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How much should a Product Manager get paid???

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Originally posted by: Descartes

Your location has nothing to do with it... nothing. It is your liability and not that of the company. That's the only thing to consider here. If you worked for me I'd pay you what you're worth, and not twice that amount just because you happened to have a few clients on the side at your primary location. Think about that for a moment...

Aha! But that brings us back to the whole point of this thread.

Is it that the employer doesn't know what I'm worth or simply not willing to disclose that because he doesn't want to have to pay that much!?

He knows what product managers make. He has others. Asking me to move and then throwing me a number based on what I tell him I currently make is too easy for him.

I know where you're coming from, and perhaps you're just that much more of an upstanding person than my current potential employer. So I take back what I said about not wanting to work for you.... 😉

....but coming up to me and saying, "Jon, I think you're worth 120K. Come work for me." and "Jon, I want you to work for me. How much do you make?" are two TOTALLY DIFFERENT THINGS.

 
Originally posted by: jonnyGURU
Originally posted by: Descartes

Your location has nothing to do with it... nothing. It is your liability and not that of the company. That's the only thing to consider here. If you worked for me I'd pay you what you're worth, and not twice that amount just because you happened to have a few clients on the side at your primary location. Think about that for a moment...

Aha! But that brings us back to the whole point of this thread.

Is it that the employer doesn't know what I'm worth or simply not willing to disclose that because he doesn't want to have to pay that much!

It's all in negotiations man. Two things: One, they don't want to pay more than necessary; two, they're going to use your self-valuation (note I said valuation) as an indication as an indication of your experience. You see, if you go for a Product Management position and suggest $50k they're going to consider you suspect, without question. If you go at them with $200k they're going to consider you overvalued (most likely--I know there are exceptions). There is a happy medium there, and by asking this ostensibly simple question they get a cross-section of your value. They might of course also consider the market value (I can't believe I just said that in reference to a person, but hopefully you get my meaning) of someone in your position, and how far you aberrate from that value colors their overall perception of your worth.

He knows what product managers make. He has others. Asking me to move and then throwing me a number based on what I tell him I currently make is too easy for him.

Indeed. It's a way to very quickly see who you really are. It's an aggressive play on his part, and I think by our somewhat lengthy conversation you can see this. It removes any responsibility on his part and puts it entirely on you.

I know where you're coming from, and perhaps you're just that much more of an upstanding person than my current potential employer. So I take back what I said about not wanting to work for you.... 😉

Kind words appreciated. I just like people getting paid what they're worth, and I've been known to actually argue for more when I feel they undervalue themselves; I've also been known to argue the opposite when someone is obviously overvaluing themselves.

I don't like these types of games during negotiations, so I like to bring it all out on the table.

....but coming up to me and saying, "Jon, I think you're worth 120K. Come work for me." and "Jon, I want you to work for me. How much do you make?" are two TOTALLY DIFFERENT THINGS.

But see, now we have the total opposite: He assumed more responsibility than you. Saying such things obviously makes it easy for you (unless they offered you something like $20k in which case you might as well just forget about negotiations)

It's like chess, really. Who has the opening move, and do they control the center? Do you move your king's pawn to the center as though to say, "I'm worth $120k", or do you instead offer up something like the rook's pawn as if to say, "Your turn; You tell me." How aggressive one is in the beginning can undermine the other side for the entire negotiation. I prefer a balanced play by allowing both access to the center, and in so doing you get a better understanding of both sides.

Sorry about the chess metaphor. I glanced at a chess book while writing this.
 
Chess metaphor acceptable. 😉

On the "negotiation tip"... I neither accepted or declined the offer (duh, right?) But did tell him that relocation may be more expensive than I anticipated so his offer would require significant consideration. In other words, "the ball's in his court." Sorry about the tennis metaphor. 😉

Of course, "cost of moving" isn't his problem. Cost of living is. 😉 But then again, if he was willing to pay people "what they're worth" in the first place, cost of living issues wouldn't be a problem. 😀
 
Originally posted by: spidey07
Product managers make serious dough - 200K plus.

If they are smart they get a cut of sales.


Unles you provide a concrete example of company and title, you're statement is false.
 
Originally posted by: jonnyGURU
I'm just wondering what the position normally pays.

I think I might be getting jipped at my current job and a new position of product manager at another job opened up and when they approached me about the job, they asked me how much I currently made. Therefore, I must believe that they based their "offer" on that dollar figure, but I have to move for this new job and although it would pay more, I'm noticing the cost of living, home prices, etc. are more expensive than where I'm at now.

I'm just curious what such a position pays in salary normally, without someone gaging it on what I currently make. I know what I make now is based on what I made before, so I think it's time to just break the cycle and start getting paid what I DESERVE, NOT what I can get by on.

