The Best MBA Programs for Product Management
A comprehensive guide to the top business schools for launching a career in product management, including average salaries and examples of relevant courses.
By Amelia C.
Posted October 10, 2024
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Top MBA in Product Management Programs
Product management is an industry focused on creating products and brands, and making sure that they succeed in the market. While the process varies depending on the kind of product, generally it starts with ideation, in which companies gather ideas for a product and evaluate its quality in comparison to the competition. PMs also look at the demand for the product, the customer targets, and its revenue potential.
In this article, we’ll explore some of the best MBA programs for product management, highlighting key programs, sample courses, and average salaries to help you find the right path to a successful career in product management. Whether you're just starting or looking to pivot into a more strategic role, these MBA programs can provide the knowledge, network, and skills needed to thrive as a product manager.
What is Product Management?
Product management is an exciting field that involves creating and launching successful products and services. It requires a unique blend of business knowledge, technical understanding, and creative vision. Product managers are responsible for overseeing the entire life cycle of a product, from beginning to end, and ensuring its success and longevity.
PM’s must excel in team-building, leadership, and influence without direct authority. Product management involves building high-performing teams, coordinating with diverse stakeholders, and making strategic decisions to drive business growth.
Why an MBA in Product Management?
An MBA in product management is a valuable investment for career growth and opportunities. It expands one’s skill set, knowledge base, and career prospects, creating lucrative opportunities in the competitive job market.
An MBA in product management equips individuals with the necessary skills to navigate the modern business landscape, including strategic decision-making, brand management, and innovation. With an MBA in product management, individuals can gain a competitive advantage in the job market and pursue leadership roles in product development.
Should Product Managers Get an MBA?
Whether or not an MBA is right for you depends on your trajectory and goals. An MBA can offer a lot of benefits, such as enhancing your business acumen in areas like finance, marketing, and strategy, which are critical for PMs looking to move into leadership roles. Additionally, the networking opportunities can open doors to career advancement or help facilitate a transition into product management from another field.
An MBA, however, can also be a significant time and financial investment, and it’s important to weigh that against your trajectory. Unlike other fields, PMs can easily find success in their careers without a graduate degree, relying instead on industry experience and technical skills.
Read: When to Get an MBA, When Not To – and How it Affects Your Chances of Getting In
Best MBA Programs for Product Managers
1. Sloan School of Management — Massachusetts Institute of Technology
- Percentage of Graduates in Product Management/Development: 13.2%
- Average Base Salary: $168,095
As one of the most prestigious MBA programs for technology-minded individuals, Sloan has several opportunities in product management. They offer three tracks, one of which is the Enterprise Management Track where students learn a holistic approach to solving modern business problems. As outlined on Sloan’s website, this is the best track for those hoping to enter a career in PM.
In addition to this track, Sloan offers a Digital Product Management Certificate. MBA candidates interested in PM can get this certificate by taking the required number of PM core and elective credits and participating in a real-life, hands-on product management project. 17% of the students who complete this certification go on to take jobs in PM, making it the second-largest job category for Sloan MBA graduates.
This highlights the diverse product management careers available to graduates, ranging from product marketing in consumer goods to technical product management in technology firms.
Lastly, Sloan also has a Product Management Club, one of the largest clubs in the business school with over 700 active members. This club sponsors events, connects students with peers and alumni, and hosts guest speakers.
Example PM Courses at MIT Sloan:
- Digital Product Management and Digital Product Management Lab
- Entrepreneurial Strategy
- Product Design and Development
- Platform Strategy and Entrepreneurship
- The Analytics Edge
Learn more about the MBA program at MIT.
2. Graduate School of Business — Stanford University
- 9% of graduate students are Product Managers (PMs)
- Average Base Salary: $189,010
Like Sloan, GSB is known for being a world leader in technology due to its proximity to Silicon Valley, the high quality of professors, and its history of excellence. The curriculum is intended to be well-rounded and optimized for flexibility. The first year of the MBA degree program provides a foundation in general management knowledge while the second year can be spent specializing skills through electives, seminars, a joint degree, and courses in other Stanford schools. There are no MBA “tracks,” but the wide variety of electives offered allows students to choose their own paths.
Example PM Courses at Stanford GSB:
- Strategies of Effective Product Management
- Strategic Management of Technology and Innovation
- Product/Market Fit
- Assessing High-Impact Business Models in Emerging Markets
- Strategic Thinking in Action — In Business and Beyond
Learn more about the MBA program at Stanford GSB.
