Indian


Product Managers’
Salaries
2022
 2

CONTENTS
Overview

The Basics

Deep Dive

Company Level Information

Conclusion
Overview
On 23rd February, via campaigns on Twitter, we started asking PMs
to fill out a form about their data for us to be able to build a report on
how salaries look like in India, for PMs at various levels.

Why is this report needed?

No platform online is currently setting the context in terms of what is
the right pay for a particular PM depending on their skill sets, years
of experience, industry interest, and certain attributes in the market.

The data that platforms like Glassdoor have aggregated is outdated

and is not relevant anymore.

Disclaimer
This report has been created based on the 550 data points we've
received from the community anonymously. They might vary from
the actual market scenario. 


Please reach out to us on our slack community if you have any
queries.
 3

FAQ
There are some burning questions that a PM thinks about. Few
questions are :

1 Is Prior Experience in a different field helpful?

2 Is an MBA important to be a Product Manager?

3 Do I need to be from an IIT/IIM to break into Product?

4 Does an IIT/IIM degree guarantee a higher pay?

What are the standard vesting periods accepted industry-

5 wide?

6 Is the industry biased towards Engineers?

7 Is there a Gender Disparity in pay?

01
THE

BASICS

The Product Folks

 5

BASICS

Gender Ratio of 

the form filling

16.7%
Female

83.3%
Male
 6

BASICS

Compensation

1 Base Pay

2 Bonuses

3 ESOPs (Employee Stock Options)

Note:

Where we talk about ‘Years of Experience’, until explicitly called out


is referring to the Product Experience that the PM has.
 7

Base Pay

80

60
Base Pay (in Lakhs)

40

20

0
0
1
2
3
4
5
6
7
8
9
10

Years of Experience
Median Mean
Table for better clarity:

Years Survey Entries Median (in LPA) Mean (in LPA)

 8

Bonus

30
Current Company Pay/Bonus (in Lakhs)

25

20

15

10

0
0 2 4 6 8 10 12 14+

Relevant Exprience Years

Bonus (in Lakhs)

125
Current Company ESOPs (in Lakhs)

100

75

50

25

0
0 2 4 6 8 10 12 14+

Total Amount
 9

BASICS

Job Titles & Pay

Job Title Median Pay (in LPA) Mean Pay (in LPA)

Product Intern 3 4.5

Product Analyst 11.75 13.8

Associate Product
15 15.1
Manger

Product Manager 22 23.5

Senior Product 35 36.1

Manager

Group PM/Principal 37.5 33.7

PM

Associate Director/ 55 64.8

Director

Vice President 78 91.6

Chief Product Officer 65 65

02
DEEP

DIVE

The Product Folks

 11

DEEP DIVE

PM Pay

35

30
Average Pay (in Lakhs)

25

20

15

10
0 1 2 3 4

Years of Experience

Median Mean
 12

DEEP DIVE

Previous Experience

Holding PM Pay

80

60
Average Basic Pay (in Lakhs)

40

20

0
0 2 4 6 8 10

Previous Years of Experience

Software Engineer Data Analyst Business Consulting

 13

DEEP DIVE

Gender-Based Pay Gap

60

50
Average Basic Pay (in Lakhs)

40

30

20

10
0 4 6 8 10

Relevant Experience (in Years)

Male Female
 14

DEEP DIVE

Formal Education 

Relevance

Non-MBA
36%

MBA
64%
 15

DEEP DIVE

Formal Education 

Relevance

80

60
Average Basic Pay (in Lakhs)

36%
40

64%
20

0
0 1 2 3 4 5 6 7 8 9 10

Years of Experience

MBA Non MBA

 16

DEEP DIVE

Formal Education 

Relevance

36% Tier 2

& 

46% Tier3
64%
54%
Tier 1
 17

DEEP DIVE

Formal Education 

Relevance

80

60
Average Basic Pay (in Lakhs)

36%
40

20
64%

0
0 2 4 6 8 10

Years of Experience

Tier 1 Other Tiers

 18
DEEP DIVE

Sector Wise - Pay 


Distribution

40
Average Basic Pay (in Lakhs)

30

26 27
20 25 25 25
22 21
18
10 15
12

0
FinTech Information
 EdTech E-commerece Healthcare
Technology
Sector
Male Female
 19

DEEP DIVE

Wealth Creation: 

ESOPs
 20

DEEP DIVE

Wealth Creation:

