How to become a world-class Product Manager and earn $154,000+ annually

In today’s fast-paced and ever-evolving tech landscape, the role of a Product Manager has become increasingly crucial.

A product manager is the person who identifies the customer need and the larger business objectives that a product or feature will fulfill, articulates what success looks like for a product, and rallies a team to turn that vision into a reality.

The average salary for a Product Manager is ₦450,000 per month in Nigeria. The average Product Manager salary in Nigeria is ₦5,000,000 per year. Entry-level Product Manager positions start at ₦3,550,000 per year. However, the average salary for Product Manager is £63,604 per year in the United Kingdom.

The average additional cash compensation for a Product Manager in the United Kingdom is £6,435, with a range from £3,308 – £12,518. In the US, the salary of a Product Manager ranges from $74,000 annually to $154,000 or more, depending on years of experience.

As businesses strive to stay competitive and deliver innovative solutions, skilled Product Managers are in high demand. For ambitious individuals in Africa aspiring to become world-class Product Managers, this comprehensive guide for aspiring tech leaders offers invaluable insights, step-by-step strategies, and actionable tips to carve a successful career path in this dynamic field.

Take an online course on product management
To kickstart your journey as a Product Manager, investing in quality learning is paramount. Fortunately, there are numerous online courses and resources available, many of which are free. Platforms like Product School, Product Dive, AltSchool Africa, LinkedIn Learning, Udemy, and Coursera offer courses designed to equip you with the fundamentals of product management. For instance, you can explore LinkedIn Learning’s “Product Management Foundations” or Coursera’s “Digital Product Management” to get started.

Statistics show that 70% of professionals believe that acquiring new skills can help them succeed in their careers. By dedicating time to these courses, you’ll gain valuable insights into product strategy, market research, and product development, setting a strong foundation for your future as a Product Manager.

Join a boot camp or technology group
While online courses offer valuable theoretical knowledge, engaging with the tech community in-person can provide invaluable practical experience. Consider joining boot camps or technology groups that offer hands-on learning and opportunities to collaborate with other professionals.

For African tech enthusiasts, initiatives like Google Developer Groups (GDG), TechWomen, or Andela Bootcamps can be excellent starting points. These events often include hackathons, workshops, and mentorship programs, giving you the chance to put your learning into practice and network with industry experts.

Create a portfolio
As you accumulate knowledge and practical experience, building a strong portfolio becomes crucial to demonstrate your capabilities to potential employers. Your portfolio should include a selection of side projects that showcase your skills as a Product Manager. Remember, even course projects can be valuable additions.

Ensure your portfolio highlights your approach to problem-solving, product ideation, and the impact of your projects. This tangible representation of your work can significantly influence recruiters and employers, helping you stand out in a competitive job market.

Search for internship or volunteering opportunities
Hands-on experience is invaluable for growth and development as a Product Manager. Look for internship or volunteering opportunities with startups or small technology firms. Such environments often offer more flexibility, allowing you to gain practical experience while honing your skills.

Suppose you’re wondering where to start. Consider reaching out directly to CEOs or Product Leads of innovative startups on LinkedIn, expressing your interest in working with them. Startups with team sizes of 3-10 are ideal, as they provide a closer, more collaborative learning environment.

For instance, let’s take the story of Tolu, a young tech enthusiast from Nigeria. Tolu recently completed an online product management course, but she understood the importance of practical experience. She reached out to a promising fintech startup with a unique payment solution. By offering her services as a part-time intern, Tolu had the opportunity to learn from experienced Product Managers while contributing to real-world projects. This experience paved the way for her future success as a world-class Product Manager.

Be Strategic with Your Industry and Company Choices
As an aspiring Product Manager, you have the flexibility to choose the industry and company you work for. Be strategic in your choices by selecting industries that genuinely interest you and foster innovation. Look for companies that align with your career goals and offer ample opportunities for learning and growth. See how to land your first job easily as a Product Manager HERE.

Suppose you have a passion for e-commerce and are interested in leveraging technology to improve the online shopping experience for consumers. In that case, joining a forward-thinking e-commerce platform in Africa could be a perfect fit. By immersing yourself in an industry you’re passionate about, you’ll remain motivated and driven to excel.

Becoming a world-class Product Manager in Africa requires a combination of dedication, continuous learning, practical experience, and strategic decision-making. By investing in online courses, engaging with the tech community, building an impressive portfolio, seeking hands-on opportunities, and being strategic with your industry choices, you can carve a successful career path in this dynamic field.

The journey to becoming a world-class Product Manager may be challenging, but with passion, determination, and the right approach, the possibilities are limitless. As the African tech ecosystem continues to flourish, aspiring Product Managers have a unique opportunity to shape the future of tech innovation on the continent and beyond. So, embrace the learning process, embrace the challenges, and embrace the exciting future that awaits you as a world-class Product Manager.