2023 | Global Salary Survey

2023 Report Product Marketing Salary Survey GLOBAL RESULTS

Global Results Product Marketing Salary Survey 2023 Contents 3 Introduction 4 Key findings 5 Part 1: Who took part 7 Part 2: Global salary average 10 Part 3: Salary by location 18 Part 4: Job title and salary 22 Part 5: Industry and job role 26 Part 6: Company factors 34 Part 7: Support from the C-suite 37 Part 8: Inclusivity and pay 50 Part 9: Company culture 53 Part 10: Personal experience and current role 62 Part 11: Salary satisfaction 65 Part 12: Career aspirations and stability 69 Part 13: Conclusion 2

Global Results Product Marketing Salary Survey 2023 Introduction The product marketing industry has seen tremendous growth in recent years, and with it comes questions about fair compensation. As product marketers, we want to understand what our peers worldwide are earning to benchmark our own salaries. Are we being paid in accordance with value we deliver? And what factors contribute most to earning potential? To find out, we surveyed product marketing professionals from across the globe to provide insights into compensation trends. Before diving into the results, a few notes on the methodology: • The data reflects responses from those surveyed and may not represent all product marketers. • The figures are in US Dollars (USD) for consistency. • We analyzed three key data points: • Base salary (salary before taxes) • Annual bonus and stock options • Total compensation including salary, bonuses, and stock granted • Our research primarily focuses on median base salaries. We believe this measurement (which controls for outliers) offers the most accurate representation of real earnings. Where appropriate, we also look at average total compensation, based on mean average salaries, bonuses, and stock allocations. • For purchasing power parity (PPP) adjustments, we used OECD / World Bank data from 2023. With the stage set, let's explore the survey findings on PMM salaries for 2023! 3

Global Results Product Marketing Salary Survey 2023 Key findings Not got time to sink your teeth into the whole report just yet? Here are some key takeaways to get you started. • The global base salary average (without factoring in variables like location, job title, gender, and so on) is $110,266, down 10.6% year-on-year. • The global product marketing median salary now sits at $105,000, down 8.7% from last year. • After geographical location, role seniority was found to the the variable that has the biggest impact on earning potential. • We saw little correlation between company size (considering annual revenue, growth, stage, and employee headcount) and average total compensation. • The region that reported the highest average total compensation was North America ($156,216). • The gap between male and female average total compensation fell to just 1% in 2023. However, the median salary gender pay gap rose from 6.9% in 2022 to 8% in 2023. • The region with the largest gender pay gap was Australasia, where male average compensation was found to be $129,825 vs. $81,833 for female respondents. • Those who considered themselves a minority (in any capacity) reported earnings 12.3% higher than the global product marketing median salary. • B2B PMMs earn a higher average base salary than B2C PMMs ($120,021 > $100,882). • Those who are product marketing certified earn significantly more in base salary ($115,000 compared to $98,268) than their uncertified peers. 4

01 Who took part

Global Results Product Marketing Salary Survey 2023 Who took part The highest volume of respondents are those with the following job titles: • Associate Product Marketing Manager • Product Marketing Manager • Senior Product Marketing Manager • (People) Manager of Product Marketing • Director of Product Marketing • VP of Product Marketing When we delved into the responses, the breakdown of participants’ roles looked like this: Other (People) Manager of Product Marketing 6% 4.8% Associate Product Marketing Manager 4.8% Product Marketing Manager VP of Product Marketing 42.7% 4% Director of Product Marketing Job title 14.4% Senior Product Marketing Manager 23.4% Other titles included: • Growth Manager • Head of Marketing • Head of Product Marketing • Marketing Manager • Product Marketing Lead • Sales Operations and Enablement • Senior Marketing Consultant • Senior Director of Product Marketing • SVP Product & Product Marketing 6

02 Global salary average

Global Results Product Marketing Salary Survey 2023 Global salary Let’s begin with a general overview of the average PMM salaries globally – not taking into account average variables such as location, job title, level of experience, and so on. Looking at the global averages, we can see year-on-year drops across the board, with average compensation (combining salary, bonuses, and stock) down over 10% in 2023. The median salary - which is not skewed by potential outliers - was found to be down 8.7%, suggesting that the typical product marketer is indeed worse off than a year ago. The biggest drop was observed when it came to the dollar valuation of allocated stock, which dropped at a staggering 33% year-on-year – a drop that’s perhaps emblematic of the challenging market conditions experienced by many organizations in 2023. Total (salary, bonuses, stock) 2022 2023 $136,117 $121,664 -10.6% Before Tax $117,158 $110,266 -5.8% Yearly bonus $10,332 $9,033 -12.5% Yearly granted stock $10,199 $6,780 -33.5% Median salary $115,000 $105,000 -8.7% $0 $20K $40K $60K $80K $100K $120K $140K 8

Global Results Product Marketing Salary Survey 2023 Global salary But global salary averages don’t tell the whole story – not even close. There’s a multitude of average factors that influence compensation and earning potential, and we’ll explore each of them throughout this report. As we go deeper into the survey results, we'll slice and dice the data from different angles to produce a multidimensional view that reveals the subtleties driving compensation today. To begin with, we’ll explore the dynamics of geographical location – typically the biggest factor affecting earnings. 9

03 Salary by location

Global Results Product Marketing Salary Survey 2023 Salary by Region location Location undoubtedly plays a significant role in earning potential. To uncover the extent to which product marketing salaries vary across the world, we began by looking at average compensation and median salaries by continent. North America Europe $156,216 $79,675 $36,155 Asia $89,114 $48,507 $35,525 Middle east $90,559 South & Central Africa America Australasia 11

