Product Management is in an unusual spot right now.
Hiring for the role has slowed, mid-level salaries are rising only modestly – but pay for senior Product leaders is climbing much faster, and a Chief Product Officer now earns more than any other C-level executive except the CEO.
As AI reshapes what products need to do, companies are hiring fewer Product Managers, but paying more for the ones who can lead that change.
Here's what Ravio’s latest Compensation Trends data shows on Product Manager salaries across European markets – including how pay differs by level, location and funding stage, plus the hiring and compensation trends shaping the function.
Quick answers: Product Manager salaries in 2026
Just looking for the data? Here’s the TLDR:
Source: Ravio Compensation Trends 2027 – live data from 1,800+ companies and 618,000+ employee datapoints, plus Ravio and Erevena executive compensation data, and a survey of 150 People & Reward leaders.
The average salary for a Product Manager in 2026 is £69,000 (source: Ravio Compensation Trends 2027).
This is the median salary as per Ravio's salary benchmarking data, for a UK-based P3 Established Professional Product Manager – a mid-level professional who has in-depth knowledge of their discipline, works independently with minimal guidance, and has a moderate impact on the success of their discipline.
That's up 3.0% on 2025 (£67,000) – modest growth, in line with Software Engineering salaries too.
2023 | 2024 | 2025 | 2026 | |
|---|---|---|---|---|
Product Manager (P3), UK median | £61,900 | £65,900 | £67,000 | £69,000 |
The average salary for a Senior Product Manager in 2026 is £89,500 (source: Ravio benchmarks, October 2026).
This is the median salary for a UK-based P4 Advanced Professional Product Manager – a senior individual contributor who owns a significant product area with a high degree of autonomy.
At management level, the median salary for a Head of Product (M3 Senior Manager) in the UK is £122,100 (source: Ravio Compensation Trends 2027).
This is the median salary as per Ravio's salary benchmarking data, for a UK-based M3 Senior Manager in Product – often titled Head of Product or Group Product Manager – a role providing leadership to other managers, accountable for the results of a team.
M3 pay is up 11.9% on 2025 – much faster growth than at mid-level.
2023 | 2024 | 2025 | 2026 | |
|---|---|---|---|---|
Head of Product (M3), UK median | £103,700 | £106,300 | £109,100 | £122,100 |
At executive level, the median base salary for a Chief Product Officer across Europe is £214,100 – second only to the CEO (£216,300) among C-level roles.
The median for a VP of Product is £156,000 (source: Ravio and Erevena executive compensation data, 2026).
That's a big step up between VP and C-level – especially in equity, where CPOs receive one of the largest grants of any executive role.
VP of Product | Chief Product Officer | |
|---|---|---|
Median base salary | £156,000 | £214,100 |
Median variable pay (% of base) | 19% | 25% |
Median annualised equity grant | £64,600 | £200,000 |
Product Manager salaries vary significantly across European markets, with the UK maintaining the highest median salaries whilst Spain has the lowest.
Mid-level Product Manager salaries range from £50,100 in Spain to £69,000 in the UK (source: Ravio Compensation Trends 2027).
Mid-level growth was modest this year, from +0.8% in the Netherlands to +6.6% in Spain – in line with Software Engineering.
Product Manager (P3) | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|
UK | £61,900 | £65,900 | £67,000 | £69,000 |
Germany | £59,300 | £61,500 | £62,200 | £64,700 (€75,700) |
Netherlands | £60,700 | £60,100 | £61,200 | £61,700 (€72,200) |
Sweden | £48,000 | £54,100 | £57,100 | £59,800 (€70,000) |
France | £53,100 | £54,200 | £55,400 | £57,400 (€67,200) |
Spain | £45,800 | £46,500 | £47,000 | £50,100 (€58,600) |
Senior Product Manager salaries range from £73,700 in Spain to £122,100 in the UK (source: Ravio Compensation Trends 2027).
Senior Product Manager (M3) | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|
UK | £103,700 | £106,300 | £109,100 | £122,100 |
Germany | £88,800 | £89,000 | £91,400 | £95,200 (€111,400) |
Netherlands | £91,000 | £90,000 | £92,600 | £97,400 (€114,000) |
Sweden | £71,300 | £75,400 | £80,500 | £81,100 (€94,900) |
France | £77,100 | £76,200 | £78,400 | £81,000 (€94,800) |
Spain | £69,800 | £66,900 | £68,700 | £73,700 (€86,200) |
Senior Product pay grew faster than mid-level pay this year, with M3 pay up 1-12% depending on location, led by the UK (+11.9%) and Spain (+7.3%).
Sweden, last year's fastest riser, slowed to just +0.7%.
Petra Skoglund, Strategic HR Advisor, thinks AI is behind it.
"Every tech company right now needs disruptive change to their product with AI," she says.
"A great product manager who understands product-market fit and can drive the company forward might be the most strategically important role there is at the moment."
