How Much Do Product Marketing Managers Make?

How much do product marketing managers make? How do you become this manager? If you are eyeing this position, then this article is for you. So, read on,

How Much Do Product Marketing Managers Make?

A product marketing manager is someone that has many responsibilities. That is why this person enjoys compensation that is commensurate with the hard work and effort he or she puts in. According to the United States Bureau of Labor Statistics, product marketing managers earned an average of $110,000 per year.

The highest-paid product marketing managers earned more than $180,000 per year. Then, the median salary is $99,300.

Product marketing managers earn a good amount of money because their skill set is not easy to find on the open market. They are professionals that are responsible for developing strategies for their company’s products. 

What, then, are some of their responsibilities?

What Do Product Marketing Managers Do?

As said, they are professionals that are responsible for developing strategies for their company’s products. They do this by conducting research and analyzing the company’s competition. They prepare reports and make presentations about their products and services that are useful for executives and other management members within their companies. 

Then, the managers also prepare budgets for advertising campaigns that help bring in new customers to their business. But this person is not only responsible for preparing budgets. But also monitoring those budgets to ensure they are being spent wisely and effectively.

Further, they also review sales reports and compare them with the budgeted figures. So they can make adjustments as needed to assure the company’s profitability is not compromised at any time during the fiscal year. 

In addition, they must help develop new ideas and products, as well as keep track of consumer trends and needs. So they can create a better end product that will be more appealing to end-users.

How Do You Become a Product Marketing Manager?

To become a product marketing manager, you must have a bachelor of science degree in business administration. Or a related field from an accredited college or university. You should have at least three years of work experience in this field before you can expect to advance into this position within your chosen organization.

Further, an advanced degree in business administration may give you an edge over other candidates when applying for this position with some employers. But it is not necessary if you already have several years’ experience in this field.

Aside from that, you need the key skills of a manager. This means, you need to know how to lead and how manage people. You need to know how to delegate tasks, as well as encourage your team members. 

You should have excellent communication skills, as well. Then, you must be able to present well in front of large groups of people. And you must be able to work with your superiors and colleagues in a very effective manner.

Conclusion

So, if you are interested in becoming a product marketing manager, then you should consider your options. Many colleges and universities offer bachelor of science degrees in business administration.