CTC Check
I'm a Product Manager at a SaaS firm drawing in a CTC of about 18-20 LPA. I'm 22 years old. Is this the standard in the industry?
CaptainLevi
Stealth
a year ago
You're overpaid.
imanageproducts
Stealth
a year ago
I wouldn't say that :/
Kuchacharakhlo
Stealth
a year ago
@CaptainLevi this is a overpaid and overhyped role 😂
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imanageproducts
Stealth
a year ago
A lot of people are commenting that I'm overpaid. Given my skill set, i don't think so. Thank you.
Smurfminion
Stealth
a year ago
Fellow PM here.
What's your take home salary and benefits/bonus structure?
Does the 22 TC include all of that?
What's the breakdown likeM
DenseRamie57
Stealth
a year ago
Buddy, you’re not overpaid. I’m a 24 yr old PM with a base of 35 LPA and 30 lakhs ESOPs.
Even in this recession market, I still get the offers of 42-45 LPA as base pay. It all comes down to your skill set and what you bring on the table.
Keep rocking buddy and don’t self-doubt on yourself.
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SleepyHeadF
Stealth
a year ago
Overpaid. 22 year old product manager lmao.
Maybe you deserve 6lpa at best. Product managers are useless roles when you don't have any tech/business/ops experience to begin with.
I never understood how does manager designation even applies to freshers who are just out of college busy learning to manage themselves... How will they manage the product?
KeyCurrant4
Stealth
a year ago
@Motamama I will tell you what happened.Bear with me,it will be a lengthy explanation.
Context: So in Late 2020-mid 2022,liquidity was at all time high due to low fed rates.Credit was very cheaply available and more often than not this is routed to the Emerging countries like ours.In short,people were raising fund literally with a degree and a deck(Pre-seed).
Now since money was not a concern,all founders cared about valuation and how to raise funds for next round.
Don’t believe me take a look at Khatabook and Open financial technologies funding.
They literally raised 100 million dollars by creating a bookkeeping app from the likes of Google and VISA.
Long story short,founder prioritised growth over PMF.They just wanted to launch as many products in a pursuit of clicking their vanity metrics target(No of downloads,merchants onboardedetc.)
Now to achieve this they started hiring PMs and developers left right and centre.
Some of the startups went overboard and paid 20-25+ to even APMs(remember credit was very cheap) straight out of college.
And what was their selection criteria:There were three set of questions which these aspirants literally mugged up like we used to do for competitive exams:
a)Flipkart cart additions are down by 10%.How will you resolve it?
b) Design Netflix for kids
c)Improve WhatsApp/Instagram
Now there is a specific template which these aspirants mugged up and lots of communities actually have a paid courses where they help them in mugging up these concepts.
So cheap credit,mugged up frameworks (btw doesn’t apply to Indian customers)supplemented with beautified decks saw a deluge of Fresher APMs in late 2020-mid 2022 and these people are still riding on that wave.
Hope this explains
Since you are 22 years old, I would assume your are a fresh graduate without any post graduation degree.
If you were working for a large SaaS organization(except FAANG), they would hire you for Associate Product Manager role for around same salary(or slightly lesser) but they would have preferred MBA, so you would be 24-25 years old in that case.
So, my sense is you are currently overpaid
KeyCurrant4
Stealth
a year ago
This guy is for sure overpaid and even he knows this.
He probably just came to show off here,entire post reeks condescension
Even i thought the same. Created a post to just showoff. When grapevine introduces private chat, this platform will turn into a new type of tinder.
I would say 12-15 CTC would be ideal. 20 is over. unless it depends on the breakup. If 10-12L is base, it’s okay.
imanageproducts
Stealth
a year ago
That is how it is.
AnonUser
Stealth
a year ago
That high your experience level assuming 2 years experience
imanageproducts
Stealth
a year ago
A year of experience. Might seem high but the base doesn't live up to the hype 🥲 ESOP components and Non-Cash Benefits take a good chunk.
I think if a company is paying someone X amount then offcourse they see a value in the guy.... And we are no one to judge if someone is overpaid,if the organisation is cool with it......
You are smart and you are paid well ... Stay happy stay blessed and good luck 🤞
Kuchacharakhlo
Stealth
a year ago
WTF he only asked to give opinion
Lelo 😂😂💀
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Pirate_metrics
Stealth
a year ago
What's your base and is this a Series A startup?
imanageproducts
Stealth
a year ago
Around 11 and no. This firm has not picked up funding ever. Is profitable since year 1. Pretty healthy financials. All euro/US clientele
Msd123
Stealth
a year ago
If it's profitable in the starting, better to stay long term over there
What does a Product Manager do? Never heard of someone this young be one.
imanageproducts
Stealth
a year ago
@hilalepakistan https://en.m.wikipedia.org/wiki/Product_manager
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KeyCurrant4
Stealth
a year ago
You are overpaid buddy.
Total Comp looks fine as you have clarified that your Base is around 11-14 range. But yeah, this might be kinda above average compared to current market.
BiryaniEnthu
Stealth
a year ago
'Sharmaji ka beta' haunting continues
imanageproducts
Stealth
a year ago
It's currently for Customer Success Roles and SDE interns only.
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Don’t think you’re overpaid. The base salary is standard, just other benefits are higher than usual.
Over paid? Are you kidding me! Over acting ke 50 extra katne chahiye tere atleast.
Hey @imanageproducts
Can you please let me know how your day to day work look like in detail
Thanks
Btw startups standard maybe you are paid well. In terms of big tech standards, you are paid lower.
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