In his article “Why Consultants Make Great Product Managers,” Ken Kanara, President and CEO of ECA Partners, discusses reasons for considering hiring a Management Consultant. He explains that a consultant’s ability to manage people and deadlines, think holistically, and prioritize, makes them exceptional Product Manager candidates. Ken has also written a detailed article titled, “Why Consultants Make Great Product Managers” where he explains that consultants’ ability to manage people and deadlines, think holistically, and prioritize, makes them exceptional Product Manager candidates.
Based on research conducted by our team of PhDs at ECA, we expect that hiring managers looking to grow their production teams are likely feeling the pressure of a candidate’s market. A variety of industries are leveraging new product technologies to make the customer experience seamless, develop new products, or enhance outdated products, which has drastically increased the demand for Product Manager talent.
The high-level data tells the story of the booming demand for Product Managers itself: as of March 2022, Glassdoor reported that there are nearly 18,000 open Product Manager positions. By contrast, the number of open positions for Machine Learning Engineers and Backend Engineers combined barely breaks the 13,000 mark.
Looking beyond the current need, the ever-growing Internet of Things (IoT) will likely continue to fuel the demand for Product Managers. In December 2020, Forbes explained that there are currently ~20 billion objects connected through the IoT, but by 2025, there will be 75 billion. At ECA Partners, because of the skills companies need in order to develop products compatible with the IoT, we are likely to see a similar 3-fold increase in the number of Product Managers within the same time frame.
For an even deeper dive into the career path of a Management Consultant turned product expert. Listen to Beyond Consulting‘s episode titled “From Consulting to Advanced Analytics,” where Mike Sterling, former Booz & Co/Strategy& consultant discusses his journey from strategy consulting to Product Management and Analytics.
Steven Haug, Ph.D. is a Project Manager of ECA Partners. He can be reached at [email protected].