Toronto's retail and manufacturing industries are among the strongest in the city. Product managers are responsible for conceiving, developing, and producing new products for retail companies and manufacturers. They identify target markets, oversee production design, maintain safety standards, and communicate with distributors. In Toronto, product managers might work for manufacturers of toys, consumer electronics, furnishings, and other popular items.
Toronto's food and beverage sector is also in a period of high growth. Product managers in this industry might design new food and beverage recipes, find new ways to package foods and beverages, and devise new ways to meet the retail and food service needs of supermarkets, restaurants, and other businesses.
Product Manager Job Market in Toronto
Job Bank Canada reports that product manager job growth will be moderate to good over the next several years. Toronto is one of the most forward-thinking cities in the world, and its diverse manufacturing and retail sectors will drive job growth in this profession. The economic climate has a high impact on this career, but Toronto has steadily recovered from the 2008 recession, which equals more job openings and more lucrative opportunities.
Specialty industries are also growing in Toronto. Although the auto industry has suffered major setbacks in recent months, metals, paper, chemicals, and equipment manufacturing remain stable. Product managers with niche experience or education, such as in chemistry or biology, might find more job prospects.
Product Manager Salaries in Toronto
According to Job Bank Canada, product managers in Toronto earn a median hourly wage of C$26, though they can command salaries as high as C$48 per hour. Several factors influence salary potential, including education, experience, industry, willingness to travel, and ancillary knowledge in competencies like marketing, advertising, and manufacturing. Finding a job in a lucrative sector or industry will improve overall wages and provide access to greater benefits and perqs.