How is the market currently for product managers?
I want to quit my job and take a break.
I Have been contemplating to do the same for almost an year but decided not to do it. So many things have happened since then
- Layoff wave started in india
- Got married
- Had to move back to bangalore from hometown
Reason I want to quit is I don't feel like working , feeling bored and work doesn't interest me that much.
I want to take a break chill for a bit but don't have guts to do the same considering market conditions ( what if I don't get a job when I am back in the marketđ )
Please give any advice on how to tackle this situation or if someone has gone through the same, would love to hear your experience.
Also how is the product hiring currently in India?
PS: I do have a good runway for 4-5 months considering all expenses but I am scared to take the step
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Hey, my 2 rupees:
- If you are quitting, quit for the right reasons. Ask yourself if you feel you are running away from work? And if so why?
- It's important to know what you are running towards too. Have a plan! If you want to quit, what are you going to do with your time?
There is no right reason to quit, nor is there is a wrong motivating to want something. But it's imp to know why you feel so because then you can work on that aspect of yourself.
I do agree with the comments that 4 -5 months buffer is short - it takes about 4 -12 months to convert a job (unless you are not very picky).
Taking a break is a luxury - use it wisely :)
Great comment
Nicely elaborated, @Manic. I was in the boat of wanting to run away. Still sometimes feel that way but figured that it was only because of some drastic changes at work due to a new boss who has zero prioritization, says yes to everything the management says and wants the output from the team yesterday. I know I have to quit the boss, so will see if I can do that internally else have already started looking out. Quickly realized that the market is brutal right now - ghost postings, no calls even with solid referrals, and lack of roles that Iâm interested in and have skills for.
I was planning to quit and chill for a few months with a 3 yr runway including emergency. Glad I didnât coz it would have gotten frustrating very quickly for me.
@sturdysail30 However, if you actually just want to quit to focus on things in life like health, family, passions, interests etc, thatâs totally fair but you will need a lot more than 4-5 months. Else you will have to keep applying from now to land something by the time your break is over and stressing over getting a job during a break will not be fun.
Suggestions -
- Reduce expenses so that runway can be used for more number of months. Consider moving back home if that can help burn less cash.
- See if there is an option for sabbatical via your company- not all companies give that option.
- While youâre on a break, see if thereâs any income you can make from a different source or job without putting in the same kind of hours as you do at your current work so that it still feels like a break.
Whatâs your YoE? Anything above director of products -> market is bad. Stay put. Jr roles there is still some
TLDr - Better to stay than be in this market. However bad org or team or your motivation ia
I have ti have total 5 yrs of exp, with 3 in product and 2 in BA. I would be targeting PM2 sort of roles if I decide to start applying
There are such openings but you canât be super choosy. Best is to apply while on the job and not take a break. Gives you more freedom and mind space to choose the right next role vs doing under pressure of hunting with no job in hand
4-5 months runway is less. Keep a separate emergency fund and atleast a year of runway
Iâve done this, donât recommend it unless you are a person with high discipline and will power.
I thought Iâll take a break for 3 months, then it became 6, then it became a whole year.
When I started doing interviews, I got low-balled offers as I didnât have a job in hand.
And in the current economic scenario itâll be very difficult to get back in once you get out.
4-5 months runway is too less, need at least 2 years.
If youâre feeling burnt out, just work less. Fix a time for yourself like youâll only work 4-5 hours then check out. Pretend to work if office expects you to work more hours. Find a corner in office and read books/do interview-prep.
Donât listen to any of the comments here. If you donât feel like working, just quit brother.Even I am planning to do the same. Staying away from corporate job for time being is all I need. I cannot sacrifice my mental peace for a freaking monthly paycheck. This is a vicious endless cycle. But you gotta think - if money is your main goal, quitting might not be the best option for you
His runway is around 4-5 months. One month after quitting, panic would kick in and he would spiral into heavy regret.
Most ppl here have commented on having an year of runway. I think thatâs solid advice. Times are unpredictable. build up that runway so that you donât stress out in your break.
Market is not good if you are a generalist. But if you are a specialist ( niche skill set / domain or subject matter expertise) you will be okay
You are a head of product...give some advise to us fellow product guys, on how can product people become specialists...some particular product domains you can name?
To become specialists, you gotta identify a domain and stick to it for a longer duration, thereby giving yourselves the chance to explore and solve different types of problems and gain understanding of users in that domain. It requires you to commit to a domain for 5+ years.
Itâs okay to be a generalist very early in your career. But the earlier you identify your preferred domain, the better.
Examples would be gaming, payments, security/fraud/risk , telecom, e-commerce etc.
When markets are good, people are able to seamlessly jump between domains and you see a lot of hiring. But when the chips are down like the past couple of years, recruiters double down on specialists.
I was laid off 4 months ago. I haven't found a single job that's worth taking. I'm giving interviews but the interview process is fucked now. You'd need a runway of 8 months to 1 year if you want to work after quitting again. Taking a break right now is a bad decision.