Global Results Product Marketing Salary Survey 2023 Salary by Total compensation (salary, bonuses, and stock) location Unsurprisingly, product marketers in North America still enjoy the highest average compensation packages, at $156,216. Laying bare the earnings gulf between North America and the rest of the world, the next best-compensated region was Australasia, with a total compensation average of $90,559 – a difference of 53%. More broadly, six of the seven regions studied saw year-on-year drops in average compensation – with only South & Central America recording an annual gain – continuing a trend we saw last year where five of the regions saw annualized drops in product marketing earnings. Countries Avg. total Avg. total Avg. total Average annualized compensation (2021) compensation (2022) compensation (2023) growth rate (AAGR) North America $160,618 $162,335 $156,216 -1.38% Australasia $124,862 $109,132 $90,559 -14.8% Middle East $105,793 $96,448 $89,114 -8.2% Africa $57,600 $74,514 $35,525 -21.5% Europe $89,179 $79,819 $79,675 -5.5% South & Central $58,690 $46,156 $48,507 -9% America Asia $57,600 $49,909 $36,155 -20.7% 12

Global Results Product Marketing Salary Survey 2023 Salary by Median base salaries location To understand more about the experience of the typical product marketer, we turned to median salaries by region. Here, we wanted to determine the median salary for each region studied, to understand how it compares against the global median product marketing salary of $105,000 (the median salary ∆). Such is the strength of the North American (and, more specifically, the United States’) product marketing industry that it’s the only region that outperforms the global average when it comes to median income. North $134,725 +28% America Australasia -32% $70,828 Middle East -9% $95,767 Africa -70% $31,325 Europe -32% $70,400 South & Central -59% $43,500 America Asia -70% $31,325 -70% -60% -50% -40% -30% -20% -10% 0% +10% +20% +30% Median salary ∆ 13

Global Results Product Marketing Salary Survey 2023 Salary by Median earnings by country location Although looking at regional averages can be useful, more significant is the analysis of earnings by country. With this in mind, we’ve taken the ten most prominent countries for product marketers and calculated the median salary for each. But to develop an even more accurate picture of earnings by country, we’ve adjusted each nation’s median salary by purchasing power parity (PPP). This helps us to get an understanding of relative earnings when living costs are taken into consideration. Country Median salary PPP factor* PPP adjusted (local currency) median salary (USD) United States $140,000 N/A $140,000 United Kingdom £68,232 0.681 $100,155 Canada CA$139,958 1.225 $114247 India ₹2,497,795 24.059 $103,819 Germany €75,743 0.728 $104,042 Brazil R$161604 2.530 $63,875 Spain €55,879 0.608 $91,906 Netherlands €65,350 0.764 $85,523 France €68,239 0.701 $97,345 Australia A$108,945 1.419 $76,775 *Source: OECD/World Bank 14

Global Results Product Marketing Salary Survey 2023 Salary by Bonuses by region location There’s nothing better than getting a pat on the back for a job well done. And some companies show their gratitude via yearly bonuses. In line with 2022’s results, North America has taken the lead in awarding their PMMs impressive bonuses. Product marketers in North America can expect an average yearly bonus of $12,036. Coming in next is Australasia, offering an average yearly bonus of $5,872, then Europe with $5,404, and South & Central America with $4,897. 2021 2022 2023 $13,327 North America $12,884 $12,036 N/A Africa $8,000 $1,725 $6,527 Australasia $6,354 $5,872 South & Central $4,580 America $6,294 $4,897 $7,283 Europe $5,452 $5,404 $6,170 Asia $5,280 $2,738 $7,096 Middle East $5,244 $3,821 15

Global Results Product Marketing Salary Survey 2023 Salary by Stock allocation by region location Granting stock can be a great way to get employees fired up. But as we see in the data, there's no worldwide one-size-fits-all approach to employee equity schemes. Though it seems to be falling incrementally, North American organizations have granted the most stock in dollar terms for the past three years. Australasia, Asia, and Europe recorded averages around the $2,000 mark, while South & Central America and the Middle East fall slightly lower. PMMs in Africa are not typically granted equity. 2021 2022 2023 $14,977 North America $12,794 $10,085 $2,833 Middle East $5,285 $875 South & Central $7,813 America $3,958 $1,550 $8,062 Australasia $3,804 $2,000 $4,648 Europe $2,069 $2,192 $2,066 Asia $7,077 $2,804 N/A Africa N/A N/A 16

Global Results Product Marketing Salary Survey 2023 Salary by Salaries by US state location As North America continues to hold its status as the highest-earning region, we’ve provided some additional insight by laying out the average and median base salaries by state. The table below contains the 10 most prominent states for product marketing professionals, and the median salary ∆ has been calculated using the United States median salary of $140,000. "As a New Yorker, I can attest to the State Average salary Average salary Median salary Median salary Median salary rocky ride we've been on over the (2022) (2023) (2022) (2023) (∆) past few years. It's reassuring to see California $165,859 $171,506 $172,000 $175,000 25% we're back on the rise, considering the extremely high cost of living. Prior to Texas $140,206 $169,152 $130,000 $170,000 21% 2020, we were restricted to location- Massachusetts $152,029 $173,610 $150,000 $167,100 19% based roles, and with the rise of WFH, Washington $158,565 $181,200 $162,000 $164,000 17% the pool of companies and roles available has vastly increased." Wisconsin $123,785 $158,737 $135,000 $164,975 18% Matthew DePersis, Director, Virginia $138,000 $154,737 $128,500 $148,500 6% Product Marketing & Sales Strategy Colorado $144,295 $143,440 $140,000 $148,000 6% at Rakuten Rewards New York $169,478 $154,218 $150,000 $147,000 5% Oregon $116,666 $133,720 $142,000 $144,000 3% Illinois $131,834 $130,159 $130,000 $136,500 -3% 17

04 Job title and salary

Global Results Product Marketing Salary Survey 2023 Job title Naturally, we wanted to take a closer look at each of the most common product marketing job and salary titles to determine the extent to which seniority and experience correlate with salary. To begin with, let’s take a look at the most prominent job titles for product marketers. (People) Manager of Product Marketing 4.8% Associate Product Marketing Manager 4.8% Product Marketing Manager 42.9% VP of Product Marketing 4% Director of Product Marketing 14.4% Job title Senior Product Marketing Manager 23.4% 19

