Product Manager VS Product Owner’s Differences In Responsibilities, Hierarchy, and Salary
Summary
TLDRIn this informative video, Dr. Nancy, a director product from doctornancy.com, explains the distinctions between product managers and product owners, focusing on hierarchy, responsibilities, and salary differences. She outlines the career progression and clarifies the varying titles across companies like Microsoft, Google, and Facebook. Dr. Nancy provides insights into the roles and responsibilities of each, emphasizing the product owner's focus on delivering value and the product manager's broader scope, including team leadership and business strategy. She also discusses salary expectations and offers advice on choosing between job offers, highlighting the importance of negotiation and company culture over salary alone.
Takeaways
- 📈 The hierarchy in product management roles typically goes from Product Owner to Product Manager and up to Chief Product Officer.
- 🔍 There's often confusion between the roles of Product Manager and Product Owner due to varying titles across companies.
- 🏢 Companies like Microsoft do not use the title 'Product Owner', whereas others like Google or Facebook do, indicating the need to understand the specific role within each company's context.
- 🛠 The Product Owner's role in agile development is critical, focusing on delivering the most value to the business and managing the product backlog.
- 📝 Product Owners have five main responsibilities including managing the product backlog, prioritizing user stories, managing product releases, managing stakeholder expectations, and leading the engineering team.
- 🚀 Product Managers have a broader scope of responsibilities, including setting the vision, managing the product roadmap, prioritizing features, managing business aspects, and handling both internal and external stakeholders.
- 💰 The salary difference between Product Managers and Product Owners is not significant, but Product Managers generally earn about 10% more.
- 💼 The base salary for a Product Manager in the San Francisco area is around $140,000 per year, while a Product Owner's base salary is about $127,000 per year, excluding stock options and equity.
- 📈 Stock options can significantly increase the total compensation, especially at big tech companies like Google and Amazon.
- 🤝 When choosing between offers, consider the role's potential for growth, team culture, and product alignment rather than just the salary.
- 📚 Dr. Nancy provides resources such as a salary cheat sheet and webinars to help aspiring product managers and product owners understand their career paths and negotiate better offers.
Q & A
What is the main topic of the video?
-The main topic of the video is to explain the differences between the roles of a product manager and a product owner, including hierarchy, responsibilities, and salary differences.
Who is the speaker in the video?
-The speaker in the video is Dr. Nancy, a director product from doctornancy.com who helps people transition to product management roles.
What is the significance of the title 'Product Owner' in the hierarchy of product management roles?
-The title 'Product Owner' is typically at the lower end of the hierarchy, with roles like Product Manager, Senior Product Manager, and Chief Product Officer above it.
According to the video, how does the title 'Product Owner' vary across different companies?
-The title 'Product Owner' can vary significantly across companies. For instance, Microsoft does not use this title, while Google or Facebook might use it for similar roles that Microsoft would call a Product Manager.
What are the key responsibilities of a Product Owner in the Agile development process?
-Key responsibilities of a Product Owner include managing the product backlog, prioritizing user stories, managing the release of product features, managing stakeholder expectations, and leading the engineering team to execute on the product vision.
What are the five main responsibilities of a Product Manager as outlined in the video?
-The five main responsibilities of a Product Manager are: defining the why, what, and when to launch a product; managing the product roadmap; prioritizing product features and user stories; managing a wider business aspect of product management; and managing both internal and external stakeholders.
How does the video suggest one should approach a job offer as a Product Owner versus a Product Manager?
-The video suggests that one should not focus on the salary differences as a deal breaker but rather on how to negotiate a higher salary and getting a better offer in a good company. It also recommends considering the Product Owner role as an entry-level position to product management career paths.
What is the general salary difference between a Product Manager and a Product Owner according to the video?
-The video states that Product Managers generally earn about 10% more than Product Owners, with specific examples given for the San Francisco area.
What additional compensation can be expected beyond the base salary for these roles, as mentioned in the video?
-In addition to the base salary, compensation can include stock options and equity, which can significantly increase total earnings, especially at large tech companies like Google and Amazon.
How can viewers learn more about becoming a Product Manager or Product Owner?
-Viewers can subscribe to Dr. Nancy's channel, hit the bell button for notifications, and check out the linked videos and resources in the description for more information on career paths, salary details, and negotiation tips.
What is the role of the 'scrum master' in the Agile development process mentioned in the video?
-While not the main focus of the video, the scrum master is one of the three key roles in the Agile development process, working closely with the Product Owner and developers to facilitate the process and remove any impediments.
Outlines
📚 Understanding Product Manager vs. Product Owner Roles
In this introductory paragraph, Nancy, a product management expert, introduces the topic of the video, which is to clarify the differences between the roles of product managers and product owners. She mentions her own background as a product manager and owner and highlights the confusion that arises from the varying job titles in different companies. Nancy outlines a methodology to understand the hierarchy differences, responsibilities, and salary disparities between the two roles. She also shares her excitement about returning from maternity leave and encourages viewers to subscribe for more insights on transitioning to a product management career.
