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You need to move to big tech!
Uber1, my issue is with the nature of what you are asked to work on.
1. Product = what and why
2. Program = who and when (delivery management, resolving dependencies you have in other teams, project status updates )
if Product Managers find themselves spending time on #2, it's a red flag.
The what and whys are mostly decided by someone else and folks are just brought in to support execution. Fine if you are a program manager but a big waste of time and talent if you are a Product Manager being forced to work on #2
That comp is quite low considering the scope of your role. Have to move on to the next leadership opportunity. You should be close to $250k - $300K TC … possibly higher depending on YOE.
With your management and 0 - 1 PM experience, you could easily be Director/Senior Director depending on what that entails at the next company.
If you have less than 8 - 10 YOE then you might have to be selective since many tech companies are reluctant to put less-tenured leaders in big leadership roles. For reference, Meta Directors are often expected to have 12 - 15 YOE as a PM and/or ENG. However, Microsoft director levels (L64 - L66) look for at least 8 - 10 YOE as a PM depending on the level and your experience at organizations with large-scale products.
Get the Director role if you can hang on - your floor will be high wherever you go next.
Definitely underpaid - I’m at 180 TC in a LCOL city in my first year of being a PM (total of 3 yoe). My scope is no where near what you do. Unfortunately the problem is that the market seems to have cooled down and it’ll be a bit harder to negotiate high comp packages.
Being a Product Manager in a non-tech firm has a lot to teach and gives you the complete spectrum of understanding. However, the flip side could be the lesser range of pay. I work in hospital setup so experiencing this first hand.
As you mentioned in a reply to another post, hold for 1-2 more years to get the director role, if you can. If you are offered the same role outside in a tech firm then jump off.
This seems small for this much respinsibikity
Your comp is not bad, 200k+ is good comp however you look at it, but you’d definitely make a lot more in tech.
Is the SaaS product developed by another tech company or big 4 (the one you work for )?big 4 isn’t known for any product. Managing a team of tech folks who configure a product built by another company is more of solutions engineering imo.
Ha I am used to this question by now doing product at a consulting firm. We 100% develop it. We have a portfolio of SaaS products that we sell out in the market.
Check out levels.fyi, you can make way more in big tech
Underpaid I’m a pm and make close to that.. but in tech