We’re back! It’s your favorite product email of the week where we cheer on the product managers or entrepreneurs that are grinding daily to build great products that SELL! Let’s dive in!

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There’s a lot of chatter out there about the economy. Water cooler talks (virtual and in-person) are consisting of:

“Do you think we’ll get laid off?”

“We’re product managers so I don’t think we’ll get laid off?”

“My father-in-law got laid off. He’s always hated me.”

The layoff thought is always in the back of our minds. Does anyone really know what will happen with the economy and how many more companies will start laying people off? The crystal ball that I left in my childhood magic set at home probably does <insert photo of Ben as a nerdy kid playing magic>. But since we don’t have that we’ll say no. We have no f*ing idea.

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That being said, I wanted to share some metrics about Product Managers that should hopefully inspire some confidence and help you sleep well at night.

Here are 10 metrics about product managers!

1. In 2020, there were 698,000+ product managers globally. In 2014, that number was 146,000. That’s a lot of growth!
2. 66% of product managers are male. 33% are female.
3. Product managers report they spend 52% of their time on unplanned fire-fighting activities (I believe that 🔥)
4. In the US, the average base pay for a product manager is $110,916/year. In India, the average is $21,687/year for a product manager.
5. The top three companies hiring product managers are UBER, Microsoft, and Amazon.
6. The best states to work in as a product manager are Washington (2,243 jobs, $122,737 average salary), Colorado (1,141 jobs, $122,160 average salary), New York (3,271 jobs, $121,595 average salary), California (8,881 jobs, $120,445 average salary), District of Columbia (298 jobs, $128,369 average salary).
7. 54% of product managers work for companies that are doing $101 million or more in annual revenue.
8. Product managers spend 28% of their time on strategic work and 72% on tactical.
9. Switzerland pays its product managers more than any other country averaging salaries of $128,000.
10. Growth demand is high for product managers. In the U.S., product manager positions are rated the 4th best job. The last time we checked Glassdoor, there were 12,173 open product manager roles.

So if you’re in a product role, stress a little less and live a little more. If you’re looking for a product role, you’re jumping into one of the hottest careers in the world. We’re cheering you all on!

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Design Matters

Let’s take something as unsexy as laundry and make it well… less unsexy. I love it when product folks, designers, and entrepreneurs take their talents to some of the most boring industries in the world. Check it out! 👔

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Check out the project on Behance!

This Edition Of Product Hacks Is Brought To You By:

Me! No cool sponsors this week for the dozens of readers. So you all get our hero, Mr. Elon Musk, because his products go to space and that’s where our logo is from.

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About The Writer:

Ben Sampson is a product nerd and current co-founder at WeHero. He has built 4 companies in the past 10 years, and worked as a consultant for 4 years helping some of the largest companies in the world like Bloomberg, Dun & Bradstreet, etc. make some of the best products in company history.

Yes, I wrote this in 2nd person because it just sounds sooo much cooler! See you all on Twitter or LinkedIn.