Stakeholder-driven development has become significant in the software industry. As a result, product managers have taken on a crucial role in IT projects by considering the demands of stakeholders, business objectives and knowing available technological solutions. The theoretical section of this article provides an overview of the evolution and characteristics of the product manager role. This paper empirically explored the various expectations towards product managers through the example of the Hungarian software industry by the content analysis of job advertisements (n=212) from LinkedIn. The identified patterns show that the product manager role differs depending on the size of the company. The results show that as the size of a company increases, leadership and active listening skills become increasingly important. On the other hand, micro- and small enterprises demonstrate the highest level of responsibility regarding cooperation. The findings of this article can offer valuable guidance for future product managers.