Would you like to know what the average B2B product manager salary is? Well, you’re in the right place!
According to Glassdoor, the average B2B product manager salary in the US is $161,935, with the average salary range being between $100,000 and $267,000. Meanwhile, data from Comparably shows that an average senior product manager in the B2B vertical earns $120,000, in the US.
The average product manager salary depends on a number of factors, including industry, location, education, and total years of experience.
On top of that, according to Comparably, B2B product managers earn the most in Salt Lake City.
In this article, we dive deeper into the average product salaries of B2B PMs.
Let’s get started.
Average B2B Product Manager Salary
The B2B product manager position is a full-time role that involves managing one or multiple products. For the most part, B2B product managers work in the software, IT, and tech industry.
That said, many other industries that are utilizing IoT, such as the home services industry, do make use of B2B PMs. However, each industry has a somewhat different outtake on the responsibilities of a B2B product manager.
This is why there’s a huge discrepancy between B2B product manager salaries in different industries. Therefore, it’s advisable to filter your industry when looking for an exact yearly salary figure.
According to Salary, the average salary of a B2B product manager in the US is $100,756. Furthermore, the average B2B product manager salary ranges between $89,726 and $114,850.
These salary ranges are the result of entries of anonymous product manager employees. The employee enters all the salary data, including their average additional cash compensation, benefits, and average product salaries.
They also mention their total number of years of experience, location, industry, certifications, education, and additional skills. This helps divide and filter the results according to each factor.
Therefore, you are better off including all the filters before determining the exact B2B product manager salary average.
That said, according to the data, the highest salaries are not in global brands but in tech companies. It’s possible to also find startup jobs that pay well above the average B2B product manager salary.
In any case, it’s best to look at multiple sources to get a better idea and get more recent data.
Glassdoor is a well-known salary information website that provides job reviews, salary estimates, and average total compensation information.
They process customer data to derive average product salaries. Employees upload annual salary reports, enter the cost of living estimates, benefits information, and more to provide an accurate salary estimate.
Glassdoor adjusts the salary information based on every response gathered.
According to Glassdoor, the national average base salary of a B2B product manager in the US is $161,935. Meanwhile, the typical salary range is between $100,000 and $267,000.
What makes Glassdoor better than its alternatives is that the site allows you to add specific filters. This allows you to get a precise estimate of your salary. The more filters you add, the more precise the estimate. The following are some of the filters available:
- Choose your specific industry (keep in mind that subcategories like home renovations and home maintenance may be in a single category)
- Enter the size of the company you’re looking to apply to
- Enter your total years of experience in the B2B product management field
Each of the factors above affect product manager salaries. Other factors that play a role are location and technical expertise. Glassdoor lets you choose your location and only provides salary information from that area.
Furthermore, there are companies that have other job titles for the same job. It’s possible that a B2B product manager has an associate product manager title. That’s why it’s best to check specific employee reviews too.
Last but not least, Glassdoor allows you to check your career trajectory and your earnings based on where you stand. Therefore, it’s possible to check your potential as a product management director, chief product officer, and even a senior product marketing manager, among other roles.
Comparably is a comparison website that allows users to compare salaries, employers, and brands. Service professionals in every industry submit their salary information. Based on that, the platform makes a guess of the common product manager salary.
According to Comparably, a senior product manager in the B2B vertical earns $120,000. The typical salary range is between $96,000 and $144,000.
The site also allows you to filter salaries by the size of the company, years of experience, gender, educational level, and ethnicity.
If you’re looking for startup jobs, the site also has filters for ‘Stage of Company’ and ‘Money Raised.’
Career Outlook for a B2B Product Manager
B2B product managers have a similar career progression to B2C product managers. The difference comes in their focus.
B2B product managers focus on a specific industry, as they need to understand everything there is to know about their product’s industry. They’re industry experts who require in-depth knowledge of all industry trends to do their jobs.
Meanwhile, B2C product managers have a wider focus because they focus on the product and individual buyers.
In any case, a B2B product manager moves to a lead product manager role when they have adequate knowledge of the field and industry. After that, they either go for a senior product manager position or a principal product manager role.
In any case, the following are some salary estimates for senior PM roles to give you an idea.
Lead Product Manager
The lead product manager is responsible for overseeing a specific product line. They don’t manage other PMs but they are responsible for oversight. The average lead product manager salary in the US is $190,329.
Senior Product Manager
The senior product manager plays a managerial role, overseeing other product managers. They are responsible for communicating relevant information to senior management and above. The average senior product manager salary in the US is $187,542.
Principal Product Manager
The principal product manager oversees all the product-related items but doesn’t have any people management responsibilities. They are individual contributors that help move the product roadmap forward. The average principal product manager salary in the US is $223,371.
Director of Product Management
The product management director is among the senior-most roles below the chief of product. They are responsible for the entire product department and product team, and they report to C-level executives. The average product management director salary in the US is $271,421.
Top Paying Cities for B2B Product Managers
The salary patterns of B2B product managers are similar to those of typical product managers. The following are some of the top-paying cities for product managers in the US.
US West Coast
- San Francisco: $125,660
- San Jose: $116,164
US East Coast
- New York: $118,310
- Atlanta: $115,533
US Midwest/Rocky Mountains
- Chicago: $116,266
- Salt Lake City: $111,250
- Dallas: $103,924
- Austin: $113,321
Education Level for B2B Product Management Roles
A B2B product manager needs to be a qualified service professional who understands the industry well. Business-to-business interactions not only require excessive knowledge of the industry but also of upcoming trends.
Most industries have a fast-paced environment that requires continuous learning. To maintain a clear product vision, introduce new products, and help launch cross-channel marketing campaigns, B2B product managers need to be one step ahead.
This is why most companies require a bachelor’s degree in a relevant field as a minimum. However, almost every company looks for candidates with a focus on their industry.
For example, someone with a computer science background is bound to have more job opportunities, provided they have previous experience with product management.
Furthermore, it helps to have some product management certifications. The following are some PM certifications that add to your credibility.
- Certified Product Manager by Product HQ
- B2B Product Management by The Chartered Institute of Marketing
- School of Product Management by Product Management University (by Proficientz)
- Product Manager Certification by the Product School
- Certified Technical Product Manager by Product HQ
It’s also wise to complete some B2B product manager courses to stay up to date.
B2B Product Manager Salary Across Top Companies
Every company adjusts the median salary for a product manager based on the contract type, location, and various other factors. However, the following are some average B2B product manager salaries at some well-known firms.
- American Express: $182,709
- Nestlé: $171,249
- Google: $160,912
- Boeing: $164,313
- Cisco Systems: $159,082
Keep in mind that there is a good difference in salary estimates between multinational companies and small businesses.
B2B product manager salaries are not too different from B2C product manager salaries. The difference comes when the industry requires a lot of technical knowledge.
For example, a B2B product manager in the IT industry is bound to earn more than a B2C product manager in the same industry.
In any case, it’s fair to compare typical product manager salaries to get an idea of the B2B product manager salary.