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Key takeaways

• Product managers are professionals who focus on the vision of a product or service.

• They set the strategy and roadmap for the product, working cross-functionally to define and execute its success.

• This role often needs a strong understanding of business, technology, and user experience (UX) design.

Learn more about what product managers do and how to become one. Afterward, if you're interested in developing your skills in this area, consider enrolling in the IBM Product Manager Professional Certificate, where you'll develop a working knowledge of Agile and adaptive methodologies used to expedite product solutions to market.

What is a product manager?

A product manager is a professional who defines a product's strategy, roadmap, features, and success. They help set goals and motivate a team of engineers, designers, marketers, and researchers, with the primary concern of ensuring that a product launches and continues to do well in the market.

Product managers use a combination of market research, data analysis, and strategic thinking to define product vision, prioritize features, and make critical decisions throughout the product life cycle. Essentially, they are the advocates for the product, balancing stakeholder interests while driving innovation and growth.

Product manager earning potential

According to Glassdoor, the average annual total pay for a product manager in the US is $103,240 []. Many factors can impact this amount, including your location, industry, education level, and years of experience. As you build your abilities in product management, there are many ways to advance along this career path.

What does a product manager do?

Product managers stay on top of business trends and consumer behaviors that directly or indirectly affect the product or company. Day-to-day responsibilities may include:

• Analyzing, understanding, and representing user needs

• Monitoring the market landscape to conduct market research and develop a competitive analysis

• Defining the vision and strategy for a product, such as a multi-year roadmap of its development, packaging, launch, and expansion

• Coordinating and communicating about the product's vision with management, product teams, and other stakeholders

• Gathering and conducting research and feedback (QA) on the product

• Guiding teams through the different stages of the product life cycle

Product manager vs. project manager

Many people confuse product and project managers. Although they sound similar and have some overlapping responsibilities and business goals, they are essentially two different jobs.

A product manager focuses on the product vision for a product or service, while a project manager ensures that the vision is executed on time and within budget.

Read more: Product Manager vs. Project Manager: What鈥檚 the Difference?

Product manager tools for success

There are several different tools that product managers work with. Some key tool categories that product managers may need to know include:

• User research

• Analytics

• Customer feedback

• Brainstorming and ideation

• Roadmapping

• Project and task management

• Design and prototyping

• Collaboration and communication

• Data analysis

How to become a product manager

Product managers are problem solvers and strategic thinkers who come from varied educational backgrounds and professional experiences.

1. Get a bachelor's degree.

According to Zippia, over 72 percent of product managers hold a bachelor's degree []. Given the specialized knowledge this role requires, employers typically look for at least a higher level of education. Popular majors for this line of work include business, marketing, finance, or a related field.

2. Build your skills.

Successful product managers are keenly aware of trends in the market and instinctively know what would make a product or service better or better suited for a particular user group. If you're interested in becoming a product manager, set yourself up for success by developing these key skills:

• Communication skills: Collaborate with company stakeholders, cross-functional partners, and your team members.

• Strategic thinking: Prioritize and implement ideas that can best affect the company or brand.

• Leadership skills: Support individuals and teams to perform at their highest levels.

• Technical skills: Understand what goes into designing a product or service.

• User empathy: Identify and evaluate challenges users may encounter with the product.

• Project management: Ensure marketing, design, engineers, and other stakeholders are aligned on the product's vision and can carry out that vision in a timely, organized manner.

3. Earn a certification.

While certification is not necessary, you may find that certificate programs give you the leverage you need to land a competitive job as a product manager. You'll have a structured learning path that enables you to gain all the essential skills, receive guidance from product managers in the field, build a portfolio of projects, and earn a certification from a credible institution.

Read more: What Is a Certified Product Manager (and How Do I Become One)?

4. Apply for jobs.

If you're just starting out in this field, consider entry-level roles that will expose you to the key facets of working with a product and that will hone your organizational skills. Roles like junior project manager or business analyst can be good entry points.

Many future product managers are currently working in finance, marketing, content strategy, UX design, or project management. As you seek a relevant role that aligns with your experience level, it's essential to highlight transferable skills in your resume, cover letter, and during interviews. Review different job postings and take note of the skills and tools you'll need so you can add them to your materials鈥攐r strengthen your abilities in these areas.

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