<p>A product manager works and the intersection of people, finance and technology. They play a pivotal role in bringing new products and services to the market. </p>.<p>Often referred to as the 'CEO' of the Product, the Product Manager's role is undoubtedly alluring. But is Product Management the right career choice for you? </p>.<p>First, a Product Manager must be comfortable working with and through people from different functions, departments, roles etc. To bring a new product into the market requires bringing many people together.</p>.<p>A Product Manager must also have the ability to understand and leverage various functions within the organisation. This includes functions like marketing, sales, finance, supply chain and R&D among others.</p>.<p>The person must also have a very deep understanding of the markets and customers that the product is targeted at. If this understanding is flawed, the end-product or service developed will also be flawed.</p>.<p>Last, the Product Manager must be very comfortable with technologies of various kinds. And of course, the kind of technology is dependent on the kind of product or service that the organization wants to release into the market.</p>.<p>If these dimensions excite you, perhaps Product Management is the right career choice for you.</p>.<p>But is there a real career in Product Management?</p>.<p>Product Management is highly remunerative. A fresher currently earns an average total compensation of INR 13 lakh annually, while a Senior Product Manager can expect around INR 57 lakh annually. Not only this, big IT giants like Amazon, Google, or well-funded startups, offer industry veterans an annual package of over INR 1 crore.</p>.<p>The number of vacancies for Product Managers is increasing almost daily. Today, they are at the heart of all business strategies. Their job is critical, and business owners understand that a good Product Manager can do wonders for the success of their venture. </p>.<p>Currently, in the country, there are more than 46,000 vacant Product Management jobs available only on LinkedIn. These numbers indicate that this is the best time for Product Management aspirants to build a career in this function.</p>.<p class="CrossHead"><strong>Career paths </strong></p>.<p>Product Managers can choose to become entrepreneurs who start their own companies. On the other hand, if a person wants to continue building a career within the organisation, it is perhaps one of the best paths towards becoming a COO or CEO.</p>.<p>You start your career by taking responsibility for one or two simple features in a complex product. Over time, you are given responsibility for complete subsystems or simple products. Once you prove yourself at this level, you are given responsibility for complex products that have multi-crore budgets. This is when things get really exciting, and you can truly prove that you are the CEO of the product.</p>.<p>Working as a Product Manager, helps you hone the required leadership capabilities and aids you to become a successful leader. Imagine billions of people using your brainchild to solve their daily needs. That is an incredible motivator for getting up, out of bed, every morning.</p>.<p><em>(The author is the chief academic officer of an e-learning platform)</em> </p>
<p>A product manager works and the intersection of people, finance and technology. They play a pivotal role in bringing new products and services to the market. </p>.<p>Often referred to as the 'CEO' of the Product, the Product Manager's role is undoubtedly alluring. But is Product Management the right career choice for you? </p>.<p>First, a Product Manager must be comfortable working with and through people from different functions, departments, roles etc. To bring a new product into the market requires bringing many people together.</p>.<p>A Product Manager must also have the ability to understand and leverage various functions within the organisation. This includes functions like marketing, sales, finance, supply chain and R&D among others.</p>.<p>The person must also have a very deep understanding of the markets and customers that the product is targeted at. If this understanding is flawed, the end-product or service developed will also be flawed.</p>.<p>Last, the Product Manager must be very comfortable with technologies of various kinds. And of course, the kind of technology is dependent on the kind of product or service that the organization wants to release into the market.</p>.<p>If these dimensions excite you, perhaps Product Management is the right career choice for you.</p>.<p>But is there a real career in Product Management?</p>.<p>Product Management is highly remunerative. A fresher currently earns an average total compensation of INR 13 lakh annually, while a Senior Product Manager can expect around INR 57 lakh annually. Not only this, big IT giants like Amazon, Google, or well-funded startups, offer industry veterans an annual package of over INR 1 crore.</p>.<p>The number of vacancies for Product Managers is increasing almost daily. Today, they are at the heart of all business strategies. Their job is critical, and business owners understand that a good Product Manager can do wonders for the success of their venture. </p>.<p>Currently, in the country, there are more than 46,000 vacant Product Management jobs available only on LinkedIn. These numbers indicate that this is the best time for Product Management aspirants to build a career in this function.</p>.<p class="CrossHead"><strong>Career paths </strong></p>.<p>Product Managers can choose to become entrepreneurs who start their own companies. On the other hand, if a person wants to continue building a career within the organisation, it is perhaps one of the best paths towards becoming a COO or CEO.</p>.<p>You start your career by taking responsibility for one or two simple features in a complex product. Over time, you are given responsibility for complete subsystems or simple products. Once you prove yourself at this level, you are given responsibility for complex products that have multi-crore budgets. This is when things get really exciting, and you can truly prove that you are the CEO of the product.</p>.<p>Working as a Product Manager, helps you hone the required leadership capabilities and aids you to become a successful leader. Imagine billions of people using your brainchild to solve their daily needs. That is an incredible motivator for getting up, out of bed, every morning.</p>.<p><em>(The author is the chief academic officer of an e-learning platform)</em> </p>