Average Product Owner Salary in United Kingdom for 2024

In this article, we will look at the average Product Owner salary for 2024 in United Kingdom and how that compares to other countries and professions. We'll also look at interesting salary data points like median salary, 25th and 75th percentile salaries, salary amounts based on experience, bonus ranges and more!

The data in this article has been compiled using official government salary data, salary surveys, and other sources such as job postings which contain salary information.

All salary information is in the local currency, which is the British pound. To keep things simple, we are using the GBP currency code instead of the currency symbol £.

How Much Does a Product Owner Make in United Kingdom?

A Product Owner working in United Kingdom will typically earn around 77,400 GBP per year, and this can range from the lowest average salary of about 35,300 GBP to the highest average salary of 119,700 GBP.

Average Annual Salary
77,400 GBP
Average Monthly Salary
6,450 GBP

Lowest Annual Salary
35,300 GBP
Lowest Monthly Salary
2,941 GBP

Highest Annual Salary
119,700 GBP
Highest Monthly Salary
9,975 GBP

These are average salaries for a Product Owner in United Kingdom and include benefits such as housing and transport. It's also possible for a Product Owner to earn more or less than the average salaries shown above.

Product Owner salaries will vary a lot based on your experience, location, skills, and gender. Keep reading below to research more data on each of these areas.

Distribution of Product Owner Salaries in United Kingdom

So we've looked at the average salaries a Product Owner will earn in United Kingdom. The next interesting data point is the distribution of salaries.

Salary ranges

We already know that a Product Owner can earn between 35,300 GBP and 119,700 GBP on average in United Kingdom. This is known as the range in statistics.

The difference between the maximum and minimum values is a good indicator of variability in salaries, and can be used by employers to figure out how much they can expect to pay, and for employees to know how much they can earn.

Median salary

The median salary for a Product Owner in United Kingdom is 81,600 GBP. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 81,600 GBP, and 50% of the population earn more than 81,600 GBP.

If you are earning more than the median salary, that's a good indicator that you are being paid well.

If you're not earning more than the median salary, your objective should be to increase your earnings to be at least as high as the median salary (which you can do by asking for a pay rise, looking for a better paying job, etc).

Percentiles

Percentiles are similar to the median salary, but instead of looking at the middle value, they look at the values in the top and bottom half of the distribution.

For the average Product Owner salary in United Kingdom, 25% of the population are earning less than 50,600 GBP while 75% of the population earn more than 50,600 GBP.

75% of the population earn less than 109,700 GBP, and 25% of the population earn more than 109,700 GBP.

Like the median salary, the 25th and 75th percentile salaries can be used to determine which quartile you fall into so that you know whether you are being paid well enough compared to others in your profession and location.

The difference between a median and an average salary

The median and average salary are both indicators you can use to see if you are being paid fairly based on the overall population.

  • If your salary is higher than the average and the median salary, you are earning well compared to others.
  • If your salary is lower than the average and the median salary, it could indicate you are not being paid well enough.
  • If you are somewhere in between then it's tricky to determine if you are being paid well enough and you might need to research more closely.

Product Owner Salary by Experience Level in United Kingdom

The most important factor in determining your salary after the specific profession is the number of years experience you have. It stands to reason that more years of experience will result in a higher wage.

We have researched the average product owner salary based on years of experience to give you an idea of how the average changes once you've worked for a certain amount of time.

  • 0 - 2 Years Experience. A Product Owner in United Kingdom that has less than two years of experience can expect to earn somewhere in the region of 40,000 GBP.
  • 2 - 5 Years Experience. With two to five years of experience the average Product Owner salary would increase to 51,300 GBP.
  • 5 - 10 Years Experience. From five to ten years of experience as a Product Owner, the average salary would be 79,600 GBP.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 94,200 GBP.
  • 15 - 20 Years Experience. A Product Owner with 15 to 20 years of experience can earn an average of 105,200 GBP.
  • 20+ Years Experience. For a Product Owner with more than 20 years, the expected average salary increases to 112,700 GBP.

Average Salary by Experience Chart

0-2 Years
40,000 GBP
2-5 Years +34%
51,300 GBP
5-10 Years +48%
79,600 GBP
10-15 Years +22%
94,200 GBP
15-20 Years +9%
105,200 GBP
20+ Years +8%
112,700 GBP

Product Owner Salary by Education Level in United Kingdom

As well as experience in a job, your education plays a big role in how much you can earn. A lot of higher paying positions require a high level of education, but how much can a degree increase your salary?

In our research we have compared the salaries of employees in the same job and career level with different levels of education to see how much more you can earn at each education level.

The salary you can earn based on your education is very specific to both your location and the career path you choose.

In our research, we looked at the average salary for a Product Owner in United Kingdom based on the education level of the employees in order to find out whether a better education level would increase your salary.

  • High School. A Product Owner in United Kingdom with a high school education can earn an average salary of 46,200 GBP.

  • Certificate or Diploma. A Product Owner in United Kingdom with a certificate or diploma education can earn an average salary of 71,000 GBP.

