$93,157

Average Starting Salary

$54,669

Average In-State Tuition

333

Average Student Enrollment

  • Starting salary for new MBA graduates in Product Management is reported to be between $60,514 and $132,453 with an average of $93,157.
  • Tuition for in-person, campus MBA programs in Product Management ranges from $11,851 to $141,812, and averages $54,669
  • Online tuition in for Product Management MBAs ranges between $11,851 to $141,812, with an average total tuition cost of $36,076
  • A GMAT score between 400 and 687 with an average of 553 is needed for acceptance into an MBA program in Product Management.
  • 100 Best MBA Programs in Product Management
  • There are 24 campus and 12 online MBA Product Management Programs.
  • Average student enrollment varies between 68 and 1,300 with an overall average of 333.
  • Student / Faculty Ratio for MBA programs offering a Product Management concentration varies between 1:16 and 3:1 with an average of 3:1 students.
  • 36 MBA programs in Product Management are ranked by the following institutions MBAGuide: 23, US News: 6, Forbes: 4, BW: 5, FT: 4 and Economist: 4.

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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

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.

Area20182028Change%ChangeAvg. Annual Openings
United States263,200248,800-14,400-5.516,800
Alabama2,3902,270-120-5150
Alaska1,7001,8301307.6140
Arizona2,9503,020702.4220
Arkansas3,2503,25000230
California43,30041,500-1,800-4.22,830
Colorado810840303.760
Connecticut1,4901,420-70-4.7100
Florida27,07027,3002300.81,960
Georgia7,9207,900-20-0.3560
Hawaii1,4301,330-100-790
Idaho2,8703,1302609.130
Illinois12,07011,060-1,010-8.4720
Indiana5,3405,020-320-6340
Iowa3,7003,430-270-7.3230
Kansas5,0204,720-300-6320
Louisiana6706902030
Maine1,2201,090-130-10.770
Maryland4,5204,320-200-4.4420
Massachusetts10,4809,700-780-7.4640
Michigan4,4304,020-410-9.3260
Minnesota6,9406,480-460-6.6430
Mississippi1,2501,290403.20
Missouri6,0105,650-360-6380
Montana570540-30-5.340
Nebraska1,3301,300-30-2.390
Nevada1,2201,250302.590
New Hampshire820790-30-3.750
New Jersey840800-40-4.850
New York14,48014,290-190-1.31,000
North Carolina5,0404,890-150-3340
North Dakota2,3602,210-150-6.4150
Ohio5,6505,160-490-8.7340
Oklahoma5,1104,760-350-6.8320
Oregon1,4501,400-50-3.4100
Pennsylvania9,5008,880-620-6.5590
Rhode Island420390-30-7.130
South Carolina4,0204,02000290
South Dakota1,3001,320201.590
Tennessee8,9708,850-120-1.3620
Texas7,2207,4402203540
Utah6,3407,22088013.9570
Vermont1,2101,120-90-7.470
Virgin Islands1601600010
Virginia7,6207,330-290-3.8500
Washington4,1204,81069016.7460
West Virginia1,2801,220-60-4.780
Wisconsin6,8806,370-510-7.4420
US Department of Labor – 2021

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

  1. Claremont Graduate University - $132,453.00
  2. Carnegie Mellon University - $126,250.00
  3. The University of Michigan - $123,000.00
  4. Emory University - $117,719.00
  5. Marist College - $102,500.00
  6. Colorado Mesa University - $100,200.00
  7. Sacred Heart University - $100,000.00
  8. Drexel University - $99,942.00
  9. University of Massachusetts Boston - $92,544.00
  10. University of Utah - $89,400.00

10 Lowest Starting Salaries

  1. University of Vermont - $60,514.00
  2. University of California, Riverside - $70,000.00
  3. Louisiana Tech University - $73,056.00
  4. The University of Tampa - $74,558.00
  5. University of North Alabama - $75,100.00
  6. Oklahoma State University - $82,000.00
  7. University of Pittsburgh - $82,792.00
  8. Auburn University at Montgomery - $85,803.00
  9. New Mexico State University - $86,800.00
  10. 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.