Product Managers in London earn around 2-6% more than the UK as a whole, depending on level.
The median salary for a mid-level (P3) Product Manager in London is £71,400 (source: Ravio benchmarks, October 2026).
Level | London | All of UK | London premium |
|---|---|---|---|
Product Manager (P3) | £71,400 | £69,000 | +3% |
Senior Product Manager (P4) | £91,000 | £89,500 | +2% |
Head of Product (M3) | £129,700 | £122,100 | +6% |
The median salary for a mid-level (P3) Product Manager in the US is $142,500 (source: Ravio benchmarks, October 2026).
These are national medians. Salaries vary significantly between US cities, so for hiring in a specific location, use tiered location benchmarks – available in Ravio.
Level | US median salary |
|---|---|
Product Manager (P3) | $142,500 |
Senior Product Manager (P4) | $171,100 |
Head of Product (M3) | $213,800 |
Product Manager startup salaries increase consistently as startups progress through funding stages, reflecting company maturity and ability to pay competitive rates.
Late-stage companies (Series C+, IPO) pay around 8% more than early-stage companies (pre-seed, seed) for mid-level Product Managers, and 28% more for senior Product Management roles (source: Ravio Compensation Trends 2027).
Senior Product pay grew strongly at every stage this year (12-17%), and mid-level pay grew fastest at early-stage companies (+9.3%).
Product Manager (P3) | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|
Early-stage (pre-seed and seed) | £60,100 | £60,300 | £61,400 | £67,100 |
Growth-stage (Series A and B) | £63,100 | £64,900 | £66,400 | £69,800 |
Late-stage (Series C+ and IPO) | £66,100 | £68,300 | £69,900 | £72,500 |
Senior Product Manager (M3) | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|
Early-stage (pre-seed and seed) | £91,700 | £85,800 | £87,600 | £102,500 |
Growth-stage (Series A and B) | £101,200 | £101,200 | £103,900 | £121,000 |
Late-stage (Series C+ and IPO) | £110,000 | £113,600 | £117,200 | £131,500 |
Companies are hiring fewer Product Managers, but paying a premium for the right ones. For the Product function in 2026 (source: Ravio Compensation Trends 2027):
The combination of slow hiring, low attrition, and rising pay for senior Product leaders points to a market where companies are concentrating investment in a smaller number of experienced, AI-capable Product people.
Product Manager salaries sit in the middle-to-upper range of tech salaries. For P3 (mid-level) roles in the UK, Ravio’s 2027 Compensation Trends report indicates that Product Managers earn £69,000 compared to Software Engineers at £74,000 and Direct Sales at £59,500. At the M3 (Senior Manager) level, Product Managers earn £122,100 compared to Senior Engineering Managers at £126,900 and senior Direct Sales managers at £105,400.
Overall, Product Management commands competitive salaries that reflect the strategic importance of the role in driving product strategy and cross-functional collaboration.
Product Managers are well-compensated relative to the broader tech job market, with mid-level PMs earning £69,000, senior PMs (P4) earning £89,500, and Heads of Product (M3) earning £122,100 (Ravio 2027 Compensation Trends report). At executive level, Chief Product Officers earn a median of £214,100 – the highest-paid C-level role after the CEO.
Within the tech sector specifically, Product Management sits in the upper-middle tier – earning slightly less than Software Engineering but more than most non-technical functions. The role commands a premium due to the combination of strategic thinking, technical understanding, and stakeholder management required.
Product Managers in the UK earn £69,000 at the P3 (mid-level), £89,500 at P4 (senior), and £122,100 at the M3 (Senior Manager) level in 2026 (Ravio 2027 Compensation Trends report).
Mid-level pay rose 3.0% in 2026, while senior Product pay rose 11.9%. London salaries typically run slightly higher than the UK average. Product Manager salaries vary by funding stage, with late-stage companies paying around 8% more at P3 level and 28% more at M3 level compared to early-stage startups.
The median base salary for a Chief Product Officer in European tech is £214,100, with a median bonus of 25% of base salary and a median annualised equity grant of £200,000 (Ravio and Erevena executive compensation data, 2026). A VP of Product earns a median base salary of £156,000.
Reliable Product Manager salary benchmarking data comes from real-time compensation platforms like Ravio, which draws from direct HRIS integrations, unlike point-in-time annual salary surveys. Ravio provides global Product Manager salary data, across all job levels and funding stages, with data drawn from hundreds of thousands of employees across 1,600+ European tech companies.
Your monthly dose of market insights and expert perspectives
The average Account Executive (Direct Sales) salary in UK tech is £59,500 in 2026, with a typical 67% variable on top. See sales pay by level, country, and stage.
What should you pay at seed vs Series A vs Series C? Startup salary benchmarks for 2026 by funding stage, plus equity, variable pay, and pay strategy advice.
AI Engineer salaries in 2026, how much more AI companies pay (9.7%), and how 27% of companies are paying a premium for AI talent – from Ravio's live data.
