2024 Insight: Navigating Product Analyst Salary Expectations

2024 Insight: Navigating Product Analyst Salary Expectations

Product analyst salaries are among the highest in the field of data analytics. Product analysts earn more than data analysts, marketing analysts, and business intelligence analysts. Salaries for product analysts can vary widely, with factors like the size and industry of the company, the city of employment, and the amount of work experience/seniority all having a significant impact on starting pay. Here are the latest numbers on salaries for product analysts:

$95,289

Average Base Salary

$132,406

Average Total Compensation

Min: $56K
Max: $150K
Base Salary
Median: $90K
Mean (Average): $95K
Data points: 870
Min: $7K
Max: $245K
Total Compensation
Median: $113K
Mean (Average): $132K
Data points: 41

What Is a Product Analyst?

Product analysts help companies understand how their products are performing. They use data to analyze customer behavior, sales data, market trends, and product features in order to provide recommendations on how to improve the product.

Product analysts work closely with product managers and other stakeholders to ensure that the product is meeting expectations from all parties. They also monitor the performance of their companies’ products over time and help ensure that the product remains competitive in the market. Product analysts are often tasked with performing many of the following responsibilities:

  • Collect and analyze data related to a company’s products, such as sales numbers, customer feedback, and market trends.
  • Use data to identify opportunities for product improvement and growth.
  • Develop and present reports on product performance to stakeholders, including product managers and company executives.
  • Collaborate cross-functionally with other teams, including engineering, design, or marketing, to ensure that products meet customer needs and are aligned with the company’s overall strategy.
  • Monitor and track product performance over time and make recommendations for adjustments as needed.
  • Stay up-to-date on industry trends and best practices, and apply this knowledge to product analysis and recommendations.
  • Participate in product development and testing, providing insights and recommendations based on data analysis.

Product Analyst Job Outlook

Demand for product analysts is already high, with demand for the role expected to increase. According to data from the Bureau of Labor Statistics, openings for product analysts will grow by 19% over the next decade, which is “much faster than average” than the growth for other positions nationwide. Many product analysts become product managers after they’ve gained experience in the industry, another position which is expected to see greater demand in the future.

Product Analyst Salary by Location

In the United States, the reported salaries for product analysts are highest in San Francisco, Seattle, and Portland.

However, cost of living impacts earning potential. Product analyst salaries in Chicago, for example, are about $\$25,000$ less than product analyst salaries in New York, but wages go further in Chicago.

highest paying US cities for product analysts

$77K
$145K
Seattle, WA
Median: $121K
Mean (Average): $113K
Data points: 13
$73K
$160K
San Francisco, CA
Median: $110K
Mean (Average): $113K
Data points: 343
$79K
$135K
Portland, OR
Median: $120K
Mean (Average): $112K
Data points: 13
$71K
$146K
Austin, TX
Median: $93K
Mean (Average): $97K
Data points: 27
$59K
$139K
Los Angeles, CA
Median: $88K
Mean (Average): $95K
Data points: 28
$58K
$138K
Denver, CO
Median: $87K
Mean (Average): $92K
Data points: 5
$60K
$119K
Dallas, TX
Median: $94K
Mean (Average): $90K
Data points: 35
$56K
$145K
New York, NY
Median: $82K
Mean (Average): $88K
Data points: 132
$69K
$99K
Phoenix, AZ
Median: $95K
Mean (Average): $87K
Data points: 5
$70K
$110K
Washington, DC
Median: $83K
Mean (Average): $84K
Data points: 12
$73K
$100K
Raleigh, NC
Median: $83K
Mean (Average): $83K
Data points: 11
$45K
$120K
Boston, MA
Median: $81K
Mean (Average): $82K
Data points: 54
$61K
$127K
Pittsburgh, PA
Median: $68K
Mean (Average): $80K
Data points: 8
$55K
$96K
Indianapolis, IN
Median: $82K
Mean (Average): $79K
Data points: 8
$63K
$94K
Nashville, TN
Median: $81K
Mean (Average): $79K
Data points: 7

The Product Analyst salary in Gainesville, FL is the highest paying salary with a $115,500 average base salary. The Product Analyst salary in Des Moines, IA is the lowest paying salary with $45,406 average base salary.

How Experience Affects a Product Analyst’s Salary

Work experience and seniority are important factors in determining the salary of product analysts. Generally, there’s a significant bump in salary for senior product analysts, as the broader skill set and advanced knowledge that senior product analysts possess add more value to a company.

Ultimately, seniority’s effect on the pay of a product analyst depends on many factors, including the company, location, and skills. Taking a broad look, here’s how you can expect your salary to change at different career levels:

Entry Level: Pay for entry level product analysts starts around $\$90,000$ in the U.S.

Mid-Level: After 2-3 years, product analysts experience a bump in earnings. Mid-level product analysts earn about $\$112,000$.

Senior Level: At the higher levels, the bump in pay isn’t as significant. On average, senior product analysts earn $\$115,000$ in the U.S.

