- Company: Elastic
- Location: Canada
- Job type: Full-time
- Salary: CAD 154,000 – 243,600
About the role
Elastic is seeking a Principal Product Manager to lead the commercial strategy for Security on Elastic Cloud Serverless. You will own the packaging, pricing, and sales model for security solutions, ensuring that the platform remains profitable as customers shift to consumption-based models. This position sits at the intersection of Product, Finance, Engineering, and Sales, requiring you to explain complex pricing structures to CISOs, CFOs, and field sellers.
Responsibilities
- Redesign pricing models: Define security tiers, feature entitlements, and usage meters, and present recommendations to senior executives.
- Manage margins: Collaborate with the Platform team and Finance to model costs for ingest, search, retention, and AI features before launch.
- Drive growth: Accountable for new workloads, migrations, expansion, and retention, separating recurring revenue from one-time proof-of-concept income.
- Simplify customer experience: Reduce packaging complexity and improve sizing and pricing estimators used by customers and Solutions Architects.
- Lead product execution: Write PRDs and PRFAQs, and coordinate with Security engineering, Billing, and Cloud Operations to ship pricing decisions.
- Market analysis: Track competitor pricing strategies and engage with customers to understand their willingness to pay for different security capabilities.
Requirements
- 7 to 10 years of product management experience, with significant time spent on security or cloud data products.
- Proven experience leading pricing and packaging for SaaS or cloud products end-to-end, including margin modeling and executive approval.
- Required experience with usage-based or consumption pricing models and simplifying complex pricing structures.
- Strong understanding of COGS, gross margin, and ARR modeling, with the ability to build forecasts with Finance.
- Knowledge of multi-tenant cloud architecture and how design choices impact cost.
- Experience presenting pricing to CISOs and procurement teams, and supporting deals as a product expert.
- Ability to write clear PRDs, pricing proposals, and executive summaries.
- Experience with SIEM, XDR, endpoint, or cloud security is a strong plus.
Pay and benefits
- Base Salary: CAD 154,000 – 243,600. This role does not include variable compensation.
- Stock Program: Eligible to participate in Elastic’s stock program.
- RRSP Match: Company-matched Registered Retirement Savings Plan with dollar-for-dollar matching up to 6% of eligible earnings.
- Health Coverage: Health coverage for you and your family in many locations.
- Work-Life Balance: Flexible locations and schedules, generous vacation days, and a minimum of 16 weeks of parental leave.
- Volunteering: Up to 40 hours per year for volunteer projects and a match of up to $2,000 for financial donations.
How to apply
Apply directly on Elastic’s own careers website. Omadaily never charges job seekers.
