Product Manager
Hiring Trends & Salary Insights

Product Manager (PM) Role & Responsibilities

Key Responsibilities:

A Product Manager (PM) oversees the entire product lifecycle, ensuring the product’s development aligns with business goals and customer needs. PMs work across industries like technology, fintech, retail, and SaaS, and are essential for both startups and multinational corporations. Their duties include market research, defining product strategy, managing cross-functional teams (engineering, marketing, design), and delivering products on time.

Industries Where PMs Typically Work:

Technology: Software, hardware, AI.

FinTech: Digital banking, insurance tech, financial products.

Healthcare: SaaS and digital health products.

E-commerce & Retail: Digital marketplaces and consumer tech.

Telecommunications: Communication and network solutions.

Company Size and Stages for Hiring PMs:

Startups:

Hiring Stage: PMs are typically hired after achieving product-market fit. Startups rely on them to spearhead product strategy and user growth.

Hiring Insight: PMs in startups often take on both strategic and operational roles, requiring adaptability and a hands-on approach.

 
Scale-ups:

Hiring Stage: Scale-ups hire PMs to manage rapid product iteration and development across various business verticals as the company grows.

Hiring Insight: PMs help scale-ups maintain momentum, expand customer bases, and handle growing product portfolios.

 
SMEs:

Hiring Stage: SMEs hire PMs to streamline product processes, often combining the role with other operational functions.

Hiring Insight: PMs in SMEs are resourceful and versatile, handling multiple responsibilities within a resource-constrained environment.

 

MNCs:

Hiring Stage: MNCs employ multiple PMs, including Senior PMs, Associate PMs, and Chief Product Officers, to manage large product portfolios.

Hiring Insight: These PMs oversee complex product pipelines, focusing on global market strategies and product innovation on a large scale

Global Hiring Trends for Product Managers

Remote Shift: The global shift to remote work has pushed companies to hire PMs remotely, particularly from tech-forward low-cost regions like Southeast Asia, Eastern Europe, and Latin America.

 

Sectoral Growth: Digital transformation is increasing PM demand in industries like fintech, healthcare, and manufacturing.

 

Early-Stage Hires: Startups and scale-ups often hire PMs early in their lifecycle to help drive product development in competitive sectors like fintech and SaaS.

Salary Comparison for Product Managers

(Monthly – USD)

LOW COST LOCATIONS
JUNIOR
MID
SENIOR
HIGH COST LOCATIONS
JUNIOR
MID
SENIOR
SAVINGS
Romania
$3,000- $4,000
$4,500- $6,000
$7,000- $9,000
Switzerland
$8,000- $10,000
$11,000- $13,000
$14,000- $16,000
55%-65%
Georgia
$3,000 - $4,500
$3,000 - $4,500
$3,000 - $4,500
Saudi Arabia
$10,000 - $12,500
$10,000 - $12,500
$10,000 - $12,500
70%
India
$3,000 - $5,500
$3,000 - $5,500
$3,000 - $5,500
Singapore
$9,500 - $12,000
$9,500 - $12,000
$9,500 - $12,000
60%
Philippines
$3,000 - $4,500
$3,000 - $4,500
$3,000 - $4,500
USA
$9,000 - $13,000
$9,000 - $13,000
$9,000 - $13,000
55%
LatAm
$4,000 - $6,000
$4,000 - $6,000
$4,000 - $6,000
Canada
$8,500 - $11,000
$8,500 - $11,000
$8,500 - $11,000
55%
Sth Africa
$4,000 - $5,500
$4,000 - $5,500
$4,000 - $5,500
Ireland
$9,000 - $11,000
$9,000 - $11,000
55%
Vietnam
$3,500 - $5,000
$3,500 - $5,000
$3,500 - $5,000
UK
$9,000 - $12,000
$9,000 - $12,000
$9,000 - $12,000
60%
Indonesia
$2,500 - $4,000
$2,500 - $4,000
$2,500 - $4,000
Japan
$10,000 - $14,000
$10,000 - $14,000
$10,000 - $14,000
70%

Low Cost Regions Nuances & Regional Insights for Product Managers

COUNTRY
REGIONAL INSIGHTS
HIRING TRENDS
Romania
Romania is growing as a tech hub for Eastern Europe, providing affordable PM talent with strong educational backgrounds and technical expertise. The proximity to Western Europe makes Romania an ideal location for outsourcing PM roles.
EU-based companies increasingly hire PMs from Romania to reduce costs without sacrificing talent quality.
Georgia
Georgia is a growing market with lower operational costs. The country’s tech sector is still maturing, but it offers competitive pricing for companies looking to outsource product management.
Companies expanding into Eastern Europe or the Caucasus hire Georgian PMs for their local expertise and affordable services.
India
India is a well-established outsourcing destination with deep expertise in technical and management roles. PMs in India manage complex, global-scale projects, particularly in IT and fintech sectors.
MNCs, particularly tech companies, hire PMs from India to manage global product development while benefiting from the cost savings
Philippines
The Philippines has a growing tech sector, and PMs are increasingly hired to manage digital product lifecycles. Strong English proficiency and cost-effective labor make the Philippines an attractive outsourcing destination.
North American companies hire PMs from the Philippines for their technical expertise and lower labor costs, making it ideal for managing remote teams.
Latin America
Latin America is a growing tech hub, with a strong focus on fintech and e-commerce. The region’s proximity to North America makes it an attractive location for outsourcing PM roles.
US and Canadian companies increasingly hire PMs from Latin America to align with similar time zones and cultural proximity while reducing costs.
South Africa
South Africa has a multilingual workforce and a rapidly growing tech ecosystem. The favorable time zone for European companies and competitive labor costs make South Africa an appealing outsourcing location.
European and Middle Eastern companies frequently hire South African PMs to manage products in fintech and telecommunications sectors.
Vietnam
Vietnam’s tech industry has seen rapid growth in recent years, especially in startups and SMEs. PMs in Vietnam are skilled at managing product lifecycles for global and local products.
Companies hire Vietnamese PMs for their cost-effective expertise and growing understanding of Southeast Asia's dynamic tech ecosystem.
Indonesia
Indonesia’s digital transformation is booming, and the demand for PMs is increasing, particularly in fintech and e-commerce. PMs in Indonesia are becoming more skilled in managing digital services and product lifecycles.
Indonesia’s large, affordable workforce makes it an attractive outsourcing destination for Western companies looking to manage digital products.