Manager*
$242K
Manager
Median: $242K
Mean (Average): $242K
Data points: 1
$67K
$175K
Senior
Median: $111K
Mean (Average): $115K
Data points: 167
$83K
$155K
Mid-Level
Median: $115K
Mean (Average): $113K
Data points: 29
Entry Level*
$53K
$110K
Entry Level
Median: $82K
Mean (Average): $82K
Data points: 2

Seniority can increase the pay of a Product Analyst. Here are the base salaries of a Product Analyst grouped into 4 seniority categories.

Top Companies for Product Analyst Salaries

Product analyst salaries can vary widely by company. Generally, companies in the tech and finance industries pay the highest (with Google product analyst salaries among the top). The top-paying companies for product analysts include:

highest paying companies for product analyst

This is based on salary data submitted by Interview Query members. Several other companies like Walmart ($\$116,000$), Uber ($\$110,000$), Bloomberg ($\$104,000$), and Salesforce ($\$103,000$) also offer some of the best wages for product analysts. Keep in mind again that the cities both you or the company are located in can have a big impact on how far each dollar will go.

$99K
$187K
Google
Median: $151K
Mean (Average): $148K
Data points: 28
$140K
$155K
Square
Median: $147K
Mean (Average): $146K
Data points: 11
$113K
$164K
Credit Karma
Median: $144K
Mean (Average): $142K
Data points: 8
$94K
$154K
Ancestry
Median: $126K
Mean (Average): $126K
Data points: 14
$99K
$154K
Pinterest
Median: $112K
Mean (Average): $120K
Data points: 16
$106K
$136K
Postmates
Median: $119K
Mean (Average): $119K
Data points: 9
$101K
$154K
Walmart Global Tech
Median: $106K
Mean (Average): $119K
Data points: 6
$97K
$136K
Nike
Median: $120K
Mean (Average): $117K
Data points: 10
$90K
$149K
Thumbtack
Median: $119K
Mean (Average): $116K
Data points: 13
$90K
$143K
Uber
Median: $105K
Mean (Average): $110K
Data points: 55
$88K
$131K
Dropbox
Median: $107K
Mean (Average): $109K
Data points: 11
$80K
$137K
Bloomberg Lp
Median: $102K
Mean (Average): $104K
Data points: 9
$79K
$138K
Salesforce
Median: $96K
Mean (Average): $103K
Data points: 34
$71K
$118K
Visa
Median: $97K
Mean (Average): $95K
Data points: 31
$72K
$106K
Eclinicalworks
Median: $89K
Mean (Average): $91K
Data points: 43

The Product Analyst at Twitter salary is the highest paying salary with a $200,000 average base salary. The Product Analyst at The Home Depot salary is the lowest paying salary with $50,000 average base salary.

Product Analyst Salary Compared to other Positions

$85K
$240K
Product Manager
Median: $155K
Mean (Average): $160K
Data points: 7,929
$79K
$225K
Machine Learning Engineer
Median: $146K
Mean (Average): $149K
Data points: 4,411
$70K
$184K
Data Scientist
Median: $120K
Mean (Average): $123K
Data points: 30,171
$62K
$197K
Software Engineer
Median: $105K
Mean (Average): $116K
Data points: 281,280
$64K
$168K
Data Engineer
Median: $100K
Mean (Average): $107K
Data points: 28,373
$56K
$150K
Product Analyst
Median: $90K
Mean (Average): $95K
Data points: 870
$56K
$141K
Business Intelligence
Median: $90K
Mean (Average): $94K
Data points: 10,676
$49K
$174K
Research Scientist
Median: $80K
Mean (Average): $94K
Data points: 14,454
$46K
$145K
Data Analyst
Median: $75K
Mean (Average): $83K
Data points: 32,111
$44K
$160K
Growth Marketing Analyst
Median: $68K
Mean (Average): $83K
Data points: 1,928
$55K
$122K
Business Analyst
Median: $76K
Mean (Average): $81K
Data points: 49,421

Most data science positions fall under different position titles depending on the actual role.

From the graph we can see that on average the Product Manager role pays the most with a $159,913 base salary while the Business Analyst role on average pays the least with a $80,866 base salary.

How to Get Paid More as a Product Analyst

Beyond seniority, company, and location, there are other factors that can impact the salary of product analysts.

For candidates who are recent graduates, a project, internship, or volunteer experience can have an impact on starting salary, while for more advanced positions it will be specialized skills or knowledge that can result in increased pay. Some of the top things you can do to command a higher salary include:

  • Developing specialized skills, such as expertise in a particular industry, expertise in a particular type of product, or knowledge of specific data analysis tools or techniques.
  • Pursuing additional education or certifications, such as a master’s degree in business administration (MBA), a master’s degree in data analytics, or a certification in product management. Often, companies will offer education stipends of hundreds to thousands of dollars to current employees that you can utilize.
  • Showing a track record of success in improving product performance, which can demonstrate your value to the company.
  • Seeking out opportunities for career advancement, such as taking on more responsibility or leading a team of product analysts. Even informal leadership roles (serving on committees, internal focus groups) can make you more marketable.
  • Negotiating your salary during the hiring process or during performance reviews. Back up your compensation request with market research on industry standards for product analyst salaries in your area.

You might also try Interview Query’s data analytics learning path or product metrics learning paths to prepare for interviews!