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What is a New Product Manager

Getting a new product off the ground isn't easy. But, as a new product manager, you'll be the one to make this happen. In this role, you'll be in charge of developing products by conducting market research and then combining those findings with general requirements to come up with specifications, timetables, and plans to complete the development of new products.

To launch new products, you'll be expected to effectively gather and prioritize requirements. To succeed in this role, you'll need to have great instincts for identifying potential products. You should also excel in defining product vision and collaborating with engineering staff to deliver winning results.

Some other tasks you'll be expected to perform in this role include defining the product strategy and roadmap, run beta and pilot programs with early-stage samples, and performing product demos for customers.

Product managers should be good communicators with excellent technical expertise and marketing skills. Although product managers may come from various backgrounds, candidates entering this field will typically have a bachelor's degree in business or a related field.

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 $54.42 an hour? That's $113,193 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 Detail oriented, Math skills and Analytical skills.

Learn more about what a New Product Manager does

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 69.8% of New Product Managers have a bachelor's degree. In terms of higher education levels, we found that 17.2% 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 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.

What is the right job for my career path?

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And if you’re looking for a job, here are the five top employers hiring now:

  1. Meta Jobs (5)
  2. Apple Jobs (8)
  3. Intel Jobs (8)
  4. HP Jobs (6)
  5. Cisco Systems Jobs (25)
Average Salary
$113,193
Average Salary
Job Growth Rate
8%
Job Growth Rate
Job Openings
145,536
Job Openings
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New Product Manager Career Paths

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Average Salary for a New Product Manager

New Product Managers in America make an average salary of $113,193 per year or $54 per hour. The top 10 percent makes over $167,000 per year, while the bottom 10 percent under $76,000 per year.
Average Salary
$113,193
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How much should you be earning as an New Product Manager? Use Zippia's Salary Calculator to get an estimation of how much you should be earning.
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New Product Manager Demographics

New Product Manager Gender Distribution

Male
Male
70%
Female
Female
30%

After extensive research and analysis, Zippia's data science team found that:

  • Among New Product Managers, 29.8% of them are women, while 70.2% are men.

  • The most common race/ethnicity among New Product Managers is White, which makes up 71.4% of all New Product Managers.

  • The most common foreign language among New Product Managers is Spanish at 36.0%.

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New Product Manager Education

New Product Manager Majors

28.5 %

New Product Manager Degrees

Bachelors

69.8 %

Masters

17.2 %

Associate

6.6 %

Top Colleges for New Product Managers

1. University of Georgia

Athens, GA • Private

In-State Tuition
$11,830
Enrollment
29,474

2. University of Wisconsin - Madison

Madison, WI • Private

In-State Tuition
$10,555
Enrollment
30,360

3. University of Minnesota - Twin Cities

Minneapolis, MN • Private

In-State Tuition
$14,760
Enrollment
31,451

4. Purdue University

West Lafayette, IN • Private

In-State Tuition
$9,992
Enrollment
33,495

5. Howard University

Washington, DC • Private

In-State Tuition
$26,756
Enrollment
6,166

6. Ohio State University

Columbus, OH • Private

In-State Tuition
$10,726
Enrollment
45,769

7. University of Texas at Austin

Austin, TX • Private

In-State Tuition
$10,610
Enrollment
40,329

8. University of Southern California

Los Angeles, CA • Private

In-State Tuition
$56,225
Enrollment
19,548

9. University of Pennsylvania

Philadelphia, PA • Private

In-State Tuition
$55,584
Enrollment
10,764

10. SUNY at Binghamton

Vestal, NY • Private

In-State Tuition
$9,808
Enrollment
13,990
Job Openings

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New Product Development - develop your own new product
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New product development is essential for the survival of many companies in the Hi-Tec sector, as well as other sectors. The percentage of sales of successful business organizations tied to the successful Introduction of new products and services is high. However, the failure rate of new products development projects is also high and therefore there is a need for a methodology based on a well-designed process as well as tools and techniques to manage New Product Development (NPD) projects. Since...

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This course is the first in the Customer Insights and New Product Development (CIPD) specialization. It will introduce learners to the tools and process of gathering customer insights for identifying and developing new product opportunities. Through an integrated set of five modules and hands-on project experiences, learners will acquire the knowledge and skills to turn their ideas gained from understanding customer needs into innovative new products...

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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, 12.4% of New Product Managers listed Market Research on their resume, but soft skills such as Detail oriented 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 Oregon, California, Connecticut, and New Jersey. New Product Managers make the most in Oregon with an average salary of $134,361. Whereas in California and Connecticut, they would average $127,208 and $119,586, respectively. While New Product Managers would only make an average of $114,439 in New Jersey, 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. Oregon

Total New Product Manager Jobs:
1,164
Highest 10% Earn:
$186,000
Location Quotient:
1.5
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. California

Total New Product Manager Jobs:
8,790
Highest 10% Earn:
$186,000
Location Quotient:
1.61
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. Minnesota

Total New Product Manager Jobs:
1,408
Highest 10% Earn:
$158,000
Location Quotient:
1.13
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
Full List Of Best States For New Product Managers

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Top New Product Manager Employers

Most Common Employers For New Product Manager

RankCompanyZippia ScoreAverage New Product Manager SalaryAverage Salary
1$180,610
2$141,185
3$138,115
4$127,696
5$121,056
6$120,601

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