The ultimate guide to Product Owner Salary in India

What is a Product Owner?

In Scrum, the product owner has the responsibility to make sure that the project is successful. Moreover, the product owner is said to own the product like his or her own and ensures that it offers value to the customers.

Furthermore, the PO helps to manage and optimize the product backlog to further maximize the value of the product. Since the product owner is part of the scrum team, he or she is also responsible to facilitate communication and self-organization.

Factors that influence the Product Owner salary

Here are some factors that can influence the Product Owner Salary:

• Experience: One of the top most factors that influence the Product Owner Salary is the experience of the PO and his or her past experience in the product ownership role. The more number of years of experience one holds, the higher the salary will be and similarly, an entry-level product owner will have a fresher’s salary.
• Organization or company: Another factor affecting the salary range is the company you are applying or working in. A top MNC is likely to pay higher salaries compared to a start up or a mid level company.
• Location: It is another factor that influences the salary range of a product owner. For instance, working as a product owner in an urban city vs rural locations.
• Educational qualifications: Another important factor that affects the salary range is your educational qualifications. For example, a candidate with high educational qualifications and certifications is likely to earn a higher salary range compared to the one that does not hold the minimum qualification requirements.

Is Product Owner a good career option?

Since the role of the product owner is quite demanding and is growing at a fast pace, it is an ideal career option for people who are interested in product ownership.

Nevertheless, a lot of people discover that the rewards and challenges of the job make it a pleasant and gratifying career option.

Here are some reasons why a product owner is a good career option:

• High demand: Product ownership is a high demand career, which supports job stability and leads to a lucrative career, according to the World Economic Forum.
• Good pay: According to PayScale, one of the main benefits of working as a PO is the high pay, which may fluctuate as per the experience, education, or location.
• Leadership role: Working as a PO is a fantastic opportunity to develop those talents and advance in your career if you appreciate being in a leadership role and possess the necessary interpersonal abilities.
• Excellent job satisfaction: The product owner's position is incredibly important within a company because it directly affects how that business operates. This way a product owner may get an excellent job satisfaction.

What is the average Product Owner's Salary in India and different countries?

To get an idea about the salary range of a product owner in different geographical locations, you can refer to the detailed list below:

Product Owner salary by year of experience

The salary range of a product owner also ranges with the experience held by the product owner. Here is a brief statistics about how much you can earn as you gain more experience.

• 1-2 years- An entry level professional can expect an average salary of ₹850,000
• 2-4 years- A Product owner holding an experience of 2-4 years can expect a salary of ₹917,322
• 5-9 years- An experience ranging anywhere between 5-9 years can earn about ₹1,420,861
• 10-19 years- A product owner with this experience can expect to earn ₹2,044,506

Conclusion

Being a product owner can be an exciting career as it comes with its own challenges and perks. But someone who has a knack for product ownership can easily take on this career trajectory. In this guide, we have discussed the salary range of a product owner in India as well as other countries and how it can range depending upon several factors such as experience or geographical location.

The CPOA (Certified Product Owner Analysis) certification is a globally recognized certification that validates an individual's ability to effectively manage and analyze the product backlog in a Scrum project.

If you are someone who is looking to gain a competitive edge in this competitive market, then gaining the CPOA certification can help you earn higher and have a better understanding of the product ownership domain.

You can opt for the comprehensive CPOA certification training course offered by Techcanvass to ace the exam on your first attempt. The course is designed to prepare individuals for the CPOA certification exam. You will get exam tips, practice questions, and a simulated exam to help you feel confident and prepared for the exam.