OVERVIEW
What Is a Product Owner?
A product owner is a member of the development team that takes on a role similar in some ways to that of a product manager. They are responsible for ensuring the product they create reaches its maximum value by representing the stakeholders in the project, communicating the project goals to the team, and ensuring the project backlog is sufficiently organized. The specifics of this role can vary from company to company, with many organizations interpreting it differently. Some might be more hands-on, while for others this could be a more strategic position.
RESPONSIBILITIES
What Does a Product Owner Do?
A good product owner is a team leader who represents business owners and product users throughout the software development process. As one might imagine, this is a complex role involving many variables. But here are a few things that any product owner might find themselves asked to do during their working day.
- Development. Product owners will often be asked to contribute to the design and development aspect of product creation, ensuring that the needs of users are represented throughout the design process, while also bearing in mind the client. This involves carefully balancing the two while working with a team to ensure the best possible outcome for the project.
- Backlog management. One vital tool at a product owner’s disposal is the backlog. That’s basically a list of requests that a product owner will sift through, deciding priority, responses, who does what, and when. The proper management of this process is essential for maximizing product value for shareholders.
- Quality Assurance. If the main job of a product owner is to provide maximum product value for a client, then one way they do this is by keeping a close eye on the project as it develops. A product owner will need to inspect and analyze progress as it comes, as they will often be held responsible for each stage in a product’s development. One way they can do this is by making certain that every team member is on the same page when it comes to strategic vision.
Where Does a Product Owner Work?
22% of systems managers (again, a very similar role to that of a product owner) work in computers or related services. 11% work in information, 11% in finance or insurance. 9% are involved in company management and 7% work in manufacturing.
EDUCATION & BEST DEGREES
How Do I Become a Product Owner?
There are no specific requirements to become a product owner; the education requirement for these roles depends on the internal preferences of the company or organization that an applicant is working to join.
Step One: Earn a Bachelor's Degree
A bachelor’s degree in an IT field is the first step to becoming a product owner. This type of bachelor’s degree will give you critical skills in IT fundamentals that will be valuable as you prepare to help lead teams. Understanding terminology, applications, systems, and languages are all important in preparing you for a role as a product owner.
Step Two: Earn a Master’s Degree
A product owner is a senior role within a well-oiled machine, and as such needs to command the respect of the team if they hope to succeed. Taking an advanced program of studies, like a master’s degree in IT management, is one way to garner that respect. Students will learn how to ethically lead a team, make strategic decisions based on data, and equip themselves with the confidence to solve whatever IT problem might come their way.
Step Three: Gain Experience
Backed by a solid education, aspiring product owners are now ready to hit the job market. While technically possible, it’s rare to come straight out from university into a management position. Most IT managers have a few years of experience at the least. But those applying to work at smaller companies may be able to get away with less. So it’s ideal for product owners to use this time to gain much-needed experience in IT and stay on top of their continuous professional development.
Best Degrees for a Product Owner
Technology
Accelerated Information Technology Bachelor's and Master's Degree
Earn both your bachelor’s in IT and master’s in IT management at a faster...
Earn both your bachelor’s in IT and master’s in IT management at a faster pace with fewer courses.
- Time: Approximately 5 years.
- Tuition: $3,835 per 6-month term for the bachelor's degree; $4,040 per term for the master's portion.
- Courses: 42 total courses in this program.
Certifications included in this program at no additional cost:
- CompTIA A+
- CompTIA Network+
- CompTIA Security+
- CompTIA IT Operations Specialist
- CompTIA Secure Infrastructure Specialist
- Amazon AWS Cloud Practitioner
- ITIL®*^ Foundation Certification
- PMI CAPM
- LPI Linux Essentials
Skills for your résumé that you will learn in this program:
- Scripting and programming
- Networking and security
- Systems and services
- Data management
- Business of IT
This program allows students to earn their bachelor's degree in IT and move directly into a master's degree in IT management, cutting down on the total number of courses to complete.
