$93,157
Average Starting Salary
$54,669
Average In-State Tuition
333
Average Student Enrollment
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Discover information on start dates, credit transfer processes, initial salary expectations, financial aid opportunities, GMAT requirements, tuition fees, student-to-faculty ratios, and average post-graduation employment rates.
What is an MBA in Product Management?
Product management is an increasingly sought after field with many organizations looking for talented individuals to fill the role. Product managers are responsible for the development, launch, and maintenance of products, which requires a range of skills. They must have a deep understanding of the market and customer needs, as well as the ability to develop strategies and execute on them. Product managers also need excellent communication and organizational skills, as well as strong leadership abilities. To gain these skills, many professionals opt to pursue an MBA in product management, which is designed to provide the necessary knowledge and skills to succeed in this field.
100 Best MBAs in Product Management
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MBA Programs in Product Management
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What is an MBA in Product Management?
An MBA in Product Management is a specialized degree program designed to provide students with the necessary skills and knowledge to become successful in the field of product management. This program typically combines business management courses with courses focusing on product development and marketing.
Students learn the fundamentals of product design, pricing, market research, strategy formation, and customer service. They gain an understanding of the principles of product lifecycle management and how to effectively manage the entire product lifecycle. Additionally, students explore topics such as business analytics, data-driven decision making, and project management. With an MBA in Product Management, graduates are prepared to lead product teams and contribute to business success in dynamic organizations.
What is the Career Outlook for Product Management MBAs?
The career outlook for Product Management MBAs is highly promising. According to the US Bureau of Labor Statistics, the job outlook for product managers is expected to grow by more than 10 percent in the next decade. Product management is an essential and ever-evolving role in the technology industry, and MBAs with a specialization in product management are in high demand.
Companies are looking for professionals with a deep understanding of the product development process and an ability to anticipate customer needs. With an MBA in Product Management, graduates can expect to find positions as product managers, product strategists, or product owners in tech companies, startups, and other organizations.
Employment for Product Management MBAs is projected to grow -5.5% percent nationwide from 2018 to 2028, with an average annual need for 16,800 new Product Managers a year until 2028, according to the US Department of Labor.
Area | 2018 | 2028 | Change | %Change | Avg. Annual Openings |
United States | 263,200 | 248,800 | -14,400 | -5.5 | 16,800 |
Alabama | 2,390 | 2,270 | -120 | -5 | 150 |
Alaska | 1,700 | 1,830 | 130 | 7.6 | 140 |
Arizona | 2,950 | 3,020 | 70 | 2.4 | 220 |
Arkansas | 3,250 | 3,250 | 0 | 0 | 230 |
California | 43,300 | 41,500 | -1,800 | -4.2 | 2,830 |
Colorado | 810 | 840 | 30 | 3.7 | 60 |
Connecticut | 1,490 | 1,420 | -70 | -4.7 | 100 |
Florida | 27,070 | 27,300 | 230 | 0.8 | 1,960 |
Georgia | 7,920 | 7,900 | -20 | -0.3 | 560 |
Hawaii | 1,430 | 1,330 | -100 | -7 | 90 |
Idaho | 2,870 | 3,130 | 260 | 9.1 | 30 |
Illinois | 12,070 | 11,060 | -1,010 | -8.4 | 720 |
Indiana | 5,340 | 5,020 | -320 | -6 | 340 |
Iowa | 3,700 | 3,430 | -270 | -7.3 | 230 |
Kansas | 5,020 | 4,720 | -300 | -6 | 320 |
Louisiana | 670 | 690 | 20 | 3 | 0 |
Maine | 1,220 | 1,090 | -130 | -10.7 | 70 |
