As a competent product management professional who delivers results, you want to earn what you deserve. To successfully get your fair share, the first step is deciding to ask.
This article equips you with what to ask for in product management salary negotiations, and guidance on how to compare your contribution / situation to others. Included are 15+ data sources on Irish and international product management compensation packages.
Salary Range For Product Management Professionals in Ireland
- €44,000 – €180,000 – Total Range
- Lower End of Range – Typical Job Title: ‘Product Manager’ (but you often see ‘Junior Product Manager’ in larger organizations)
- Higher End of The Range – Typical Job Titles: ‘Product Director’ or ‘Head of Product Management’
Jump to the: List Of Data Sources For Product Management Salaries
Average Salaries for Product Managers in Ireland
– Jump to the: List Of Data Sources For Product Management Salaries
- €60,000 Source: Indeed Ireland, and Morgan McKinsey, Ireland
- €63,556 Source: Glass Door Dublin
- €72,000 Source: Pragmatic Marketing (currency conversion March, 2018)
Averages are prone to very high and very low outliers skewing the average. Therefore a range is sometimes more useful to give a sense of the high and low end.
Considerations For Comparing Your Product Management Salary
As with product feature comparison in competitive analysis, when comparing your current salary to others in product management it’s necessary to ensure you are comparing like with like. It’s also helpful to identify gaps;
- What does your organization need?
- What skills might you need to develop?
- What features might your benefit package be missing?
Comparative considerations for salary in product management roles include:
Different industry sectors command different salaries. Financial services professionals are typically at the top of the range. Whatever industry you are in, compare your product management role to others within your industry.
Few product management roles require domain expertise. Exceptions include roles in the pharma industry. An informal discussion of senior product leaders concluded that ~80% of roles have no requirement for domain expertise. (The same group of product leaders felt that it’s much harder to teach soft skills, such as customer empathy, than for new hires to gain domain expertise).
Dublin is typically better paid (and more expensive to live in) than the rest of the country. (BrightWater has the best information on Dublin versus ‘the rest’.) The flip side of this is: you may be a ‘rare and precious commodity’ in your locale. As a product manager you already understand the need to consider income and the expenditure together for overall profitability.
Organizational size heavily influences the product management role.
An established multinational corporation, with mature processes, offers you a different experience compared to a high grow export-led SME, focused on learning about new markets / needs, to a bootstrapped startup, where you’ll be front and central, and often alone.
Smaller organizations often have product management as one responsibility within a broader role. Other responsibilities include; user experience, project management, product marketing, market research, technical writing, channel management/sales, marketing communications, graphic design and QA/testing. Some knowledge of these aspects is valuable to everyone in product management.
In larger organizations these functions are often adjacent teams. In medium-sized organization external consultants / agencies are often engaged. The smaller the organization the further down the list your responsibilities extend.
- A broad set of skills is more valuable to smaller organizations.
- Depth / specialisation is more valuable in larger organizations.
Organizational culture leads to an appreciation of some skills over others. Engineering-led companies understand the value and contribution of engineering: ‘the best technology will win in the market place’. Sales-led may mean ‘the prospect who might buy tomorrow is always right’. Customer / market-centric organizations lean towards valuing the contribution of those who understand the understand customers (such as Dyson, Atlassian, APC Corporation). Great organizations balance these competing factors well.
Responsibility and Skills
As the two examples below show even product management roles with the identical title may have a great variety in responsibilities.
The skills, knowledge and connections, you bring to the table are key to your product management salary. While often expressed in years of experience and formal qualifications, your past achievements and projects are particularly insightful to demonstrate product management competencies including emotional intelligence
Senior Product Management
More senior people will be involved with deciding strategy, based on understanding market and innovation opportunities, and scoping where to expend resources for financial return. They have oversight of the entire product life-cycle and product portfolio, and need the ability to work across the entire organization, as well as lead a core team of product managers.
More revenue and greater geographic reach means you have greater responsibilities, and therefore a greater contribution to the business. Unlike operations roles product management teams are typically not large. (‘Head of operations’ salary differential is €20k-€30k for those above / below 100 staff, Brightwater house, 2017). Due to the great variety in product complexity and maturity, product management is often expresssed as ratio to the rest of the rest of product development. Examples include:
- 10-15 : 1 for software development
- 6 : 1 for hardware development
- 7 ± 2 engineers : 1 product manager.
There isn’t sufficient information available to figure out how much money we’re talking about here. For more senior roles the appropriate benchmark may be your peers rather who sit with you at the management table, rather than other product management professionals.
Example 1 Head of Product Management Dublin
Example 2 Head of Product Management Dublin
Product Management – Typically An Individual Contributor
Less senior people spend more time ‘hands on’ with project or product specific prioritization, representing and implementing the ‘voice of the customer‘ before, during or after product development. (Backlog administrator roles are excluded here.)
Example – Product Manager
Overall development, positioning and messaging/communication of global solution for software product development. Understand customer needs, scope and drive roadmap, execute product management development tasks
- 5-10 Years Product Management experience within IT
- Experience in / with software for business
- Bachelor’s or a master’s degree, preferably in ICT
Macro Economic Environment
Finally the backdrop against which you were originally hired plays a significant role in many people’s salary. Do your best to ensure that your basic salary (and that of your teams) are regularly benchmarked against the current local market.
List Of Data Sources For Product Management Salaries
These varied sources all include product management roles.
International Product Management Salary Data Sources
These include Ireland, sometimes as an individual geography, as well as giving more specific indications on what factors increase or decrease average salaries.
- Product Focus Salary Survey 2018
- Product Management Festival Benchmarks Report 2017
- Pragmatic Marketing Annual Product Management Survey
- Pragmatic Marketing Survey 2017
- Mind The Product Product Management 2016
Irish Product Management Salary Data Sources
Sourced directly from product management professionals in Ireland this data covers provessional who may be a number of years at their current organization/role. In some cases the sample size is small so consider how many respondents are shown: lower numbers may be less robust.
- PayScale Product Manager Ireland
- Neuvoo Product Manager Salary Ireland
- PayScale Senior Product Manager Ireland
- Glass Door Senior Product Manager Ireland
- Glass Door Product Manager Dublin
Irish Salary Surveys With Data On Product Management Roles
Data from recruitment agencies reflect the market for roles filled in the year quoted. In some cases product management roles are found under marketing, in others under IT or research.
Data from online job aggregators provide a range and and average.
- Indeed dot Com Product Manager Ireland
- Indeed Product Manager Belfast
- CPL Salary Survey Ireland 2017
- CPL Salary Survey Ireland 2018
- Alternatives with Marketing Institute of Ireland 2017
- Morgan McKinsey Salary Ireland 2018
- Morgan McKinsey IT Salary Ireland 2015
- BrightWater Salary 2017