Business
IT Management – B.S. Business Administration
IT managers are needed in nearly every organization:...
IT managers are needed in nearly every organization:
- Time: 61% of graduates finish within 19 months
- Tuition: $3,755 per 6-month term
- Courses: 40 total courses in this program
Skills for your résumé you will learn in this program include:
- Team Leadership
- Operations Management
- Communication
- Agile Project Management
- Analytical Techniques
- Information Technology
Key competencies of these online courses align with industry needs: management and leadership, networks and security, and information systems management.
Technology
Information Technology Management – M.S.
A degree for experienced IT professionals ready to lead....
A degree for experienced IT professionals ready to lead.
- Time: 60% of graduates finish within 18 months.
- Tuition: $4,040 per 6-month term.
- Courses: 10 total courses in this program.
Included in your program—at no extra cost—is the opportunity to earn the valuable PMI Certified Associate in Project Management (CAPM) certification.
- Technology operations and integration
- Sourcing and planning
- Risks and influence
- Solutions development
- Project management
Maximize the opportunities that your IT career path has afforded you—earn your master's and keep moving up.
Business
MBA Information Technology Management
Earn the online college degree that can move your career into IT upper...
Earn the online college degree that can move your career into IT upper management:
- Time: Graduates can finish in 12 months
- Tuition: $4,755 per 6-month term
- Courses: 11 total courses in this program
Sample careers and jobs this business degree will prepare you for:
- Management
- Project Management
- Leadership
- Innovation
- Communications
- Information Systems Security
Learn to navigate emergencies, execute strategies, and optimize systems with the competencies within this specialty MBA.
Business
Master of Business Administration
The flexible MBA program you need, focused on business management,...
The flexible MBA program you need, focused on business management, strategy, and leading teams:
- Time: Graduates can finish in 12 months
- Tuition: $4,755 per 6-month term
- Courses: 11 total courses in this program
Skills for your résumé you will learn in this program include:
- Leadership strategies
- Talent management
- Communication
- Data collection and interpretation
- Financial statements
Our competency-based model gives you an innovative learning experience you won't find anywhere else—and our MBA grads tell us they loved accelerating their program to see a faster ROI.
Business
Leadership Certificate – School of Business
Enhance your résumé and take a step in your educational journey with the...
Enhance your résumé and take a step in your educational journey with the help of a leadership certificate from the School of Business.
- Time: 4 months from start to finish.
- Cost: $2,250 for the certificate.
- Courses: 3 courses total in this program.
This program is for emerging leaders, however this program does not require a bachelor’s degree, and provides transferable credit towards a WGU degree program.
Whether you aspire to work for a Fortune 500 organization, a government agency, a non-profit organization, or a fast-paced start-up, this certificate can give you the keys to success in a variety of industries, including:
- Finance and Banking
- Healthcare
- Manufacturing
- IT
- Consulting
- Nonprofit
- Government
How Much Does a Product Owner Make?
$164,070
The U.S. Bureau of Labor (BLS) doesn’t have the exact information for a product owner, but it is similar to that of a computer and information systems manager. And by that metric, the median wage in May 2022 was $164,070. The lowest 10% of managers earned $90,430, while those at the higher end of the bracket pulled in $208,000. According to Glassdoor, which does provide more specific information, the average base pay for a product owner as of February 2022 was $108,402 per year.
What Is the Projected Job Growth?
11%
The BLS projects a healthy 11% growth during the 2020-2030 period which is much faster than the predicted growth rate for all other jobs. The demand for skilled product owners who can work effectively within the Scrum framework and ensure project outcomes for a team is set to rise.
SKILLS
What Skills Does a Product Owner Need?
A successful product owner will need a variety of skills to have a long and fruitful career. They are responsible for managing diverse personalities within the team and ensuring optimal project outcomes, so leadership and communication skills are at a premium.
- Excellent leadership skills
- Clear communication
- The ability to manage and delegate within a team
- Able to set and meet targets, both internal and external
- Understanding of both shareholder and customer sides of the project
- A problem-solving mindset
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