In 2024, AI Product Manager is one of the hottest job positions in the tech industry. This is visible in the lucrative AI Product Manager salary. AI Product Managers in the US earn at least $150,000, even if you are a fresher.
With AI spreading like wildfire in every industry, there is a spike in demand for PMs who can handle AI products. In this blog, we will talk about five ways to increase your AI Product Manager Salary in 2024.
Average AI Product Manager Salary in the US
Salaries for AI Product Managers continue to be very competitive, going up day by day in the US since it is in high demand across many industries. The estimated median salary in 2024 for an AI Product Manager is around $204,500 annually, while top earners pull more than $248,000.
The average salary range for an AI Product Manager is $195K – $322K according to Glassdoor. Since AI Product Managers are in a lot of demand, the salaries at companies like OpenAI and Meta can go up to $400,000 including bonuses.
Factors Affecting AI Product Manager Salary
Before going to boosting your AI Product Manager salary, it is important to understand what are the factors that affect the salary of AI Product Manager.
Experience Level:Â Years of experience can make a big difference in salaries. While a junior AI Product Manager gets about $169,000-$272,000 with a median salary of $213,000. However, managers with more than 10 years of experience can earn more than $250,000 and have a median salary of $300,000.
Location:Â AI Product Managers working in some tech centers such as San Francisco and New York are well compensated because companies based in this region have a greater need for AI knowledge. For example, the salary range in Silicon Valley can be above $250,000, whereas in smaller cities, the salaries are a little bit lower around $200,000.
Industry:Â AI PMs in finance, healthcare, and autonomous technologies tend to reap higher rewards since these areas involve very complex and consequential systems. Tesla, Intel, Google, and other major companies may offer 10-15% higher salaries.
Skill Set:Â AI Product Managers require a specific skill set in machine learning, deep learning, and data science. Most of the experts with background knowledge in AI architecture, generative AI, and large language models receive higher salaries.
Ways to Increase AI Product Manager Salary
Now that you understand the factors that affect the salary, here are 5 ways to boost your AI Product Manager salary.
1. Enhance Your Technical Skill Set Improve Your AI Product Manager Salary
One of the best ways of boosting your AI Product Manager is to add technical skills to your profile. Such a role, also calls for extensive knowledge of the working side of artificial intelligence, machine learning (ML), and all related technologies.
Ideally, an AI Product Manager should have mastery (or at least have good knowledge) in the domain of ML algorithms, data science, and AI architecture. The better you are in these areas, the stronger a candidate you will be. ML, MLOps, and toolsets such as TensorFlow, and AWS Machine Learning add significant value to your profile.
AI is evolving at a breakneck speed and being ahead of the curve may make all the difference. Most notably, having an understanding of generative AI and Large Language Models (LLMs) has been the most hotly sought after in 2024.
2. Consider Moving to Cities That Have a Higher Demand for AI Product Managers
As mentioned earlier, location plays an important role in determining the AI Product Manager salary. The AI product managers in cities such as San Francisco, New York, and Seattle earn more pay because most AI-driven industries are located in such places.
Relocate to Tech Hubs
Some of the highest paying companies are located in in Silicon Valley. The average AI Product Manager salary in San Franciso is in the range of $234,000 to $383,000. San Franciso also houses FAANG+ companies like Google, Meta, and Apple, among other tech firms, and those companies constantly hire the best and the brightest.
| Location | Range |
| San Franciso | $234,000 – $383,000 |
| New York | $221,000 – $375,000 |
| Seattle | $209,000 – $340,000 |
| Austin, Texas | $195,000 – $317,000 |
| Massachusetts | $184,000 – $299,000 |
Remote work opportunities
With the emergence of remote work, there also lies the opportunity for some AI Product Managers who could get a higher salary. If you do not prefer living in big cities with higher cost of living, you can perhaps choose to work remotely.
However, remote opportunities may not pay as much as in Silicon Valley and such opportunities are relatively lesser.
3. Specializing in a Niche Area is a Good Way to Increase Your AI Product Manager Salary in Long Term
This can easily push your salary upwards if you specialize in sectors of AI that are highly in demand. Though having basic product management skills is important, specialization in specific areas of AI can really make a difference for you.
Generative AI and NLP
With the generative AI model explosion, such as ChatGPT, deep skills in Natural Language Processing and Generative AI really pay. An AI Product Manager skilled in such areas may command $250,000 and above.
Industry Focus
AI Product Managers working in finance, healthcare, or autonomous vehicles would command higher compensation packages due to the level of difficulty and risk associated with such fields. Companies such as Lockheed Martin and Tesla would have no problem paying more than $350,000 to an AI Product Manager with industry expertise.
4. Leverage Company Equity, Profit Sharing and Bonuses
Apart from base pay, AI Product Managers also make additional pay in the form of equity, stock options, and profit-sharing schemes. Any start-up related to Artificial Intelligence offers high equity packages in early-stage startups as compensation. Joining a high-potential startup as an AI Product Manager does not only offer immediate compensation but also chances for substantial future earnings as the company grows.
Companies such as Planet and Intel also have profit-sharing arrangements among the compensation packages for their employees, which add another $50,000 to $100,000 on top of the base salaries annually.
5. Building connections and industry reputation
A good professional network and reputation in the community will win some golden opportunities to find a better job. For example, you can attend business and tech events such as AI Summit or NeurIPS-Conference on Neural Information Processing Systems. By attending such events, you can interact with other professionals, share knowledge, and discover new career opportunities.
Write on Thought Leadership
Blogs, writing articles, or even researching and presenting material on AI trends can brand you as an authority figure around the topic. Doing so can improve your reputation and may very well lead you to receive great job offers or promotions. Companies are often willing to pay much higher salaries to professionals who are experts in their domain.
Improve Your AI Product Manager Salary and Land Your Dream Job With Interview Kickstart
As of 2024, the AI Product Manager ranks among the highest positions in the industry with regard to compensation and continues to increase due to high demand. Now that you know what is the industry standard for the AI Product Manager salary, you can work toward improving it.
With Interview Kickstart’s Product Management Interview Course, you can master the foundation of product management. Led by industry experts (from the likes of Google, Facebook, and LinkedIn), our instructors will help you build a strong foundation in the subject, and give you all the tools required to be successful in your career or land your dream job.
You can check out some of the success stories of our alumni who have advanced their front-end development careers with the help of Interview Kickstart.
FAQs: AI Product Manager Salary
Q1. What is the average AI Product Manager salary in the US in 2024?
The average AI Product Manager salary in the US in 2024 is around $204,500 per year. Top earners in high-demand locations can make over $250,000 annually.
Q2. How Would the Location Factor Into an AI Product Manager Salary?
The salary of AI Product Managers varies by geography. Cities like San Francisco and New York pay much higher with an average salary in the range of $221,000 – $383,000. Smaller cities like Austin have much smaller averages, usually around $150,000.
Q3. What determines the AI Product Manager’s salary?
The main determinants of an AI Product Manager’s salary include level of experience, location, specialized AI skills, and industry demand.
Q4. Can certifications for AI Product Managers boost their salary?
Yes, an AI/ML along with the certification in AWS Machine Learning can highly boost the pay scale for an AI Product Manager, especially in high-demand areas like Generative AI and Natural Language Processing.
Q5. What is the maximum salary available for an AI Product Manager?
The highest-paying designation for an AI Product Manager can reach as high as over $400,000, particularly at Netflix and Tesla, where bonus and equity incentives are highly significant within the compensation package.
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