Around the world, interest in the term ‘product manager’ has doubled. The job description is now outgrowing more ‘traditionally’ attractive career paths like management consulting and investment banking.
Tasked with visualising, strategising and developing successful products, product managers are an important bridge between products and the consumer. They are responsible for guiding the success of a product and leading the multi-disciplinary team that is responsible for improving it.
Even though the discipline is thought to have been around since the 1930s, product management is still considered an emerging field. But companies around the world are excited about the benefits.
Companies hiring for product management jobs in Finland have also caught the bug and have been carrying out a lot of activity on this front.
If you have had an eye on the developments in the market for product management jobs in Finland, you’ll thoroughly enjoy this article.
Drawing from data curated from the MeetFrank app, we took a close look at how jobs in product management have been shaping up in Finland. This article will discuss 7 interesting facts we’ve unearthed. Here goes.
#1: Offers for product management jobs in Finland have increased by 160%
Compared to the period running from July to December 2018, product management jobs in Finland have seen an astonishing increase in offers.
MeetFrank data on offers for these jobs in the first half of 2019 showed a 160% increase in these offers as against the second half of 2018.
For a position that is still emerging, this is a promising increase. Clearly, more companies are hiring for these jobs on MeetFrank and more candidates have an opportunity to find the jobs that interest them.
#2: Product managers provide 34% extra revenue to companies
That’s one of the reasons why there’s so much hype around product management jobs in Finland and in various industries.
Unlike other professionals such as project managers, sales/marketing reps and business development reps, product managers occupy a niche that was unsatisfied by any of the other positions.
The general trend in sales has been an increasing gravitation towards the consumer as the nucleus of the industry. And as the consumer takes possession of its place at the heart of the industry, they increasingly require more from businesses.
This makes for a surprisingly cut-throat industry where products that don’t cut it will fail, and fast. According to this 280 Group survey, up to 21% of products fail because they do not meet customers’ needs. That’s about 1 in 5 products.
Product managers are uniquely placed to do one thing: bring the perspective of the consumer into the production process. They bring a unique understanding of consumer needs, problems and expectations to the table, then incorporate these in the production process from conception through to marketing and sales.
That’s why when performing at their best, product managers can help companies increase profits by up to 34.2%. How’s that for an investment?
#3: Yet, less than 30% of executives fully appreciate their value
That’s a hard stat to swallow. Despite the obvious value that product managers can bring to companies, almost two thirds (2 out of 3) of executives don’t even understand that value. How’s that for being unappreciated?
This problem is common for people in emerging roles where a lot of work is still being put into understanding the roles. Unlike other established roles like sales, marketing or design, it can be a tad difficult to showcase your value as a product manager.
Getting around this will involve finding ways to bring your value across clearly to the decision makers. When they can clearly see what you’re doing and how it impacts the firm, they will better understand your value.
#4: Senior product managers are the most sought after candidates
For the period between January to July 2019, candidates in senior roles were the most sought after by companies hiring for product management jobs in Finland.
Offers for candidates in lead roles were a close second though while offer for mid-level positions were distinct third. The least offers were made to candidates in executive roles and entry positions.
Considering the data, it might be worth your while to invest in added skills and experience before taking the plunge into the market for product management jobs in Finland.
The companies doing the most hiring for these jobs include Web-veistämö / Avoin.Systems, Efima Oy, Zeffi, Kraftvaerk Finland Oy, Kuori Oy, Qentinel Oy, Särmä Digital Oy, ICarryIt Ltd, Datafisher and Myinfomonitor.
#5: The lowest paid product managers in Finland earn an average of €3,600
MeetFrank data shows that entry roles in product management attracted average monthly salaries of €3,600. Not a bad start to a career in product management.
Mid-level product managers were paid an average of €4,125 per month, seniors earned €4,833 and executives were highest paid, carting away €5,500 per month.
The general averages throughout the first half of 2019 indicated an average minimum of €2,762 and an average maximum of €4,692. The highest salary offer was a princely €7,500 per month.
