become a great point of difference for start-ups to use in a competitive market.
You should always take part in any government approved childcare schemes. It can really make a difference to your employee and help’s people return to work.
Wellness benefits (gym, nutrition etc)
Benefits like this are again more commonplace in today’s market, especially within the younger age groups. It often aligns with the values of the business, with a focus on employee wellbeing, and can really help in the battle to attract high quality talent.
This should always be considered for senior level roles where there is a talent pool across the globe. With the rise of flexible, hybrid and remote working, businesses may be reassessing whether relocation is still necessary and whether the role could be executed well remotely with occasional travel only.
There are many variables with stock options – we often give clients advice in this area that is bespoke to each business.
This product management salary guide was updated in March 2022.