The 2024 State of Product Management: Challenges, Opportunities, and Insights

📖 Download the full report now and explore the trends shaping the future of product management. 

Why do product professionals change roles, and what keeps them engaged? 

This year, we surveyed product professionals across the globe to uncover the realities of their careers, their challenges, and their hopes for the future. The 2024 State of Product Management and Marketing Report explores the key trends shaping the field and provides actionable takeaways for leaders and teams alike. 

Here’s what we learned—and what it means for you. 

1. Company Culture: The Silent Dealbreaker 

Poor company culture emerged as a leading cause of turnover in the survey. It’s not just about perks and benefits—it’s about leadership, alignment, and autonomy. Respondents shared how micromanagement, unrealistic workload expectations, and a lack of strategic vision from leadership often lead to disengagement. 

“I see myself shifting from a demanding and high expectation career path to a mindful, meaningful organization that positively impacts the world.” 

✅ Take Action: 

• Assess your leadership’s alignment with the company’s product vision. 

• Foster a culture that values autonomy while providing clear strategic guidance. 

• Define and communicate what a positive, sustainable team culture looks like. 

For more on building a thriving product culture, read the section on Voices From the Industry in this year’s report. 

2. Strategic vs. Tactical: Finding the Balance 

One of the biggest challenges product leaders face is balancing day-to-day tactical work with high-level strategic thinking. According to the report, over 68% of product managers’ time is spent on tactical tasks like meetings, emails, and roadmap planning, leaving little room for strategic priorities like customer engagement and market research. 

This imbalance can leave product leaders feeling disconnected from their markets and customers, ultimately impacting their ability to guide long-term success. 

“We make a lot of assumptions about our users and don’t really understand who they are or what drives them.” 

📊 Report Highlight: 

Respondents cited the need to protect time for strategy as critical to maintaining focus and alignment with broader organizational goals. Yet, administrative tasks and internal bottlenecks often take precedence, forcing leaders into reactive rather than proactive modes. 

✅ Take Action: 

• Delegate or automate administrative tasks to free up time for strategic work. 

• Leverage cross-functional teams to share tactical responsibilities and align priorities. 

• Schedule dedicated time for market research and customer insights to reconnect with the big picture. 

Explore how top product leaders manage their time effectively in the Strategy and Execution section of the report. 

3. AI and the Future of Product Management 

The adoption of AI is reshaping product management in ways we’ve never seen before. Over 65% of product professionals in the survey reported integrating AI into their workflows. Those who embrace these tools report faster decision-making, better customer insights, and measurable business growth. 

However, barriers remain: data privacy concerns, lack of AI expertise, and unclear ROI complicate adoption. 

"Let’s not be blind to how quickly AI is changing things, lowering barriers to entry, and creating disruption. Technology obsolescence risk is real." 

📊 Did You Know? 

78% of respondents who reported revenue growth of more than 10% in the past year were actively integrating AI into their products. 

✅ Take Action: 

• Upskill your team with AI-focused training to stay competitive.  

• Identify and implement AI features that deliver tangible value, such as enhancing customer experiences, personalizing offerings, and uncovering market opportunities.

Expand Your AI Expertise: Ready to master AI in product management? Explore our AI Training for Product Professionals workshop to harness AI for strategic decision-making. For advanced marketers, our Advanced AI Techniques for Product Marketing course offers cutting-edge tools to optimize workflows and deliver impactful results 

Learn how top-performing teams are navigating AI challenges in the AI in Product Management section of the report. 

4. Compensation Trends and Career Progression 

Compensation continues to be a key driver for career decisions, but it’s not just about the numbers. This year’s report highlights clear trends linking compensation to seniority, education, and company size. 

📊 Report Highlights: 

• Education Pays: Respondents with a Master’s degree earn an average of $146,235, compared to $139,938 for those with a Bachelor’s degree. 

• Experience Matters: The average salary increases steadily up to 10 years of experience, after which growth plateaus. 

• Gender Gap Persists: Male respondents report earning 9% more on average than their female counterparts. 

✅ Take Action: 

• Conduct pay equity analyses to close compensation gaps and retain diverse talent. 

• Offer additional incentives like bonuses, equity, and career development opportunities to attract and retain top performers. 

For a detailed breakdown of salaries by role and seniority, explore the Compensation section of the report. 

What’s Next for Product Professionals? 

From compensation trends to remote work dynamics, this year’s report offers a roadmap for tackling the challenges product teams face today. Whether you’re a leader looking to retain top talent or a professional planning your next career move, the 2024 State of Product Management and Marketing Report has actionable insights tailored for you. 

📖 Download the full report now and explore the trends shaping the future of product management.