Our figures for monthly averages also buttressed the high figures for average salaries with the highest being €4,550 in June and the lowest, €3,130 in March.
#6: The most in-demand skill for product managers is project management
Considering the fact that product management and project management are considered to require very different skillsets, this is quite interesting.
Project management usually involves taking charge of a specific subset of the production process and managing goals, deadlines and results in relation to that subset. For instance, in the course of producing a new iPhone model, a team may be asked to focus on producing a better camera. A project manager will usually be in charge of that team.
However, despite the narrower focus of project management, it makes sense that it is required for product management jobs in Finland. At its most basic level, a single product is a collection of different features and elements.
A skilled product manager should be capable of focusing on one of these elements and micro-managing there if necessary. If the iPhone’s camera is considered to be that point where the next big breakthrough will come from, then the product manager will have to pay special attention to it.
Other skills required from product managers in Finland include business development (16%), team leading (16%), quality assurance (11%) and user experience (9%).
Project management, business development and team leading are the skills possessed by the top earners in the profession. MeetFrank data indicates that these skills will be useful to earning salaries above €4,000.
#7: Less than 5% of product managers can code
Surprisingly, the vast majority of product managers do not know how to code. Why’s this surprising?
Well, for a business role that has gained popularity through its development in tech companies, it’s a bit of a surprise. Although, while the role was once fairly technical, it’s fair to say there’s now a bit of diversity to the role. So coding skills are not entirely mandatory.
Despite this, 60% of product managers admit that more technical training will help them become better managers. This can help them better communicate with teams and translate their ideas much more fluidly.
If you would like to know more about product management jobs in Finland, you can download MeetFRank article for Android or Apple. All the important info you need is available on the app, and you can see the companies interested in hiring you.
Good product management is at the heart of every business operation that churns out winning products. Actually, strike that.
Fantastic product management is at the heart of making a great product. Why’s this? The world of product strategising and development is quite simply a jungle.
Every year, more than 30,000 new products are launched into the market. 85% of them fail within that same year or soon thereafter. Yet, by investing in a competent product manager and taking the time to achieve a fully optimised product management process, businesses can increase profits by an astounding 34.2%.
Considering this, it’s not a surprise that interest in product management jobs in Estonia and around the world is increasing in leaps and bounds. The Wall Street Journal reports that an increased number of Harvard Business School graduates (7%) took up jobs in product management.
Everyone wants a product manager on their team and it’s not hard to see why. A top notch product manager can help a company get it perfectly right from product visualising to strategising, development and sales. This has made product management jobs highly sought after.
Are you considering what opportunities exist for product management jobs in Estonia? We have just the statistics you’ll want to keep in mind. Here are 5 reasons why product management jobs in Estonia may be worth your time.
#1: Estonian jobs in product management are growing rapidly
According to MeetFrank data, there was a 60% increase in offers for product management jobs in Estonia between January to July 2019. Compared to the second half of 2018, that’s an astonishing increase.
While some of this growth is down to the expansion of the MeetFrank platform, it’s hard to ignore the intensely entrepreneurial spirit of Estonians and companies in the country.
You’ve probably heard that Estonia is commonly considered to be the world’s startup capital. The country has more startups per capita than any other country in Europe, if not the world.
Although the relatively small population of the country plays a part in this, you have to admit that you don’t find at least 4 unicorns running around just anywhere in the wild. The country is extremely committed to making Estonia a Mecca for startups, and we dare say they’re succeeding.
The consistent development of new startups in the country corresponds to an increase in the number of products being developed yearly. So, the figures posted this year might only be an indicator of even better times to come.
From MeetFrank data, mid-level candidates were the most sought afterfor product development jobs in Estonia in the first half of 2019. Offers for seniors and lead product managers were second and third respectively. There were significantly less offers for candidates in junior, executive and entry positions.
For candidates that are keen on entering fulfilling jobs where they get to make a difference, product management jobs in Estonia promise quite a bit.
By default, product managers operate at a reasonably high level in the business development chain. Pragmatic Marketing reports that 34% of departments in a business report to product management.