Global Results Product Marketing Salary Survey 2023 Job title Seniority and experience and salary Next, we wanted to look at the relationship between role seniority, VP of Product experience, and total compensation. Marketing $241,291 Director of Product Senior Product (People) Marketing Marketing Manager $180,873 Manager of Product $130,516 Marketing Product Marketing $124,417 Manager Associate Product $90,392 Marketing Manager $64,345 2 years 4 years 5.8 years 7.1 years 9.2 years 11.4 years Number of years of experience in product marketing The data points to a clear correlation between experience, seniority, and average compensation. For example, those in an Associate Product Marketing Manager role, with an average of two years of experience, earn around $64,345 in total compensation. This increases to $90,392 for PMMs who gain four years of experience and head into the role of Product Marketing Manager. A similar trend can be seen when we ascend the ladder to the level of director. A promotion from Senior PMM to Director of Product Marketing typically sees total compensation rise by 38.6%. And from Director of Product Marketing to VP of Product Marketing, with an extra 2.2 years of experience, product marketers see an average rise of $60,418 in total compensation. 20

Global Results Product Marketing Salary Survey 2023 Job title Median income by seniority level and salary Although total compensation can tell us a lot about the link between seniority and earnings, it’s important to also consider median salary within the context of job titles and experience levels. In keeping with the average compensation trend, we see a steady increase in median salary as we progress up the product marketing hierarchy. Where Associate PMMs typically earn 38% below the overall median, product marketers are the apex of their careers can find themselves earning almost twice the overall global median salary. Associate Product -38% $65,000 Marketing Manager Product Marketing -21% $82,000 Manager (People) Manager of $118,000 +12% Product Marketing Senior Product $125,000 +19% Marketing Manager Director of Product $160,000 +52% Marketing VP of Product $200,000 +90% Marketing -40% -20% 0% +20% +40% +60% +80% +100% Median salary ∆ 21

05 Industry and job role

Global Results Product Marketing Salary Survey 2023 Industry and Industry job role Both our 2021 and 2022 reports uncovered significant differences in PMM earnings across different industries, and we wanted to see if this was still the case in 2023. To do this, we looked at the top five industries (by number of respondents) to determine the median salary by sector. We then calculated both the year-on-year median salary growth, as well as the ∆ for each industry. Industry Median salary Median salary % annual Median 2022 2023 change salary ∆ Computer software $120,000 $115,000 -4% +9% Information technology and services $120,000 $106,750 -11% +2% Financial services $94,329 $102,000 +8% -3% Marketing and advertising $144,000 $92,700 -35% -11% Computer & network security $154,000 $140,000 -9% +33% Four of the five sectors recorded annual declines in median incomes, with only respondents in the financial services industry enjoying a year-on-year increase of 8%. Despite this annual increase, PMMs in the financial sector still report median incomes below the global average. The only other sector analyzed that reported a negative median salary ∆ was marketing and advertising, where the typical income was 11% less than the global product marketing median. 23

Global Results Product Marketing Salary Survey 2023 Industry and Customers served job role Much like last year, the majority of product marketers surveyed (75%) operate in the B2B space, where they receive an average total compensation of $122,900. This is 9% lower than last year but higher than those in B2C-facing companies, and PMMs working with both customer types. Both $114,159 21.8% B2B $122,900 75% B2C Type of $114,071 company 3.2% 24

Global Results Product Marketing Salary Survey 2023 Industry and Median incomes by sector job role Turning next to median salary, we found that respondents in the B2B space reported the highest median salary at $106,750, which is +1.6% above the overall product marketing median of $105,000. PMMs serving both (B2B & B2C) reported median incomes 6.4% below the overall figure, while B2C product marketers were found to have the lowest median salary at $93,000. Median salary increase/decrease $106,750 +1.6% $98,250 $106,750 -6.4% -11.43% B2B B2C Both Type of customers served 25

06 Company factors

Global Results Product Marketing Salary Survey 2023 Company Employee compensation is a custom fit – every organization has its own unique blend of factors factors shaping compensation and earnings strategies. Growth stage, annual revenue, location, and culture all contribute to pay scales. Early-stage startups may offer lower base pay, offset by more generous share schemes, while mature firms might have the cash to retain talent with higher base salaries. So, in this section, we wanted to focus on how the following factors can impact your salary: • Company growth stage, • PMM team size, • employee headcount, and • company revenue. 27

Global Results Product Marketing Salary Survey 2023 Company Company growth stage factors It’s often assumed that the more established a company becomes, the more generous it can be when it comes to employee compensation. But is this hypothesis consistent with the experience of product marketers globally? Early pre-product market fit Well-established 2.8% market leader $83,140 29.2% $134,258 Early post-product market fit 15.3% $119,617 Mid-growth Late growth/scale-up 33.5% 18.9% $116,389 $113,840 The short answer is: Partially. As we might expect, embryonic companies, at the early pre-product market fit stage, were found to be granting the smallest average compensation packages at just $83,140. Conversely, the most established businesses offer the highest average compensation, at $134,258. However, between those two extremes, we see little correlation between company growth stage and earning potential. 28

Global Results Product Marketing Salary Survey 2023 Company Median salary by company growth stage factors To test this assumption further, we turned to median salary to determine how much the typical product marketer is earning pre-tax at each company growth stage – and whether this has changed over a three-year period. Again, we can see that outside of the two extreme ends of the growth stage spectrum, there is little correlation between company maturity and earnings. 2021 2022 2023 Early $65,000 pre-product $99,000 market fit $84,025 Early $103,936 post-product $122,000 market fit $105,000 Mid-growth with $115,000 an established $110,000 go-to-market $104,000 team Late growth/ $111,000 scale-up $105,000 $93,640 Well-established $125,000 market leader $118,500 $115,000 $0 $25K $50K $75K $100K $125K Median salary 29

Global Results Product Marketing Salary Survey 2023 Company PMM team size factors When evaluating career options, department size can significantly influence earning potential. Some thrive in cozy, close-knit environments with a handful of colleagues. Others prefer the structure and resources of a massive corporation with larger team sizes. But which setting comes out on top for earnings? The data suggests that there might be a link between PMM team size and earnings, with respondents in teams of ten or fewer reporting median incomes lower than the overall product marketing average. By contrast, product marketers in teams of 50+ were found to be earning well above the global median, driven in part by an over-representation of more senior product marketers. Solo PMM -1.90% $103,000 2-5 -9.52% $95,000 6-10 -2.38% $102,500 11-20 $120,898 +15.14% 21-30 $129,000 +22.86% 31-50 -3.81% $101,000 51-100 $164,000 +56.19% 100+ $210,000 +100% 20% 0% +20% +40% +60% +80% +100% Median salary ∆ 30

