I am currently in the Discover product part of Search org. I have just been promoted to L5 and am thinking of moving to Ads team with the motivation of having easier career growth to L6.

Is it wrong to assume that it is easier to get to L6 on Ads?

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I can only speak to PM roles, but PM promotions in Ads are not easy to get. The standards are very high and there's abundant competition from other talented and ambitious people.

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