A Product Owner (PO) plays a crucial role in a Scrum environment. Experienced, skilled, and reliable POs are often aggressively sought-after and highly valued by many organizations that are adopting both Agile methodology and Scrum framework. As a result of this huge demand and the critical responsibilities that PO takes in a company, the average salary of a POs can be as high as $120,000 (in the United States). Salary can often be a key motivator for many professionals. Read on to find out more about Product Owner Salary.
Product Owner role is a new concept for most organizations that are switching to Agile Project Methodology. Nonetheless, the demand for a Product Owner continues to grow daily. According to the report created by the World Economic Forum, product owner is one of the most emerging jobs in the product development domain. This particular role is experiencing tremendous growth and has been identified in the top 15 emerging jobs in 2020 by LinkedIn with a 24% annual growth in the United States.
Driven by changes in how software is developed, the growing importance of data, the evolution of product development practices, the scope of product owners is expanding. Organizations are looking for product owners with great customer experience, business acumen, market orientation, technical skills, and soft skills.
According to salary sites like PayScale and Glassdoor, the salary range for a Product Owner typically falls between $86,000 and $122,000 (in the United States). There are a number of reasons why the salary range is so broad, such as education, geographic location, certifications, additional skills, the number of years you have spent in your profession.
No matter which role you are looking for, seniority is the main driver of salary ranges. Product owners are no different. Let’s take a look at the average base salary of a Product Owner, based on their level of experience.
An entry-level Product Owner with less than 1 year of experience can expect an average total compensation of $68,048. An early career Product Owner with 1-4 years of experience and a mid-career Product Owner with 5-9 years of experience earns an average total compensation of $77,874 and $93,744 respectively. An experienced Product Owner with 10-19 years of experience and senior Product Owner with experience of 20 years and higher, earn an average total compensation of $106,684 and $111,791 respectively.
Note: The average compensation mentioned here includes tips, bonus, and overtime pay. Also, the numbers stated here are not reflective of the national average and are just based on a large number of US cities.
The average salary of a Product Owner in the different countries is as shown below:
Some of the fast-growing industries have a higher demand for Product Owners. According to a survey, domains such as telecommunication, IT, and finance tend to offer much higher salaries for Product Owners. Please refer to the table for more details.
Note: The numbers stated here are not reflective of the national average and are just based on a large number of US cities.
The average salary also varies depending on the company that you are applying for. For example, in the United States, the best-paying companies for the entry-level, early career, and mid-career Product Owners are shown in the table below (according to PayScale):
|Company||Salary (in $ annually)|
|J.P. Morgan Chase & Co. (JPMCC)||91,109|
|Charles Schwab & Co., Inc.||82,300|
|Discover Financial Services LLC||84,000|
|Applied Systems, Inc.||68,000|
This is not an exhaustive list.
Beyond a relevant degree and some work experience, Product Owners can build out competitive skills by obtaining professional certifications. While it is usually not a strict requirement, if you are a Certified Product Owner, your chances of finding good employment will vastly increase. The average salary for a professional with CSPO certification in the United States is $105,034.
According to PayScale, the pay ranges for people with a Certified Scrum Product Owner (CSPO) certification by employers is as follows:
|Capital One Financial Corp||$79k - $157k|
|Amazon.com Inc||$98k - $159k|
|Fidelity Investments||$66k - $109k|
|J.P. Morgan Chase & Co. (JPMCC)||$84k - $163k|
|American Express Co. (AMEX)||$87k - $171k|
Like I mentioned earlier, earning a Product Owner certification opens up new possibilities and can increase your paycheck. At Invensis Learning, we offer certification training for different Product Owner certifications such as CSPO and PSPO. Through these programs, you will learn to fulfill your role as Product Owner and how to help your Scrum team perform at the optimum level. They will also accelerate your journey in pursuing a career in Agile.
What are the modes of training provided by Invensis Learning?
Invensis Learning provides 5 different modes of training in the form of:
How do I enroll for training?
You can enroll for training by following below mentioned points:
Can I opt for a customized schedule other than what is mentioned on the website?
Yes, you can opt for a customized schedule which is not there on the website. But getting custom schedules will depend on few criteria mentioned below:
How much discount will I get if I enrol for training?