Global Results Product Marketing Salary Survey 2023 Company Employee headcount factors Like PMM team size, does salary increase in line with the number of employees in a company? At the extreme ends of the spectrum, we can see a correlation between company headcount and salary, with employees at micro-businesses recording median earnings 36% below the global average. This contrasts sharply with the experience of PMMs at organizations with over 10,000 employees, who reported a median income of $135,000, well above the global average. However, looking beyond the two polar ends of the employee headcount scale, there’s nothing to suggest that earnings rise in line with a business’ total headcount. 1-10 -36.19% $67,000 11-50 -15.33% $88,900 51-200 -1.90% $103,000 201-500 $106,000 +0.95% 501-1,000 $115,000 +9.52% 1,001-5,000 $110,000 +4.76% 5,001-10,000 -13.81% $90,500 10,000+ $135,000 +28.57% -40% -30% -20% -10% 0% +10% +20% +30% +40% Median salary ∆ 31

Global Results Product Marketing Salary Survey 2023 Company Company revenue factors We wanted to take a look at the role company revenue plays in all of this. Do those super high- earners pay their employees more, provide meatier bonuses, or grant more generous amounts of stock? Again, at the extreme ends of the spectrum, we can see a clear link between company revenue and average earnings. Product marketers at very small organizations receive by far the lowest average bonuses and annual salaries, whereas respondents from $2BN+ companies reported the highest salaries, bonuses, and stock allocations. However, average compensation does not appear to progress linearly in line with company revenue. This is most apparent when we isolate PMMs who work at businesses with revenues between $1BN and $2BN, who reported the second-lowest annual compensation packages. Company revenue Avg. total compensation Avg. bonus Avg. stock Median salary $2BN $165,310 $16,524 $15,734 $133,500 Private company $118,315 $5,510 $5,668 $115,000 32

Global Results Product Marketing Salary Survey 2023 Company Does company size really matter? factors We’ve assessed the relationship between company size and average earnings from a number of angles, and each time we’ve reached the same conclusion: Size does matter, but only at the extreme ends of the spectrum. Product marketers at very small companies are typically earning less than their counterparts at more established organizations – whereas PMMs at large/multinational companies earn significantly more than the global average. But that’s where the correlation ceases. Across the spectrum of mid-sized companies, we were unable to detect a strong link between organizational scale and earning potential. This would suggest that once a business reaches a certain level of maturity, its size and composition have little bearing on the size of the salaries it awards. 33

07 Support from the C-suite

Global Results Product Marketing Salary Survey 2023 Support from Support is subjective. Many associate support with pay – the more I’m paid the more I’m the C-suite supported. Whereas others see it as support with their workload – how they’re able to create a work-life balance or achieve their professional goals. When it comes to measuring C-suite support, we wanted to answer two questions: Do product marketers feel supported? And is there a correlation between perceived support and annual compensation? 35

Global Results Product Marketing Salary Survey 2023 Support from Encouragingly, an overwhelming majority of product marketers in each of the job titles we the C-suite examined noted that they do feel supported by senior leadership. However, there doesn’t appear to be a correlation between perceived support and average compensation. Across the six seniority levels studied, product marketers who do feel supported averaged $121,000 in compensation, compared with $120,755 for respondents who do not feel supported by the C-suite. % of PMMs who feel supported (Median salary) % of PMMs who don’t feel supported (Median salary) 71% - €53,381 Associate Product 75% - $68,476 Marketing Manager 29% - €38,220 25% - $61,697 65% - $88,494 Product Marketing 65% - €59,228 Manager 35% - $93,978 35% - €67,625 76% - $134,873 Senior Product 63% - €90,205 Marketing Manager 24% - $119,880 37% - €81,207 (People) Manager of 70% - $117,117 Product Marketing 30% - $142,142 Director of Product 66% - $186,378 Marketing 34% - $169,863 47% - €125,296 VP of Product 68% - $217,353 Marketing 32% - $289,166 0% 20% 40% 60% 80% 100% 36

08 Inclusivity and pay

Global Results Product Marketing Salary Survey 2023 Inclusivity This year, we're taking a closer look at diversity and inclusion as it relates to salaries and earnings. and pay We analyzed the data across four factors: 1. Whether folks consider themselves a minority 2. Gender identity 3. Ethnicity 4. Disability status, visible or not While not fully representative, these insights reveal some key trends around pay equity for survey participants based on factors related to identity. However, we acknowledge limitations in drawing broad conclusions from this data sample alone. 38

Global Results Product Marketing Salary Survey 2023 Inclusivity Product marketers who consider themselves minorities and pay When we asked folks whether they consider themselves a minority in any way, 32.1% said yes and 67.9% said no. Those who identified as a minority reported higher earnings across the board. Their average total compensation was $133,058, a massive $18,418 higher than those who do not consider themselves to be a minority. It was a similar story when it came to median salary. Minority respondents reported median earnings 12.3% higher than the overall global product marketing median salary. Yes (29.9%) 2022 Yes (32.1%) 2023 No (70.1%) 2022 No (67.9%) 2023 Median salary $120,000 $118,000 $111,000 $97,916 Avg. salary $126,443 $118,984 $116,571 $105,836 Total (salary, bonuses, stock) $144,946 $133,058 $136,310 $114,640 Yearly bonus $11,629 $9,923 $10,061 $7,941 Yearly granted stock $11,913 $10,955 $8,385 $4,846 39

