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Do you know the job role for expert Certified Scrum Product Owners (CSPOs) is in high demand today? As more organizations adopt the Agile Scrum approach, the role of a CSPO becomes crucial for a successful Agile Transformation.

Defining and prioritizing the Product Backlog, ensuring alignment with the Product Vision, and collaborating closely with stakeholders to deliver maximum value - the CSPO does it all! Naturally, global enterprises are paying well to those who can excel in this role.

Are you also looking for suitable opportunities as an aspiring Product Owner? If so, let's explore the salary trends for Product Owners in 2024!

Academic and Skills Requirements For Product Owners:

Typically, a bachelor's degree in a relevant field, such as Computer Science, Business Administration, or Engineering, is preferred for aspiring Product Owners. However, the academic requirements might be changed based on the company’s selection criteria.

Technical Skills:

• Proficiency in Agile methodologies and frameworks such as Scrum.
• Expertise is using modern project management tools like Trello or Jira.
• Understanding of software development processes and technologies.

Non-Technical Skills:

• Strong communication skills to handle stakeholders’ requirements and development teams.
• Excellent decision-making abilities to prioritize and refine the Product Backlog.
• Empathy towards end-users to ensure products meet their needs and expectations.

With these academic qualifications and skills, aspiring Product Owners can effectively shine through the assigned roles and responsibilities.

Product Owner Salary Based On Location:

Different states and cities across various countries have average salaries for Product Owners. Let’s take a look at the expected pay scale across the world!

• United States: Salaries for CSPOs vary by location in the US. For instance, in San Francisco, CSPOs earn an average of $110,000 annually; in New York City, they make around $105,000 annually.
• Europe: European salaries also fluctuate. In the United Kingdom, CSPOs earn approximately £50,000 per annum. Meanwhile, in Germany, the average salary is around €60,000 annually.
• Asia: Asian countries offer competitive salaries too. In India, CSPOs make around ?1,000,000 per year on average. In Singapore, the annual salary averages SGD 80,000.

Please note these are just average salary expectations highlighted in this section. The actual salary might vary depending on your current situation and the location you are applying for!

Product Owner Salary Based On The Experience Level:

As the Product Owner is an Agile Leadership position, the salary might fluctuate depending on what type of experience you have and what your primary expertise is about. However, go through the following suggestions to get a general idea!

• Entry Level: Those just starting in the field can expect to earn around $60,000 annually in the US. In Europe, entry-level salaries hover around £35,000 per year.
• Mid-Level: With experience, salaries increase. Mid-level CSPOs earn approximately $90,000 annually in the US and €45,000 in Europe.
• Senior Level: Senior CSPOs can command significant salaries. In the US, senior-level professionals earn over $120,000 annually; in Europe, they make around €70,000 annually.

Does Having A CSPO Certification Matter?

CSPOs typically earn higher salaries than non-certified counterparts. So, holding the CSPO certification from Scrum Alliance can be advantageous for job applications! If you don’t have a certification yet, consider enrolling in a CSPO course from PremierAgile and training under an expert Agile Coach. It will help you greatly in your job interview!

What's The Average Product Owner Salary Expectations?

According to Indeed, the average pay scale for a Product Owner is over $110l, with an average hourly rate of $58. The lowest salary is $59k, but it can go up to $168 depending on the applicant’s professional expertise and skillset. 

So, Certified Scrum Product Owners can quickly grab high-paying job roles across different MNCs. Now, it's up to you to utilize your talent and increase your earnings with a high-paying Product Owner’s role!

Reference:

https://www.indeed.com/career/product-owner/salaries

https://www.payscale.com/research/IN/Job=Product_Owner/Salary