Only PM in the startup, how much appraisal should I ask for at 6 months?
Background: I work in a D2C consumer product startup, we have an in-house website and a growing tech team of 7 people. The whole business team is 100+. I'm a '23 grad from a tier 1 engineering college. I joined the company back in September when the job market was at the bottom and I had to take a 40% pay cut (21LPA to 12LPA) (while switching (the last company ran out of funding). I was at a higher than avg base in my previous role but the current role is 20% below the average. (15LPA) The company is in a growth stage and lots of processes are yet to be defined which leads to a lot of chaos but I get a lot of freedom as well. My manager is aware of the whole situation and we had also negotiated a 6-month review for ESOP allotment. My monthly reviews have been going well and we have shipped some good improvements and features over the last few months.
Hmm I was about to write something bad but then saw you are already in a mess.
Maybe a useless advice but something to think about since you are young.
Do you really want to continue in product manager role? Don't you want to get a real skill? If it's too difficult to learn sde atleast analytics or data roles or even business analyst roles because I hope you atleast have to do some monitoring in your roles (I know many pms don't even do that?)
Why I say is , your breed of experience less people becoming product managers ruin companies. You first need to know what it takes to actually build something. Either in business roles or in tech roles itself. And then go into positions where you can analyse what's right to build.
Else you will simply become engineering's bit**. Am not lying. Product people are not respected at all. It's brutal, we put you in front of business folk to become a punching bag when things go wrong and also punch u ourselves when you don't get the requirement right for a products business case. I have seen your kind to literally resort to flirting if required, or play toxic politics to look relevant.
Think about a real skill if you like. Product is very less actual work and more toxic politics.
As per hike, talk freely with your manager, and just tell this is the market value (20lpa whatever is) and tell him it would not be an unfair ask to ask for the same, as many of your peers get the same. Also tell that you understand the company position, and then leave the ball in his court to decide how much you should get. That's the best play given youare a fresher. Learn properly till 2 years and then switch. Don't think too much about compensation because moment you switch you will be more than alright. Focus on learning.
Sorry if the first post is toxic, it's just what your seniors have created in the industry
bruh7
Stealth
6 months ago
🤣🤣🤣🤣🤣🤣🤣🤣 lol was fun reading this
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Qwerty2398
Stealth
6 months ago
Get another offer and don't ask for any hike. Just put your paper. Cook a story of "too far from home" or something to your manager. But to the HR, tell them in the face that it's not "affordable" any more. They will offer you the 40% hike.
Your manager will talk to you, tell him/her that they low balled you.
Ask for 80%. They will settle at 50%. Worst that can happen is they will let you go. Either way you win.
Actually we don't have an HR team yet, most of the salary negotiations happened with my manager only at the time of hiring. Appraisals will also go through him. Just startup things :)
Qwerty2398
Stealth
6 months ago
Then changing companies is your only hope to be a hike.
If you ask your manager for a hike, most likely he won't agree. If you quit he will offer you a hike and you accept it, he will treat you with contempt.
You quit and leave and he will call you ungrateful during your notice period.
So quit.. asap..
It’s tough market, so not sure your “ Going well “ does it translate into increase in revenue or funding ? If not then all by words or paper money they will try to convince you but not real cash mostly.
If they are still good and kind hearted then you will get the hike but that’s is very rare to find,
So ask the number what you have in mind and let the negotiations/conversation flow, then based on final decision decide whether to stick or jump.
All the best.
Thanks for the reply! The company recently raised series B, and the business is growing 15% MoM. I guess, I'll take my chances. :)
Momo_chutney
Stealth
6 months ago
Firstly at 23 you are getting good salary.
I am 25 years old working at a seed stage startup as a founders office - product intern, where there is allot to learn but less to earn.
Considering your pay, I feel it's not bad but more is always welcome.
But If you feel that your peers are getting much better pay in the same company. do consider going ahead raising it to your manager.
If you company has runway of 12+ months and you have been able to ship couple of successful features ... you may ask for 20-30% ... considering 6 months this would be quite good. Or atleast afjust the hike into esposnif you can see yourself sticking for sometime
Yeah, we just raised series B, we should have a runway of 2 years easily
grapevibe
Student
6 months ago
Got not even inflation beating numbers
The company's success is going to be equally important as is your individual performance.
If things are going well, be blunt and ask for say 40% hike (12L->17L)
Be ready to settle for say 15, the numbers move really slowly initially. You can get another hike in next 6months.
You'll only have the negotiating power if your manager is sensetised towards your current low pay compared to the market standards. That'll be your job to take care of.
