Hi All, I'm working as a PM in a private bank. Prior to this I had worked as a Business PM in another bank 😅 My experience is that work expectations, KRAs of bank PMs are not in line with what is standard. Mostly stuck with meaningless work, getting very few conceptual projects. Feel like I am a glorified BA, who receives additional shit shovelling from senior mgmt. Unable to get in depth experience in any vertical. Earning 20LPA, experience 2.8 years.
Need advise should I move out of PM and target Biz roles?
If you're considering the role purely on money stay in product.
Tbh the entire thought process for looking at role vs salary is flawed. You're going to work for 20 years. You might as well choose something that you like, can become the best in.
I'm not looking only at the Salary. But I can't take up roles offering less than what I'm earning now just for uping the learning aspect. Have current and upcoming liabilities
If you want to continue being a PM, move to a startup in the similar domain. For example, if you are working in a bank in lending, move to a lending startup. You should get better PM experience in the startup.
If you want to move to a business role, move to a P&L or risk role in a bigger bank preferably in corporate banking. The jobs in retail banks are mostly soul sucking.
Hope you get what you want. All the best!
PM in banks is just like an assistant to the senior management from what I have seen too.
The senior mgmt have no clarity on what product roles should be like, neither they have much product sense. Roles have been created to lure in fresh graduates. Most of the time it's BA work or sales support.
True, it's the same across the banking system.
Eventually you can switch to senior management roles in finance startups, large banking experience is good to have. CPO worked at large banks prior to stint in current org.
The only experience I am getting now is some enhanced version of IT project management. There is no ownership of the product, only postman work
My total experience:
3.5 Years: Channel Strategy & Growth: Life Insurance 1 Year: Co-founded Start-up: Manufacturing 8M: Digital Products: Life Insurance
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