Salary Snapshot - Product Leadership

Let’s Talk Money!

As a recruitment partner to many top Canadian tech companies, we’ve talked with hundreds of high-growth start-up and scale-up leaders about their experiences, aspirations, motivations, and of course…their compensation!

When setting the salary range for a new role, clients always ask, “What are you seeing in the market right now for a role like this?” Great question - and we have answers. So let's pull back the curtains and share some salary insights to help you create a competitive compensation package for your next big hire. Or, if you’re on the hunt for a new role, we hope you’ll find this data useful in the negotiation process.

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TL;DR:

• Strong compensation growth: Non-exec product salaries are up 17.6% since 2021; exec comp has grown 25%.
• Equity on the rise: 62% of non-exec PMs now receive equity as part of their comp (up from 28%); 79% of product execs report equity (up from 55%).
• Bonus potential scales quickly: Bonus targets range from 6% for ICs to 27% for VP/C-level roles.
• Hybrid remains king: 52% of product leaders are hybrid, with 45% remote and only 3% fully office-based.

Digging deeper:

The structure of compensation plans for Product leaders varies by company stage, size, and business model. Most packages are base-heavy, with variable (bonus) and equity components layered in, especially at senior and executive levels.

At the executive level:

• Variable (bonus) components for product leaders typically range from 15%–30% of total cash compensation, climbing significantly at the VP and C-level.
• In early-stage companies, equity often offsets lower cash compensation, offering meaningful upside tied to growth milestones or exit events.
• In later-stage or public companies, larger comp packages are increasingly bolstered by RSUs (Restricted Stock Units), which offer more immediate and tangible value than traditional options.
  

For clarity, all compensation figures shown in this snapshot are presented as total on-target earnings (OTE), which combine base salary and expected variable/bonus components to reflect the full earning potential of these roles.

Product leadership compensation has seen meaningful growth since 2021, highlighting a broader shift in market priorities. While the product talent market has been more measured than the boom of 2021–2022, companies are now doubling down on efficient, scalable product leadership - especially those who excel at navigating tight budgets and complex, cross-functional environments.

Strong product leaders who can sharpen customer focus, align closely with engineering, and drive operational rigour are in high demand!

Here’s where compensation stands now:

• Product Managers saw average total compensation rise ~18% since 2021, now averaging $174K OTE, with a median of $157K and a 75th percentile of $203K.
• Head & Director of Product roles rose ~20%, now averaging $245K OTE, with a median of $250K and a 75th percentile of $290K.
• VP & Chief Product Officers experienced ~25% comp growth, now averaging $334K OTE, with a median of $305K and a 75th percentile of $346K.

Compensation levels at the most senior levels have a wide variability, with our data showing a span from ~$280K to $350K. We know that this is largely influenced by company size, growth stage, and the nature of the role. For example, a leader of a large team at a public company will likely be at the upper end of the range, while their peer at a seed-stage start-up likely has a lower salary that may be offset by equity. Every company has a unique compensation philosophy that is also reflected in the data. The decision to pay at or above the market rate is influenced by numerous factors and is a strategic business decision.

We’re also seeing some key trends in how product leadership roles are evolving:

More blended responsibilities: Heads of Product are increasingly balancing strategic vision with operational execution, and in some cases, taking on revenue accountability as part of the broader convergence between Product and Growth. 

Heightened accountability for business outcomes: Product leaders are being measured more rigorously on ROI - impact on customer retention, engagement, and overall profitability is becoming a bigger part of their performance reviews and compensation models.

Stronger cross-functional collaboration: There's rising demand for product leaders who act as connectors - closely aligning product with engineering, UX, and even GTM teams to ensure seamless execution and faster time to value.

We’ve also seen a notable rise in equity participation, with 62% of non-executive PMs now reporting equity as part of their package (up from 28% in 2021) and 79% of product executives reporting equity (up from 55% in 2021).

Why might that be? The sharp increase in equity participation since 2021 reflects a few key shifts:

• Tighter cash flow & extended runways: As capital became harder to raise post-2022, many companies, especially early and mid-stage, opted to offer more equity to attract and retain talent without pushing cash comp too high.
• A push for deeper alignment: Boards and investors are increasingly pushing leadership teams to tie compensation to long-term company performance, making equity a bigger part of the mix - especially for roles critical to product success.
• Market expectations: After the remote work boom broadened talent pools, candidates started expecting ownership opportunities as standard, even at the IC level. Companies adjusted quickly to stay competitive.
• Retention strategy: With market uncertainty, equity has become a tool to encourage longer tenures and align incentives over multiple years.

Bonus Insights!

Remote and Hybrid Work Remains the Norm

When it comes to how product leaders work, flexibility continues to be a top priority.

• 52% of respondents are working in hybrid models
• 45% are fully remote
• Just 3% are in the office full time

Hybrid setups (typically 2–3 days/week in-office) remain especially common across product leadership roles, offering a balance between in-person collaboration and focused, flexible work. While we’re seeing a small minority of companies nudging toward more in-office time (often companies with a physical or hardware product), especially at the exec level, remote and hybrid arrangements remain the clear preference and a key factor in attracting top talent.

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What’s behind the data?

Our snapshots provide valuable and current insights, derived from a select sample of individuals with verified and noteworthy experience in successful Canadian companies. This data, gathered from our recent searches, offers a more focused and relevant perspective than standard salary surveys.

This Salary Snapshot represents 111 data points. Each source is an individual who we deem a promising candidate for a role within a high-growth tech company. Most are gainfully employed and many were recommended as exceptionally talented. As a result, our salary numbers might be skewed towards the top of the range.

We elected not to show compensation figures related to equity or options. Though this was a significant aspect of the comp package for many execs, it’s often tough to put an annual dollar value on equity.

For privacy reasons, we will not disclose any specific information that could reveal the identity of an individual or their employer.

Sharing is caring!

In the dynamic landscape of employment, salary data transparency acts as a transformative force, benefiting both employers and job seekers alike. For employers, it provides a strategic advantage by aligning compensation packages with industry benchmarks, fostering equity, and enhancing recruitment appeal. For job seekers, being armed with this knowledge can help you navigate your career more strategically, negotiate effectively, and make informed decisions, contributing to a more open, fair, and empowered job market.

We believe that our Salary Snapshots are an effective delivery method for this data with our 4 T’s model:

Targeted: Specializing in the tech and innovation industry, our data reflects the compensation landscape of tech companies in Canada, making it directly relevant to your world.

Timely: Unlike traditional reports with multi-year lags, our 2025 salary data is up-to-date, providing you with the latest insights.

Trustworthy: Unlike free crowdsourced data, our information comes from one-on-one conversations with candidates actively involved in searches for our clients, ensuring reliability and accuracy. 

Trim: We're agile and focused, offering a concise snapshot of current compensation trends, and avoiding lengthy reports while retaining all the essential contextual information and analysis.

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