We were recently engaged by a client to conduct a search for a Director of Product Management. Our client designs and manufactures connected devices, and are funded by US based venture partners. At the time of our engagement, they employed approximately 125 employees.
This organization was looking for a Director of Product Management with experience taking a similar IoT product to market. They needed someone with exceptional leadership skills who could add value to a small team of product managers. The ideal candidate would bring rigour to the product management function, be responsible for the overall product vision and roadmap, and could help realize additional paths to revenue while leveraging their existing product.
The client brought us in to help with this challenging search. We presented a range of candidates:
The Illustrious IoT Talent: Base Salary of $175K, with a variable bonus component.
- 20 years experience including engineering and product leadership roles.
- Currently managing 2 direct reports, and influences a broader team of 25.
- Responsible for a line of industrial products which encompass a hardware/software solution, sold globally for a privately held technology leader in their category.
The Anonymous Autonomous: Base salary of $205K, with a variable bonus.
- Currently acting as the General Manager of a product line of autonomous vehicles operating globally.
- Leader with 2 direct reports, and matrixed influence over the line of business.
- Client facing and functions as the voice of the customer into the development organization.
The Product Pioneer: Base salary of $145K.
- A Director level product leader with experience working for a number of high profile startups, as well as at an IoT innovation lab.
- Leads a team of 5, developing the product roadmap and GTM strategy. Engaged in client facing presales.
- Experience successfully launching new products in the market, with adoption and revenue growth.
The Hire: Base salary of $165K, with a variable bonus.
- 15 years experience, with a background in engineering.
- Successfully launched over 25 products in the market, and managed a $100M portfolio of market leading consumer electronics products.
- Scaled product teams successfully to support the release of new products.
To attract the candidate they hired, our client offered a base of $170K, options, and 4 weeks vacation.
As you can see, compensation for these candidates varies significantly based on the length and scope of experience, and leadership capability.
Are you getting ready to hire a Product Manager? We've created a free checklist to help you refine your requirements, plan the interview process, and get aligned on competitive compensation.
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For organizations and job seekers alike, it can be challenging to understand what a particular position should pay. Often, it’s a calculation between salary surveys that lack all context, what a person has earned in the past, and ad hoc conversations with others in the field.
We’re sharing market insights into current compensation packages for key roles in the tech industry. Our recruiters conduct targeted searches on behalf of our clients, seeking out candidates who fit the requirements of the role, and diligently qualifying them to present only the very best talent. These posts are meant to highlight the contextual elements that make up compensation, and to help our clients and candidates better understand the current market forces that affect earning potential.
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