Global Results Product Marketing Salary Survey 2023 Inclusivity Gender and pay The gender pay gap regrettably remains a reality in 2023. For those who identify as female, this is a persistent struggle and a phenomenon that needs more consideration. With this ongoing inequality so prevalent around the world, we were keen to see if the gender pay gap remains a feature of the product marketing compensation landscape in 2023. Identified as non-binary Preferred not to disclose 1.2% 1.4% Male 35.7% Female 62.4% We did not receive sufficient sample sizes to accurately analyze the compensation packages of respondents who identify as non-binary, or who preferred not to reveal their gender identity. For this reason, our analysis of gender pay focuses on respondents who identified as either male or female. 40

Global Results Product Marketing Salary Survey 2023 Inclusivity Are there more male or female PMMs? and pay We began our analysis of gender pay disparities by segmenting respondents by gender identification to quantify the male-female ratio within each job title. We found that females unsurprisingly made up the majority of participants across most job title groupings. The notable exception was at the VP of Product Marketing level (the most lucrative product marketing position), where there’s an even split between males and females. % of males % of females 64.5% 66.7% 65.2% 54.2% 58.3% 50% 50% 45.8% 41.7% 33.2% 31.6% 33.3% Associate Product Senior (People) Director VP of Product Marketing Product Manager of Product Product Marketing Manager Marketing of Product Marketing Marketing Manager Manager Marketing NB: Those who identify as non-binary or answered “prefer not to say” aren’t included in this section. 41

Global Results Product Marketing Salary Survey 2023 Inclusivity Is there a gender pay gap in product marketing? and pay To determine whether pay inequity remains a feature of the product marketing landscape, we began by looking at average total compensation by gender over the last three years. The data suggests that while the earnings gap has narrowed sharply in recent years, the establishment of greater pay equality within the industry has been driven more by a decline in male earnings than by a rise in female compensation. 2021 2022 2023 $129,970 $134,611 $119,800 $145,741 $139,636 $120,908 Female Male Average total compensation 42

Global Results Product Marketing Salary Survey 2023 Inclusivity Median salary by gender and pay Next, we turned to median salary to further understand the gender dynamics of product marketing compensation. Intriguingly, where we saw an earnings gap of less than 1% when we looked at average compensation, the pay gap widened to 8% in 2023 when we analyzed median salary in isolation. This is higher than the median pay gaps recorded in 2022 (5.75%) and 2021 (6.9%), suggesting that the earnings gap is widening when it comes to the typical base salary. This divergence between average compensation and median earnings can be explained by the fact that 2023 has seen a rise in the number of very high earners who identify as female. 2021 2022 2023 $112,250 $113,000 $100,000 $120,000 $119,500 $108,000 Female Male Median salary 43

Global Results Product Marketing Salary Survey 2023 Inclusivity Gender salaries by region and pay Given that our global data presents a mixed picture of the gender dynamics of product marketing earnings, we decided to look at the compensation gap between male and female respondents on a regional level. Our findings show that female product marketers based in Asia and Africa are actually enjoying higher average earnings than their male counterparts. However, in every other region, males continue to receive higher average compensation packages, with the most extreme gap being found in Australia at a staggering -36.9%. Country Avg. total compensation Avg. total compensation Pay gap % (men) (women) Africa $33,100 $37,950 +14.6% Asia $32,715 $38,146 +16.6% Australasia $129,825 $81,833 -36.9% Europe $83,056 $77,213 -7% Middle East $89,333 $88,982 -0.39% North America $161,039 $152,704 -5.1% South & Central America $59,833 $43,652 -27% 44

Global Results Product Marketing Salary Survey 2023 Inclusivity Regional median earnings by gender and pay But what about when we look at median, pre-tax base salaries by region? Although we see a similarly large pay gap in Australasia at 32.4%, gender pay disparities appear to narrow in Europe (3.5%) and North America (1.2%) when we consider median salary in isolation. Region Median salary (men) Median salary (women) Pay gap % Africa $27,804 $34,500 +24% Asia $31,351 $31,300 -0.16% Australasia $104,825 $70,828 -32.4% Europe $71,500 $69,000 -3.5% Middle East $120,000 $93,000 -22.5% North America $135,250 $133,500 -1.29% South & Central America $48,828 $40,355 -17.35% 45

Global Results Product Marketing Salary Survey 2023 Inclusivity Gender and job title and pay To develop a clearer understanding of the factors impacting gender pay disparities, we decided to look at the differences between male and female pay across different seniority levels. To do this, we looked at gender differences in average total compensation and median salary across 6 different role levels. Beginning with average total compensation, we see significant pay disparities at the upper and lower ends of the seniority spectrum, with male Associate PMMs and VPs making roughly 19% more than their female equivalents on average. However, when it comes to the PMM and Senior PMM levels (the largest groups in the study), the pay gap vanishes to just 0.9% and 1.6% respectively. And at the (People) Manager of Product Marketing and Director of Product Marketing levels, we found that female respondents were recording higher levels of total compensation than their male counterparts. $214,555 $300k females males $268,027 -19.9% $250k $183,006 $174,440 $200k +4.9% $130,260 $133,785 $132,353 $111,300 $150k $88,590 -1.58% +20.2% $59,795 $89,399 $74,249 -0.9% $100k -19.4% $50k Associate Product Senior (People) Director VP of Product Product Marketing Product Manager of Product Marketing Marketing Manager Marketing of Product Marketing Manager Manager Marketing 46

Global Results Product Marketing Salary Survey 2023 Inclusivity Median salary by seniority and pay When assessing median salary, we saw a similar trend, with females at mid-seniority levels (PMM, Senior PMM, People Manager) receiving higher median incomes. In fact, it was only at the Associate PMM (-31.6%) and Director (-8.2%) levels where male median incomes were higher than those of female respondents. The data suggests that while there is a significant overall median gender pay gap within the product marketing industry, the disparities between male and female earnings are far less pronounced within most individual seniority levels. $200,000 females males $190,000 +5.2% $200k $155,000 $169,000 -8.2% $175k $130,000 $135,000 $150k $115,000 $109,000 +13% +23% $125k $54,700 $82,000 $100k $80,000 $81,392 -31.6% +0.75% $75k $50k Associate Product Senior (People) Director VP of Product Product Marketing Product Manager of Product Marketing Marketing Manager Marketing of Product Marketing Manager Manager Marketing 47

