Product Management: Is Product Management a lucrative career option?

Wearing many hats in a workplace, these multi-faceted professionals known as “Product Managers” are in high demand in business communities around the world. But will product management continue to be on the rise in the future? The latest statistics and information give a direct answer to this question.

What do successful CEOs like Jeff Bezos (Amazon), Marissa Mayer (Yahoo), Susan Wojcicki (Youtube), and Sundar Pichai (Google) have in common? They were all product managers at some stage in their professional career. According to a leading publication, product managers can be useful for senior management careers. A field that welcomes innovative individuals from all walks of life, product management involves paying attention to customer needs, defining the product lifecycle, and leading the product team to invent user-friendly products.

It is safe to say that product enthusiasts should definitely pursue a career in this burgeoning field, as product management will continue to fascinate the business world, spanning geographic and calendar distances at high speed. But to emerge as product leaders, individuals must first excel as learners by taking online product management courses.

Among many other training programs available today, IIM Indore’s 6-month online PG Certificate program in Product Management in conjunction with Jigsaw (A UNext Company), is the only program that conforms to the 5i framework and features a one-of-a-kind development experience to its learners. Offering Product Management Certification upon successful completion of the program, it also provides Executive Alumni status of IIM Indore to interested candidates. The robust product management course is further supported by post-course exercises, Harvard Business Review (HBR) case studies, and the practical Bring Your Own Product (BYOP) feature.

State of Product Stewardship in 2022

With over 20,000 jobs available on LinkedIn alone, the product management field is in high demand in India and abroad. According to Jobted, the average product manager salary is about 246% higher than the national average salary in India. Knowing that there are not many highly qualified professionals available in the market, companies do not hesitate to pay high salaries to product managers. Why would they care if investing in the right professionals would open the doors to increased company profits?

Naukri.com
1 reveals that while product management is among the most popular industries and is expected to have 22 million job vacancies globally, India today has only 20,000 product managers. This could be one of the important factors in the lucrative salary packages offered to these multi-faceted individuals.

Jigsaw’s online product management program designed, delivered and certified by IIM Indore aims to enable participants to walk through the complete product lifecycle and help them master the different phases of product management. Additionally, this holistic program offers a unique curriculum based on the 5i framework, with Harvard business case studies and BYOP capability for a “do and learn” experience, making it an ideal choice for product managers in new generation. Learners in the last 6 batches of this limited-enrollment program agree that the 5i framework-based pedagogy and “Bring Your Own Product” feature helped them analyze the latest industry trends, while helping them work through examples in real time. to solidify product development concepts. For product management enthusiasts and professionals seeking a better career trajectory or those looking to transition into product management roles, the future is full of rewarding promise.

What is the future of product management?

Counted among LinkedIn
2 25 in-demand jobs in the United States in 2022, Product Managers and Project Managers will continue to increase globally in the future. The product management market is expected to reach $31.84 billion by 2025. So, for aspiring and existing product managers planning to advance in the field, the future is as bright as the sun, if not more shiny. All they need is proper training and mentoring.

Source:

1. https://www.naukri.com/blog/product-manager-salary-in-india/#:~:text=Product%20management%20is%20one%20of,
simple%2020%2C000%20product%20managers%20today

2. https://www.linkedin.com/pulse/linkedin-jobs-rise-2022-25-us-roles-growing-demand-linkedin-news/?trackingId=1ObRq9xbQV%2Bx3nvD598TYQ%3D%3D