- Product managers play a central role in enterprise tech, and typically take the lead in planning, troubleshooting and rolling out new products.
- Their job has evolved dramatically with the rapid growth of cloud computing, and the emergence of new technologies, such as AI and big data.
- Here's how much Oracle, Cisco, SAP, Workday, ServiceNow and VMware pay product managers, based on disclosure data for permanent and temporary workers filed with the US Office of Foreign Labor Certification in 2019.
- Click here for more BI Prime stories.
Product managers play such an important role in tech that Silicon Valley investor Ben Horowitz once argued that "a good product manager is the CEO of the product."
The statement sparked some debate, although there's little disagreement about the importance of product managers in the technology industry.
Product managers are deeply involved in pretty much every key step in rolling out a new product, from the planning to troubleshooting to figuring out how to get customers to buy it.
The job has become even more critical in the enterprise tech market which is undergoing a dramatic transformation with the rise of the cloud, and the emergence of cutting edge technologies, including AI and big data analytics.
"In today's era, the product manager job is more critical than ever," IDC President Crawford Del Prete told Business Insider. "The function of managing the product development, delivery and support is critical in today's market."
He cited the rise of "as a service" products which allow businesses to access different tools, including applications, data storage and even platforms, based on a subscription or on usage. It's a system that typically features "a steady stream" of products and features, instead of "big version announcements" which requires product managers to be more nimble and to have a clearer sense of product roadmaps, he said.
The product manager's job is expected to become even more challenging in a work from home economy, Eric Hunter, a senior director at Gartner, said. More businesses are looking to set up their networks in the cloud, even as they require more and new tools to manage a remote workforce.
"Product managers have significantly adapted how they manage their strategic roadmaps and in how they relate with delivery teams as a result of the cloud," he told Business Insider. "COVID requires product managers to be even more effective leaders."
That's why it's not at all surprising that product managers are among the top paying roles in tech.
Business Insider analyzed the US Office of Foreign Labor Certification's 2020 disclosure data for permanent and temporary foreign workers to find out what five major enterprise-tech giants — Oracle, Cisco, VMware, SAP and Workday — pay product managers.
Companies are required to disclose information such as salary ranges when they hire foreign workers under the H-1B visa program, giving insight into what these major companies are willing to shell out for talent. Note that for some positions, the companies involved only gave salary ranges, rather than specific figures.
Here's how much these top enterprise-technology companies paid product managers hired in 2020:
Cisco hired a product manager in North Carolina with a salary in the range of $116,000 to $138,000.
Cisco, the dominant vendor for networking equipment, is one of the traditional enterprise tech vendors that is adapting to the cloud.
The company got a boost from the coronavirus crisis and the sudden pivot to remote work given the need for secure, reliable networking systems. But Cisco recently warned that it is bracing itself for more uncertainty in the enterprise market, especially small and medium-sized businesses. The company said it plans to cut more than $1 billion in costs.
Cisco has continued to hire, and recently brought in more than two dozen product managers.
Here are some of Cisco's recent product manager hires based on 695 approved visa applications and how much they're paid:
Product manager (California): $170,000 to $234,000
Product manager (Washington): $192,000 to $212,000
Product manager (Texas): $165,000 to $193,000
Product manager (Georgia): $112,000 to $150,000
Product manager (North Carolina): $116,00 to $138,000
Oracle hired a product manager in Florida with a salary in the range of $79,000 to $212,000.
Oracle is making an aggressive bid to become a stronger player in the cloud, where it lags rivals led by Amazon Web Services, Microsoft and Google.
The Silicon Valley recently filled at least three product manager positions in Florida, Washington and Texas.
Here are some of Oracle's recent product manager hires from 452 approved visa applications, and how much they're paid:
Product manager, strategy and development (Florida): $79,000 to $212,000
Product manager, strategy and development (Washington): $153,000 to $189,000
Product manager, strategy and development (Texas): $124,000 to $179,000
SAP hired a product manager in California with a salary range of $177,000 to $300,000.
SAP is one of the top enterprise software vendors in the world. Like other traditional enterprise software companies, the German tech giant has been pushing to strengthen its position in the cloud market.
The company filled at least two key product manager roles, according to the data.
Here are SAP's recent product manager hires based on 393 approved visa applications and how much they're paid:
Product manager (California): $177,000 to $300,000
Product manager (California): $138,000
Workday hired a principal product manager with a salary in the $154,000 to $232,000 range.
Workday's platform enables businesses to manage their finances and human resources. The Pleasanton, California-based company is considered one of the pioneers of cloud computing,
It made at least two product manager hires, both in California.
Workday is a major cloud player whose platform enables businesses to manage company finances and human resources.
Here are some of Workday's recent hires based on 117 approved visa applications and how much they're paid:
Principal product manager (California): $154,000 to $232,000
Technical product manager/API platform (California): $116,000 to $174,000
ServiceNow hired a senior principal product manager in Washington with a salary of $189,000.
ServiceNow is another cloud computing pioneer whose platform enables businesses to automate and manage their workflow.
The company recently filled at least eight product manager jobs in California, Illinois and Washington.
Here are some of ServiceNow's recent hires based on 225 approved visa applications and how much they're paid:
Technical product manager (California): $147,000 to $170,000
Senior product manager, platform (Illinois): $92,000 to $140,000
Principal product manager (California): $138,000
Principal product manager, outbound legal (California): $160,000
Senior principal product manager (Washington): $189,000
VMware hired a senior technical product manager in California with a salary of $214,000.
VMware blazed the trail in virtualization, or software that lets businesses tap disparate computer systems as one network, which has been an important technology in cloud computing.
The tech giant has filled more than dozen product manager roles recently, mostly in California.
Here some of VMware's recent product manager hires from 717 approved visa applications and how much they're paid:
Senior technical product manager (California): $214,000
Senior technical product manager (California): $189,000
Senior product manager (California): $195,000
Senior product manager (New York): $155,000
Senior product manager (California): $153,000
Senior product manager (Georgia): $122,000
Product manager (California): $120,000
Product manager (Georgia): $113,000
Product manager (Georgia): $105,000
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