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pretty common, but I will say, an observation ive made is that all the product leadership around me comes from no name local state schools. Its truly meritocratic, so dont think a “prestigious” MBB background will save you. I work with a lot of FAANG leaders especially in product and theh are all sharp - some definitely have that MBB credential, but imo, 95% of the really crucial leaders have the most wild, random backgrounds with many not having a tech background.
F
I'm seeing less and less MBBs because they think they can do strategy for a product without understanding customer needs or business requirements.
They also can't handle the dysfunction of the American enterprise, which is easy from the outside and quadruples for a PM.
They usually keep on their consulting hat and never get out of it, so execution is weak and they don't last 18 months in a role.