Understanding Senior Product Manager Salaries in 2021

We were recently engaged by a client to conduct a search for a Senior Product Manager. Our client is a Canadian software vendor whose delightful apps and visually creative add-on features are used by consumers around the world. At the time of our engagement, they employed approximately 175 full-time employees across Canada and the USA.

They were looking for a candidate with a technical background and who had shipped a digital product (such as mobile games or apps) and demonstrated the ability to "stick with it." Their goal was to grow the product's features and delight their users.

We presented a range of candidates: 

The CX Expert: $100K base + small bonus 

  • 5 years of employment experience, 4 of which were in Product Management
  • Experience releasing mobile apps and consumer experiences to Canadian consumers
  • Economics Degree

The Gaming Genius: $120K base + 20% bonus 

  • 11 years of employment experience, 10 of which were in Product Management 
  • Experience releasing mobile apps and consumer experiences 
  • Other product experience included mobile apps (ios/android), mobile games, ecomm platforms used by consumer marketplaces and in international markets
  • Computer Science degree + MBA

The Technical Titan: $115K base + 15% bonus 

  • 14 years employment experience, 4 of which in Product Management 
  • Product experience was limited to one employer, however the product is a large platform with millions of users globally.
  • Previous experience working on B2B SaaS platforms as a Consultant 
  • Engineering degree + MBA

The Hire: 

  • 15 years employment experience, 8 of which in Product Management 
  • Experience with products across multiple industries and user personas 
  • Previous experience shipping products internationally (both SaaS and mobile apps) 
  • Business degree + MBA

To attract and land this candidate, our client offered a $170K CDN base + equity. 

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.

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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 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.