We were recently engaged by a client to conduct a search for a VP of Product. Our client provides a B2B2C community software platform, with customers ranging from Enterprise clients to individual consumers. Their recent acquisition allowed them to invest in rebuilding their core platform, and were growing their Canadian office.
Our client was looking for someone who could play a very strategic role in the development of their business. The ideal candidate had experience leading product teams, and brought a rigorous disciplined approach to implementing Product Management best practices. They would inherit a small team, and be responsible for developing the overall monetization strategy and product roadmap.
We presented a range of candidates to our client:
The Startup Superstar: Base salary of $140K.
- Had built and managed a successful product team, which had launched products in market.
- Very comfortable working in fast-paced startup environments.
- Well versed in B2B product management.
The Pivoting Professional: Base salary of $145K, plus bonus.
- Over 5 years of experience working for a similar B2B2C tech company.
- Led a major pivot from waterfall to an agile process.
- A well-versed leader with a track record of leading successful teams and releasing products.
The Ideal Ideator: Base salary of $140K, with a 15% bonus.
- Had highly relevant experience managing Product teams who were building and launching similar B2B2C community platforms.
- Holds a STEM degree, and has experience being a startup Founder.
- Worked on platforms that processed thousands of transactions.
The Educated Employee: Base salary of $160K, with a 15% bonus.
- Held a STEM degree, MBA, and several Product Management certifications.
- Experienced managing teams that launched successful Products.
- Worked primarily with enterprise software vendors in corporate environments.
The Hire: Base salary of $180K + variable.
- A Founder who had build an internationally successful B2B2C business.
- A very strategic business leader with a laser focus on monetization.
- Experienced building and leading teams through rigorous application of Product Management best practices.
To attract the candidate they hired, our client offered a base salary of $175K, a variable bonus, and 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.
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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.
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.