🔍 Exploring the Differences in Hierarchy and Responsibilities
This paragraph delves into the hierarchical differences between product managers and product owners, with the product owner typically being at the lower end of the management career ladder. Nancy provides a general hierarchy of product management titles and explains that the titles can vary significantly between companies, such as Microsoft, Google, and Facebook. She emphasizes the importance of mastering the skills of a product owner to succeed in the role and progress in one's career. Nancy also discusses the specific responsibilities of a product owner within the agile development process, including managing the product backlog, prioritizing user stories, managing product releases, managing stakeholder expectations, and leading the engineering team to execute the product vision.
💼 Product Manager's Broader Scope of Responsibilities
In contrast to the product owner's role, the product manager is responsible for guiding a product to success by leading a cross-functional team and improving product features. Nancy lists five key responsibilities of a product manager: setting the vision and leading the team, managing the product roadmap, prioritizing product features and user stories, managing the wider business aspects of product management including sales, marketing, pricing, and market research, and managing both internal and external stakeholders. She also mentions that product managers may be responsible for customer demos and training sales and engineering teams, which is a role not typically assigned to product owners.
💰 Salary Differences and Offer Decision Factors
Nancy addresses the salary differences between product managers and product owners, noting that product managers generally earn about 10% more than product owners. She provides specific examples of base salaries for both roles in the San Francisco area and mentions that additional compensation can come in the form of stock options and equity, especially at large tech companies. Nancy advises viewers not to consider the salary difference as a deal breaker and instead focus on negotiating a better offer and choosing the right company. She also provides guidance on choosing between a product manager and product owner offer, suggesting that the product owner role can be an entry-level stepping stone to a product management career, while the product manager role may be preferable if the team culture and product align with one's interests.
Mindmap
Keywords
💡Product Manager
💡Product Owner
💡Agile
💡Hierarchy
💡Responsibilities
💡Salary
💡Product Backlog
💡Stakeholders
💡User Stories
💡Product Vision
Highlights
Differences between product managers and product owners are discussed in terms of hierarchy, responsibilities, and salary.
Product owner is typically at a lower level in the management hierarchy compared to a product manager.
Some companies merge the roles of product manager and product owner under the title 'product owner'.
Product managers are expected to master the skills of a product owner to succeed in their career.
The video provides a detailed career path for product managers from entry-level to chief product officer.
Product owners have specific responsibilities within the agile development process, including managing the product backlog and stakeholders' needs.
Product managers have a broader scope of responsibilities, including guiding a product to success and managing the product roadmap.
Product managers work with sales, marketing, and other teams to launch and sell the product, a role not typically assigned to product owners.
Salary differences between product managers and product owners are not significant, with product managers generally earning about 10% more.
In the San Francisco area, the base salary for a product manager is around $140,000 per year, compared to $127,000 for a product owner.
Stock options and equity can significantly increase the total compensation, especially at large tech companies.
Salary should not be the sole deciding factor when choosing between a product manager and product owner role.
Negotiation skills are crucial for securing a higher salary and better offer, regardless of the role.
For entry-level positions, a product owner role can be an excellent starting point for a career in product management.
The video offers a free webinar on how to land a product management job and an accelerator program for aspiring product managers.
The speaker, Dr. Nancy, provides actionable advice for aspiring product managers and owners on packaging their experience.
The video concludes with an invitation for viewers to engage with the content by liking, commenting, and subscribing.