ESOPs

20

15
Avg ESOPs (in Lakhs)

10

36%
1-10 11-100 101-500 501-1000 1001-5000 5000+

Employee Size

64%
50
Avg ESOPs (in Lakhs)

40

30

20

10

0
0-10 11-100 101-500 500-1000 1000-5000 5000+

Valuation (in Mil)

03
COMPANY

LEVEL

INFORMATION

The Product Folks

 22

Few Top Paying

Companies
For Entry Levels Roles (0-3
years of experience)
Accenture
Dr.Reddys

AdYogi
Dunzo

Agritech
EdCast

Airtel
Eightfold

Amazon
Encora Innovation Labs

Apollo 247
First American India

Asian Paints
Flipkart

Ather
Forbes Advisor

Attentive
Freshworks

Bajaj Finserv Health

FrontRow

Bayzat
GE Healthcare

Bidgley
Glance

Blibli.com
GoIbibo

BYJU’S
Gojek

Capital Float
Goodera

Chargebee
Google

CRED
Grofers

CredAvenue
Groww

CreditMantri
Harappa Education

Crejo.fun
Hashedin by Deloitte

D. E. Shaw India
HDFC BANK

Dataorb
HealthifyMe

Deloitte Digital Helpshift

For Entry Levels Roles (0-3 23
years of experience)

Hotstar
MX Player

Hubilo
Myntra

InCred Financial Services Limited

NBFC

INDMoney
NetApp

InMobi
NIRA

Innovaccer
Nium

Junglee Games
Nykaa

Jupiter
Oaknorth

Justdial
OLA

Kaleidofin
Olam

Karza Technologies
OnJuno

Khatabook
Open Financial Technologies

Lead School
Oracle

Leucine
Paypal

Licious
Paysafe

Lila Games
Paytm

LimeChat
PeopleGrove

Loadshare Networks
PhonePe

Log 9 Materials
Pine Labs

Lookout
Prodigal

Loop Health
Publicis Sapient

Lynk Global
Rakuten

Magicbricks Realty Pvt. Ltd.

Razorpay

Meesho
Rebel Foods

mewt
Robosoft Technologies

Micro Mobility Sector

Samsung

Microsoft
Schneider Electric

Miko
Setu

Mobile Premier League

Shipsy

MPL SIXT

Skit

For Entry Levels Roles (0-3 24

years of experience)

Skylark Drones

Soroco

Spinny

Sprinklr

SuperOps.ai

Tata CLiQ

Teachmint

Times Internet Limited

Trell

Trukker

Uber

Udaan

UHG

Unacademy

Upstox

Velocity

VI

VMock

Walmart

Wells Fargo

Zeta
 25

Few Top Paying

Companies
For High Level Roles (3+
years of experience)

Accenture
Groupon

ACKO
HappyFresh

Acquia
Indeed

Adio
Innovaccer

Airbase Inc
Juspay

Airtel
Kuliza Technologies

Amazon
Lazypay

Amex
Lenskart

AuthorCafé
Line Financial PBC

Blackhawk Network
Max life insurance

Blueshift
Metal

Chargebee
Microsoft

Contentserv
MPL

Cred
Mr.Cooper

Credit Suisse
NetApp

D. E. Shaw
Nykaa

Dhanistha Technologies
OLA

FinTech Sector
Oracle

Flipkart
PayPal

Freshworks
Paytm

Gaana
PayU

Globussoft
Pine Labs

GoKwik
QZ.com (Digital news)

Goldman Sachs
Rain

Google
Rapido

For High Level Roles (3+ 26

years of experience)

Razorpay

Reliance Retail

Rupeek

SaaS

Sentieo

Setu

Simplify Healthcare

TATA Play

Trifacta

Unacademy

Vedantu

Ver Se Innovation

VMware

Walmart

Wells Fargo

Zeta

Zomato

Zoomcar

Zynga
04
CONCLUSION

The Product Folks

 28

CONCLUSION

Growth stage companies are more focused on giving out

1 higher ESOPs than other companies.

An entry-level employee in Product Management is paid

2 around Rs.15LPA as a base when they start out in product,
irrespective of their background.

An MBA is not as important when it comes to breaking into

3 Product. Tier of the college one has done their undergrad or
postgrad holds relevance.

Some well paying sectors are: 


4 1. Fintech

2. Edtech

3. Ecommerce

4. FAANG

There is some disparity in pay based on gender but the

5 reason is not only the gender. It could be attributed to the
limited data that was available on the subject.

Are you a PM and have still not filled the form? 


Fill out the form and help us help you democratize Product Pays.