Global Results Product Marketing Salary Survey 2023 Inclusivity Ethnic group and pay Turning next to ethnicity, we asked respondents to select the ethnic group with which they most identify. To determine the impact of race and ethnicity on earnings, we looked at median salaries across each ethnic group. We then calculated year-on-year changes in reported earnings, before comparing each group’s median salary against the overall product marketing median to produce a delta (∆) for each ethnicity grouping. The highest median salaries were reported by respondents identifying as East Asian ($127,750) and Multiracial (White and Asian) ($137,750), with the latter group seeing a 27% year-on-year increase in earnings. Multiracial (White and Black) respondents also saw a significant annual increase in median pay (+35%), reporting a median salary of $120,000, 14% higher than the overall median. South Asian respondents reported the biggest annual drop in earnings, down 27.4% in 2023 to just $72,594 – the lowest of the ethnic groups analyzed in this study. Avg. total Median Median Ethnicity % of PMMs compensation Median salary salary annual salary ∆ change White 67% $123,874 $107,000 -6.9% +1.9% South Asian 10% $100,385 $72,594 -27.4% -30.8% Other - ethnicity not listed 6.8% $102,062 $94,000 -14.5% -10.5% East Asian 4% $143,352 $127,750 -5.3% +21.6% Multiracial - other 3.2% $132,978 $115,000 +4.5% +9.5% background not specified Black 2.6% $109,236 $96,500 -0.5% -8.1% Other - Asian background 2% $129,575 $107,500 -14% +2.3% Multiracial - White and Asian 1.6% $163,675 $137,500 +27.9% +30.9% Multiracial - White and Black 1% $108,600 $120,000 +35.5% +14.2% 48

Global Results Product Marketing Salary Survey 2023 Inclusivity Disability (visible or invisible) and pay The percentage of participants who said “yes” to having a disability – whether visible or invisible – was 7.8%, compared to 90.6% who said “no,” and 1.6% who said “prefer not to say.” We found that those who said they do have a disability are earning more in average base salary ($134,123) and are granted more stock ($10,274) than those who said they don’t have a disability. However, participants who said they don’t have a disability receive, on average, higher bonuses. Yes No Total compensation $147,536 $117,435 Avg. base salary $134,123 $107,523 Annual bonuses $7,840 $8,670 Stock granted $10,274 $6,511 $0 $40K $80K $120K $160K 49

09 Company culture

Global Results Product Marketing Salary Survey 2023 Company Our analysis revealed that the highest average base salaries belonged to product marketers culture in product-first companies at $114,368. This aligns with last year's findings, suggesting that product-first environments are the most lucrative for product marketers. Meanwhile, the lowest average salary emerged among product marketers in marketing-first companies at $97,758 per year. This differs from last year when marketing-first companies were offering $115,445 per year, and sales-first companies earned the lowest base salary ($113,125). Company culture Avg. base salary 2021 Avg. base salary 2022 Avg. base salary 2023 Product-first $123,389 $124,972 $114,368 Customer-first $122,269 $118,635 $103,846 Sales-first $113,818 $113,125 $111,136 Marketing-first $106,757 $115,445 $97,758 $0 $25K $50K $75K $100K $125K 51

Global Results Product Marketing Salary Survey 2023 Company Who do product marketers report to? culture Depending on various factors – including job title, industry, company size, and culture – PMMs report to a range of different departments. The most common of these are Marketing, Product, Business Development, and the C-suite. Despite seeing a year-on-year decrease of 8.3%, respondents reporting into marketing continue to enjoy the highest incomes at $110,000, followed by those reporting into product ($93,640) whose incomes remained largely stable year-on-year. Perhaps surprisingly, product marketers reporting directly into the C-suite reported earnings significantly below the overall product marketing median salary. Who do PMMs report to? % of PMMs Median Salary Median Salary Annual (2022) (2023) change % Marketing 69% $120,000 $110,000 -8.3% Product 16% $96,000 $93,640 -2.4% C-suite / CEO 11% $96,000 $90,000 -6.2% Business Development 2% $86,500 $56,063 -35% 52

10 Personal experience and current role

Global Results Product Marketing Salary Survey 2023 Personal With age comes wisdom, and a higher salary (?). This is what we wanted to know from our PMMs – experience and does the length of time spent in the industry increase your pay? Looking at the data, the answer is clear – the more experience you gain, the higher your earning current role potential. This steady increase is evident as we see those with zero years of experience earn an average salary of $74,103. This increases to a $90,877 yearly average salary for PMMs with 1-5 years of experience. Then we see a steep increase in average base salary, up to $137,093 for people with 6-10 years under their belt. This trend continues up until the 16-20 year mark, with PMMs taking home $173,810 a year in base salary – a $190,000 median salary. Unsurprisingly, PMMs who hold over 20 years of experience earn the most in terms of average salary ($181,800) and median salary ($203,000). Avg. base salary $203,000 Median base salary $170,000 $190,000 $165,182 $173,810 $181,800 $139,500 $137,093 $74,103 $90,877 $90,000 $58,760 0 1-5 6-10 11-15 16-20 20+ Number of years of experience in product marketing 54

Global Results Product Marketing Salary Survey 2023 Personal To certify, or not to certify? experience and Now, as you may know, we’re big on certifications. But does it pay to certify? current role In 2021, we found that 36% of PMMs held a product marketing certification, and were earning $120,912 on average. Last year, the number of respondents with a certification fell to 34%, but earnings rose to $124,282. In 2023, we’re pleased to report that the number of PMMs with a product marketing certification has jumped to 41.9%. And with an average base salary of $117,241, certified PMMs are earning 12% more than their colleagues without a formal certification. Yes 41.9% $117,241 PMM certified? No 58.1% $104,626 55

Global Results Product Marketing Salary Survey 2023 Personal Education level experience and It came as no surprise to learn that certified PMMs are, on average, earning more than their peers. But current role what’s the wider impact of educational attainment on product marketing salaries? We found that just over half of respondents have a bachelor’s degree as their highest education level, and are earning a median salary of $111,596. This compares favorably against product marketers educated to master’s degree level, who reported a median base salary of $96,750. The highest earners, however, were those with a doctoral degree, with a median salary of $125,520, almost 20% above the overall median product marketing income. Product marketers without a formal college education fared the worst, with a median income of $75,400. I didn’t go to college Doctorate 3.6% 1.8% $75,400 $125,520 Bachelor’s 50.7% Level of $111,596 education Master’s 43.5% $96,750 56

