Product Owner Career Path in 2024 [Roles, Salaries, & More]
Cloudwards.net may earn a small commission from some purchases made through our site. However, any earnings do not affect how we review services. Learn more about our editorial integrity and research process.
Working as a product owner is very rewarding. It gives you the opportunity to bring software products to life and satisfy the end user’s needs. What does the product owner career path look like, though, and how do you get there? We’ll explain all of this and more. Additionally, our article on how to prepare for product owner interviews will help you land your dream role.
Everyone has to start somewhere. This article will take you through everything from entry-level junior product owner positions to senior product owner roles. Keep in mind that a project owner is not the same as a product manager. People often confuse these two roles, but they are different. We’ll explain this in more detail later in the article.
If you’re looking for software to help you with product management, we have you covered. Our selection of the best project management software includes tools to help product owners do their best work alongside software development teams. Without further ado, let’s dive into the heart of the article and help you embark on your own project owner career path.
What Is a Product Owner?
A product owner works on a product and software development team and is responsible for relaying what the product should look like to the developers. A senior product owner will become a product expert, liaising with the end users to understand why they need the product and how it should function.
What Do Product Owners Do?
Product owners have multiple responsibilities. They mainly serve as a point of contact for the end user (the person/company that needs the product). Depending on the Scrum Master’s responsibilities, the product owner may also create the product backlog (the features the development team needs to create to build the product).
Other responsibilities include:
- Collecting information about the product from the end user
- Building a product roadmap
- Communicating the vision to the Scrum team
- Gathering contentious feedback from the end user
- Building a product strategy
- Attending daily feedback meetings
Product Owner Career Path
In this section, we’ll provide an outline of the trajectory you can expect to follow throughout your career as a product owner. We’ll also touch on other roles that a product owner can aspire to, giving you a clear idea of the paths your career could take.
Senior Product Owner
A senior product owner is responsible for taking control of the product and overseeing product development from start to finish. They are the senior point of contact for the end user and are expected to consistently provide updates about product development. This role also entails creating the product backlog, which is a to-do list of the tasks required to build the product.
Product owners are responsible for creating and refining the product backlog.
Other responsibilities include developing a strategic vision and creating a layout of everything that needs to happen to reach the end goal. More experienced product owners may be responsible for managing multiple products at once. In this case, they may be referred to as portfolio owners.
How Much Does a Product Owner Make?
The big question is how much money you can expect to make during your career as a product owner. Salaries will differ depending on the seniority of your position and how much experience you have as a product owner. Naturally, each company will have its own salary scale, but we can offer an idea of the annual salary range you can expect.
The average annual salary for a junior product owner is in the region of $82,000. Some companies may go as low as $64,000, while others may pay as much as $142,000.1 Those with more experience, like a chief product officer, can potentially earn up to $175,000 per year 2, with some larger companies offering in excess of $200,000.5
How to Become a Product Owner
Now that you’re of the product owner career path and the opportunities this role can offer, let’s look at some practical steps you can take to get started on your journey.
Is Product Owner a Good Career Path?
If you enjoy working with high-level stakeholders and want to help bring their products to life, then yes, being a product owner is a good career. This role will help you build your interpersonal skills by working with different teams and team members. It will also help you improve your analytical skills thanks to constantly monitoring the development of products.
You can develop a lucrative career as a product owner, with the potential to earn more than double the average salary in the United States ($60,000).3 Even entry-level positions have great earning potential.
On social media, those working within the industry speak highly of the product owner role. The community is especially supportive of new product owners, offering first-hand experience of the realities of the position. One user on Quora wrote, “Product Owner roles involve more potential pressure and longer hours tied to product success…”4
You’ll find plenty of perspectives on Reddit, too. Many POs enjoy the responsibilities of the role and take great satisfaction in “owning the product.” Others resent that some Scrum Masters add to their workloads by making them perform Scrum Master duties, and the number of daily standups and Scrum ceremonies can certainly add to the stress of the position.
Comparing it to the role of a product manager, one Quora user said, “Product owner is paid better and has better career progression.”4 Of course, salaries will differ depending on the company you work for.
Final Thoughts
Now that you have a clear idea of the steps you need to take to become a product owner, it’s time to go into the real world and take that first step. Building a product vision will no doubt be enjoyable, so make the most of your ambition to help customers access the best software products.
If you’re interested in the Scrum framework, take a look at our article explaining what Scrum is. We also have an article explaining what Agile is, which is useful if you want to learn more about the Agile process and the frameworks that exist within it.
Did you find this guide helpful? What has your journey as a product owner been like? What other career paths would you like us to break down? Let us know in the comments. Thanks for reading.
FAQ: Career Path for a Product Owner
-
Product ownership can be a very rewarding career for those who enjoy bringing products to life and satisfying the needs of the end user.
-
You can begin by obtaining Certified Scrum Product Owner (CSPO) certification, though this isn’t essential. You can also learn on the job by working as an administrative assistant on projects. If you gain enough knowledge, you can become a junior product owner and eventually a senior product owner.
-
Being a product owner opens the door to a fascinating career path. You can go on to become a senior product owner or a chief product officer, or create your own company to build products to release for commercial use.
Sources:
- Junior Product Owner Salary – Glassdoor
- Product Owner Salary – Glassdoor
- Average Salary By State – Forbes
- I recently switched from Project Manager to Product Owner in IT. Which one has a better career path and is paid better? – Quora
- Chief Product Officer Salary – Glassdoor