Maryland | 4,520 | 4,320 | -200 | -4.4 | 420 |
Massachusetts | 10,480 | 9,700 | -780 | -7.4 | 640 |
Michigan | 4,430 | 4,020 | -410 | -9.3 | 260 |
Minnesota | 6,940 | 6,480 | -460 | -6.6 | 430 |
Mississippi | 1,250 | 1,290 | 40 | 3.2 | 0 |
Missouri | 6,010 | 5,650 | -360 | -6 | 380 |
Montana | 570 | 540 | -30 | -5.3 | 40 |
Nebraska | 1,330 | 1,300 | -30 | -2.3 | 90 |
Nevada | 1,220 | 1,250 | 30 | 2.5 | 90 |
New Hampshire | 820 | 790 | -30 | -3.7 | 50 |
New Jersey | 840 | 800 | -40 | -4.8 | 50 |
New York | 14,480 | 14,290 | -190 | -1.3 | 1,000 |
North Carolina | 5,040 | 4,890 | -150 | -3 | 340 |
North Dakota | 2,360 | 2,210 | -150 | -6.4 | 150 |
Ohio | 5,650 | 5,160 | -490 | -8.7 | 340 |
Oklahoma | 5,110 | 4,760 | -350 | -6.8 | 320 |
Oregon | 1,450 | 1,400 | -50 | -3.4 | 100 |
Pennsylvania | 9,500 | 8,880 | -620 | -6.5 | 590 |
Rhode Island | 420 | 390 | -30 | -7.1 | 30 |
South Carolina | 4,020 | 4,020 | 0 | 0 | 290 |
South Dakota | 1,300 | 1,320 | 20 | 1.5 | 90 |
Tennessee | 8,970 | 8,850 | -120 | -1.3 | 620 |
Texas | 7,220 | 7,440 | 220 | 3 | 540 |
Utah | 6,340 | 7,220 | 880 | 13.9 | 570 |
Vermont | 1,210 | 1,120 | -90 | -7.4 | 70 |
Virgin Islands | 160 | 160 | 0 | 0 | 10 |
Virginia | 7,620 | 7,330 | -290 | -3.8 | 500 |
Washington | 4,120 | 4,810 | 690 | 16.7 | 460 |
West Virginia | 1,280 | 1,220 | -60 | -4.7 | 80 |
Wisconsin | 6,880 | 6,370 | -510 | -7.4 | 420 |
What is the Starting Salary for Product Management MBAs?
Average starting salary for MBA students from universities that offer an MBA in Product Management today is $93,156.55 with the lowest of starting of $60,514.00 and the highest reported starting salary of $132,453.00.
10 Highest Starting Salaries
- Claremont Graduate University - $132,453.00
- Carnegie Mellon University - $126,250.00
- The University of Michigan - $123,000.00
- Emory University - $117,719.00
- Marist College - $102,500.00
- Colorado Mesa University - $100,200.00
- Sacred Heart University - $100,000.00
- Drexel University - $99,942.00
- University of Massachusetts Boston - $92,544.00
- University of Utah - $89,400.00
10 Lowest Starting Salaries
- University of Vermont - $60,514.00
- University of California, Riverside - $70,000.00
- Louisiana Tech University - $73,056.00
- The University of Tampa - $74,558.00
- University of North Alabama - $75,100.00
- Oklahoma State University - $82,000.00
- University of Pittsburgh - $82,792.00
- Auburn University at Montgomery - $85,803.00
- New Mexico State University - $86,800.00
- Indiana University of Pennsylvania - $88,500.00
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Product Management Earnings by State and Experience
According to data collected by the U.S. Bureau of Labor Statistics, top executives pay and employment in 2021 is listed in the table below.
State | Employment | 1 to 4 Years | 5 to 9 Years | 10 to 15 Years | 15 to 20 Years | 20+ Years |
Alabama | 1,160 | $49,480 | $97,930 | $161,290 | $266,129 | $401,854 |
Alaska | 1,080 | $66,800 | $104,970 | $143,070 | $228,912 | $345,657 |
Arizona | 3,290 | $67,640 | $100,710 | $158,440 | $253,504 | $382,791 |
Arkansas | 1,950 | $30,140 | $65,020 | $112,360 | $171,690 | $259,252 |
California | 30,150 | $88,330 | $137,840 | $137,840 | $220,544 | $333,021 |
Colorado | 660 | $86,040 | $129,080 | $182,030 | $291,248 | $439,784 |
Connecticut | 570 | $148,670 | $181,520 | $181,520 | $290,432 | $438,552 |
District of Columbia | 1,570 | $138,960 | $184,850 | $184,850 | $295,760 | $446,598 |
Florida | 22,030 | $57,340 | $103,170 | $182,900 | $292,640 | $441,886 |
Guam | 300 | $30,510 | $64,050 | $103,580 | $152,580 | $230,396 |
Hawaii | 560 | $80,740 | $137,090 | $137,090 | $219,344 | $331,209 |
Illinois | 9,430 | $99,230 | $151,350 | $151,350 | $242,160 | $365,662 |
Indiana | 2,270 | $50,330 | $95,850 | $145,770 | $233,232 | $352,180 |
Kansas | 3,160 | $33,570 | $96,530 | $144,060 | $230,496 | $348,049 |
Kentucky | 2,710 | $64,060 | $96,460 | $135,720 | $217,152 | $327,900 |
Louisiana | 710 | $83,240 | $134,570 | $194,250 | $310,800 | $469,308 |