Compared to the 23% that report to the managing director and marketing, you can appreciate how ‘involved’ product managers will be with the business of the firm.
MeetFrank data for the most demanded skills for product management jobs in Estonia over the first half of the year also bears this out. Out of 11 tracked skills, project management and team leading were the top two, with 25% and 13% of offers respectively.
These skills indicate that product managers will be expected to play a sort of ‘mini-CEO’ role. Since they will be closely involved with all aspects of product development and sales, candidates in these roles will essentially operate at the heart of the business.
Other skills that made up the top five are Scrum, Kanban and Agile; business development; and Analytics and BI with 13%, 11% and 3% respectively.
Emphasising the interest in leadership skills, MeetFrank data further indicates that project management; Scrum, Kanban and Agile; and team leading are the skills most likely to earn candidates more than €2,500.
#3: Product management is a fast track for the C-suite
Apart from the fact that product managers will occupy key leadership roles in businesses, it is thought that these roles can serve as a primer for greater responsibility. Maybe even in the C-suite.
McKinsey considers this to be par for the course. They point out that the CEOs of Google, Microsoft and Yahoo were all product managers before joining the C-suite. And this experience is not limited to only tech companies.
PepsiCo CEO, Indra Nooyi, also has roots in product management from when she worked at Johnson & Johnson and Mettur Beardsell.
More than just being a stomping ground for likely CEO candidates, McKinsey maintains that product management jobs may actually be used as a training ground for the C-suite.
So, if you have taken a real interest in product management jobs in Estonia, you may well be on your way to the top of the pile. Isn’t that exciting?
#4: Product management jobs in Estonia pay well
The national average salary in Estonia was €1,419 for the second quarter of 2019. These are the latest figures as the figures for the third quarter are yet to be released. MeetFrank data indicates that product management jobs in Estonia pay significantly more than the national average.
We found that the overall average of minimum salary for product management jobs offered on MeetFrank was €1,749 in the first half of 2019. The average maximum was €2,913 and the highest salary offer received during the period was €5,500.
Entry level candidates earned an average of €1,867 and juniors earned even better at an average of €2,412 per month. Seniors earned an average of €3,028 and lead candidates were the highest paid, earning an average of €3,135.
The general averages from month to month held steady between a low of €1,888 in July 2019 and a high of €2,650 in June 2019. In all, the data indicates that product management jobs in Estonia will certainly pay reasonably well.
#5: There are tons of options from tons of companies
You will have your pick of companies making offers for positions in product management jobs in Estonia. Since there has been such a surge in activity from several companies, qualified candidates will be spoiled for choice.
Companies such as SEB, ViisTek Media, Erply, TEHIK, Eesti Energia, Inbank, Telia Estonia, Avalanche Laboratory OÜ, SMIT and Ekspress Digital.
Many MeetFrank users in Estonia have also expressed their preference for companies offering product management jobs. Most want to work for startups, fintech and in businesses that offer remote workspaces.
There are several companies that fit this profile and are also hiring product managers. They include SEB, Telia, Inbank, Veriff, Estateguru, If insurance, Pocopay, Helmes, GrabCad, Allepal, RMIT, Swedbank, Luminor, Derivco and eAgronom.
Regardless of what seniority your skills will pull, it’s clear that there’s something to be said for the promise of product management jobs in Estonia. Fancy giving these jobs a try? Check out the companies hiring for these jobs and what they have to offer on MeetFrank. You can download the app for Apple or Android here.
Recruiters can also use the app to see what candidates perfectly fit their preferences. Use MeetFrank for a recruitment process that is swift, efficient and cost-effective. Contact us to find out more.
Product management is moving front and center in many business’ strategies. Due to the increasing importance of data in decision making and increased customer and design focus, the role of the product manager is expanding.
McKinsey describes product managers as “the glue that bind[s] the many functions that touch a product…” Their influence extends to not only what products get built but also “every aspect of how it gets built and launched”.
