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2020 Salary Guide & Insights - Product Management & Development

2020 Salary Guide & Insights - Product Management & Development

 

 30th June, 2020

Here at Parity Consulting, we have been providing detailed salary information to the Product, Marketing & Digital communities for the past 6 years. Our 2020 Product Management and Development Salary Guide & Insights is available to be downloaded below. A thorough and detailed 34-page report, it is our most comprehensive yet and covers topics such as:

 ● Salaries by title, seniority, industry and function

● Salary comparisons over the last 5 years by seniority and industry

● Predictions for growth areas

● Effects of COVID-19 on employees’ STI & LTI

● Tracking motivations to change roles

● How many of our community have been stood down, forced to take annual leave or a reduction inhours and/or pay.

These salary guides are complimentary to our Product, Marketing & Digital networks as part of our Parity Plus series which invests 10% of our profits each year back into initiatives which ‘add value’ to our community. Download your copy below!

Salaries over the last 5 years:

Below you will see a Product Manager’s salary across industries spanning 5 years. As you can see they have consistently stayed the same or slightly increased. Salary increases are often in line with regulatory pressure and changing market conditions. The full analysis can be accessed in our Salary Guide & Insights report.

Bonuses and Pay rises:
  • 35% did not receive a pay rise last year, compared to 21% in FY2018/2019.

  • 43% of participants felt they were being paid market rate while 34% said they did not feel like they were. 23% felt unsure.

  • Bonuses have decreased since FY2018/2019, across most  sectors. However, given the further pressure on costs since COVID-19 and the intense regulatory environment, we expect bonuses will decrease by at least 75% this year.

  • 7% of participants have a Long Term Incentive (LTI) component to their remuneration.

How has COVID-19 affected Product professionals?

Our results show that there are 4% more Product professionals passively or actively looking for a new role this year compared to last year. The increase is likely down to employees feeling the need to
passively search for a new role where they do not feel their role is secure.

  •  15% Asked to take annual leave

  • 10% Stood down or made redundant

  • 9% Saw an increased workload

  • Up to 40% were asked to reduce their pay by 20% - 29%

​Work From Home Productivity Rates During COVID-19:

Age and Demographics:
  • 51% held a Bachelors Degree or equivalent and 37% held a Masters Degree

To access the full copy of the 2020 Product Management and Development Salary Guide & Insights, simply fill in the form below and download a copy today. If you would like to discuss career opportunities or have a confidential conversation with one of our Specialist Consultants, please give us a call on + 61 2 8068 2016 or + 61 3 9016 8606. Follow us on LinkedIn to stay updated on the latest news and events!