  • Bachelor's Degree. A Product Owner in United Kingdom with a bachelor's degree education can earn an average salary of 118,900 GBP.

Average Salary by Education Chart

High School
46,200 GBP
Certificate or Diploma +57%
71,000 GBP
Bachelor's Degree +68%
118,900 GBP

How Much is a Master's Degree or MBA Program?

The approximate cost of a master's degree or post-graduate program like an MBA in United Kingdom is around 29,600 to 88,700 GBP and takes two years to complete.

As you can see above, there are financial benefits from reaching master's degree level, but don't expect to see much of a salary increase until you have completed the degree.

It's common for people to pursue an MBA or other post-graduate program in order to switch to a a job that pays more. On average, you can expect to earn around 10% more when switching to a new company.

Whether you decide to pursue a master's degree depends on many factors. If you are able to afford it, the numbers suggest that the return on investment is worth it and you could recover the costs in a few years from the salary increase you would receive.

Product Owner Salary Compared by Gender

In the modern age, we know that there should never be a pay gap between men and women. Unfortunately, in many professions, there is still a significant difference between the salaries earned by men when compared to the salary of women in the same job.

In United Kingdom, a male product owner will earn an average of 78,500 GBP, while a female product owner will earn around 73,100 GBP.

This means that a male product owner earns approximately 7% more than a female product owner for performing the same job.

Average Salary by Gender Chart in United Kingdom

Male
78,500 GBP
Female -7%
73,100 GBP

Product Owner Average Pay Raise in United Kingdom

In many countries, an annual pay raise is often given to employees to reward their service with a salary increase.

From our research, we can see that the average pay raise for a Product Owner in United Kingdom is around 11% every 16 months.

The national average pay raise across all professions and industries in United Kingdom is around 9% every 15 months.

In this case, we can see that the number of months between the average pay raise is higher than the typical 12 months.

To make the data more meaningful, we can calculate what the approximate annual pay raise would be using a simple formula:

Annual Increase = ( Increase Rate ÷ Months ) × 12

So for this example, it would be:

Annual Increase = ( 11 ÷ 16 ) × 12  = 8%

What this means is that a Product Owner in United Kingdom can expect to receive an average pay raise of around 8% every 12 months.

Annual Pay Raise by Industry in United Kingdom for 2024

In the chart below, you can see the average annual pay raise percentages for each of the major industries in United Kingdom.

You will see that companies in bigger and more lucrative industries tend to have the higher annual pay raises.

Banking
3%
Energy
6%
Information Technology
9%
Healthcare
3%
Travel
6%
Construction
9%
Education
3%

Product Owner Bonus and Incentive Rates in United Kingdom

Another part of your overall compensation in a job is how much bonus you receive. Some job roles will be more likely to pay a bonus than others and also more likely to have higher bonus rates.

Generally speaking, jobs that are more involved with direct revenue generation will receive higher bonuses based on the performance towards revenue goals.

A Product Owner is a moderate bonus based job, with 61% of employees reporting at least one bonus in the last 12 months.

39% reported that they had not received any bonuses in the previous 12 months.

For the employees that did receive a bonus in the previous 12 months, the reported bonuses ranged from 2% to 7%.

Received Bonus
61%
No Bonus
39%

What are the Types of Bonus?

There are a number of difference types of bonus you can receive in a job. Including:

  • Individual performance bonus - This is a bonus that is awarded to an individual employee for general performance in the job. It's the most common type of bonus.
  • Company performance bonus - This is a bonus that is awarded to a company employees to share profit with the staff.
  • Goal based bonus - This is a bonus that is awarded to an individual employee (or a team) for achieving specific goals, objectives, or milestones.
  • Holiday bonus - This type of bonus is usually paid around the holidays, often the end of the year, and is a token of appreciation for the hard work throughout the year.

Government vs Private Sector Salaries

Another commonly asked question is whether you get paid a higher salary working in the public (government) sector or the private sector.

Public sector employees in United Kingdom earn approximately 7% more than private sector employees in the same role.

Public Sector
72,700 GBP
Private Sector -7%
68,200 GBP

Salaries for Jobs Similar to a Product Owner

In the table below, we have salary information for jobs that are similar to a Product Owner in United Kingdom.

