What is a product manager?
A product manager is like the glue that holds UX, tech, and business together. They make sure to launch features that are helpful for the business and the users. Their job is to think about things like tech costs and decide which features to prioritise.
Product managers also help bring the whole team together and keep an eye on the business side of things, like how much money a feature can make. They are essential for the success of tech products.
The average salary for a product manager in Germany is €66,000
Product managers in Germany earn an average salary of €66,000 per year or around €5,500 per month. This figure includes all additional pay such as cash bonus, commission, tips, and profit sharing. Since product managers directly shape the product, they generally receive equity and bonuses of an average of €5,000 per year.
If you are earning less than the average it might be time to ask for a raise or start looking for a new job!
Salary by experience
Here's a simple breakdown of salaries based on experience for product managers: If you're just starting out as a junior product manager (0-1 years experience), you can expect to make around €51,000 in Germany. As you gain experience and become a regular product manager, your salary will likely go up to around €66,000. When you reach the senior product manager level, you'll see a nice bump in pay to about €93,750. And if you become a lead product manager, you can earn even more, with an average salary of €97,000.
Taxes in Germany
When figuring out your take-home pay in Germany, think about where you live, your job experience, your role, and your tech skills. You can use the German tax brackets (below) or a tax calculator to get a rough idea of your monthly earnings after taxes.
For example, if you live in Germany and make €66,000 a year (that's €5,500 a month), you'll have €25,371 taken out for taxes and other deductions. That leaves you with a net income of €40,629 per year, €3,386 per month, or €781 per week.
German tax brackets
Average salary by city
The salaries for product managers in various German cities show some differences based on location. In Berlin and Hamburg, product managers earn similar annual salaries of €65,000 and €65,205, respectively. Munich and Frankfurt offer higher salaries, with both cities averaging €74,000 per year. Stuttgart takes the lead with an average annual salary of €75,000, while product managers in Düsseldorf earn a slightly lower average of €73,000 per year.
The differences in product manager salaries across various German cities could be attributed to several factors. One potential explanation is the cost of living, which varies significantly between cities. Munich, Frankfurt, and Stuttgart are known for their higher living costs, which may lead to increased salary demands to maintain a comfortable lifestyle.
Median salary by country
When we consider the median product manager salaries across the biggest markets there are considerable variations. In Germany, the median salary stands at $74,600, while in the United Kingdom, it is higher at $90,500. The United States boasts the highest median salary of $155,000. Conversely, India presents a significantly lower figure at $24,700. Canada offers a competitive median salary of $93,700. Taking all these countries into consideration, the overall median salary for product managers amounts to $76,800.
Salary by Company
It looks like product managers in aerospace and tech tend to earn the most. For instance, Airbus (aerospace) offers a top salary of €94,000, and SAP (tech) isn't far behind at €90,000. Industries like fashion and construction generally pay lower salaries. For example, Adidas (fashion and sportswear) pays €65,000, while Drees & Sommer (construction and real estate consulting) has the lowest salary at €60,000.
Fair and transparent salaries
Transparent pay makes job search much easier — it lets you know what to expect and helps you save time and energy when comparing jobs. Plus, knowing how much a job pays can help you negotiate better. By leaving a salary review you'll help others make smarter choices during their job hunt and make the job market more open and fair for everyone. If you are making more or less than the average product manager's salary, we encourage you to leave a company review to give other product managers a heads-up 😊