An associate product manager is an entry-level position. He or she assists the product manager in developing, marketing, and launching products to ensure profitability. As such, an associate product manager is responsible for helping the product manager strategize to sell the company’s offerings better and forecast profit and loss. He or she directly reports to the product manager or brand manager.
Read More about an “Associate Product Manager”
What are the Responsibilities of an Associate Product Manager?
An associate product manager is crucial to an organization as he or she often handles critical responsibilities such as:
- Managerial tasks: While the bulk of administrative work goes to the product manager, an associate manager is expected to assume the managerial role when it comes to product innovation and developing and implementing strategies to ensure the best product placement in the market. Part of this is actively monitoring promotional and advertising campaigns.
- Market research: Associate product managers are also responsible for doing extensive market research to understand their target audiences and reflect their needs in product development. Part of this also means getting to know the competition to stay on top.
- Trend analysis: To ensure product success, associate product managers should also analyze market and industry trends. They should also factor in customer feedback to improve their product quality.
In addition to these critical responsibilities, associate product managers are also expected to come up with new strategies for new products while maintaining the profitability of old offerings.
What Courses do Associate Product Managers Take?
In general, a bachelor’s degree is enough to become an associate product manager. The usual courses that would give you an edge include marketing and business management.
More than the educational background, however, employers also often consider hiring applicants with relevant experience in developing products related to their industry. A cybersecurity company, for instance, would prefer hiring someone with years of experience in the software and technology product sectors.
How Much does an Associate Product Manager Earn on Average?
An associate product manager’s salary often depends on the organization they work for and how crucial the role is to the company’s success. According to Indeed.com, an average entry-level associate product manager in the U.S. can earn as much as US$82,293 annually. Associate product managers can also enjoy additional cash incentives starting from US$3,000 per year and several benefits such as health and life insurance, paid time off, and 401(k).
Those with more extensive experience get paid better, of course. A more senior role, for example, can fetch a salary of at least US$120,000 per year. Location is also a factor. In the U.S., those located in California (San Francisco), Georgia, and New York can earn between US$84,000 and US$120,000 a year. In comparison, those in Pennsylvania and Illinois can enjoy a salary of US$60,000 to US$63,000 annually.
Most associate product managers who excel at their jobs can climb the ladder of success and become product managers eventually.