What is the Average SaaS Product Manager Salary?
Looking to know the average salary of a SaaS product manager in the United States, Canada, and abroad?
There’s no denying that we’re amidst a digital and technological age. This means that in today’s digital landscape, it’s no surprise to learn that any skills in software and tech development are sought-after by modern employers.
For the longest time, software engineering and design were amongst the highest-paying jobs in Silicon Valley. But since 2016, software product management has become the highest-grossing job in the industry.
Whether we’re discussing a major corporation like Google or much smaller companies, today’s brands are shifting their focus from analog to digital. Job positions such as software product management are here to stay.
So when we consider both the demand and the pay grade, a career as a SaaS product manager is a worthy endeavor.
But how much do SaaS product managers make? Is additional cash compensation sometimes available? Does location affect the salary of a SaaS product manager?
Let’s dive in and look at how much a SaaS product manager earns. Please note that all of the salary information we collect stems from Zippia data as of April 2024.
Average SaaS Product Manager Salary
On average, a SaaS product manager in the United States has a median salary of just over $135,000 per year. We break this figure down even further and say that, on average, a SaaS product manager earns $65 per hour.
On the other hand, not all software product manager roles are equal.
For instance, an entry-level software product manager’s salary is much lower at an average of $98,000 per year or the equivalent of $47 per hour.
Whereas, when we get into the 75th percentile, the average salary for a software product manager is closer to $159,000, $13,250 per month, or a wage of $76 per hour.
Furthermore, the 90th percentile of software product managers earns rather impressive salaries of as much as $200,000 per year (including bonuses and other benefits).
The total average compensation for SaaS product managers in the 90th percentile is $185,000 per year. This staggering figure works out to a monthly payment of $15,417 or a wage of $89 per hour.
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Location-Based Salary Info for SaaS Product Managers
Depending on location, the average salary for a SaaS product manager varies.
To help give you a better idea of what SaaS product managers earn, let’s take a deeper look into some location-based salary information from around the world.
1. SaaS Product Manager Salaries in Canada
Although Canada isn’t known as a hub for software development, there’s no denying that a great deal of technology comes from there. For SaaS product managers living and working in Canada, the average product manager salary is CAD 88,000 per year or CAD 42 per hour.
On the lower end of this average, Canadian SaaS product managers earn CAD 60,000 per year, and on the upper end, salaries are closer to CAD 129,000.
2. SaaS Product Manager Salaries in the United Kingdom
When we make our way into the United Kingdom, entry-level positions for SaaS product managers start at £46,154 per year. Whereas more experienced UK product managers earn up to £70,000 per year.
Put another way, this means that most SaaS product managers in the UK, on average, earn £55,000 per year or £28.21 per hour.
3. SaaS Product Manager Salaries in China
In China, a product manager working for a software company earns an average salary of ¥10,400,000 per year or ¥200,000 per week. And although that sounds like a millionaire’s salary, these figures equate to a mere USD 82,500 per year.
4. SaaS Product Manager Salaries in Germany
In Germany and other continental European countries, the average salary for a SaaS product manager is €66,000 per year. This is the equivalent of a salary of USD 71,400.
5. SaaS Product Manager Salaries in India
In India, the average salary for SaaS product managers is somewhere ₹2,800,000 or the equivalent of USD 37,000.
Average Base Pay for Related Job Titles
There are also many other relevant positions in SaaS product management. Each one has its pay rate per hour and annual salary.
This is good for younger workers and those just graduating from college. It shows that aside from working as a SaaS product manager, there are many other relevant jobs in the industry and plenty of room to grow.
Let’s take a look at a few related job titles:
- SaaS senior product manager
- Associate product manager
- Chief product officer
- Senior product marketing manager
- Senior product managers
- Software product team lead
What are the Factors that Influence SaaS Product Manager Salary?
The salaries we’ve covered are generalized figures of what a SaaS product manager makes. However, it’s essential to realize that many external factors influence potential earnings.
1. Company’s Size and Market Cap
For instance, company size is a determining factor that influences management’s decision on how much they pay their product managers per hour or year.
