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Senior product manager hiring summary. Here are some key points about hiring senior product managers in the United States:
Here's a step-by-step senior product manager hiring guide:
A senior product manager oversees the workflow and workforce involved in product and service development, ensuring a high return for its investments. They are primarily responsible for assessing and providing recommendations, producing review and reference documents, and obtaining feedback from consumers and high-ranking company personnel. Furthermore, as a senior product manager, they must lead a group of product managers, motivating and supervising them in their joint effort to accomplish goals according to the company's standards and policies.
Before you post your senior product manager job, you should take the time to determine what type of worker your business needs. While certain jobs definitely require a full-time employee, it's sometimes better to find a senior product manager for hire on a part-time basis or as a contractor.
A senior product manager's background is also an important factor in determining whether they'll be a good fit for the position. For example, senior product managers from different industries or fields will have radically different experiences and will bring different viewpoints to the role. You also need to consider the candidate's previous level of experience to make sure they'll be comfortable with the job's level of seniority.
This list shows salaries for various types of senior product managers.
| Type of Senior Product Manager | Description | Hourly rate |
|---|---|---|
| Senior Product Manager | Advertising, promotions, and marketing managers plan programs to generate interest in products or services. They work with art directors, sales agents, and financial staff members. | $47-87 |
| Director Of Product Development | A Director of Product Development supervises and implements product development policies, initiatives, and objectives. They conduct market research to determine consumer needs and identify competitors. | $48-94 |
| Product Developer | A product developer is responsible for creating the designs of an industrial product based on the client's specifications and budget requirements. Product developers work closely with the whole design team to strategize and execute plans within the agreed timeframe... Show more | $30-59 |
Including a salary range in the senior product manager job description is a good way to get more applicants. A senior product manager salary can be affected by several factors, such as the location of the job, the level of experience, education, certifications, and the employer's prestige.
For example, the average salary for a senior product manager in Hawaii may be lower than in California, and an entry-level engineer typically earns less than a senior-level senior product manager. Additionally, a senior product manager with lots of experience in the field may command a higher salary as a result.
| Rank | State | Avg. salary | Hourly rate |
|---|---|---|---|
| 1 | California | $153,490 | $74 |
| 2 | Washington | $142,245 | $68 |
| 3 | Oregon | $137,018 | $66 |
| 4 | New York | $129,230 | $62 |
| 5 | Massachusetts | $128,638 | $62 |
| 6 | New Jersey | $128,231 | $62 |
| 7 | Pennsylvania | $123,198 | $59 |
| 8 | Virginia | $123,006 | $59 |
| 9 | Arizona | $121,105 | $58 |
| 10 | Utah | $117,956 | $57 |
| 11 | District of Columbia | $117,844 | $57 |
| 12 | North Carolina | $115,896 | $56 |
| 13 | Texas | $115,888 | $56 |
| 14 | Illinois | $113,890 | $55 |
| 15 | Connecticut | $112,169 | $54 |
| 16 | Maine | $110,889 | $53 |
| 17 | Georgia | $110,681 | $53 |
| 18 | Ohio | $109,422 | $53 |
| 19 | Florida | $109,007 | $52 |
| 20 | Indiana | $108,292 | $52 |
| Rank | Company | Average salary | Hourly rate | Job openings |
|---|---|---|---|---|
| 1 | Roku | $194,651 | $93.58 | 16 |
| 2 | Credit Karma | $193,961 | $93.25 | 4 |
| 3 | The Citadel | $191,139 | $91.89 | |
| 4 | ICE Mortgage Technology | $187,646 | $90.21 | |
| 5 | Netflix | $184,383 | $88.65 | 54 |
| 6 | $184,277 | $88.59 | 259 | |
| 7 | Brex | $184,206 | $88.56 | 3 |
| 8 | ByteDance | $184,126 | $88.52 | |
| 9 | Crunchbase | $183,452 | $88.20 | |
| 10 | Flexport | $183,387 | $88.17 | 1 |
| 11 | Yelp | $182,901 | $87.93 | |
| 12 | Baker McKenzie | $182,176 | $87.58 | |
| 13 | Okta | $182,056 | $87.53 | 29 |
| 14 | LendUp | $181,304 | $87.17 | |
| 15 | Squarespace | $179,817 | $86.45 | 1 |
| 16 | Zenefits | $177,786 | $85.47 | |
| 17 | Pure Storage | $177,426 | $85.30 | 18 |
| 18 | Coursera | $177,238 | $85.21 | |
| 19 | StubHub | $176,181 | $84.70 | 13 |
| 20 | Anaplan | $176,172 | $84.70 | 4 |
A job description for a senior product manager role includes a summary of the job's main responsibilities, required skills, and preferred background experience. Including a salary range can also go a long way in attracting more candidates to apply, and showing the first name of the hiring manager can also make applicants more comfortable. As an example, here's a senior product manager job description:
To find senior product managers for your business, try out a few different recruiting strategies:
Your first interview with senior product manager candidates should focus on their interest in the role and background experience. As the hiring process goes on, you can learn more about how they'd fit into the company culture in later rounds of interviews.
Remember to include a few questions that allow candidates to expand on their strengths in their own words. Asking about their unique skills might reveal things you'd miss otherwise. At this point, good candidates can move on to the technical interview.
The right interview questions can help you assess a candidate's hard skills, behavioral intelligence, and soft skills.
Once you have selected a candidate for the senior product manager position, it is time to create an offer letter. In addition to salary, the offer letter should include details about benefits and perks that are available to the employee. Ensuring your offer is competitive is vital, as qualified candidates may be considering other job opportunities. The candidate may wish to negotiate the terms of the offer, and it is important to be open to discussion and reach a mutually beneficial agreement. After the offer has been accepted, it is a good idea to formalize the agreement with a contract.
It's also important to follow up with applicants who do not get the job with an email letting them know that the position is filled.
Once that's done, you can draft an onboarding schedule for the new senior product manager. Human Resources should complete Employee Action Forms and ensure that onboarding paperwork is completed, including I-9s, benefits enrollment, federal and state tax forms, etc. They should also ensure that new employee files are created for internal recordkeeping.
Before you start to hire senior product managers, it pays to consider both the one-off costs like recruitment, job promotion, and onboarding, as well as the ongoing costs of an employee's salary and benefits. While most companies that hire senior product managers pay close attention to the initial cost of hiring, ongoing costs are much more significant in the long run.
The median annual salary for senior product managers is $133,868 in the US. However, the cost of senior product manager hiring can vary a lot depending on location. Additionally, hiring a senior product manager for contract work or on a per-project basis typically costs between $47 and $87 an hour.