Is getting into IIM to get into PM role justified?

What is the future scope of the PM job role...will it still be relevant after 10 years, Is going to IIMs spending close to 25 lakhs in this economy to get into a PM job role justified?? Context: I know many people will say you don't need IIM to break into PM, But considering I'm a 25 Male, from tier 3 college...currently working as a product designer with 8 lpa...so I think the only way to reach 25-30 lpa in hand by 28 is by joining IIMs

I am a frontend engineer in a startup with a CTC of 7. I am also from a tier 3 engineering college graduated last month. I want to become a product manager in the future. So my question is what things I should to achieve my goal. Will doing an MBA help me, if yes which is more better MBA from old IIM’s, ISB or global MBA ?

Sharing some reflections on this: 1. Product is not a function with a large hierarchy / multiple levels in the ladder. Managerial responsibility comes in very late in the product career and the spans are typically small (relative to other functions like engineering, sales, operations). This also means a steeper funnel to the top and only a handful VP Product roles in the industry. 2. Product is centered around technology and digital consumer trends, both of which are fast changing. This requires constant unlearning and relearning. But more critically, this also means that previous knowledge/experience hits a plateau on marginal value beyond a basic threshold (where you have developed some essential product semse and skills). 3. Product managers are also much higher-paid vs other functional peers, at comparable years of experience. This means that a PM gets to a very high salary (say, 1+ crore) by the age of 40 (15-20y into their career). Tech functions in non-tech companies (like FMCG, banking) cannot offer that kind of pay, meaning salary growth beyond a point is limited to tech-first companies / limiting addressable market for lateral moves. All of these considererd, how should PMs think about the longevity of their careers? Unlike traditional roles, this does not seem like a "retire at 60" job. What would be the realistic age one should plan for, at which career growth and salary growth will stagnate? What are ways in which a 80%ile PM can extend their career (eg: also taking up engineering management or P&L responsibility or growth function etc., to increase scope)? PS: this post is not for the top 5-10% PMs. They will always find roles at VP level etc, this is for the 50-90%ile bucket of PM talent.

Note - I am a product manager too 4 out of 5 product managers will act all high and mighty of themselves, bragging their way as if they run everything going on in the company, flaunting their business degrees and being utterly disrespectful towards their team( dev design qa name it), Recently started going to office so the attitude I am seeing is very transparent and more visible (more with the higher experience folks) It makes me wanna leave this hyper inflated role, thinking of I will end up like them scares me, and you have to do is speak out jargons in meetings day in day out and have a English accent of Shashi Tharoor. Recently my manager told that this is a role where you have to very representable or very visible and act in floor as if you are the busiest person on earth and I seriously some PMs in company doing that, they walk so fast in floor as if they will fall off or would be better to have 4 legs.

Met a PM from IIT / IIM with 4 years of experience. He is working at a well know soonicorn at a salary of 17 lakhs per year . He used to draw 30 lakhs per year in his last role before we was laid off . Interesting Times ahead

What should my strategy be if I want to 4x my current salary (let's say go from 7LPA to approx 30LPA) in the next 4-5 years? Is this a realistic expectation to have moving forward? With regards to my work ex; I started off my career with sales, worked for 7 months, left the job, upskilled myself a little bit and landed a product manager role. So in total I have about a year of experience (7 months in sales and rest out it as a pm). Also I have a engineerring background and have also completed my MBA, both of them from tier 2 colleges.

Lately I am seeing a lot more people talk about the fact that being a PM is a sub optimal strategy for an eventful career in Tech. However, let me remind you that people in tech tend to be predominantly engineers and they like the people skills needed to be good at making Products for actual humans. I have personally witnessed PMs be great at talking to various teams in Engg, Design, Analystics and Operations. They are so good at talking that they forget that they actually need to work and not just speak all the time. I feel that PMs are all talk but now work and just chill around the foosball table all day. Once in a while they will go and flirt with that new chick that joined their team. In case the joke wasn't clear, "PMs are the cesspool of Tech". 😂