As you might guess, smaller companies have smaller, more limited budgets. This means that the base salary for a SaaS product manager at a smaller company is also lower.
On the other hand, for those working at larger companies in the tech industry, such as Google or Microsoft, salaries are higher while also offering better benefits, bonuses, and additional cash compensation.
SaaS product managers working at companies such as Google, Slack, Microsoft, and Uber sometimes earn well over $200,000 per year.
2. Previous Roles and Experience
At the same time, previous work experience is another major factor influencing potential salary.
For example, the longer an individual has been working in the tech industry or a related field, the higher their median salary. Furthermore, any relevant formal education or product management certifications an individual has also play a big part in determining their compensation.
On the other hand, those seeking entry-level positions find themselves on the lower end of the salary spectrum. In the United States, an entry-level position, on average, earns $98,000 per year.
In contrast to this, more tenured, senior product managers make double that amount.
3. Sector and Industry
Aside from the size of the company and the individual’s prior work experience, the industry sector also influences the pay of a SaaS product manager.
For instance, some sectors, such as cybersecurity or communications, are more competitive than others, such as retail or consumer-based industries. In turn, this means that companies operating in more competitive, relevant sectors offer better compensation.
4. City, Region, and Country
Location is another major factor influencing a SaaS product manager’s pay rate or annual salary.
However, location-based changes in salaries aren’t limited to different countries. And even within the United States itself, a SaaS product manager earns a different salary depending on the location.
For instance, the average compensation for a SaaS product manager in New York, NY, is $138,500 per year or $66 per hour. Whereas the same position in San Francisco, CA, on average, pays $169,000 or $81 per hour, and in San Jose, CA, the average salary is closer to $167,000 or $80 per hour.
SaaS Product Manager Additional Cash Compensation
By now, it’s easy to see that, for those with the relevant skills and education, a career as a SaaS product manager is a lucrative one. On top of that, many software and tech companies offer additional cash compensation, such as bonuses or other financial incentives for suitable candidates.
But the annual salaries and pay per hour of SaaS product managers aren’t just admirable. There’s also a growing demand for individuals with these skills everywhere.
What does a SaaS Product Manager do?
There are many duties and tasks involved in being a SaaS product manager. However, in general, the role of a SaaS product manager is to oversee the production of any new software products created by their employer, from the initial conception to the market launch.
Furthermore, a SaaS product manager also oversees any future changes to their products, including software updates, bug fixes, and beta testing.
When it all boils down, a SaaS product manager is in charge of a software product’s entire lifecycle from end to end.
Final Remarks
So whether you’re a senior product manager and looking for a job in a new field or a tech-savvy college graduate looking to take on the world, a career as a SaaS product manager is a great choice!
FAQs
Here are answers to the questions regarding SaaS product managers:
What is a SaaS product manager?
A SaaS (Software as a Service) Product Manager is responsible for the development, product strategy, and management of cloud-based software products. They focus on user needs, market trends, and business goals to drive product innovation and improvement. This role involves working closely with cross-functional teams, including engineering, sales, and marketing, to ensure the product meets customer expectations and achieves business objectives.
Is product manager a high-paying job?
Yes, being a product manager is generally considered a high-paying job, especially in the tech industry. Salaries typically range from $110,000 to $160,000 annually, with higher earnings in senior or specialized roles. Additional compensation such as bonuses, stock options, and benefits can significantly enhance their total remuneration.
What is the salary of a product manager in SaaS in India?
In India, the salary of a SaaS Product Manager typically ranges from ₹15 lakh to ₹30 lakh per year, depending on experience, company size, and location. Leading tech hubs like Bangalore and companies with significant market presence offer higher salaries. Total compensation, including bonuses and stock options, can further increase these figures.
How much can you make in SaaS?
Senior roles can command salaries ranging from $120,000 to $200,000 or more annually. Additionally, lucrative bonuses, stock options, and other incentives can significantly boost total compensation packages.
If you are new to product management and are looking to break into your very first product manager role, we recommend taking our Product Manager Certification Courses, where you will learn the fundamentals of product management, launch your product, and get on the fast track toward landing your first product job title.