Transcripts
hi i'm nancy what do you do for work i
am a product manager i am a product
owner
[Music]
you must have seen the job openings
between product managers and product
owner you're quite confused what are the
differences between those two roles and
which offer should you choose
in this video i'm going to share with
you what are the differences between
product managers and product owners in
terms of the hierarchy responsibilities
and the salary differences make sure to
stay until the end of this video i'm
going to share with you the secret
salary differences between these two
rows and it's also the first video i
filmed since i'm returning from the
maternity leave i'm very excited to come
back let's get started
[Music]
hey guys this is doctor city a director
product from doctornancy.com
i help people transition from worker bee
to product manager and business leader
if you want to learn the most effective
way to become a product manager please
subscribe to channel hit the bell button
so be notified every time i post a new
video every wednesday recently a loss of
student life got offers as product
manager and product owner they use the
following methodology to understand
their differences and help them to make
decisions on which offer to accept step
number one you need to understand the
hierarchy differences between product
manager and product owner generally
speaking product owner is at the end of
the totem pole
if you line up all the different titles
of the management career
it looks like this product owner put a
manager senior product manager
group product manager direct product vp
of product or chief product officer if a
company gives you a title as product
owner and they also give another person
title as a product manager it's very
likely
product managers will manage the product
owner or mentor the product owners for
some companies they don't have
those two titles they merge both of them
into the same title which is product
owner in that case you need to play the
both role of plant owner and product
manager for your current company the
title in different companies are very
confusing let me give you some examples
it really varies based on each company
in microsoft
they do not have a product owner title
and their entry-level product manager
are considered as product manager
however the same type of people if you
get a job in google or facebook their
title will be as associated product
manager for some other companies if your
entry-level product manager they might
give you a title as product owner
however those roles are very
transferable if you're a manager you
really need to master the skills as
owner in order to succeed in copper
america and continue climb up your
career ladder
if you want to understand the in-depth
description of different
career paths of product managers please
make sure to check out this video where
i describe in details what are the roles
and responsibilities and title
differences that's coming from the
entry-level product manager all the way
to the cheap product officer i'm going
to link the video in the description of
this video number two product owner and
product manager have different
responsibilities in general product
manager has a bigger scope of
responsibility their differences are
mainly laid within
three aspects they are the size of the
team the scope of work and the business
impact now let's learn about the
responsibilities as a product owner
product owner is a term that's invented
in the agile product management
development process in the agile process
there are three key people product owner
scrum master and the developers they are
inside of the golden triangle and their
relationship is very critical with each
other it is the responsibility of the
product owner to ensure that they are
delivering the most value the business
is represented by the product owner who
tells developers what is important to
deliver and the trust between these two
parties are very critical and there are
five different kind of responsibilities
that per owners need to do number one
manage product backlog and stakeholders
needs put a backlog in specific term
inside of the scrum and the spring
process you can learn more about the
agile product development in my upcoming
video number two product owner
prioritize user stories instagram number
three product owners manage the release
of product features through the
end-to-end process to make sure it's
delivered on time and on quality number
four product owner manage the
stakeholder expectations number five pro
owner leads the engineering team to
execute on the product vision on the
other hand the product manager is
responsible for guiding a product to
success they lead a cross-functional
team that works on a product and improve
its features product managers also have
the following five responsibilities
number one the manager disguise the why
and what and when to launch a product
from concept to execution
they set the vision of the team and lead
the whole team to execute on the grand
vision number two product manager manage
the product role map from success
product launch so the mainly responsible
for understanding the concept and
involving with the business and
technical part until the end to end
product
launch and bring it to the hands of
customers number three product manager
also prioritize product features and
user stories this is very similar
responsibilities as a product owner
number four product manager manage a
much wider business aspect of product
management for example product manager
will work with sales and marketing team
to launch and sell the product it will
also design the pricing model business
model it will also conduct market
research and competitive analysis number
five product manager manage both the
internal and external stakeholders
especially from the external stakeholder
aspect product managers are responsible
for managing the relationship with
customers maybe do some
customer demos and also train the sales
and engineering team to sell the product
to customers this is mainly lacking in
the product owner's responsibilities by
now you must be excited about the
product owners and per management role
if you want to know how to best package
your prior experience and turn into a
product manager and pro owner resume
feel free to
the downl sheet in the description of
this video
number three let's also talk about money
the salary differences between product
owner and product manager is not
significant but it's very obvious per
manager in general are getting paid
about 10 higher than the product owner
which is very similar to what i
described earlier that product owner is
an old lower part of totem pool compared
with the product manager let me give you
some specific examples if you look up
the general product manager salary in
san francisco area the manager base
salary is about 140 000 dollars per year
and the product owner's base area is
about 127 thousand dollars per year and
this salary doesn't include the stake
the stock options and equity to be
honest if you work for google and amazon
those big tech companies the stock
option is going to make sure your salary
is going to double or go through the
roof as a parameter sometimes your
salary can go all the way up to half
million dollars i made a specific video
telling you the detailed examples what
absolute differences
at different levels of product
management and what the differences
between different locations and
different companies in terms of fan
companies and the startup unicorn feel
free to check out this video and
download the salary cheat sheet in the
description of the video
now let's also think about which offer
would you choose if you get both per
manager and product owner offer here's
the thing i wouldn't see the big salary
differences as a deal breaker because if
i were you i would focus on how can i
negotiate higher salary and getting a
better offer in better company i
published many negotiation videos you
can check out those videos right here
which helps hundreds per manager to get
higher salaries over there now if you
have both offers i would really take
consider product owner as an entry level
to plan management career paths if
you're able to land the product manager
title with very good team culture and
you love the kind of product you're
going to build i will definitely take
the product manager offer of course
product owner offer is also something i
highly recommend for the entry-level
product management positions so that you
can kick off your product management
career very quickly if you have made the
decision to become a product manager or
product owner you should check out this
free webinar where i teach you how to
land a product managed job very quickly
and on top of that learn about the
product manager accelerator where i have
helped hundreds supply managers to land
their dream job in the tech industry i'm
going to link the webinar in the
description of this video if you want to
continue to inspire more managers please
make sure to like and comment on this
video so that more aspiring product
manager will be able to hear about this
organic content this is dr nancy i'm
going to see you next time bye
[Music]
you
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