If you’re looking for a jump start into the business world, but are unclear of what job pathway to take—then pursuing a career as a product manager may be worth considering.
The occupation is not only highly competitive but also highly sought-after thanks to the versatile skill set held by those in the field. Product management combines skills in areas like engineering, finance, marketing, and analytics.
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And because businesses are constantly looking for the best product, they only want the best product managers. This is potentially part of why product manager jobs are the most common job titles for graduates from nearly every top MBA program, according to LinkedIn. Moreover, the platform’s guide to becoming a product manager has garnered more than 400,000 learners in the last five years.
If you want to pursue project management as a career, here are 4 steps for you to follow and get started in the field:
1. Figure out if product management is for you
Product management is a field that is broad in nature. Product managers work with a product from end to end—from a simple idea, all the way to launch and beyond.
“A product manager is someone who typically tries to address problems faced by a group of people using a solution that can be monetized and that creates value for both its users and the business building the solution,” explains Axel Sooriah, a product management evangelist at Atlassian.
Oindrila Mandal, senior game product manager at Electronic Arts, adds that the ultimate goal is to make sure a product achieves market success.
“Product Managers define the product’s vision, strategy, and roadmap,” she says. “Product managers dive deep into user needs, prioritize features, monitor performance, and ensure customer satisfaction—all while aligning with business goals. In short, they wear many hats and play a crucial role in turning ideas into reality.”
But you should also not confuse the field with project managers. The latter focuses more on coordination and oversight, whereas product managers are tasked with development and release, according to Asana, a team management software that both product and project managers may use.
2. Get your degree
Despite a recent shift by many companies to a skills-based hiring approach, a bachelor’s degree remains the baseline for product manager careers. For those young in their education journey, studying fields like computer science, engineering, and/or business is a great approach. Having technical skills in areas like SQL and Python as well as softer skills like critical thinking and communication can be very resourceful.
Overall, Sooriah says he considered project management a craft—meaning something you learn through lived experienced. He adds that five skills that the best product managers have include being:
- A problem solver with monetization in mind
- A road-map creator
- A decision maker
- Communicator and influencer
- Adaptable
The educational backgrounds of many product managers is not alike; Mandal notes those who learned product skills in undergraduate can certainly land an associate or entry-level role straight out of college. For those who may be pivoting from another career may want to see a master’s in a STEM-related field.
“Product Management is a career that anyone can work toward,” Mandal says.
3. Gain experience via an internship or fellowship
Key to landing any role in being able to prove to a hiring manager that you have the real-world skills to excel as a product manager on day one. While the classes you may have taken during school will likely have included projects and other hands-on learning opportunities—having experience at a real company will help you—and your resume—stick out from the pack.
This is why seeking an interview or fellowship can be the right move in a product manager’s career (plus, it could also help you solidify whether you enjoy the career altogether). Start your research early. Internship application season for many top companies starts earlier than you may think. Plus, do not forget to utilize resources your university’s career services teams may have in terms of networking—there may be an opportunity for you to get ahead.
It is also important to be realistic with yourself. Even if you do not land an internship or eventually a job at your dream Fortune 500 company—the world is not over. In fact, it can be a blessing as you will be able to obtain the necessary experience in possibly a less competitive environment. Then, you can reach for the stars and upgrade your career over time.
4. Obtain an MBA—or just continue to learn
Product management is a field that is constantly evolving. New technology is bringing ways to make the end-to-end product process more efficient, and it’s up to you to stay ahead of the game—and other product managers.
Obtaining an MBA can be a great way to signal to employers your advanced skills in the business world—and your commitment to thinking critically. For some product manager job postings, an MBA is a preferred or even required qualification.
Mandal is an example. She is a computer engineer who later obtained her MBA—and she says many of her fellow product managers have similar backgrounds. However, again, not every candidate is the same, and you can certainly upskill in a variety of different ways from online certification programs to standalone courses on topics like AI, data analysis, and project management.
The takeaway
Let’s be honest: a lot of people, especially b-school grads, want to be product managers. So, if there’s anything you can do to help sell your case to employers, it is to make yourself stand out.
What makes you a better product manager than the next person? What unique skills and/or experiences do you bring to the table? Finding answers to these questions is paramount, and having degrees, real-world experiences, and continued learning opportunities to your name is a way to do it.
Sooriah says that individuals should always be looking at ways to grow—either at their own company or beyond. Being constantly knowledgeable and curious—with a growth mindset and sense of agency are keys to success.
Plus, having a well-defined storyline between your entire career and objectives can go a long way to ensuring you can have a life-long career as an exceptional manager of products. Use your resume, cover letters, and interviews to show your natural desire for curiosity and that you thrive on overseeing the end-to-end development of a product.
Frequently asked questions
What does it take to become a product manager?
Product managers have at least a bachelor’s degree as well as hard skills in engineering and business and soft skills in communication and collaboration. Individuals need to obtain real-world experience through a combination of in-class projects and outside work like an internship.
Is it hard to get into product management?
Product management does not have a large barrier to entry. Individuals generally need at least a bachelor’s degree in a related field of computer science, engineering, or business. For those later in their career, a master’s degree—such as an MBA or master’s in engineering can help boost your skills into a product management role.
Do product managers make money?
Product managers tend to make decent salaries. According to Glassdoor, the median total pay for a product manager is $196,000, but for entry-level positions, that may be more realistically lower than the six-figure range. One’s exact salary may differ based on location, experience level, and education.
What are product manager skills?
Product managers today must have a balance of technical know-how in areas like data analytics, UX/UI, Python, and SQL as well as soft skills like communication, collaboration, and negotiation.
Check out all of Fortune’s rankings of degree programs, and learn more about specific career paths.