Global Results Product Marketing Salary Survey 2023 Personal Direct reports experience and Logic suggests that PMMs who take on more managerial duties and responsibilities will see an increase in compensation. To test this hypothesis, we asked product marketers to outline their base current role salary and number of direct reports. The data suggests that there is correlation between managerial responsibility and median earnings. Individual contributors reported the lowest median salary, at $97,000, and the highest earners were found to be those managing 11+ people ($165,000). Between the two extremes, however, there doesn’t appear to be a clear link between number of reports and earning potential. Those managing between 1 and 10 people reported similar base salaries. $165,000 $128,440 $125,500 $97,000 $110,000 0 1-2 3-5 6-10 11+ Number of direct reports 57

Global Results Product Marketing Salary Survey 2023 Personal Number of products managed experience and Unlike educational attainment and number of direct reports, we were unable to detect a correlation between base salaries and the number of products managed. We can see a clear outlier for PMMs current role managing 9 products, who earn $245,125 in total compensation, however, the data would suggest that taking on more products does not necessarily lead to increases in compensation and that other factors have far more bearing on earning potential. Median base salary Average total compensation 1 $103,000 $113,694 2 $103,500 $118,200 3 $97,500 $120,351 4 $87,827 $120,587 5 $106,500 $124,865 6 $123,000 $128,491 Number of products managed7 $125,000 $125,663 8 $93,391 $102,468 9 $156,000 $245,125 10 $106,000 $126,897 58

Global Results Product Marketing Salary Survey 2023 Personal Working hours experience and A healthy work-life balance is key in every role – no one wants to experience burnout, on an individual level or from a company’s perspective. It’s easy to work more than you’re contractually obligated to, current role particularly if you’re passionate. So what does the data say – do our PMMs, on average, work more than their contracts dictate? And do longer working hours lead to higher pay? At a glimpse: • Most contracted hours: Israeli PMMs are contracted to work the most hours on average. • Least contracted hours: Australians are contracted to work the fewest hours on average. • Most actual hours worked: German product marketers work the longest hours on average. • Least actual hours worked: Polish PMMs work the fewest hours on average. PMMs in Israel are contracted to work the highest number of hours at 44 hours per week and earn a median base salary of $95,768. Product marketers in India earn the lowest median base salary ($30,000) and work on average 44.4 hours per week. The lowest number of hours contracted to work are product marketers working in Australia, where the average is 38.7 hours, however, PMMs report to actually work for an average of 42.9 hours per week. Product marketers in Germany report working, on average, 47.3 hours per week, the highest out of our PMMs surveyed, and earn $80,000. Our top-earning product marketers, by a mile, are those working in the United States, as they rake in a median base salary of $140,000 per year, are contracted to work 39.4 hours per week, and report to work 43.6 hours per week on average. 59

Global Results Product Marketing Salary Survey 2023 Personal Country Avg. # hours you’re Avg. # hours you Median base experience and contracted to work actually work salary current role Australia 38.7 42.9 $70,819 Brazil 40.3 42.5 $33,000 Canada 39.9 43.2 $102,000 France 39 42.5 $67,354 Germany 39.9 47.3 $80,000 India 43.7 44.4 $30,000 Israel 44 43.3 $95,768 Netherlands 39.8 43.4 $64,500 Poland 40 37 $33,000 Spain 40 44.6 $59,000 United Kingdom 45.8 45.3 $84,687 United States 39.4 43.6 $140,000 NB: we’ve only used data from countries with a sufficient sample size – if a country isn’t listed, it’s because there wasn’t enough information to provide an accurate representation. 60

Global Results Product Marketing Salary Survey 2023 Personal Office-based versus remote experience and In 2022, 60.5% of PMMs reported working remotely. Despite a concerted effort by many high-profile companies to encourage a return to the office, over half of product marketers are still working in a current role fully remote capacity in 2023, with a further 43.6% splitting their time between home and the office. This means that just under 5% of product marketers are now fully office-based. What does this mean financially? PMMs working in a fully remote capacity were found to have the highest median salary at $120,000, followed by hybrid workers who reported a median income of $90,000. The lowest-earners were those who spend 100% of their time in the office ($53,996) – however, it’s worth noting that respondents from this group were also more likely to work for start-up organizations that typically pay less. Always in the office 4.4% $53,996 Remotely and in the office 43.6% $90,000 Always remote 51.9% $120,000 This data illustrates how work modalities are reshaping salary structures in the evolving work landscape. Remote and hybrid work models are not just about location flexibility; they're also influencing how companies value and compensate for different roles, reflecting broader shifts in work culture and employee expectations. 61

11 Salary satisfaction

Global Results Product Marketing Salary Survey 2023 Salary After exploring – in depth – how various environmental, personal, and professional factors impact satisfaction product marketers’ salaries throughout the world, a critical question emerges: How satisfied are PMMs with their current compensation levels? To investigate, we evaluated the correlation between reported earnings and subjective happiness with pay. Encouragingly, a majority of respondents (55%) rated their salary satisfaction at a 7 or higher, with less than 20% rating it as a four or lower. At the upper end of the scale, we can see a link between satisfaction and median earnings, with respondents selecting 8 and above reporting the highest incomes, well above the global median salary. However, lower down the satisfaction scale, the link between happiness and earnings is less clear. PMMs who rated their salary satisfaction at a 5 or 6 were actually found to be earning less than those who went as low as 1 or 2. 25 20 15 % of PMMs10 5 0 1 2 3 4 5 6 7 8 9 10 $75,000 $107,000 $98,750 $76,294 $81,500 $94,000 $81,728 $95,000 $122,000 $150,000 $161,000 Salary and salary satisfaction 63

