Masters in Product Management

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Product management is an organizational job that oversees every aspect of a product’s life cycle, from development to positioning and pricing, by putting the product and its users first. Product management is a diverse and ever-changing discipline that has a substantial impact on businesses and their stakeholders. To generate outstanding product outcomes, product managers mix user focus, business knowledge, and technical skill. Keep reading this blog if you want to know more about master’s in product management application details, eligibility, career and much more!

Course Master’s in Product Management
Level Masters
Duration 1-2 years
Average Fees INR 10,00,000 to INR 30,00,000
Average Salary INR 13 – 15 LPA

About Masters in Product Management

The Masters in Product Management program can help you better understand your customer’s history, design products that meet their demands, improve management skills, develop exceptional communication skills, and improve the effectiveness of your team. This program is for students who want to learn about product marketing, how to create physical or virtual products, how to think beyond the box, or how to manage a product portfolio. If you’re thinking about getting a master’s degree in product management, don’t worry; you’ll find a variety of job titles under it, including Product Managers, Project and Program Managers, Director and Vice Presidents of Product Management, and General Managers who oversee product portfolios and strategies.

Why Study Masters in Product Management

The role of a Product Manager has a lot of room for growth because you’ll be working with numerous cross-functional teams. Your subject expertise and experience will be enhanced by working with engineering, design, research, marketing, business, analytics, sales, support, and content teams. The abilities you’ll gain via everyday partnerships, communications, difficulties, and regular decision-making will help you become a great leader in the future.

Solving users’ problems, watching how the product you produced is used by your end-users, and seeing how it affects someone’s life will be addictive.

You will also get the opportunity to communicate with the organization’s top leadership, which will help you better understand the organization’s vision. Having a broader perspective will help you make the best decisions for your product and business. You will find the role to be adaptable because you will be the one making the decisions and prioritizing the duties. 

Syllabus

  • Product Portfolio Analysis
  • Market Research
  • Advertising and Channel Management
  • Strategic Brand Management
  • User Experience Design and Innovation
  • Pricing and Promotion
  • New Product Planning
  • Business models- designing, storyboarding, and wireframing
  • Customization and innovation in the digital domain
  • User Experience design
  • Financial theories and fundamentals of business
  • Communication and presentation practices
  • Product Marketing and Strategy
  • Testing and validation techniques and implementation
  • Elimination Strategies
  • Customer development 
  • Consumer Behavior

Top Universities for Masters in Product Management

INSTITUTE ANNUAL FEES (INR)
The University of Liverpool – Management School 22,30,800
Carnegie Mellon University 52,03,090
Aston University 9,47,363
Poznan University of Economics and Business  1,73,872
New York University 17,37,370
University of Wisconsin 37,12,518
University of California, Berkeley, Haas School of Business 6,08,471

Top Colleges in India

  • University of Technology, Jaipur
  • Institute of Product Leadership, Bangalore
  • Vikramajit Singh Sanatan Dharma College, Kanpur
  • Shiv Nadar University
  • Institute of Business Management and Research
  • Bharatiya Vidya Bhavan Royal Institute of Management
  • Indian Institute of International Business

Eligibility

  • To be eligible for admission to different institutes in this program, candidates must be a graduate. They must hold a degree from a recognized university or board.
  • Candidates with a background in science, arts, commerce, business administration, or any other field are eligible to apply to any institute that offers this postgraduate program. They may, however, need to pass the entrance exam.
  • Any student who has already completed his or her post-graduation level study in any discipline and is attempting to enrol in this course is welcome to apply.
  • Most colleges that offer Product Management degrees, according to reports, accept candidates who have earned a minimum of 50% in their undergraduate studies. Students from the reserved category, on the other hand, do not have to meet any minimum marks requirements in order to be admitted.
  • An applicant applying for admission to this course has no upper age limit. He or she must, however, be at least 20 years old to be considered for admission to those institutes.

For abroad, check with the university pages as the criteria differ from institution to institution. However, an overview would include:

  • IELTS 6.5 (with no band lower than 6.0)
  • International Baccalaureate (Standard Level 5)
  • TOEFL iBT (88 or above with minimum scores in components as follows: Listening and Writing 21, Reading – 22, Speaking 23)
  • INDIA Standard XII (70% or above from Central and Metro State Boards
  • GMAT / GRE – Required, Average GRE – 321, Average GMAT – 691
  • LOR and SOP

Application Process

The application process takes place over a period of time and begins months before the commencement of classes. The universities have two main intakes known as the fall intake and winter intake for international students to kickstart their journey. You can call our Leverage Edu experts on 1800 572 000 to find out how the application process can be fast-tracked. Here’s an easy 5-step process to complete your application process:

  1. Call our experts on 1800 572 000 to shortlist your favourite universities and courses. Start your application to multiple universities through our one dashboard platform.
  2. Compile all your documents like SOPs, essays, certificates, and LORs and exam scores like IELTS, TOEFL, GRE, GMAT, etc.
  3. Meet all the application deadlines and start the application process for accommodation, students visa, and scholarships/student loans.
  4. Accept the offer letter and meet your teachers, college mates, and roommates virtually.
  5. Get your visa approved and fly to your dream university.

Career Scope

Master’s in Product Management has excellent future career prospects with salaries normally starting around INR 10 LPA and going as high as INR 40+ LPA for senior profiles in India.

Top Job Profiles & Salary in India

Following are some of the top job profiles after a Master’s in Product Management and their average salary in India.

JOB PROFILES AVERAGE SALARY
Product Marketing Manager INR 12 LPA
Delivery Manager – Product INR 24 LPA
Product Development Manager INR 14.3 LPA
Assistant Manager – Product INR 7 LPA
Group Product Manager INR 18 LPA
Source: Payscale, Glassdoor & AmbitionBox

Top Countries for Product Managers

Check out the average salary for Product Managers in different countries around the globe.

Country Average Salary
UK GBP 53,100 (~INR 50 Lakhs)
USA INR 89,300 (~INR 70.60 Lakhs)
Canada CAD 96,200 (~INR 58.26 Lakhs)
Australia AUD 88,400 (~INR 47.37 Lakhs)
New Zealand NZ$ 79,200 (~INR 38.44 Lakhs)

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FAQs

What are the job prospects after a master’s in product management in other fields?

The following are some of the industries where a candidate might find work: Manufacturing, finance, market research, software, hospitality, advertising, e-commerce firms, personal care product firms, food manufacturing firms, automobile firms, and home product manufacturers are all examples of industries.

What are the chances of Product Management succeeding in India?

In our country, there are numerous opportunities in the sector of product management. Because the field is not overcrowded, students who are interested in it will have plenty of options in the near future. Because only a small percentage of students choose this path, there are more employment openings in various organizations.

What abilities are required for the various job roles?

Ability to solve a problem analytically, leadership, charisma, creative mindset, persuasion abilities, and ability to remain cool in the face of adversity are some of the factors required for this role.

We hope that our blog has provided you with all of the information you require about a Master’s in Product Management. Do you need help deciding which study abroad program is the best fit for you or planning to study? For total assistance in getting admission to your selected college, contact our Leverage Edu consultants. Call us right now at 1800572000 to make an appointment!

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