Currently a consultant w 5yoe (3 at b4), is a product owner role a good exit? Could it be a stepping stone to a product management role later in my career? This would be a 10% pay cut

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Absolutely!! A PO role would be a stepping stone for any future PM role. Regarding the 10% pay cut, you could negotiate on Learning Opportunities (certifications, courses, etc.), Benefits (Internet, Phone Bill, Equipment, Home office setup, etc.), or other compensations (Joining Bonus, Performance Raise, etc.).

Speaking from personal experience, even if you start with a low salary initially, you can quickly jump pay grades in the future based on your performance and product domain experience.

Good Luck!!

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You have exp as a PO, that is a good start. Don't worry about the pay cut. You can get a hike every year much more than the cut %.

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Recieved a hike of 10% with 2 rating.
KGS.
I see people getting 27% with the same rating.

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