Considering an exit from MBB (mostly doing strategy work) to a tech PM role (not FAANG, but comparable). No TC numbers yet, but directionally comp and WLB will both improve. Any thoughts on the long term career outlook for PMs? Does the ownership / P&L responsibility set you up for more senior roles in orgs or is the common exit from PMing another PM gig? PM exits seem to be highly sought after on this bowl, but I’m wondering if people end up getting stuck in those roles.

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It's a rare PM role that has P&L responsibility. That's part of why an exec exit from PM is hard.

Typical PM career paths I've seen:
- Bounce around junior to mid level PM roles at large companies
- (Co-)found a startup
- Go to an early stage start-up as Head of Product. Repeat until a start-up you're at does well and you end up as CPO with a good team under you

There are outliers who get promoted up the ranks in a big company (becoming executives) or get hired away as executives (e.g., Deborah Liu), but that's rare even for people who are great at their jobs.

This is one of the reasons I left PM. If you don't want to take the risks of a start-up, it's very easy to get stuck as a mid-level manager.

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Thank you, this is super helpful and confirms some of my suspicions! Assuming you go in mid-level, I’m assuming it’s hard to pivot to lateral roles within the org after 2 years, correct? E.g., strategy or biz ops.

Those are typically undesirable pivots - a step down from a PM of the same level in terms of comp & respect in the org

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(in response to the strat/bizops Q)

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+1 on Bain 1 feedback above. PM orgs are pretty flat, making it to a people management role is not easy (especially vs. consulting). There’s also principal/senior IC roles (eg L7 principal Amazon, IC6 at FB) at large tech cos where you have more responsibility and comp is 400k+, probably a bit more manageable to get vs. mgmt role but still not easy.

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