High Cost Regions Nuances & Regional Insights for Product Managers

COUNTRY
REGIONAL INSIGHTS
HIRING TRENDS
Switzerland
Switzerland is known for its high salaries and living standards. The demand for PMs is driven by the country’s strong financial services and healthcare sectors, which require PMs to manage highly regulated, complex products.
Swiss companies increasingly hire remote PMs from Eastern Europe or South Asia to manage costs while maintaining talent quality.
Saudi Arabia
Saudi Arabia’s Vision 2030 is driving demand for experienced PMs to oversee large-scale digital projects and infrastructure development. However, the local tech talent pool is limited, which inflates salaries.
Companies in Saudi Arabia often outsource PM roles to lower-cost regions, such as Eastern Europe or South Asia, to fill talent gaps.
Singapore
Singapore serves as Southeast Asia’s financial and tech hub, attracting top talent in sectors like fintech and digital products. The high demand for PMs, coupled with Singapore’s competitive market, leads to some of the highest salaries in the region.
To reduce costs while maintaining regional expertise, many companies choose to hire remote PMs from nearby countries such as Vietnam, the Philippines, or India.
USA
The USA, particularly Silicon Valley and other tech hubs, is home to many tech giants and startups that require highly skilled PMs. As a result, PM salaries in the US are among the highest globally. PMs here are tasked with overseeing complex and innovative product lifecycles.
Due to the high costs, many US companies outsource PM roles to low-cost regions like Latin America and India to manage product lines while saving significantly on salaries.
Canada
Canada’s tech sector is rapidly growing, especially in cities like Toronto and Vancouver. The demand for PMs is increasing as more companies focus on AI and fintech innovation. However, local salaries are rising, making it expensive for companies to hire domestically.
Canadian companies increasingly hire PMs from Latin America or Southeast Asia, benefiting from the cost savings and time zone compatibility.
UK & Ireland
London and Dublin are major global hubs for tech and finance, driving high demand for Product Managers, particularly in fintech and AI. The competitive job market and high living costs in these cities make salaries for PMs among the highest in Europe.
UK and Irish companies are outsourcing PM roles to Eastern Europe and South Asia to reduce costs while accessing a skilled talent pool.
Nordic (Denmark, Finland, Sweden, Norway)
Norway: Norway is heavily focused on green technology and renewable energy. PMs in Norway play crucial roles in managing these projects, especially for tech-driven sustainability initiatives. High living standards drive salaries up, making it a costly region for hiring.

Sweden: Sweden is known for its strong startup ecosystem, especially in fintech and SaaS. Stockholm, in particular, is a major tech hub. PMs in Sweden are tasked with overseeing large, innovative product portfolios. Salaries are high due to the strong demand for tech talent.

Denmark: Denmark focuses on sustainability, health tech, and software innovation. PMs here are often involved in managing e-commerce and green tech products. The high cost of living in Denmark makes PM roles quite expensive.

Finland: Finland’s tech industry focuses on healthcare and software. The country has a growing reputation for tech innovation, particularly in AI and health tech. PMs are in demand to manage product portfolios in these areas, and salaries reflect the region’s high living standards.
Nordic companies often look to hire remote PMs from Eastern Europe and Southeast Asia to lower their operational costs while maintaining quality, particularly for digital transformation and tech product management.
Japan
Japan is known for its mature corporate ecosystem, particularly in technology and manufacturing. However, Japan’s aging workforce and the shortage of local tech talent have increased the demand and salaries for PMs. The country’s tech industry is undergoing digital transformation, with PMs playing a critical role in leading this change.
To overcome the local talent shortage and reduce costs, Japanese companies often hire remote PMs from Southeast Asia, especially from countries like Vietnam and the Philippines, to manage tech and automotive product portfolios.

Data Sources:

  • Glassdoor: Regional salary data and benchmarks for Product Manager roles.
  • World Bank Data: Economic growth, employment patterns, and regional insights.
  • McKinsey: Insights into global workforce trends, digital transformation, and tech disruption.
  • LinkedIn Salary Insights: Comprehensive salary data for various regions and industries.

The salary comparisons highlight significant cost savings when hiring remotely from low-cost regions. Companies can hire skilled Product Managers from countries like India, Romania, Vietnam, and Latin America, while reducing costs by up to 70% when compared to hiring locally in high-cost regions such as Switzerland, USA, and the Nordic countries.

Disclaimer:

The salary estimates provided are median figures that may fluctuate based on company size, industry, and specific job requirements. This comparison serves as a financial overview for businesses evaluating potential savings from hiring in lower-cost regions.