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.
