Product managers work with business, tech, and user experience (UX) teams to develop products that deliver value and drive sales. The arrival of artificial intelligence has presented exciting opportunities for product managers to leverage their capabilities by streamlining tasks and gathering valuable insights from available data.
With companies eager to employ AI in their product offerings to stay competitive, product managers with AI expertise are in high demand and command high salaries.
The article looks at various aspects of AI/ML product manager salary.
First, we will look at the skills of an AI/ML product manager. Subsequently, we will highlight the factors influencing the average salary of AI PMs and the entry-level AI product manager salary.
Skills Required by AI/ML Product ManagersÂ
Specific technical and communication skills are required to succeed as an AI/ML product manager:
- Deep knowledge of machine learning and artificial intelligence models.
- Sound understanding of programming languages that developers use to build AI/ML products.
- Knowledge of data visualization tools and techniques.
- Understanding of ethical aspects related to data handling and management.
- Skills that exhibit responsiveness, versatility, and leadership.
- Effective decision-making and planning skills that lead to product growth.
- Strong communication and organizational skills.
- Ability to design AI products that provide desired user experience
- Effective collaboration skills to engage with data scientists, ML engineers, UI/UX designers, etc.
- Strong knowledge of how to market, brand, and launch a product.
- Comprehensive understanding of the AI Product Lifecycle.
Also read: Mastering Product Manager Interviews
AI/ML Product Manager Salary in the USA: Key Considerations
Owing to the unique skill sets they bring to the table, the AI/ML product managers are in high demand:
According to Glassdoor.com, the average AI Product Manager salary in the USA is $244,774 per annum with an average base pay of $151,772 per annum and additional compensation of $93,002 per annum.
Additional pay estimates include bonus, cash compensation and profit sharing as reported by over 150 anonymous AI/ML product managers to Glassdoor.com.
According to Indeed.com, the average salary for AI/PM is $175,069 per annum with a low of $150,116 and a high of $204,169.
According to Payscale.com, the average base salary of a Product Manager with AI skills is $155,765 per annum, ranging from $126,000 to 185.000. The bonus is $6,000 to $43,000. Profit sharing is up to $11,000.
Profit sharing of AI product managers comes in the form of incentives. However, considering the type of work, base salaries, additional compensation, and bonuses form the major portion of the AI PM salary.â€
The salaries of AI/ML product managers depend on various factors including experience, local employment market, and region of operation.
Please note: Salary and compensation data is accurate till the time of writing this article and may change at any time after the publication of this information piece.â€
Also read: Must-Know Product Manager Interview Questions to Crack FAANG Interviews
AI/ML Product Manager Salary in the USA: Key Factors
By Experience
AI/ML product management is a lucrative and fulfilling career path. Seniority is an important factor in determining the salaries in any discipline. The same applies to the position of AI/ML product manager.
A college graduate can join as an Associate Product Manager (APM) or Entry-Level Product Manager in an organization. However, hiring managers also want candidates to have 1-2 years of industry experience for the APM position.
Estimated Entry-Level Product Manager Salary in the USA is $1,43,273 per annum. The average base salary of AI PMs is $93,718 per annum. The estimated additional pay is $49,555 per annum. Additional pay may include cash bonus, commission, tips, and profit sharing.
For the Product Manager role, candidates must have at least 3-5 years of experience at the position of Associate Product Manager.
AI Product Manager (PM) Salary based on years of experience
Source: Glassdoor.com, June 2024
â€By Location
Factors such as the demand and supply quotient of AI PMs in the area, as well as the cost of living in that particular city, contribute significantly to the AI/ML product manager’s salary.
For instance, the product manager in Silicon Valley will earn more than the product manager in San Antonio, Texas because the cost of living in Silicon Valley is more than in San Antonio, Texas. Median AI Product Manager salary is $1,35,071 per annum. However, AI Product Manager earns much higher in San Francisco, California.
The salaries of seasoned product managers in the East and the West Coast of the USA are much higher than in other parts of the country because of their higher demand in the area.
Also Read: Salary Negotiation Tips: What Not to Do During Salary Negotiationâ€
AI/ML Product Manager Salary in the USA: Vs General Product Manager Salary
AI/ML Product Manager Salary in the USA is more than General Product Manager Salary because of the enhanced skill sets the AI Product Manager has on offer.
For instance, general product managers will not be required to have knowledge about AI topics like data science or machine learning algorithms in the same manner as AI product managers.
The average salary of a general product manager is $116,000, which is much lower than the average salary of AI PM (Product Manager). As per estimates, the general product manager’s salary is 15% to 20% less than AI product manager’s salary.
This is because the role of AI Product Manager is much more in demand due to companies’ increased reliance on data generated through artificial intelligence.
Also read: Product Manager Interview Process and Preparationâ€
AI/ML Product Manager Salary: Companies
Now let’s look at the AI product manager salaries across different companies and government establishments in the USA.
â€Source: Glassdoor, June 2024
Learn AI With Interview Kickstart
Interview Kickstart offers several courses for candidates seeking a switch to a highly rewarding career in AI.
Interview Kickstart’s data science course covers all basic and advanced data science concepts. In addition to theoretical learning, candidates are also required to undertake Capstone projects providing them with hands-on experience for real-world data science challenges.
If you are planning to take up the role of a machine learning engineer, opt for a comprehensive machine learning course offered by Interview Kickstart. This course covers everything from fundamental concepts to advanced machine-learning techniques.
To gain comprehensive understanding of how to deploy large scale machine learning models, one can opt for IK’s MLOps Training course.
Career aspirants seeking an in-depth understanding of Gen AI can opt for IK’s Applied Gen AI course, which provides a conceptual understanding of Generative AI and guides them to build and train applications with large language models (LLMs).
Once the candidates have gained enough experience in the Gen AI domain, they can enroll in an Advanced Gen AI course to further enhance their skills.
All these courses offer comprehensive training from instructors who themselves are tech leads and hiring managers at top-tier IT companies, making them ideal tech interview prep courses for any AI/ML aspirant.
You can also read the Interview Kickstart Reviews to get an idea of how IK has helped professionals acquire high-paying jobs in the AI/ML space.
Wrapping It Up
The AI PM Salary of $900K offered by Netflix in 2023 has been arguably the highest offered by any government or private establishment to date.
AI Product Manager is a relatively new role and it demands a unique combination of skills and experience.
AI Product Managers should have complete knowledge of the business they are serving, along with deep understanding of all artificial intelligence concepts. They should also possess the skills to communicate information about technical aspects of the product even to non-technical stakeholders.â€
FAQs: AI/ML Product Manager Salary
What Does An AI Product Manager Do?
AI Product Manager works at the intersection of business, technology and user experience in which they coordinate with cross-functional teams to curate and develop AI-driven products.â€
Can AI Replace A Product Manager?
AI can never replace a product manager. On the contrary, AI is here to make the lives easier for product managers by offering valuable product-centric insights freeing up their time to focus more creative product management work.
Name A Few Tools AI Product Managers Can Use?
A few tools AI product managers can use are Jam, ChatGPT/Gemini, Mixpanel, Canva and Otter.AI.
How To Become An AI Product Manager With No Experience?
Here are the steps to follow to become an AI Product Manager:
Step 1: Learn fundamentals of product management
Step 2: Get certified in technical product management
Step 3: Get certified in artificial intelligence
Step 4: Gain hands-on project experience
Related Articles:
