What is a product owner?
A product owner is a key player in the world of product development bridging the gap between the customer and the business. They're in charge of guiding the product through its lifecycle, from the early stages to its final release.
A product owner's responsibilities include managing the product backlog (a list of tasks and features to be worked on), defining the vision for the product, and making sure everything runs smoothly during development. In a nutshell, they're the go-to person to ensure the product turns out great and meets customers' expectations.
The average salary for a product owner in Germany is €70,000
Product owners in Germany earn an average salary of €70,000 per year or around €5,800 per month. Salary ranges from €65,000 on the low end to €88,000 on the higher end. Since product owners have a direct impact on the product and service of a business, they generally receive equity and bonus options. Glassdoor puts this figure around €6,000/yr while PayScale estimates anywhere from €6,000-€10,000/yr.
We can use TechPays to drill down further into company-specific salaries. For example, product owners at HelloFresh are earning €60k/yr (for a mid-level position) while a PO working in the automotive industry earns +€100,000. It looks like most product owners earn between €5,000-€10,000 per month.
Salary by experience
In Germany, product owner salaries vary by experience. Entry-level positions earn €65,000, slightly more than juniors at €63,000. Mid-level roles make €70,000, while senior product owners see a significant increase, earning €90,000.
Taxes in Germany
When you're trying to figure out your take-home pay in Germany, keep in mind where you live, your experience, your job title, and your tech skills. Use the German tax brackets (below) or a tax calculator to get a ballpark idea of your monthly take-home after taxes.
Here’s an example: if you're living in Germany and making €70,000 a year (around €5,800 a month), you'll have €27,229 taken out for taxes and other deductions. That means you'll end up with a net income of €42,771 per year, €3,564 per month, or €823 per week.
German tax brackets
Average salary by city
When looking at product owner salaries across different cities in Germany, you'll notice some differences. Berlin offers a salary of €66,000, while Munich and Hamburg pay a bit more, with €73,000 and €68,000 respectively. Frankfurt provides the second-highest salary at €74,000. However, Stuttgart stands out as the top-paying city for product owners, offering an impressive €82,000. On the flip side, Düsseldorf has the lowest salary among these cities, with product owners earning €61,000.
The cost of living in German cities can also impact your take-home pay, as it varies significantly across the country. Cities like Munich, Frankfurt, and Stuttgart are known for higher living expenses, which could mean more of your salary goes towards housing, transportation, and other necessities, ultimately affecting your disposable income.
Median salary by country
Comparing product owner salaries across different countries, we find that the United States leads the way with an average salary of $90,000. Germany follows with a competitive $78,000, while Canada and the UK offer slightly lower salaries at $66,000 and $69,000, respectively. India, on the other hand, has a significantly lower average salary for product owners, standing at $24,000.
Salary by Company
When comparing product owner salaries across industries, we see a range of figures. Automotive leaders like Robert Bosch and BMW offer attractive salaries of €98,000 and €96,000, while tech giants SAP and Deutsche Telekom also pay generously at €96,000.
On the other hand, the banking and fashion sectors show lower salaries, with Deutsche Bank at €79,000 and Adidas at €71,000. The tech and e-commerce industry has a broader spectrum, with HelloFresh offering €66,000 and Trivago at a more modest €52,000. It's evident that the industry you choose can significantly impact your pay.
Fair and transparent salaries
Embracing transparent pay during the job search is like paying it forward for others—it allows job seekers to know what to expect and saves them time and energy when comparing positions. Furthermore, it aids in better salary negotiation during the hiring process. By leaving a salary review 💸, you're directly contributing to a more transparent and fair job market for everyone. If your earnings as a product owner differ from the average, share a company review to give your fellow product owners valuable insights. Remember, your contribution can make a real difference for others in the community. 😊