Product Marketing Managers (PMMs) saw paradoxical trends in compensation rates in 2024, reflecting how many technology companies are deviating from previous norms to chart new territory when it comes to their outreach strategy. Most Product marketers saw salary averages that dwarfed their peers in other go-to-market (GTM) jobs, yet the data from the previous was often skewed by lopsided patterns in tech marketing hiring.
As we outline in the latest version of the Betts Compensation Guide, above all most SaaS startups are hyper-focusing on recruiting more experienced marketers that can help build new strategies and take charge of deploying emerging tactics and tools, such as Generative AI. In this blog, we will go into how these trends are evolving for Product Marketing Managers and dive into the top developments to watch out for over the next year:
Hiring and Compensation Trends for Product Marketing Managers
That the events of the 2020’s had a major impact on technology companies is an understatement – from the COVID-19 pandemic to its aftermath, the industry went through huge shifts that involved several peaks and valleys that are still changing how organizations engage with their customers and prospects. Sales motions face challenges from markets that are saturated with competitors and buyers that are much more meticulous about the ROI value of their software purchase. A key factor that is becoming more important than ever in the selling cycle is the ability to communicate technical knowledge while still being able to sell – this is where tech sales and marketing roles come in.
Product Marketing Managers are indeed akin to Sales Engineers in their role as solution experts, assisting in the facilitation and closure of deals. Additionally, they play a crucial role in supporting the development, execution, and management of marketing campaigns. PMMs are your go-to marketers for refining product messaging, helping to create content that educates prospects and users about everything your platform does and could do. For SaaS and its subsectors, the importance of hiring this role cannot be overstated – in a crowded market where there is software for every use case, you need to communicate quickly and clearly what makes your offer different.
Product Marketing Manager Salary Data for 2024
The average salary for a Producer Marketing Manager was $145,000 – $190,000 across the U.S., although it varied slightly between different regions and whether the job was in-office or hybrid, or remote. PMMs on the East and West Coasts averaged a range of $150,000 – $200,000 while in the Central and Mountain time zones it ranged from $140,000 – $180,000; remote Product marketers earned the same rate as the latter.
There was not enough data to determine an OTE (on-target earnings) average for PMM roles in the interior U.S. or working remotely, but those in Eastern and Western time zones could earn up to 10% of their base salary in additional income, such as performance bonuses, etc.
| NY / SF | Pacific | Mountain | Central | Eastern | Remote | |
| Base | OTE | Base | OTE | Base | OTE | Base | OTE | Base | OTE | Base | OTE | |
| Content Marketing | 110-150 | 100-140 | 90-130 | 100-130 | 100-140 | 100-140 |
| Demand Generation | 130-170 | DOE | 130-170 | DOE | 120-150 | DOE | 110-140 | DOE | 130-170 | DOE | 110-140 | DOE |
| Product Marketing | 150-200 | 160-220 | 150-200 | 160-220 | 140-180 | 140-180 | 150-200 | 160-220 | 140-180 |
| Event Marketing | 80-160 | 10% | 80-160 | 10% | 80-160 | 10% | 80-160 | 10% | 80-160 | 10% | 80-160 | 10% |
More Top Compensation Trends for Product Marketing Managers
The trends impacting compensation for Product Marketing Managers in 2024 can also be seen influencing others within the tech space, and in the rest of this blog we will cover where and how these developments are shaping up so that you can keep an eye on them now:
Demand for Technical Knowledge and Skills
There is a growing focus among most technology startups to prioritize recruitment for more experienced candidates, especially for those with technical or specialized skill sets. Sales cycles in SaaS in particular are becoming more complex and often more demanding in 2024 – prospects need to see ROI spelled out quicker and are actively looking to spend the least amount of money possible. Hiring tech sales and marketing professionals is becoming a necessity in this landscape, yet the available pool of qualified talent is only growing at a trickle while demand for their knowledge and expertise is skyrocketing.
Collaboration with Product and Sales Teams
By the very nature of their role, PMMs will need to actively collaborate with your Product and Sales team to ensure they are all aligned on messaging, activities, etc. This is important as besides technical specializations, many technology organizations are also prioritizing hiring candidates with proven soft skills. Personability is hard to train, and constant remote work has impacted socialization for some, so many companies are making this a requirement for their “unicorn sellers” (and marketers).
Leveraging Marketing Intelligence
It has long been thought that data is “the new oil,” but the intent behind the original declaration reflects how the true value of analytics can only really be captured when it is refined the right way. Experienced GTM professionals in analytical roles like Revenue Ops Manager or Product Marketing Manager are rising in importance because of this, with the skills needed for those jobs being a common requirement in the wave of hiring for specialized positions. For PMMs, this means not only being able to keep up with market trends and pay close attention to metrics, but also being able to act on them and leverage these insights to drive success for their team.
Owning Product Marketing Strategy
All of the trends outlined previously contribute to the top trends we have seen influencing compensation rates for tech marketers – most startups are prioritizing hiring for not only seasoned professionals, but specifically those that can jump in to build and execute new marketing strategies. Managers that have proven that they can take charge of a product marketing program that is adaptable for the new normals of the current market and scale it for success are the most in-demand for tech startups right now. As Product Marketing Manager job listings already typically require a significant amount of experience, the available talent pool for this unicorn persona is probably going to shrink even further and drive up the expected compensation rate.
Hire Your Unicorn Product Marketing Manager with Betts Recruiting
Product-focused marketers are some of the highest paid in tech, and finding a candidate that fits your unicorn criteria means being selective about your sourcing. Let the Betts Recruiting team help you scale your talent acquisition to ensure you find your right fit hire while maintaining your hiring budget.
Contact Betts here to get started on your search for your next unicorn Product Marketing Manager.