Product leads are responsible for the development of new products within a particular company. They are key members of cross-functional product development teams that typically include engineers, researchers, technologists, and representatives of marketing, finance, and manufacturing departments. The product lead liaises with different members of the development team to drive projects forward.
The three broad areas that a product lead is responsible for are owning the product direction, building the team, and establishing the product organization and processes. From product vision and strategy to the product roadmap, they devise it all along with a goal. They are also responsible for hiring personnel that will work on the particular product. And finally, they will coordinate with various departments to ensure that deadlines are met, and the final product is profitable for the company. Educational requirements include a bachelor's degree in business administration or marketing; however, an associate's degree may suffice as well, along with relevant proven work experience.
The benefits that you'll receive by qualifying as a product lead are immense. The average hourly wage rate for a traditional workweek is $56.76, which equates to $118,055 annually. The career is expected to grow 8% in the following years, resulting in various job opportunities being created across the United States.
There is more than meets the eye when it comes to being a product lead. For example, did you know that they make an average of $52.95 an hour? That's $110,146 a year!
Between 2018 and 2028, the career is expected to grow 8% and produce 21,800 job opportunities across the U.S.
There are certain skills that many product leads 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, communication skills and creativity.
When it comes to the most important skills required to be a product lead, we found that a lot of resumes listed 8.8% of product leads included product management, while 6.5% of resumes included project management, and 4.9% of resumes included architecture. 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 product lead job title. But what industry to start with? Most product leads actually find jobs in the technology and manufacturing industries.
If you're interested in becoming a product lead, one of the first things to consider is how much education you need. We've determined that 62.0% of product leads have a bachelor's degree. In terms of higher education levels, we found that 17.9% of product leads have master's degrees. Even though most product leads 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 product lead. When we researched the most common majors for a product lead, we found that they most commonly earn bachelor's degree degrees or master's degree degrees. Other degrees that we often see on product lead resumes include associate degree degrees or high school diploma degrees.
You may find that experience in other jobs will help you become a product lead. In fact, many product lead jobs require experience in a role such as product manager. Meanwhile, many product leads also have previous career experience in roles such as software engineer or project manager.