Job profile
Product Manager (m/f/d)
What is a product manager? Definition, tasks and skills
The product manager is a key figure in product development and marketing. Their main focus is on managing and overseeing the entire life cycle of a product - from conception and research to development and customer feedback.
The product manager's tasks are wide-ranging: they analyze the market, identify customer needs, develop product strategies and work closely with various teams. This ensures that the product to be developed also meets customer requirements. As a product manager, you are the linchpin between technology, marketing, sales and design. Your skills in communication, project management and strategic planning are crucial to successfully developing products and bringing them to market.
Product managers are in high demand these days and play a role in almost every company. It is therefore advisable to orient your career towards product management: to start your career, start as a Junior Product Manager until you work your way up to Senior Product Manager or even Chief Product Officer (CPO) through good performance and more experience.
Product manager salary in Austria: A comprehensive overview
The average salary of a product manager in Austria is € 55,200 gross per year. People in this profession earn best in Bregenz, Vorarlberg, where the average salary is € 61,100. Other cities in Vorarlberg, such as Dornbirn or Hard, are ranked below this - even above Vienna.
You earn the highest salaries in the banking and IT sectors, while the retail sector pays below-average salaries to product managers.
Starting salary as a product manager in Austria: Junior product manager salary
Senior Product Manager: your salary after a few years
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What does a product manager do? – Tasks and activities
Here are some of the key tasks that a product manager handles in their day-to-day work:
1. Product development and product range design:
- The product manager works closely with the production department to design and develop prototypes.
- He analyzes the entire range and designs the product accordingly.
- Regular market and competition analyses help him to take current trends and customer needs into account.
2. Marketing and positioning:
- The product manager develops communication strategies using suitable marketing tools to successfully position the products.
- Targeted marketing campaigns are created under the control of the product manager in order to increase awareness and sales.
3. Distribution and sales channels:
- Together with the sales department, the product manager determines sales targets and defines the corresponding sales channels.
- It monitors the budget available for sales policy measures and advertising campaigns.
4. Controlling and product life cycle:
- After the market launch, the product manager monitors the product life cycle and derives appropriate measures.
- It prepares strategic decision papers for the management based on market data, competitive analyses and target group information.
Here are some of the key tasks that a product manager handles in their day-to-day work:
1. Product development and product range design:
- The product manager works closely with the production department to design and develop prototypes.
- He analyzes the entire range and designs the product accordingly.
- Regular market and competition analyses help him to take current trends and customer needs into account.
2. Marketing and positioning:
- The product manager develops communication strategies using suitable marketing tools to successfully position the products.
- Targeted marketing campaigns are created under the control of the product manager in order to increase awareness and sales.
3. Distribution and sales channels:
- Together with the sales department, the product manager determines sales targets and defines the corresponding sales channels.
- It monitors the budget available for sales policy measures and advertising campaigns.
4. Controlling and product life cycle:
- After the market launch, the product manager monitors the product life cycle and derives appropriate measures.
- It prepares strategic decision papers for the management based on market data, competitive analyses and target group information.
Junior Product Manager: Tasks
The role and responsibilities of a product manager can vary depending on experience level. Here are some of the key differences between a Senior Product Manager and a Junior Product Manager:- The Junior Product Manager usually reports to a Senior Product Manager.
- In this position, he or she learns the basics of the job and gains initial professional experience.
- In contrast to their more experienced colleagues, junior product managers have no budget or management responsibility.
- As a rule, they work fully operationally on specific products or services.
Senior Product Manager: Tasks
- Senior product managers often have a budget and make decisions about investments in product development, marketing, etc.
- Senior product managers generally have a broader area of responsibility than junior product managers.
- As a Senior Product Manager, you are often also responsible for strategic decisions.
Differences between product managers and product owners: customer side and product side
The two role designations Product Owner and Product Manager are often equated - but this is wrong, as there are certain differences between the roles.
While the product owner maintains the product backlog and manages the tasks during the development of the product, the product manager has a more visionary view of the product development process. The product manager is therefore often more customer-oriented and analyzes the market. The product owner focuses on the product and the current production cycle and always wants to increase the value of the product .
For example, the product manager recognizes the need for a product due to high demand and the product owner responds by generating a product backlog and initiating the first development steps and involving the required developers. Here, the customer side and the product side work closely together, which is why both roles are essential for the success of the product.
Become a product manager: Study, training & further education
Product management studies
Suitable fields of study are:
- Business Administration (BWL): A degree in Business Administration provides basic knowledge in the areas of marketing, finance and corporate management. These subjects are of crucial importance for product management.
- Computer Science or Engineering: Technical (or in many cases scientific) understanding is essential for female product managers. A degree in computer science or engineering will enable you to understand the technical aspects of products and work with developers.
- Product management studies: Some universities offer special courses in product management. These cover both the theoretical and practical aspects and prepare their students specifically for this role.
Any missing knowledge relating to the product or other requirements is usually learned by the prospective product managers in practice. There are also numerous further and advanced training courses that teach product management in more detail and provide up-to-date training for representatives of this profession.
