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Searching for New York product talent will be different in 2023. Hiring levels will not be t...
Searching for New York product talent will be different in 2023. Hiring levels will not be the same as they have been in recent years. The skill set is still new, so we saw unsustainable demand for product talent over the past two years. However, as the skill set becomes more established, we expect to see a calmer approach to recruiting product talent in 2023.
So, what should New York businesses be doing to hire and retain Product Managers in 2023?
Over the past three years, the product management skill set has seen astronomical growth as many businesses start truly investing in teams for the first time. This combined with the large amount of investment in FinTechs resulted in bloated teams and, as we saw at the end of 2022, large-scale layoffs. It has never been more important to strategize recruitment efforts in order to build successful, long-lasting product teams. Salaries and compensation packages should play a significant role in every New York business’ staffing plans.
There have been several updates to salaries that organizations need to be aware of...
We've put together our product salary guide to help organizations strategize effectively.
Our product management salary guide covers bonuses and permanent salary brackets for a wide range of product roles, from Product Owner all the way through to SVP of Product.
We're seeing new innovative products in the FinTech, payments, and open banking spaces. In an already crowded market, product hires are crucial to the success of these organizations, so how do you approach product management recruitment?
The product skill set is still very new, and many companies are still trying to understand how to get the most out of their team, if the skill set works for them and if it’s profitable.
We recommend that New York companies take time in Q1 to take stock of the previous year. Consider how their product performed in 2022, the impact that the product team had (or will have) and identify any future growth opportunities. We expect to see hiring pick up again later on in the year.
Looking for more advice about attracting, retaining and recruiting top marketing and product talent in 2023? Check out our full report, “How to Hire in New York: What marketing and recruitment will look like in 2023”.
The full report intends to assist New York organizations with their 2023 employment plans across every digital skill set, from digital marketing to social media & content, from demand generation marketing to product management. This report includes everything from the skill sets that employers should be prioritizing, to the compensation packages that New York employers should offer in order to attract and retain marketing and product talent.