Maine | 1,130 | $73,320 | $91,400 | $116,270 | $196,060 | $296,051 |
Maryland | – | $70,650 | $127,700 | $197,770 | $316,432 | $477,812 |
Massachusetts | 7,190 | $103,100 | $147,440 | $231,481 | $370,369 | $559,258 |
Michigan | 2,710 | $92,190 | $138,280 | $138,280 | $221,248 | $334,084 |
Minnesota | 5,420 | $91,430 | $129,540 | $181,550 | $290,480 | $438,625 |
Mississippi | 740 | $41,780 | $84,850 | $114,160 | $158,090 | $238,716 |
Missouri | 4,540 | $44,860 | $97,760 | $157,430 | $251,888 | $380,351 |
Montana | 360 | $36,530 | $74,810 | $121,250 | $193,900 | $292,789 |
Nebraska | 1,580 | $73,510 | $110,460 | $187,180 | $299,488 | $452,227 |
Nevada | 1,370 | $64,400 | $125,530 | $191,430 | $306,288 | $462,495 |
New Hampshire | 630 | $87,210 | $107,680 | $150,470 | $240,752 | $363,536 |
New Jersey | 980 | $128,090 | $185,350 | $233,350 | $373,359 | $563,772 |
New York | 7,280 | $94,670 | $126,250 | $198,213 | $317,140 | $478,881 |
North Carolina | 3,070 | $81,520 | $135,660 | $212,986 | $340,778 | $514,575 |
North Dakota | 220 | $84,420 | $109,350 | $129,040 | $206,330 | $311,558 |
Ohio | 4,940 | $67,380 | $110,020 | $175,520 | $280,832 | $424,056 |
Oklahoma | 2,870 | $41,400 | $78,220 | $125,880 | $201,408 | $304,126 |
Oregon | 970 | $98,870 | $160,210 | $251,530 | $402,448 | $607,696 |
Pennsylvania | 7,010 | $110,390 | $149,680 | $234,998 | $375,996 | $567,754 |
Puerto Rico | 2,940 | $42,520 | $63,830 | $97,490 | $150,530 | $227,300 |
Rhode Island | 330 | $124,390 | $165,010 | $259,066 | $414,505 | $625,903 |
South Carolina | 3,460 | $24,630 | $100,450 | $169,500 | $271,200 | $409,512 |
South Dakota | 470 | $151,970 | $197,130 | $309,494 | $495,191 | $747,738 |
Tennessee | 9,450 | $26,360 | $76,640 | $151,960 | $243,136 | $367,135 |
Texas | 6,730 | $115,500 | $165,290 | $259,505 | $415,208 | $626,965 |
Utah | 5,470 | $34,430 | $81,720 | $146,930 | $235,088 | $354,983 |
Vermont | 630 | $57,410 | $90,940 | $131,090 | $209,744 | $316,713 |
Virginia | 6,480 | $98,060 | $177,980 | $279,429 | $447,086 | $675,099 |
Washington | 2,660 | $138,120 | $180,100 | $282,757 | $452,411 | $683,141 |
West Virginia | 990 | $73,990 | $100,970 | $139,330 | $207,810 | $313,793 |
Wisconsin | 3,230 | $88,360 | $112,090 | $160,130 | $256,208 | $386,874 |
Wyoming | 110 | $28,240 | $40,560 | $123,790 | $198,064 | $299,077 |
What is the Difference Between a Product Manager and a Project Manager?
Product Managers and Project Managers are both responsible for the success of products, but they have very different roles. Product Managers are responsible for the idea, strategy, and roadmap of a product. They focus on understanding customer needs and creating a plan for product development. Project Managers, on the other hand, are responsible for executing on the product roadmap.
They manage the day-to-day tasks and ensure that each step of the product development process is completed on time and within budget. An MBA in Product Management provides skills in both product management and project management to give graduates an edge in their careers.
What Can I Do With an MBA in Product Management?
An MBA in Product Management can open up a variety of opportunities for aspiring professionals. Individuals with a degree in product management can find roles in both the private and public sectors, from startups to established organizations. These roles could include product management in technology, health care, finance, or consulting.
Product management MBAs may have the chance to work at top tech companies like Amazon and lead key initiatives in product development and strategy. Additionally, MBAs who specialize in product management can also participate in workshops such as the Tech Product Management and Product Marketing Management Workshop, sponsored by the Chicago Booth Technology Group and the Kilts Center for Marketing. By attending workshops like these, product management MBAs can stay up to date on the latest industry trends and develop their skills further.