What is the certification that I will get after completing my training?
What will be included in my training?
Once you enroll for training from Invensis Learning, you will receive:
What is the refund amount I will get if I cancel my enrolment?
Will the training be delivered in a native language if a participant choses to?
If I want to know more about a course, whom should I connect with?
What is Certified Scrum Product Owner (CSPO) certification?
Certified Scrum Product Owner (CSPO) is one most significant and globally recognized Agile and Scrum certifications offered by Scrum Alliance. It is ideal for professionals who want to play the role of a Product Owner in the Scrum Team in an organization. The Product Owner job role is basically a business-oriented role with responsibilities such as developing a high-level project vision, designing a product strategy, working with the product backlog, collaborating with different stakeholders, and delivering a high quality product. CSPO credential validates the candidate for a Product Owner role. It demonstrates his/her core knowledge in the domain and willingness to learn and invest in oneself.
Why should I enroll for CSPO Certification Training?
In today’s highly projectized business environment where anything and everything is a project, Agile has clearly picked up the ante from traditional waterfall methods to address enterprise transformation to meet market demands and stay ahead of the competition. With projects, key stakeholders will have their own vested interests that are in line with critical business objectives, and the Scrum Product Owner is one such key stakeholder whose responsibilities lie in creating a vision and conveying the same to the Scrum team.
Certified Scrum Product Owner (CSPO) is a globally-recognized certification for professionals who are comfortable with the business side of projects by creating a vision, product backlog, and monitoring the work of the development team. CSPOs are responsible for the product and ensure it satisfies the needs of all the stakeholders. In fact, Certified Product Owners are the most highly sought-after professionals globally, where Agile implementation is a key strategic objective for businesses worldwide.
How to Become a Certified Scrum Product Owner?
Currently, there is no test for CSPO certification. You can just follow the steps listed below to get Certified Scrum Product Owner certified:
What are the objectives of the CSPO Certification Course?
In this Certified Scrum Product Owner training, you will:
What are the prerequisites to take up the CSPO Certification training?
There are no prerequisites to attend the Certified Scrum Product Owner Certification training. However, it is beneficial to have some basic understanding of Scrum values, principles, and working knowledge of the overall Scrum process.
Who should take up this CSPO workshop?
This 2-day Certified Scrum Product Owner workshop is intended for candidates who are aiming to become a Product Owner. It is also highly valuable for other job roles involved with Scrum including:
Does the CSPO certificate expire? How to maintain CSPO credential?
To maintain your CSPO credential you can renew it every two years by obtaining 20 SEUs. The renewal fee is $100.
Is there any exam for CSPO certification?
Currently, there is no test for CSPO certification. You just need to complete your Certified Scrum Product Owner certification course successfully and get your official CSPO Certificate from Scrum Alliance.
Is Certified Scrum Product Owner certification training right for me?
If you are interested in the business side of the project, interested to enhance your skills and credibility to lead product development initiatives, and would like to be a part of Agile transformation, then the Product Owner certification is for you.
Can CSPO certification be done online?
Yes. At Invensis Learning, you can opt to take up this CSPO course in live-online delivery mode.
How much is the average salary of a Certified Scrum Product Owner?
According to PayScale, in the United States, the average salary of a Certified Scrum Product Owner is around $105,122.
Which is better? Scrum Master or Product Owner?
Firstly there are two different roles. Which is best for you depends on what you are interested in and the skill you possess. As a Scrum Master, Scrum values and principles and learn how to help your Scrum team perform at the optimum level. You will protect your team from external and internal impediments and guide them to successfully adopt the Scrum Framework. Whereas, as a Product Owner, you will develop a product vision, strategy, product backlog, and help the development team to successfully deliver a high-quality product at the right time.
Is a Certified Scrum Product Owner worth it?
Yes. After completing CSPO training, you will be eligible for the Certified Scrum Product Owner (CSPO) certification from the Scrum Alliance. Firstly, you will get a certification, which is recognized globally, thus expanding the scope of job opportunities. Secondly, it is highly beneficial if you are aiming to apply in an organization that is practicing agile. It gives you an edge over other non-certified counterparts. Also, according to PayScale, the average salary of a certified product owner in the United States is $105,122.
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