StateEmployment1 to 4 Years5 to 9 Years10 to 15 Years15 to 20 Years20+ Years
Alabama1,160$49,480$97,930$161,290$266,129$401,854
Alaska1,080$66,800$104,970$143,070$228,912$345,657
Arizona3,290$67,640$100,710$158,440$253,504$382,791
Arkansas1,950$30,140$65,020$112,360$171,690$259,252
California30,150$88,330$137,840$137,840$220,544$333,021
Colorado660$86,040$129,080$182,030$291,248$439,784
Connecticut570$148,670$181,520$181,520$290,432$438,552
District of Columbia1,570$138,960$184,850$184,850$295,760$446,598
Florida22,030$57,340$103,170$182,900$292,640$441,886
Guam300$30,510$64,050$103,580$152,580$230,396
Hawaii560$80,740$137,090$137,090$219,344$331,209
Illinois9,430$99,230$151,350$151,350$242,160$365,662
Indiana2,270$50,330$95,850$145,770$233,232$352,180
Kansas3,160$33,570$96,530$144,060$230,496$348,049
Kentucky2,710$64,060$96,460$135,720$217,152$327,900
Louisiana710$83,240$134,570$194,250$310,800$469,308
Maine1,130$73,320$91,400$116,270$196,060$296,051
Maryland$70,650$127,700$197,770$316,432$477,812
Massachusetts7,190$103,100$147,440$231,481$370,369$559,258
Michigan2,710$92,190$138,280$138,280$221,248$334,084
Minnesota5,420$91,430$129,540$181,550$290,480$438,625
Mississippi740$41,780$84,850$114,160$158,090$238,716
Missouri4,540$44,860$97,760$157,430$251,888$380,351
Montana360$36,530$74,810$121,250$193,900$292,789
Nebraska1,580$73,510$110,460$187,180$299,488$452,227
Nevada1,370$64,400$125,530$191,430$306,288$462,495
New Hampshire630$87,210$107,680$150,470$240,752$363,536
New Jersey980$128,090$185,350$233,350$373,359$563,772
New York7,280$94,670$126,250$198,213$317,140$478,881
North Carolina3,070$81,520$135,660$212,986$340,778$514,575
North Dakota220$84,420$109,350$129,040$206,330$311,558
Ohio4,940$67,380$110,020$175,520$280,832$424,056
Oklahoma2,870$41,400$78,220$125,880$201,408$304,126
Oregon970$98,870$160,210$251,530$402,448$607,696
Pennsylvania7,010$110,390$149,680$234,998$375,996$567,754
Puerto Rico2,940$42,520$63,830$97,490$150,530$227,300
Rhode Island330$124,390$165,010$259,066$414,505$625,903
South Carolina3,460$24,630$100,450$169,500$271,200$409,512
South Dakota470$151,970$197,130$309,494$495,191$747,738
Tennessee9,450$26,360$76,640$151,960$243,136$367,135
Texas6,730$115,500$165,290$259,505$415,208$626,965
Utah5,470$34,430$81,720$146,930$235,088$354,983
Vermont630$57,410$90,940$131,090$209,744$316,713
Virginia6,480$98,060$177,980$279,429$447,086$675,099
Washington2,660$138,120$180,100$282,757$452,411$683,141
West Virginia990$73,990$100,970$139,330$207,810$313,793
Wisconsin3,230$88,360$112,090$160,130$256,208$386,874
Wyoming110$28,240$40,560$123,790$198,064$299,077
BLS – 2021

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

  1. Carnegie Mellon University - $141,812.00
  2. Emory University - $138,248.00
  3. The University of Michigan - $132,953.00
  4. Claremont Graduate University - $97,010.00
  5. University of California, Riverside - $95,844.00
  6. Drexel University - $64,000.00
  7. University of Utah - $59,905.00
  8. Washington and Lee University - $57,285.00
  9. University of Pittsburgh - $54,796.00
  10. University of Vermont - $31,879.00

10 Least Expensive Product Management MBAs

  1. New Mexico State University - $11,851.00
  2. University of North Alabama - $13,600.00
  3. Auburn University at Montgomery - $13,907.00
  4. Oklahoma State University - $16,464.00
  5. Louisiana Tech University - $16,518.00
  6. Colorado Mesa University - $19,155.00
  7. Montana State University-Billings - $19,370.00
  8. The University of Tampa - $26,744.00
  9. University of Massachusetts Boston - $27,375.00
  10. 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

  1. Carnegie Mellon University - 687
  2. University of Utah - 675
  3. The University of Michigan - 664
  4. University of Vermont - 640
  5. Drexel University - 630
  6. Emory University - 626
  7. University of California, Riverside - 594
  8. University of Pittsburgh - 592
  9. Claremont Graduate University - 580
  10. Oklahoma State University - 557

10 Lowest GMAT Scores for Product Management MBAs

  1. Northcentral University - 400
  2. University of North Alabama - 445
  3. Sacred Heart University - 450
  4. Louisiana Tech University - 450
  5. Auburn University at Montgomery - 475
  6. Indiana University of Pennsylvania - 480
  7. The University of Tampa - 515
  8. University of the Pacific - 525
  9. New Mexico State University - 530
  10. 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

  1. University of Utah - 9
  2. Emory University - 7
  3. University of Massachusetts Boston - 5
  4. University of California, Riverside - 5
  5. The University of Tampa - 4
  6. Drexel University - 4
  7. Auburn University at Montgomery - 3
  8. University of North Alabama - 3
  9. New Mexico State University - 3
  10. Oklahoma State University - 2

10 Product Management Programs with the Lowest Student Faculty Ratio

  1. Marist College - 0
  2. The University of Michigan - 0
  3. Sacred Heart University - 0
  4. Carnegie Mellon University - 0
  5. University of the Pacific - 1
  6. University of Pittsburgh - 1
  7. University of Vermont - 1
  8. Louisiana Tech University - 2
  9. Oklahoma State University - 2
  10. New Mexico State University - 3

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

  1. University of Utah - 1,300
  2. The University of Michigan - 1,182
  3. Emory University - 506
  4. University of California, Riverside - 466
  5. Carnegie Mellon University - 378
  6. University of Pittsburgh - 264
  7. Drexel University - 251
  8. The University of Tampa - 192
  9. University of North Alabama - 189
  10. Indiana University of Pennsylvania - 176

10 MBA Product Management Programs with the Lowest Student Faculty Ratio

  1. University of Vermont - 68
  2. Oklahoma State University - 68
  3. New Mexico State University - 96
  4. Claremont Graduate University - 103
  5. Auburn University at Montgomery - 116
  6. Louisiana Tech University - 138
  7. Sacred Heart University - 174
  8. Indiana University of Pennsylvania - 176
  9. University of North Alabama - 189
  10. The University of Tampa - 192

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