Product management is still a relatively new skill set, but increasingly more organizations ...
Product management is still a relatively new skill set, but increasingly more organizations are looking to invest in the profession and pursue a product-led business model. This has resulted in the skill set becoming highly sought-after across a variety of industries, especially within the fintech industry.
As the world becomes increasingly digital, fintech has emerged as a rapidly growing industry. With fintech products becoming an intrinsic part of our everyday lives, there has been a rapid increase in the demand for Product Managers in this space.
With so much demand, there has never been a better time to get into product management. In this blog post, we’ll discuss how you can do it for yourself, exploring four typical routes to becoming a Product Manager.
Product Managers are innovators, responsible for the end-to-end development of digital products. They work collaboratively across the business, with sales, marketing, design and engineering in order to deliver products that your customers are looking for.
The primary goal of a Product Manager is to take ownership of the consumer and understand how each product will best benefit the target audience. By investing in product teams, organizations develop a better understanding of their customers. By creating a product-led culture, businesses ensure that everything they do is influenced by consumer demands.
There are many ways to get into product management. Here are just four of the most popular careers that can lead you into a Product Manager job in a fintech organization.
1. Engineering/development
Engineers have a deep understanding of the technical aspects of product development, which can be invaluable in fintech product management. If you have experience in engineering, you may want to consider leveraging that experience to transition into product management.
In a product management job, you will need to work closely with the developers to ensure that products meet technical requirements and are feasible to develop. As a result, UX/UI Specialists also often make strong digital product people due to their front-end knowledge. Back-end and more technical engineering professionals are usually more comfortable working on complex issues requiring vast technical capability. Both are excellent routes into a product management job.
2. Sales
Salespeople often have a deep understanding of customer needs and pain points – a key skill set in any product management job. As a Product Manager, you will be responsible for understanding customer needs, defining product requirements, and working with the developers to create products that meet those requirements. Knowing what the customer wants to buy and their pain points is essential knowledge to building profitable products.
If you have experience in sales, you might want to consider leveraging that experience to transition into fintech product management.
3. Marketing
Marketing professionals also have relevant skills for fintech product management. If you’re an experienced marketer, you will understand how to craft messaging that resonates with customers. In today’s digital world, it’s also likely that you will understand how to best analyze market trends.
In a product management job, you will need to define the product's positioning, messaging, and branding to ensure that it resonates with customers and set the product apart from competitors. Product Managers know how to find market fit. As a result, you’ll be able to transfer your marketing skill set into a Product Manager job.
4. MBA
An MBA program can help you gain relevant business skills, build your network, and gain industry experience that can help you secure your first job in fintech product management. The strategic and critical thinking that is developed in an MBA program is a sought-after skill set for hiring managers searching for Product Managers.
If you’re thinking about taking this route into product management, it's essential to have a passion for fintech and to be willing to learn and grow within the industry. This is important as hiring managers will be asking interview questions that determine your interest in the fintech industry.
Regardless of the route you take into product management, it's essential to have a deep understanding of the fintech industry, technical skills, strong communication skills, and a passion for developing the fintech world. By leveraging your existing skills and building on them, you can create a successful career in fintech product management.
If you’re looking to get into product management, be sure to get in touch with our expert employment consultants for advice tailored to your goals and career. Or, if you’re looking to take the next step in your product management career, check out our latest product management jobs.
