Working as a New Product Manager

There is more than meets the eye when it comes to being a new product manager. For example, did you know that they make an average of $51.42 an hour? That's $106,958 a year!

Between 2018 and 2028, the career is expected to grow 8% and produce 21,800 job opportunities across the U.S.

What Does a New Product Manager Do

There are certain skills that many new product managers have in order to accomplish their responsibilities. By taking a look through resumes, we were able to narrow down the most common skills for a person in this position. We discovered that a lot of resumes listed analytical skills, math skills and creativity.

When it comes to the most important skills required to be a new product manager, we found that a lot of resumes listed 27.2% of new product managers included product development, while 11.2% of resumes included project management, and 8.4% of resumes included internet. Hard skills like these are helpful to have when it comes to performing essential job responsibilities.

When it comes to searching for a job, many search for a key term or phrase. Instead, it might be more helpful to search by industry, as you might be missing jobs that you never thought about in industries that you didn't even think offered positions related to the new product manager job title. But what industry to start with? Most new product managers actually find jobs in the technology and retail industries.

How To Become a New Product Manager

If you're interested in becoming a new product manager, one of the first things to consider is how much education you need. We've determined that 42.2% of new product managers have a bachelor's degree. In terms of higher education levels, we found that 37.0% of new product managers have master's degrees. Even though most new product managers have a college degree, it's possible to become one with only a high school degree or GED.

Choosing the right major is always an important step when researching how to become a new product manager. When we researched the most common majors for a new product manager, we found that they most commonly earn bachelor's degree degrees or master's degree degrees. Other degrees that we often see on new product manager resumes include associate degree degrees or high school diploma degrees.

You may find that experience in other jobs will help you become a new product manager. In fact, many new product manager jobs require experience in a role such as product manager. Meanwhile, many new product managers also have previous career experience in roles such as manager or project manager.

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Average Salary$106,958
Job Growth Rate8%

New Product Manager Jobs

New Product Manager Career Paths

Top Careers Before New Product Manager
Manager8.1 %
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Average Salary for a New Product Manager

New Product Managers in America make an average salary of $106,958 per year or $51 per hour. The top 10 percent makes over $140,000 per year, while the bottom 10 percent under $81,000 per year.
Average Salary
$106,958

Best Paying Cities

City
Average Salary

Recently Added Salaries

Job TitleCompanyCompanyStart DateSalary
Head of Product, Internal Digital Experiences-CTG New York
Head of Product, Internal Digital Experiences-CTG New York
Christie's
Christie's
03/06/2020
03/06/2020
$400,00003/06/2020
$400,000
New Product Manager
New Product Manager
Mpeople Animal Health & Nutrition
Mpeople Animal Health & Nutrition
12/31/2019
12/31/2019
$100,00012/31/2019
$100,000
New Products Program Manager
New Products Program Manager
Facebook, Inc.
Facebook, Inc.
06/04/2019
06/04/2019
$125,03306/04/2019
$125,033
Product Manager, New Product & Platform
Product Manager, New Product & Platform
Samsung Electronics America, Inc.
Samsung Electronics America, Inc.
06/03/2019
06/03/2019
$130,00006/03/2019
$130,000
New Product Execution Manager
New Product Execution Manager
Lexisnexis Risk Solutions, Inc.
Lexisnexis Risk Solutions, Inc.
03/03/2019
03/03/2019
$80,00003/03/2019
$80,000
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New Product Manager Demographics

Gender

Male

67.7 %

Female

28.8 %

Unknown

3.5 %
Ethnicity

White

61.3 %

Hispanic or Latino

14.4 %

Black or African American

10.5 %
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Foreign Languages Spoken

Spanish

36.0 %

Mandarin

12.0 %

Chinese

8.0 %
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New Product Manager Education

Schools

Rochester Institute of Technology

7.8 %

University of Texas at Austin

7.8 %

Pennsylvania State University

6.5 %

George Washington University

6.5 %
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Majors

Business

29.7 %

Marketing

10.6 %

Management

8.9 %

Electrical Engineering

6.1 %
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Degrees

Bachelors

42.2 %

Masters

37.0 %

Certificate

6.7 %

Associate

4.9 %
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Entry Level Jobs For Becoming A New Product Manager

Job type you want
Full Time
Part Time
Internship
Temporary

Top Skills For a New Product Manager

The skills section on your resume can be almost as important as the experience section, so you want it to be an accurate portrayal of what you can do. Luckily, we've found all of the skills you'll need so even if you don't have these skills yet, you know what you need to work on. Out of all the resumes we looked through, 27.2% of new product managers listed product development on their resume, but soft skills such as analytical skills and math skills are important as well.

Best States For a New Product Manager

Some places are better than others when it comes to starting a career as a new product manager. The best states for people in this position are California, Colorado, New York, and Virginia. New product managers make the most in California with an average salary of $124,939. Whereas in Colorado and New York, they would average $124,148 and $122,313, respectively. While new product managers would only make an average of $120,015 in Virginia, you would still make more there than in the rest of the country. We determined these as the best states based on job availability and pay. By finding the median salary, cost of living, and using the Bureau of Labor Statistics' Location Quotient, we narrowed down our list of states to these four.

1. Colorado

Total New Product Manager Jobs:
825
Highest 10% Earn:
$194,000
Location Quotient:
1.22
Location Quotient is a measure used by the Bureau of Labor Statistics (BLS) to determine how concentrated a certain industry is in a single state compared to the nation as a whole. You can read more about how BLS calculates location quotients here

2. New York

Total New Product Manager Jobs:
2,958
Highest 10% Earn:
$200,000
Location Quotient:
1.95
Location Quotient is a measure used by the Bureau of Labor Statistics (BLS) to determine how concentrated a certain industry is in a single state compared to the nation as a whole. You can read more about how BLS calculates location quotients here

3. Washington

Total New Product Manager Jobs:
1,825
Highest 10% Earn:
$166,000
Location Quotient:
2.16
Location Quotient is a measure used by the Bureau of Labor Statistics (BLS) to determine how concentrated a certain industry is in a single state compared to the nation as a whole. You can read more about how BLS calculates location quotients here
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Top New Product Manager Employers

1. Cisco Systems
4.9
Avg. Salary: 
$113,155
New Product Managers Hired: 
25+
2. Motorola Solutions
4.7
Avg. Salary: 
$86,809
New Product Managers Hired: 
17+
3. IBM
4.7
Avg. Salary: 
$84,673
New Product Managers Hired: 
13+
4. HP
4.8
Avg. Salary: 
$88,383
New Product Managers Hired: 
11+
5. Apple
4.9
Avg. Salary: 
$103,599
New Product Managers Hired: 
8+
6. Intel
4.8
Avg. Salary: 
$92,479
New Product Managers Hired: 
8+

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Updated October 2, 2020