3. Haas School of Business — University of California, Berkeley
- 6% of graduate students are Product Managers (PMs)
- Average Base Salary: $162,831
Haas is one of the MBA programs that funnels the most students into careers in technology upon graduation. It offers a concentration in Technology for candidates that want a broader range of skills in data analysis, product management, business development, and strategy. Haas is also known for its curriculum’s heavy emphasis on experiential learning.
For this reason, future product managers will be able to take advantage of learning about PM inside the classroom and outside of it.
Example PM Courses at Berkeley Haas:
- Product Management
- Team Facilitation for Product Managers
- The Lean Launch Pad
- Built for Growth
- Strategy
Learn more about the MBA program at Berkeley Haas.
4. Stern School of Business — New York University
- 4.7% of graduate students are in Product Marketing
- Average Base Salary for PM :$175,000
The best MBA program for entering a career in product management is the Tech MBA offered by NYU Stern. Candidates will learn the fundamentals of business and expand their knowledge of technology through four areas of the curriculum: the business core, the technology core, Stern Solutions, and elective courses. In addition to the tech MBA, the school also has a Tech Product Management specialization available which uniquely prepares students for careers in product management. This specialization can be seen as a product management MBA, enhancing relevant skills and facilitating career advancement in various markets and industries.
Example PM Courses at NYU Stern:
- Digital Disruption: Creating and Capturing Value
- Emerging Technologies
- High Tech Entrepreneurship
- Predicting the Future of Technology
- Design Thinking for Managers
Learn more about the MBA program at NYU Stern.
5. Kellogg School of Management — Northwestern University
- 25% of graduate students are in tech sector
- Average Base Salary: $207,000
The Kellogg School of Management is renowned for its top-tier MBA program, particularly for students aspiring to build successful careers in product management. With an average base salary of $207,000, graduates from Kellogg's MBA in Product Management program are well-prepared for leadership roles in technology companies and various industries. Kellogg’s Technology Management Pathway offers a specialized track that equips students with the necessary skills to excel in product management, product marketing management, and technology strategy roles. This MBA program offers a comprehensive product management curriculum, divided into three main sections: foundational courses, competitive advantage, and exploratory courses.
Example PM Courses at Kellogg:
- Product Management for Technology Companies: An Entrepreneurial Perspective
- Technology Marketing
- Launching New Products and Services
- Customer Analytics and AI
- Introduction to Software Development (foundational course for PM at Apple, Amazon, Meta, Google, Microsoft, etc..)
Learn more about the MBA program at Kellogg.
Bonus: Tepper School of Business — Carnegie Mellon University
- 24% of graduate students are in tech sector
- Average Base Salary: $156,291
Tepper is a program well-known for bringing students into product management. It offers a product management MBA track in Technology Strategy and Product Management for its MBA candidates that is designed to build a deep understanding of strategic and management skills alongside the development and management of technologies. Graduates of this track are uniquely positioned to solve the issues that lie at the intersection of business and technology.
For individuals who are interested in a career in PM, CMU also has a Master of Science in Product Management. This program is only one year long and is offered by both the Tepper School of Business and the top-ranked CMU School of Computer Science. Many of the students come from technical backgrounds but others have come from marketing, finance, and other business-related areas.
Example PM Courses at CMU Tepper:
- Finance for Product Managers
- Data Science for PMs: Making Products Count
- New Product Management
- Product Design Thinking and Practice
- Managing Intellectual Capital and Knowledge-Intensive Industries
Learn more about the MBA program at CMU Tepper.
Career Outcomes and Recruitment
Graduates of MBA programs in product management can pursue a variety of career options, including product manager, senior project manager, and director of product management. According to Glassdoor, the median base pay for a product manager in the United States is approximately $196,314, with top-tier companies such as UBER, Microsoft, Amazon, Apple, Google, Facebook, Uline, Zillow, SAP, Adobe, and LinkedIn hiring product managers.
An MBA in product management can also lead to career opportunities in tech product management, business management, and brand management, with median salaries ranging from $140,000 to $150,000.
Where Can I Start?