Job Title Category Salary
Approval Team Manager Quality Control and Compliance 84,600 GBP
Assistant Quality Manager Quality Control and Compliance 72,300 GBP
Compliance Officer Quality Control and Compliance 45,600 GBP
Document Analyst Quality Control and Compliance 36,500 GBP
Document Control Officer Quality Control and Compliance 33,800 GBP
Document Control Specialist Quality Control and Compliance 40,600 GBP
HACCP Coordinator Quality Control and Compliance 39,000 GBP
Inspection Supervisor Quality Control and Compliance 65,700 GBP
Internal Compliance Officer Quality Control and Compliance 45,600 GBP
Product Complaints Associate Quality Control and Compliance 49,000 GBP
Product Quality Leader Quality Control and Compliance 84,600 GBP
QMS Coordinator Quality Control and Compliance 50,800 GBP
Quality and Safety Site Leader Quality Control and Compliance 87,200 GBP
Quality Assurance Administrator Quality Control and Compliance 69,200 GBP
Quality Assurance Analyst Quality Control and Compliance 81,000 GBP
Quality Assurance Associate Quality Control and Compliance 49,400 GBP
Quality Assurance Auditor Quality Control and Compliance 72,400 GBP
Quality Assurance Document Control Quality Control and Compliance 33,600 GBP
Quality Assurance Engineer Quality Control and Compliance 45,000 GBP
Quality Assurance Executive Quality Control and Compliance 111,700 GBP
Quality Assurance Inspector Quality Control and Compliance 70,800 GBP
Quality Assurance Manager Quality Control and Compliance 114,300 GBP
Quality Assurance Specialist Quality Control and Compliance 71,200 GBP
Quality Assurance Supervisor Quality Control and Compliance 80,500 GBP
Quality Assurance Technician Quality Control and Compliance 38,000 GBP
Quality Assurance Tester Quality Control and Compliance 43,400 GBP
Quality Control Analyst Quality Control and Compliance 73,800 GBP
Quality Control and Compliance Officer Quality Control and Compliance 45,000 GBP
Quality Control and Quality Assurance Officer Quality Control and Compliance 52,300 GBP
Quality Control Auditor Quality Control and Compliance 67,500 GBP
Quality Control Chemist Quality Control and Compliance 83,200 GBP
Quality Control Coordinator Quality Control and Compliance 49,200 GBP
Quality Control Engineer Quality Control and Compliance 43,800 GBP
Quality Control Executive Quality Control and Compliance 105,200 GBP
Quality Control Manager Quality Control and Compliance 114,600 GBP
Quality Control Supervisor Quality Control and Compliance 83,000 GBP
Quality Control Technician Quality Control and Compliance 43,200 GBP
Quality Data Analyst Quality Control and Compliance 67,000 GBP
Quality Director Quality Control and Compliance 116,400 GBP
Quality Engineer Quality Control and Compliance 44,300 GBP
Quality Executive Quality Control and Compliance 83,200 GBP
Quality Improvement Coordinator Quality Control and Compliance 49,800 GBP
Quality Management Officer Quality Control and Compliance 43,800 GBP
Quality Manager Quality Control and Compliance 114,900 GBP
Quality Surveyor Quality Control and Compliance 70,800 GBP
Quality Trainer Quality Control and Compliance 81,200 GBP
Six Sigma Black Belt Quality Control and Compliance 87,800 GBP

Salary Comparison by City

If you want to compare salaries with different cities in United Kingdom, you can use the links below to explore the data for each specific city we have researched.

City Average Salary
Aberdeen 79,600 GBP
Abingdon 72,700 GBP
Armagh 74,200 GBP
Bangor 72,400 GBP
Belfast 87,400 GBP
Birmingham 88,600 GBP
Bradford 89,900 GBP
Brighton 86,100 GBP
Bristol 86,800 GBP
Cambridge 74,000 GBP
Canterbury 71,900 GBP
Cardiff 87,200 GBP
Chester 73,500 GBP
Coventry 83,000 GBP
Derby 80,200 GBP
Derry 77,000 GBP
Dundee 78,200 GBP
Durham 73,800 GBP
Edinburgh 82,200 GBP
Exeter 74,900 GBP
Glasgow 92,100 GBP
Gloucester 71,700 GBP
Hartlepool 76,900 GBP
Inverness 69,200 GBP
Kingston upon Hull 87,300 GBP
Kirkwall 66,400 GBP
Leeds 88,600 GBP
Leicester 80,500 GBP
Lincoln 79,600 GBP
Lisburn 72,400 GBP
Liverpool 88,000 GBP
London 88,300 GBP
Manchester 90,900 GBP
Newcastle 85,400 GBP
Newport 77,000 GBP
Newry 77,100 GBP
Norwich 75,400 GBP
Nottingham 79,500 GBP
Oxford 79,600 GBP
Peterborough 80,700 GBP
Plymouth 78,700 GBP
Poole 81,000 GBP
Portsmouth 81,400 GBP
Ripon 68,400 GBP
Salisbury 69,200 GBP
Sheffield 92,000 GBP
Somerset 86,100 GBP
Southampton 83,700 GBP
St Davids 68,500 GBP
Stirling 78,200 GBP
Stromness 68,500 GBP
Strontian 66,900 GBP
Swansea 83,700 GBP
Truro 69,800 GBP
Wakefield 70,900 GBP
Wells 68,500 GBP
Winchester 69,800 GBP
Wolverhampton 78,500 GBP
York 82,200 GBP

Salary Comparison by State

The table below includes links to the average salary for each state in United Kingdom.

City Average Salary
England 152,700 GBP
Northern Ireland 68,300 GBP
Scotland 111,700 GBP
Wales 73,100 GBP

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