What does a Product Owner do?
A product owner is typically an IT professional responsible for evaluating work generated by a software scrum team. During evaluations, the product owner will match and prioritize the features and functionality of the product to obtain maximum performance to the benefit of the end user. Other duties include scheduling and leading meetings to identify product issues, determining roadmaps for products and managing daily goals and schedules to achieve high performance and meet project deadlines.
A bachelor's degree is generally required to be a product owner with some companies expressing a preference to those holding a master's of business administration (MBA). Most employers require a minimum of two years of experience as a product owner in the industry with many successful candidates displaying strong managerial attributes such as excellent verbal and written communication skills with a proven track record of successfully developing excellent products within deadlines.
- Supervise and advise the scrum team to meet software expectations
- Manage the product development team to create a strong end product
- Nurture ideas and solutions to existing customer problems
- Communicate effectively with team members to achieve project goals
- Extract and retrieve information and data sets to improve upon software
- Determine roadmaps for products in the creation phase
- Work closely with the scrum team throughout the development process
- Schedule and lead meetings to identify issues and fixes for projects
- Master's in business administration preferred
- Minimum 2 years experience as a product owner in the industry
- Strong knowledge of Agile principles and process
- In-depth understanding of industry market conditions and trends
- Outstanding verbal and written communication skills
- Successful track record of developing products within deadlines
- Excellent attention to detail
- Sharp analytical and problem-solving skills
- Creative and innovative thinker
Product Owner Salaries
Average Base Pay
Product Owner Career Path
Learn how to become a Product Owner, what skills and education you need to succeed, and what level of pay to expect at each step on your career path.
Years of Experience Distribution
Product Owner Insights
Plume (Denver, CO)“product is not empowered and there is no understanding of what pods/ empowered teams look like”
Intechnica“really open and honest about all aspects of the business and work and your role within”
University of Minnesota“Most of the people who choose to work there are genuinely good people who are great to work with.”
ITMAGINATION“I know who I can approach when requesting something and I see a quick reaction which is great.”
Rakuten Kobo“It's a fun product and almost everyone I encounter is great to work with.”
Bank of America“Career advancement is not clearly defined and you will have to find your own way.”
Baker Hughes“It was a great experience and I attribute my career growth to the company and its many highly competent employees.”
Puzzel“Full empowerment and trust to perform your job role to the best of your ability.”
Frequently asked questions about the role and responsibilities of product owners
The typical day of a product owner involves working in IT to oversee a scrum team and its outputs. These professionals are responsible for effective communication, team management, and the overall project output. They also engage in problem solving and strong attention to deadlines.
Product owners typically work in an office environment during business hours, which contributes to product owner job satisfaction. They communicate extensively with the scrum team and with other employees in the organization to ensure the final product meets the organization's needs.
The average pay for a product owner in the U.S. is $90,927 per year. The top earners in the field have an average base pay of $90,927 per year. Moving into lead or senior product owner roles can help increase yearly pay.
When thinking of becoming a product owner, remember that these professionals shoulder considerable responsibility, whether a project goes well or could use improvement. Additionally, managing a scrum team, meeting tight deadlines, and communicating between company departments can create a stressful work environment.