We hope you found this list helpful as you navigate through the MBA admissions process or your product management application. Here are some other resources to get you started:
- Tips from an Expert: How to Prepare for Your Product Management Interview
- An Expert’s Guide to Resumes: Five Tips to Make You Stand Out
- 20+ Free Product Management Resources
- Rejected From an MBA Program? Here's What to Do
- An Expert Coach's Top Tips for Non-Traditional MBA Applicants
- Top 25 Business Schools' Acceptance Rates & Class Profiles (2023)
Need Personalized Guidance?
Navigating the MBA application process or preparing for a product management career can be challenging, but you don’t have to do it alone. Our expert coaches at Leland have a wealth of experience helping candidates succeed at top-tier business schools like Harvard, Stanford, and Wharton. Whether you need help with application strategy, crafting a compelling resume, perfecting your interview skills, or developing a personalized approach, our coaches are here to support you every step of the way.
An expert MBA coach can help you with:
- Financial Aid & Scholarships
- Editing Essays
- Recommendations
- Interviews & Mock Interviews
- Waitlist Strategy
- School Selection
- Application Strategy
Maximize your chances of success with the insider expertise and proven results of our Leland coaches. Connect with a coach today and take the next step toward achieving your MBA and product management career goals!
ADD MBA COACHING
FAQs for Top MBA in Product Management Programs
1. What is an MBA in Product Management? An MBA in product management is a specialized degree program offered by many top business schools that focuses on developing the skills needed for a successful career in product management. This program includes courses on business fundamentals, product development processes, and strategic decision-making, preparing graduates for leadership roles in product management, product marketing management, and technology strategy.
2. Why should I consider an MBA in Product Management? An MBA in product management equips you with a blend of business acumen, management skills, and technical knowledge. It enhances your ability to oversee the entire product lifecycle, from ideation to launch, while providing valuable opportunities for career advancement in competitive job markets.
Graduates can pursue roles such as product manager, product marketing manager, and executive management positions, often with attractive average salary packages.
3. What are the best MBA programs for Product Management? Some of the best MBA programs for product management include the Sloan School of Management at MIT, the Graduate School of Business at Stanford University, the Haas School of Business at UC Berkeley, the Stern School of Business at NYU, and the Kellogg School of Management at Northwestern University.
These programs offer specialized courses and experiential learning opportunities tailored to future product managers.
4. What courses are typically included in an MBA in Product Management? Courses in an MBA program for product management may include Digital Product Management, Product Design and Development, Technology Marketing, Strategy, Customer Analytics, and Data Science for Product Managers.
These courses focus on building both business fundamentals and practical skills needed to manage product development processes in technology companies and larger technology firms.
5. Can I pursue a career in Product Management without a technical background? Yes, while many product managers have technical backgrounds in computer science, computer engineering, or related fields, it is not a strict requirement. An MBA in product management provides the necessary business management skills and strategic thinking needed to succeed in product management careers, even for those with non-technical undergraduate degrees.
6. What job opportunities are available after completing an MBA in Product Management? Graduates with an MBA in product management can explore a wide range of career opportunities, including roles like product manager, senior product manager, director of product management, and product marketing manager.
Many business schools report high placement rates for their MBA graduates in technology companies, consumer goods, and digital financial services, with typical salaries ranging from $140,000 to $150,000.
7. How do MBA programs help prepare for Product Management careers? MBA programs provide a combination of theoretical knowledge and experiential learning. Students learn essential business skills like strategic planning, leadership development, communication, and data analysis, all of which are critical for product management. Many programs also offer specific product management tracks or specializations to further refine these skills.
8. What is the average salary for MBA graduates in Product Management? The average base pay for MBA graduates in product management varies by school and location, but typical salaries range from $130,000 to $170,000. Graduates from top-tier business schools, such as MIT Sloan and Stanford GSB, may command even higher salary packages, particularly in competitive markets like technology and digital product management.
9. Are there specialized MBAs in Product Management? Yes, some business schools offer specialized MBAs focused on product management. For instance, the Tech MBA at NYU Stern includes a specialization in product management, while the Tepper School of Business at Carnegie Mellon offers a Technology Strategy and Product Management track. These specialized programs are designed to equip students with specific skills for product management careers.
10. How can I choose the right MBA program for Product Management? When choosing an MBA program, consider factors such as the school's reputation, course structure, specialization options, experiential learning opportunities, and connections to industries you are interested in. Research the average salaries, job placement rates, and feedback from current students and alumni to identify programs that align with your career goals.
