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Trying to figure out 'What to do Next'

Hello folks, i have been thinking to pen down a post on this community for sometime now but seeing how GP is becoming a bad mix of quora & Twitter, i refrained myself from doing it but I do believe there are like minded folks in this community who can help me out there. I am a growth product manager in a bank within their digital banking team, have 6+ years of experience post MBA from SIBM Pune. I have worked with a traditional media company for first 3 years and with successful startups for the next 2, I am in my current role for the past 10 months now. My CTC is 35 lpa, (30 fixed, 5 variable )and 3 lac joining bonus. I was doing institutional sales for first 3 years, category management for next 2 and now heading growth for the digital banking app. I am feeling stuck in my professional journey right now, no specific reason but I think banking work culture is a bit boring for me. I am trying to figure out 'what Next' and have also taken up a course with growthx with the intend to learn something new, upskill myself and be relevant as times are progressing. I have always been fascinated with the idea of working with company's like Google, Samsung, Stryker, Spotify where I can have flexibility, good pay but more than that a feel good factor of not having to prove myself everyday at work. I have given the last 6 years to work, I don't intend to be so involved going forward but very firm with the idea of corporate being my primary income I don't know if I am making any sense of the current situation but just wanted to share my mental state.

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Codex

TCS

4 months ago

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ParchedShip

Kotak Mahindra Bank

4 months ago

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Product Managers on

by ParchedShip

Kotak Mahindra Bank

Trying to figure out 'What to do Next'

Hello folks, i have been thinking to pen down a post on this community for sometime now but seeing how GP is becoming a bad mix of quora & Twitter, i refrained myself from doing it but I do believe there are like minded folks in this community who can help me out there. I am a growth product manager in a bank within their digital banking team, have 6+ years of experience post MBA from SIBM Pune. I have worked with a traditional media company for first 3 years and with successful startups for the next 2, I am in my current role for the past 10 months now. My CTC is 35 lpa, (30 fixed, 5 variable )and 3 lac joining bonus. I was doing institutional sales for first 3 years, category management for next 2 and now heading growth for the digital banking app. I am feeling stuck in my professional journey right now, no specific reason but I think banking work culture is a bit boring for me. I am trying to figure out 'what Next' and have also taken up a course with growthx with the intend to learn something new, upskill myself and be relevant as times are progressing. I have always been fascinated with the idea of working with company's like Google, Samsung, Stryker, Spotify where I can have flexibility, good pay but more than that a feel good factor of not having to prove myself everyday at work. I have given the last 6 years to work, I don't intend to be so involved going forward but very firm with the idea of corporate being my primary income I don't know if I am making any sense of the current situation but just wanted to share my mental state.

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Product Managers on

by Z3r0

Swiggy

Longevity of a product career

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.