How true is this?

The job market has dried up for senior product roles. Do you think the situation will improve soon? What's your overall outlook of product management as a career beyond 10 years? Do you see yourself doing this for another decade? Asking mostly from a supply and demand point of view. Also, has seen that the role is becoming more and more vague and replaceable. Context: Leading a 6 membered product team in a series B funded company. Managing the ceo/cpo opinion differences, moving to wfo from remote, high work pressure and too much reporting. I have been working with series A, series B companies throughout my career.

How's the market for PMs across all levels?

Everyone and their mother became a product manager in the last few years. How safe are these jobs in a recession. I often hear (from engineers who don’t hide their disdain for PMs so maybe a biased opinion) that they are the first one to let go. Is that true?

When I am looking at the opening of product manager I am amazed that only couple of opening are available from Hyderabad location. Is the market of product management in Hyderabad is bad ? I really want to work in Hyderabad. Any info experts ?

Query

For most part of last decade, product managers commanded a healthy premium in compensation over their business counterparts. This is largely how tech companies globally have operated, and what we have mirrored. But as the Indian tech ecosystem has matured over the last few years, a couple of the underlying assumptions have changed: One, ten years back, there was an explosion of startups and they were all in the market for "experienced product managers", and in a still nascent tech industry, such talent was in scarcity - thus triggering a premium positioning. Now, arguably, the equation has reversed: there are far more people entering the trade / in the profession with <5 years experience, than there are open roles in the market. And more critically, the growth rate of "product positions" has stagnated: particularly since product is a high-leverage function and does not scale linearly with company growth (but instead only with growth in # of companies). Two, most Indian startups / tech companies are not product-led unlike Silicon Valley ventures. Instead, a vast majority are operating businesses. These companies tend to have dedicated business teams who take up primary ownership of the business goals and thus, call the shots. In such setups, product managers play second fiddle as a bridge function to tech. Worse, product managers who scaled in such environments, they end up playing that part too: too focused on tech / design execution with not as much depth on the business understanding. In post-covid boom, we got the tailwind of being an engineering-adjacency in a techno-optimistic market. Now the same tides have turned and as a "generalist tech function", we are under scrutiny for wage-bill pressure. Do you foresee a correction in PM salaries? How soon (1y / 3y / 5y), and to what extent (10% / 20% / 30%) will the market correct itself?

How is the job market for APMs and PMs right now in India? I see a few companies hiring but have heard that folks have not received any good responses.