Salary Insights: Head of Product

We were recently engaged by a client to conduct a search for a Head of Product. Our client is a large financial services company providing financial products to unbanked and underbanked communities in developing countries. They are planning to launch a native digital product for targeting millennials or others who are a primary digital/mobile consumer.

Our client was looking to find their first employee who would join as the Head of Product to architect the roadmap for the product and its business. The intent of the role is that the hire would assume the CEO position and run the business once the product was launched.

Amazing American: $260K USD base + variable

  • This NYC-based candidate was identified by the client as someone who they had heard about and wanted us to approach.
  • 25 years of employment experience with extensive experience working in the financial services industry for an investment bank as well as an early-stage fintech joint venture.
  • Championed product management in companies with little understanding of the function or its value. Led the function to release of world-class product experiences leveraging big data and decisioning solutions.
  • STEM degree

Enthusiastic Engineering Expert: $200K base + variable

  • Considered an “industry expert” in the areas of native mobile, AI and Machine Learning.
  • 28 years employment experience ranging from large enterprise software companies, and retail banking to Founder experience.
  • Championed the transformation of the mobile product experience and functionality of a high profile consumer brand used by millions of Canadians.
  • Experience leading teams as large as 120+ people in a distributed model.
  • Masters + Engineering degree

Marvellous Marketer Turned Product Manager: $225K base + variable

  • Began their career marketing products and consumer experiences, transitioning into product management 5 years earlier.
  • 17 years of employment experience with 8 years of banking and financial services industry experience.
  • Experience being the first Product Management hire in an organization and “disrupting” a traditional industry with design thinking and how the UX of a consumer impacts growth and the development of new products and services.
  • BA and Commerce degrees, Scrum Certification

The Hire: $150K + 20% bonus

  • Was most recently responsible for the consumer experience and product of a large Canadian brand whose users are in the millions and whose digital and mobile products are considered an innovative B2C brand.
  • 18 years of employment experience, most of which was spent in financial services and banking.
  • Championed the digital transformation of a bank’s mobile banking product.
  • Experience being the first Product Management hire in an organization and championing the role and how it impacts decision-making and brings value to the business and product. Also has experience leading large teams.
  • Business Degree + MBA

To attract and land this candidate, our client offered a $175K base + 30% bonus + options.

As you can see, compensation for these candidates varies significantly based on the length and scope of experience, as well as their ability to thrive in similar environments.

* * * * *

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 makeup compensation, and to help our clients and candidates better understand the current market forces that affect earning potential.

Is your organization hiring key product talent that will drive your growth? Book a consultation with our friendly and knowledgeable team today—we live and breathe the tech talent ecosystem every day, and can help you understand the market for the talent you need.