Product manager training
There is generally no traditional training to become a product manager, so it is advisable to opt for a degree course and combine this with practical experience.
Nevertheless, there are also training courses that can pave the way towards product management: Commercial apprenticeships that also provide trainees with marketing skills and business know-how are suitable for embarking on a career in product management. It is always important to focus on practical experience:
- Internships: The study period is the perfect time to gain practical experience in companies through internships. Ideally in areas such as marketing, product development or project management.
- Professional experience: Experience in related professions sharpens skills and provides the necessary prerequisites for a position as a junior product manager. This could be in the areas of marketing, sales or project management, for example.
Further training as a product manager
Here are some possibilities:
- Agile project management: There are various certifications in agile project management that lead to greater efficiency in the team. These include, for example, the "Professional Scrum Product Owner" (PSPO), "OKR Coach" (OKRC) or "Accredited Agile Coach" (AAC) certifications.
- Product management: Certified product management training courses train you to become a "Product Management Professional" (PMP), for example. These certificates attest to your specialist knowledge and your commitment to the industry.
- Business administration: Further training in business administration promotes an economic understanding of the product and market. This knowledge will make it even easier for you as a product manager to market the product or service effectively.
- Seminars and workshops in your specialist area: Seminars and workshops are helpful for product managers to stay up-to-date in their respective specialist area. These training courses are industry-dependent and provide you as a product manager with the expert status required for your product or service.
Product manager as a career changer
Skills of a product manager: from empathy to market knowledge
- A good product manager understands the needs and wishes of customers. Empathy makes it possible to develop products that actually offer added value.
- Communication is essential to interact with different teams - from developers to marketing experts and executives. Product managers must be able to present theirideas clearly and convincingly and often enter into negotiations.
- Product managers must be able to interpret data in order to make informed decisions. Analytical skills help with the evaluation of market trends, competitor analyses and customer feedback.
- Problem-solving skills are crucial to overcoming obstacles and finding innovative solutions. Therefore, product managers must be flexible and recognize alternative paths.
- Excellent organizational skills also help to keep track of all process steps and ensure that all the necessary people and tools are ready for use.
- A product manager should know their product or service inside out. They must understand the features, capabilities and limitations in order to be able to control the development process perfectly.
- At the same time, it is important to understand the market. Product managers should analyze the competition, identify trends and optimize the positioning of their product.
Product manager career: opportunities on the job market
Your opportunities as a product manager are very good on the Austrian job market. This professional field has a lot to offer, both in terms of salary and career progression.
Due to the cross-industry demand for qualified product managers, you have the opportunity to find employment in a wide variety of companies. Suitable candidates are primarily sought in companies that (regularly) offer new products or services.
Digitalization is also increasing the demand for product managers who are at home in the digital world, which is why further training in a technical direction definitely pays off. This includes, above all, the area of e-commerce, which is becoming increasingly important in product marketing.
There are also prospects for promotion and continuous further development in this professional field, which is why a junior product manager can look forward to the title of senior product manager after a few years of hard work. Due to the global demand and the need for international companies, your chances are not only good in Austria and German-speaking countries - qualified staff are also welcome in English-speaking countries.
As a rule, smaller companies do not create a specific role for product development, which is why you will increasingly find vacancies at large and medium-sized companies.
Top vacancies: Jobs for Product Manager in Austria
FAQ
Der Product Manager ist für den gesamten Lebenszyklus eines Produktes oder einer Dienstleistung verantwortlich. Er ist die Schnittstelle zwischen Entwicklung, Marketing, Vertrieb und anderen involvierten Bereichen und kümmert sich vor allem darum, den Anforderungen der Kunden gerecht zu werden.
Der Product Manager ist für den gesamten Lebenszyklus eines Produktes oder einer Dienstleistung verantwortlich. Er ist die Schnittstelle zwischen Entwicklung, Marketing, Vertrieb und anderen involvierten Bereichen und kümmert sich vor allem darum, den Anforderungen der Kunden gerecht zu werden.
On average, a product manager in Austria earns around €54,400 per year. After an initial starting salary of around €41,000, senior product managers can expect a salary of up to €83,000, depending on the industry and location.
As a rule, the profession of product manager requires a degree in a field such as economics or marketing. Apart from that, a variety of hard and soft skills are important to be successful as a product manager. These include strong communication skills and empathy, as well as excellent analytical and organizational skills.
As a rule, the profession of product manager requires a degree in a field such as economics or marketing. Apart from that, a variety of hard and soft skills are important to be successful as a product manager. These include strong communication skills and empathy, as well as excellent analytical and organizational skills.
The job of a product manager is challenging and requires a high level of expertise in various areas. These high demands are also reflected in the salary. However, after a suitable Bachelor's or Master's degree and sufficient practical experience, the job as a product manager is not too difficult, but always remains demanding.
The job of a product manager is challenging and requires a high level of expertise in various areas. These high demands are also reflected in the salary. However, after a suitable Bachelor's or Master's degree and sufficient practical experience, the job as a product manager is not too difficult, but always remains demanding.
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