According to a news release, the new program was established to meet the growing number of students looking to pursue careers in digital product management, as well as employers searching for qualified applicants to fill those roles. The announcement said students will begin the program working with a product team at one of MIT Sloan’s partner companies to learn about the responsibilities of tech product managers, such as overseeing how a product is designed, engineered, marketed and launched.
Students will then take classes to complete projects, like building a working URL shortener on Google Cloud, to learn about the challenges involved with creating software products, the announcement said.
“The field of product management has changed dramatically, largely because of the need to deliver value in software,” MIT Sloan professor Vivek Farias said in a public statement. “This is not just an engineering task, and often the types of problems solved with software can’t be defined right away. It’s an art to be able to manage a complex, iterative process and learn from the market—while not spending too much time or money. Good product managers are experts at that art.”
According to research from McKinsey & Company cited in MIT’s news release, the role of product manager has continued to evolve, with “an increased focus on understanding the customer and using machine-learning tools designed to augment decision making.” The release also noted that nearly 75 percent of global tech leaders surveyed by the Institute of Electrical and Electronics Engineers consider filling open positions that require skills in technology, business and leadership to be challenging.
Noting employers’ demands, the institute said the number of MIT Sloan graduates seeking careers in product management more than doubled between 2012 and 2020, and MIT Sloan’s Digital Product Management Lab (PM-Lab) experienced a 7.5x increase in student applications between 2018 and 2021.
“We are seeing tremendous growth in careers in product management,” Mark Newhall, director of employer relations and recruiting in MIT Sloan’s Career Development Office, said in a public statement. “Employers are seeking product managers who have a blend of strong tactical execution and leadership skills. This new certificate will enable students to differentiate themselves as having a serious interest in pursuing a career in product management.”