Global Results Product Marketing Salary Survey 2023 Salary As we noted above – money isn’t everything. Many people place higher importance on benefits satisfaction that aren’t closely related to salary. So, beyond higher rates of pay, what could companies do to improve their employees’ contentment? Here were some of the most common benefits we found: Professional development reimbursement 4-day work week Car allowance or company car Childcare support Increased retirement contribution Better health insurance More predictability Fertility coverage Pre-tax benefits More paid time off Flexible hours Gym membership 64

12 Career aspirations and stability

Global Results Product Marketing Salary Survey 2023 Career Happy where you are or seeking new ventures? aspirations Since a number of respondents noted that they aren't entirely satisfied with their current compensation, and noted certain benefits that’d improve their contentment, we thought it’d be and stability helpful to learn whether or not they’re on the job hunt. A little under a fifth of respondents stated that they were actively looking for a new job (up from 14% last year), with a further 43% claiming that they were open to opportunities, depending on the position. Unsurprisingly, the group with the highest median income consisted of respondents who are happy to remain in their current role ($113,000). Maybe, depends on the position 43.1% No $97,000 38.1% $113,000 Yes 18.8% $109,186 Looking for a new job? 66

Global Results Product Marketing Salary Survey 2023 Career Career aspirations aspirations With over 60% of PMMs saying they’d be open to a new job, we wanted to know more about and stability their career aspirations. Almost half of PMMs said they’d like to remain with their current employer, but progress up the product marketing career ladder, with a further 14.8% stating that they’d be happy to remain in their current role at the same organization. Unsurprisingly, this latter group reported the highest median base salary, at $115,000. Those seeking to remain with their current company but change role were found to have the lowest median earnings at $69,345, well below the next lowest-earning group, those who progress within their current organization, who reported a median salary of $97,000. Prefer not to say Stay at company but 6% move department $107,025 3.4% $69,345 Change company Stay but progress and role 46.5% 8.8% $97,500 $104,788 Move company but keep role 20.4% $112,000 Stay and keep role 14.8% $115,000 67

Global Results Product Marketing Salary Survey 2023 Career Do product marketers feel valued? aspirations Perception is everything. And with some PMMs saying they’re looking for work elsewhere, and have career aspirations that are either in a different role, different company, or different department, we and stability thought we’d see if they feel as though their salary reflects the value that they bring to the table. We can see that, at the time the data was collected, a majority of product marketers agreed that their compensation accurately reflected their value. Those who answered “yes” and “for now” reported the highest earnings across the board, with respondents in the former group recording earnings well in excess of the global average across salary, bonus, and stock allocation. Does your salary % of Avg. total Avg. base Avg. annual Avg. stock Median reflect your role? PMMs compensation salary bonus awarded salary Yes 35.3% $148,528 $133,828 $11,200 $11,994 $130,500 No 36% $106,264 $97,813 $8,397 $3,769 $90,000 For now, but I 35.3% $113,937 $104,602 $6,703 $5,995 $96,250 expect a raise soon "The data on global salary averages dropping year-on-year is unsurprising given the macro shifts in the tech sector. With the multitude of layoffs happening over the past year, I know many peers who were let go and ended up in opportunities that were lateral moves at best or felt they had little negotiation power during a time when there were so many other experienced candidates vying for the same role." Kevin Chan, Director of Product Marketing at Fleetio 68

13 Conclusion

Global Results Product Marketing Salary Survey 2023 Conclusion So, what does this all mean for you? Geographical location continues to be the biggest indicator of earning potential. Even when we adjust for PPP, product marketers in the United States out-earn their global counterparts by a considerable margin – and there are no signs that this will change anytime soon. Where average compensation fell year-on-year across every continent, earnings remained relatively stable in North America, pointing to the region’s economic resilience and dynamism. But location is far from the only factor found to have a substantial impact on incomes. We saw a clear correlation between seniority and average salary, suggesting that – no matter where you are in the world – higher earnings can be gained by progressing up the chain of command. Similarly, we observed an undeniable link between years of experience and annual compensation. Surprisingly, though, we didn’t observe a positive correlation between company size and earning potential. Although salaries were found to be lower at very early-stage companies (and higher at very large organizations), the data stopped short of suggesting that average earnings rise in line with indicators like company revenue, department size, and employee headcount. We found that while the gender pay gap is closing, there’s still work to be done – particularly in places like Australasia and South & Central America. Although the divergence between male and female total compensation has closed substantially year-on-year, this narrowing of the gap is in large part due to a decline in male earnings. Going forward, we would instead like to see gender pay equity achieved through an increase in female earnings. More encouragingly, however, most product marketers feel satisfied and valued in their roles. The data showed a continued upward trend in job contentment from last year. With the bulk of our lives spent working, feeling appreciated and fulfilled professionally is crucial. We learned that compensation is, of course, essential, but it doesn't solely dictate job satisfaction. Fair pay that reflects individual merit remains imperative, but purpose, growth, and corporate culture are also vital. As the field expands worldwide, we hope this survey provides a useful benchmark both for evaluating product marketer incomes and shaping more equitable, inspiring workplaces everywhere! 70

Global Results Product Marketing Salary Survey 2023 Conclusion The salary calculator Ready to discover how your salary compares with other product marketers around the world? Check out our salary calculator by clicking the laptop below, and unlock a wealth of information that’ll help you understand how your salary measures up. 71

Global Results Product Marketing Salary Survey 2023 Conclusion Contributors Stevie Langford Senior Copywriter As a Senior Copywriter here at Product Marketing Alliance, Stevie loves to create content that's captivating, compelling, and informative. She's always open to new ideas, so feel free to get in touch! Richard King Founder of Product Marketing Alliance Rich is the Founder of Product Marketing Alliance and is at the helm of our voyage to elevate the PMM role worldwide. He’s responsible for what happens next with the community, so if you’d like to have your say, don’t hesitate to get in touch – Rich is always open to invaluable feedback and ideas. Jon Sayer Graphic Designer Jon is our graphic designer and looks at all our design requirements. He’s responsible for the layout and visual elements in this report and is always happy to hear your thoughts! 72

Global Results Product Marketing Salary Survey 2023 73