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 after for 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.
#2: Product managers occupy key leadership 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.