Why are they so important? In an increasingly consumer-oriented world, businesses that can connect with their customers and thoroughly solve their problems are the ones that are flying high. You only need to look at brands like Apple and Google to appreciate this.
Considering the climate, it makes sense to invest in a role occupied by someone that can make that connection and translate it into every aspect of the product. This is why product management jobs in Lithuania are only set to grow bigger.
Lithuania itself is a country that is supremely focused on becoming a preferred business location for countries around the world. In this country of lean, infectious growth, product management jobs are doing as well as they ever have.
This article discusses the recent trends for product management jobs in Lithuania. Using data from the MeetFrank app, it explains what the market for these jobs looks like and the key data to keep in mind.
Who are employers in Lithuania looking for?
Offers for product management jobs in Lithuania increased by 50% in the first half of 2019, compared to the second half of 2018.
The burst in hiring activity signals the expansion of the MeetFrank platform and greater interest of companies in candidates for these positions.
Employers hiring for product management jobs in Lithuania have set their eye on a variety of candidates that can occupy more experienced roles.
According to MeetFrank data, offers for product managers in mid-level roles were highest between January and July 2019. Candidates for senior roles received almost as many offers, coming in second.
The least offers were however made to less experienced candidates in entry and junior roles.
While the market seems favourable to more experienced candidates, fresh talent may have to skill up if they’ll have a chance in the market. Companies seem more interested in snapping up more experienced candidates at the moment, although that may change as teams start getting built out.
Average salaries for product management jobs in Lithuania
MeetFrank data on average salaries for product managers in Lithuania was studied along three main tracks: average overall, average per month and average per seniority.
The overall averages showed that the average minimum salary for the first half of 2019 was €1,264 while the average maximum was €2,541. The highest salary during the period was €5,517 per month.
For averages per month, average salaries started out low at the beginning of the year before improving towards mid-period and then tapering off at the end of the period. The average in January was €1,962 and February was €1,710.
March was much better at €2,078 and April was even better with an average of €2,350. Perhaps due to the characteristic drop in recruiting activities during the summer period, averages dropped to €1,500 in May. While there was a rally to €1,963 in June, the first half of the end year at €1,725 in July.
For averages per seniority, executives were the highest paid, earning €3,600 on average per month, while entry candidates were the least paid with an average of €1,650 per month.
Most in-demand skills for Lithuanian product management jobs
Project management was the most in-demand skill for product management jobs in Lithuania. Out of 11 tracked skills, it was required in 20% of offers.
Team leading was the second most preferred skill, required in 14% of offers, while competencies in Scrum, Kanban and Agile came third, required in 13% of offers.
Other skills making up the top five are business development and analytics and BI, required in 10% of offers each.
To make more than €2,500 in product management jobs in Lithuania, you need to have competencies in project management, team leading, Scrum, Kanban and Agile.
The data for in-demand skills reinforces the high-level role that product managers are expected to play in relation to a company’s product.
Sadly, many companies fail to provide appropriate systems and processes that will help product managers do their work well. This 2016 study found that about 50% of product managers are not impressed with their organization’s product management process.
Worse, 6% of organizations affected had no plans to improve their processes. In this situation, product managers are forced to navigate a system that makes decision making, accountability and communication harder than it should be.
However, this does not necessarily translate to a disadvantage. It can even be an opportunity. By finding tools and processes that can integrate into any business, you can be the one to make the C-suite executives see the light.
Where do MeetFrank users want to work?
Our data shows that most MeetFrank users would like to work in startups, coolest offices and in companies that offer remote workspaces.
There are several companies that fit this bill and are also looking for product managers. They include Telesoftas, Baltic Amadeus, Kilo.Health, Telia and ORCA Alliance.
Some of these companies are also part of the top ten currently hiring for product management jobs in Lithuania. They include TeleSoftas, Danske Group IT Lithuania, Intrum Global Business Services, Baltic Amadeus, Horion Digital, Umega Group AB, ACC Distribution, Credital, Kilo.Health and Energus Power Solutions.
Get started on MeetFrank today
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