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I've worked at several companies where PMs are one of the highest turnover departments at the company, not from layoffs, but just from the political nature of the job. Also, I don't know about the banking world, but in my experience PMs work long hours, spend 60-70% of their time in meetings, and are ultimately blamed for product failures. For example, when I was a PM leadership laid off half my team and then blamed me for the instability of the product.
Appreciate your insight!
Pay growth at banks is very slow too fyi, layoffs are usually unlikely
I’m moving into a Sr BEC 5 role within product management - I’m finding on the community banking side these are very in demand and reliant roles, most of what I see are very safe.
The Product Managers I’m currently working with have been with the bank for over 10 years. They’re extremely busy though and are in leadership meetings everyday. They’re also very much involved in projects.