So many questions like this...if you were seriously a Project Manager, as opposed to someone just starting at it. You would state what you are doing, how many people you are handling, what the companies revenues are, etc.

The fact is there are $30k/yr project managers for small teams/business and those making $30k a week.

If you are the only one that thinks you deserve more there may be a problem. Put out your resume and if you're worth it someone will scoop you up in no time.
 
Originally posted by: alkemyst
Originally posted by: jonnyGURU
I'm just wondering what the position normally pays.

I think I might be getting jipped at my current job and a new position of product manager at another job opened up and when they approached me about the job, they asked me how much I currently made. Therefore, I must believe that they based their "offer" on that dollar figure, but I have to move for this new job and although it would pay more, I'm noticing the cost of living, home prices, etc. are more expensive than where I'm at now.

I'm just curious what such a position pays in salary normally, without someone gaging it on what I currently make. I know what I make now is based on what I made before, so I think it's time to just break the cycle and start getting paid what I DESERVE, NOT what I can get by on.

So many questions like this...if you were seriously a Project Manager, as opposed to someone just starting at it. You would state what you are doing, how many people you are handling, what the companies revenues are, etc.

The fact is there are $30k/yr project managers for small teams/business and those making $30k a week.

If you are the only one that thinks you deserve more there may be a problem. Put out your resume and if you're worth it someone will scoop you up in no time.


Very good post. Truth is, I am not a Product Manager by trade. But if you look at the progression of the thread, I don't think I "deserve more than I'm worth," I merely dealing with someone that wants to put that ball in my court or underpay me.

This is an opportunity. I'm not actively seeking a product manager position, but I am.. as I'm sure most people are... looking for any position that can provide more growth and income than where I'm currently at (grass is always greener, yadda, yadda yadda.)
 
Originally posted by: dr150
Originally posted by: spidey07
Product managers make serious dough - 200K plus.

If they are smart they get a cut of sales.


Unles you provide a concrete example of company and title, you're statement is false.

Nortel Networks Product Manager for the 450 line - over a million a year. friend of mine...saw his bonus checks.

Product Manager for Catalyst 6500 line - over a million a year...nother friend of mine.

Their money came from the sales bonus.
 
Originally posted by: spidey07
Originally posted by: dr150
Originally posted by: spidey07
Product managers make serious dough - 200K plus.

If they are smart they get a cut of sales.


Unles you provide a concrete example of company and title, you're statement is false.

Nortel Networks Product Manager for the 450 line - over a million a year. friend of mine...saw his bonus checks.

Product Manager for Catalyst 6500 line - over a million a year...nother friend of mine.

Their money came from the sales bonus.


Haha.. Those are VERY SERIOUS product lines. I'm not in that league AT ALL. 😀

That does bring up a great point. Last two posts, that is. It really depends on the product. Unfortunately, the product is under development so it's really not something that can be sized up against current product manager salaries. 🙁
 
Originally posted by: Descartes
Originally posted by: jonnyGURU
Originally posted by: Descartes

Also, $1500/mo hardly requires a six-figure income. When you approach six-figures you start making that amount in a week, and if you can't make it on that you have more problems than an expensive apartment.

I'm calling shens. 😉

$1500 per week gross would only be 72,000 per year. Even if you net $1500 that's not going to be a six figure salary.

I always think in terms of net, sorry. I said "when you start approaching...", so I wasn't referring to hard numbers. Point is that $1,500 really isn't that much, and you don't have to make $100k to afford it.

I also don't think it's unreasonable for one to appreciate netting more than 75% after the mortgage is paid each month.

I agree. I personally don't spend much than 10% of my monthly net on everything, but that's my own discipline.

Must have a nice job then. Do you own your house and car outright?
 
Originally posted by: dr150
My wife: top MBA, product manager tech co. in silly valley, six figures


That's because it takes at least five figures to break even for the cost of living there 😉


Ausm
 
Originally posted by: Descartes
Tru dat. I'm single and without human progeny, and that's why I choose to live so parsimoniously now. By putting financial responsibility at the forefront I can insure that my [potential] family will be accommodated later. I also don't want to have to work until I'm 59.5.

You had to qualify that? :Q
 
Originally posted by: alkemyst
Ahh Product Manager isn't this what they call the guys in Best Buy now?

LOL! I think so, yes.

Anyways, what's the product?

Can't really say. Patents aren't in place. It's a PC product. Not unique in function, but very unique in execution. Not even really my idea, but the PM that came up with it is already managing so much other stuff. I sort of said, "Looks good. That has potential." and so the CEO said, "OK. You want this baby? Move down here and let's make it happen." A couple trips to China, oversee QC,.input, improvements, revisions, etc. That kind of thing.
 
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