Are PMM roles at FAANG (or comparable) really that desirable?

Are they not significant pay cuts relative to consulting, particularly long term? Or does stock make up the difference?

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Are you talking about PM or PMM roles? For comparison a first year PM will make about ~200k all-in. Someone coming from an MBA + MBB for 3-4yr to be a PM would be offered an L5-L6 role, 250-350k all-in.

I believe PMM roles pay somewhat less, like 10-20%, but I don’t have enough of a window into this to know for sure.

Either way, you don’t leave because of comp. You leave because you want something different than what consulting offers. E.g lifestyle, being an operator/investor, working on products. Net-net I don’t think risk- and CoL-adjusted comp progression will be better, esp. if coming from a low CoL area.

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Glassdoor has PMM base at ~$130K and total at ~$160k. Is that accurate?

Have been considering this, but particularly in Bay Area doesn’t seem great honestly. Consulting base in Chicago is ~$135k and upside of partner is >$1M (but probably 7+ years out).

Am I missing something here?

You have to consider the whole package. Take Google for example. High impact work, great colleagues, decent work hours, free food, amazing benefits.

Is the different career trajectory worth it? Do you see yourself (reasonably) making partner and the high income that comes with it? Is the work life balance tradeoff worth it? Does going to FAANG limit your career trajectory in comparison to staying in consulting?

Personally, I realized that the firms I was at (boutique) did not have those paths available to me, so jumping was a no brainer.

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