$86,975
Average Starting Salary
$41,587
Average In-State Tuition
306
Average Student Enrollment
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
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 $86,975.12 with the lowest of starting of $53,500.00 and the highest reported starting salary of $149,759.00.
10 Highest Starting Salaries
- Emory University - $149,759.00
- Carnegie Mellon University - $148,067.00
- Washington University in St. Louis - $117,687.00
- Wright State University - $115,000.00
- University of California, Davis - $109,075.00
- Colorado Mesa University - $100,200.00
- Northern Illinois University - $93,400.00
- University of Nebraska-Lincoln - $92,300.00
- San Jose State University - $90,800.00
- Gonzaga University - $90,753.00
10 Lowest Starting Salaries
- Texas A&M International University - $53,500.00
- Fayetteville State University - $54,300.00
- University of West Florida - $57,200.00
- University of Wisconsin-Stevens Point - $58,350.00
- East Carolina University - $61,600.00
- University of Arkansas at Little Rock - $63,300.00
- University of Detroit Mercy - $72,900.00
- University of Nebraska at Kearney - $73,150.00
- University of Toledo - $73,300.00
- The University of Rhode Island - $73,900.00
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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 $41,587.17 with a highest of $151,689.00 and the lowest of $7,048.00
10 Most Expensive Product Management MBAs
- Emory University - $151,689.00
- Carnegie Mellon University - $147,456.00
- Washington University in St. Louis - $134,020.00
- University of California, Davis - $88,634.00
- Gonzaga University - $39,270.00
- San Jose State University - $39,270.00
- University of Wisconsin-Stevens Point - $28,224.00
- Wright State University - $28,080.00
- University of Detroit Mercy - $28,050.00
- Minnesota State University Moorhead - $26,220.00
10 Least Expensive Product Management MBAs
- The University of Rhode Island - $7,048.00
- University of West Florida - $12,460.00
- University of Nebraska at Kearney - $13,293.00
- Fayetteville State University - $13,956.00
- University of Arkansas at Little Rock - $18,071.00
- East Carolina University - $18,072.00
- Colorado Mesa University - $19,155.00
- University of Alaska Fairbanks - $20,772.00
- Northcentral University - $23,040.00
- University of Toledo - $23,506.00
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 709 with an average GMAT score to be accepted in a Product Management MBA program is 570.
10 Highest GMAT Scores for Product Management MBAs
- Emory University - 709
- Carnegie Mellon University - 702
- Washington University in St. Louis - 670
- University of California, Davis - 657
- University of Cincinnati - 639
- University of Nebraska-Lincoln - 627
- Texas A&M International University - 626
- University of Wisconsin-Stevens Point - 626
- University of Arkansas at Little Rock - 620
- Minnesota State University Moorhead - 614
10 Lowest GMAT Scores for Product Management MBAs
- Northcentral University - 400
- East Carolina University - 470
- University of Toledo - 475
- Gonzaga University - 485
- University of Nebraska at Kearney - 490
- Fayetteville State University - 510
- University of West Florida - 514
- Wright State University - 525
- The University of Rhode Island - 530
- University of Alaska Fairbanks - 533
Student / Faculty Ratio for MBA Programs in Product Management
The lowest student faculty ratio from a Product Management MBA program is 7:1 while the highest ratio is 31:1, and the average from all MBA programs is 17:1.
10 Product Management Programs with the Highest Student Faculty Ratio
- San Jose State University - 31
- Minnesota State University Moorhead - 25
- East Carolina University - 24
- University of West Florida - 24
- University of Cincinnati - 23
- Texas A&M International University - 23
- University of Massachusetts Lowell - 22
- University of Wisconsin-Stevens Point - 22
- California State University, Chico - 20
- University of Nebraska-Lincoln - 20
10 Product Management Programs with the Lowest Student Faculty Ratio
- University of California, Davis - 7
- Emory University - 9
- Carnegie Mellon University - 10
- University of Nebraska at Kearney - 10
- University of Detroit Mercy - 11
- Washington University in St. Louis - 11
- Gonzaga University - 12
- University of Arkansas at Little Rock - 13
- Wright State University - 14
- University of Alaska Fairbanks - 14
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 4 from University of Nebraska at Kearney. The MBA program with the highest student enrollment offering an MBA in Product Management is Highest: 1,996 from Washington University in St. Louis. The average student enrollment from all universities that offer an MBA in Product Management is 306.
10 MBA Product Management Programs with the Highest Student Enrollment
- Washington University in St. Louis - 1,996
- Carnegie Mellon University - 531
- University of Cincinnati - 415
- Texas A&M International University - 383
- University of Massachusetts Lowell - 347
- East Carolina University - 273
- University of California, Davis - 215
- San Jose State University - 163
- University of West Florida - 73
- University of Nebraska-Lincoln - 58
10 MBA Product Management Programs with the Lowest Student Faculty Ratio
- University of Nebraska at Kearney - 4
- University of Wisconsin-Stevens Point - 22
- Minnesota State University Moorhead - 28
- University of Arkansas at Little Rock - 39
- University of Detroit Mercy - 41
- University of Nebraska-Lincoln - 58
- University of West Florida - 73
- San Jose State University - 163
- University of California, Davis - 215
- East Carolina University - 273
100 Best MBA Programs in Product Management
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At MBAGuide you are teaming up with MBA graduates, managers, professors, MBA students, data modelers, designers and other professionals to learn from experts about business careers, degree programs and salaries. Our staff of MBA professionals has written this article and it has been reviewed by an MBA graduate and editor on our staff.
