Impact of the market conditions / layoffs on PM salaries
I want to understand (probably recruiters and folks who switch a lot can answer) if PM / SPM salaries have taken a hit due to so many layoffs, poor hikes, fear of losing job, etc. Want to know how much has it been impacted? And what is the new norm? Say for a PM / SPM with 4-6 years of experience, what should be the salary expectations now (vs 1.5 yrs before)?
It is definitely a bad condition for entry level folks for PM roles. I know someone who got laid off last year, was from a top Bschool and still hasnt landed up a role. He was at 18-22 fixed. This is for someone with less than 1 yoe. I keep hearing that PM roles are just being eliminated so whereever you are, stay there. No scope of hikes as there is ample of talent in the market who are willing to come on a cut as they dont have anything.
Good companies are still valuing talent and are paying for it.