While coding skills can be helpful for product managers, they are not always required. When working in tech industries, product managers should have a strong understanding of technology and how it relates to their products, but they do not necessarily need to be able to code themselves. But, since product managers can work across many industries, this is not a skill that is required across the board.
Product manager education
Learn about the educational requirements, skills, and experience needed to succeed as a product manager.
What degree do I need to become a product manager?
Product management is critical for overseeing new product development. Product managers need strong leadership, communication, and problem-solving skills to identify market opportunities, develop strategies, and collaborate with cross-functional teams. Practical skills and experience are important in this field, but pursuing your education and earning the right degree can be invaluable.
When deciding on your educational path, consider your personal goals, interests, and circumstances. Continuous learning and staying up to date with industry trends and best practices are crucial for success in product management.
The role of a product manager
Product managers oversee new product development and launch. They differ from project managers in that they are responsible for the entire life cycle of a product. Product managers need strong leadership, communication, problem-solving, and technical skills. Key skills involve:
- Identifying market opportunities and developing product strategies
- Collaborating with cross-functional teams, including engineers, designers, and marketers
- Leading and motivating teams
- Communicating effectively with stakeholders at all levels of the organization
- Using data to inform product decisions and measure success
Educational requirements for product managers
Product managers commonly have degrees in business, engineering, computer science, or other technology-related fields. An MBA is a popular degree choice for product management positions, providing learners with a broad range of business skills, but a Master of Product Management (MSPM) can develop an even more specific set of skills.
The MSPM focuses specifically on product management, including project planning, execution, monitoring, and control. Its courses cover scheduling, risk management, quality management, and project control. Thus, it prepares students to manage complex projects in various industries.
The importance of real-world experience
Gaining relevant experience is essential. Look for opportunities in a variety of ways:
- Education: Most online programs offer practical experience through capstone projects, case studies, and networking opportunities
- Entrepreneurship: Lead your own venture. Learn product development, marketing, and financial management while displaying resourcefulness and adaptability
- Internships: Internships help you gain hands-on experience while developing market research, product development, leadership, and communication skills
- Employment: In your current job, proactively showcase your PM skillset on everyday projects
Soft skills to own or hone
Soft skills are also important. Aspiring product managers should focus on developing a diverse set of skills and gaining relevant work experience.
- Communication: Product managers must be able to communicate effectively with team members, stakeholders, and customers.
- Collaboration: Product managers must be able to work collaboratively with cross-functional teams, including designers, developers, and marketers.
- Problem-solving: Product managers should have excellent problem-solving skills to identify and address issues that arise during the product development process.
- Strategic thinking: Product managers should have strong strategic thinking skills to develop a clear vision for the product and plan for its success.
- Creativity: Product managers should have creativity to come up with innovative ideas and solutions to problems.
- Decision-making: They should have strong decision-making skills to make informed decisions about the product's direction and features.
- Leadership: They should have strong leadership skills to guide the team towards achieving the product goals.
- Adaptability: They should be adaptable and flexible in responding to changes in the market or customer needs.
- Time management: They should be able to manage their time effectively to meet deadlines and ensure the project is completed on time.
- Empathy: They should have empathy towards customers to understand their needs and create products that meet those needs.
Alternative paths to product management
While many product managers have traditional educational backgrounds in business, engineering, or computer science, there are also non-traditional routes to becoming a product manager.
If you have a defined skill set that leans into product management, you can look for ways to make the transition from other roles within your current company. You can also look to build your skill set by pursuing professional certifications and taking online courses. Successful product managers who have taken alternative paths to their careers demonstrate that diverse backgrounds and experiences can be valuable assets in this role.
Making the right choice for you
There are many paths to becoming a product manager. Whether you have a traditional educational background or not, consider your personal goals, interests, and circumstances when deciding on your educational path. Continuous learning and staying up-to-date with industry trends are crucial for success in this field.
To explore your options further, check out relevant articles, books, or online communities. If you're interested in pursuing a career in product management and are thinking about a degree, speak with our enrollment advisors to learn more about how we can help you achieve your goals.
FAQs
Successful product managers play a crucial role in driving the success of a company's products and are often highly valued by their employers. Building a resume of quality experience and expanding your education with a Master of Product Management can set you up for success and help you stand out in any pool of applicants. Multiple sources list the salary range as wide as from $88,000 to $200,000. ZipRecruiter reports that product managers earn an average salary of $159,405. So it's clear that the salary can depend on your location, the industry you work in, experience, and job performance.
Many universities offer degree programs in product management or related fields such as business, engineering, or computer science. Additionally, you can find shorter courses and certifications across multiple online platforms. Speak with one of our enrollment advisors to learn more about your educational opportunities.