What Skills Do I Need to be Successful In Product Management?
It’s important to have the right skills to be successful in product management. Product managers need to have a good understanding of the product or service they are managing, as well as a strong understanding of their target market and how to reach them.
They also need to have strong technical skills, be able to think strategically, and have excellent communication and collaboration skills. Product managers must also be able to manage multiple projects at once, prioritize tasks, and be able to make decisions in a timely manner. Additionally, having a good understanding of data analysis is essential for any successful product manager. An MBA in Product Management can provide students with the tools and knowledge they need to develop these important skills.
How Much is Tuition for MBA Product Management Programs
The average Tuition for an MBA in Product Management is $54,669.26 with a highest of $141,812.00 and the lowest of $11,851.00
10 Most Expensive Product Management MBAs
- Carnegie Mellon University - $141,812.00
- Emory University - $138,248.00
- The University of Michigan - $132,953.00
- Claremont Graduate University - $97,010.00
- University of California, Riverside - $95,844.00
- Drexel University - $64,000.00
- University of Utah - $59,905.00
- Washington and Lee University - $57,285.00
- University of Pittsburgh - $54,796.00
- University of Vermont - $31,879.00
10 Least Expensive Product Management MBAs
- New Mexico State University - $11,851.00
- University of North Alabama - $13,600.00
- Auburn University at Montgomery - $13,907.00
- Oklahoma State University - $16,464.00
- Louisiana Tech University - $16,518.00
- Colorado Mesa University - $19,155.00
- Montana State University-Billings - $19,370.00
- The University of Tampa - $26,744.00
- University of Massachusetts Boston - $27,375.00
- University of Vermont - $31,879.00
GMAT Scores Needed for an MBA in Product Management?
The lowest GMAT score needed for a Product Management MBA is 400 and the highest is 687 with an average GMAT score to be accepted in a Product Management MBA program is 553.
10 Highest GMAT Scores for Product Management MBAs
- Carnegie Mellon University - 687
- University of Utah - 675
- The University of Michigan - 664
- University of Vermont - 640
- Drexel University - 630
- Emory University - 626
- University of California, Riverside - 594
- University of Pittsburgh - 592
- Claremont Graduate University - 580
- Oklahoma State University - 557
10 Lowest GMAT Scores for Product Management MBAs
- Northcentral University - 400
- University of North Alabama - 445
- Sacred Heart University - 450
- Louisiana Tech University - 450
- Auburn University at Montgomery - 475
- Indiana University of Pennsylvania - 480
- The University of Tampa - 515
- University of the Pacific - 525
- New Mexico State University - 530
- Marist College - 548
Student / Faculty Ratio for MBA Programs in Product Management
The lowest student faculty ratio from a Product Management MBA program is 1:16 while the highest ratio is 9:1, and the average from all MBA programs is 3:1.
10 Product Management Programs with the Highest Student Faculty Ratio
- University of Utah - 9
- Emory University - 7
- University of Massachusetts Boston - 5
- University of California, Riverside - 5
- The University of Tampa - 4
- Drexel University - 4
- Auburn University at Montgomery - 3
- University of North Alabama - 3
- New Mexico State University - 3
- Oklahoma State University - 2
10 Product Management Programs with the Lowest Student Faculty Ratio
Student Enrollment Information for MBA Programs in Product Management
The MBA program with the lowest student enrollment that offers an MBA in Product Management is 68 from Oklahoma State University. The MBA program with the highest student enrollment offering an MBA in Product Management is Highest: 1,300 from University of Utah. The average student enrollment from all universities that offer an MBA in Product Management is 333.
10 MBA Product Management Programs with the Highest Student Enrollment
- University of Utah - 1,300
- The University of Michigan - 1,182
- Emory University - 506
- University of California, Riverside - 466
- Carnegie Mellon University - 378
- University of Pittsburgh - 264
- Drexel University - 251
- The University of Tampa - 192
- University of North Alabama - 189
- Indiana University of Pennsylvania - 176
10 MBA Product Management Programs with the Lowest Student Faculty Ratio
- University of Vermont - 68
- Oklahoma State University - 68
- New Mexico State University - 96
- Claremont Graduate University - 103
- Auburn University at Montgomery - 116
- Louisiana Tech University - 138
- Sacred Heart University - 174
- Indiana University of Pennsylvania - 176
- University of North Alabama - 189
- The University of Tampa - 192
100 Best MBA Programs in Product Management
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