I exited consulting to Corporate Strategy one year ago. 13 years of experience, MBB + boutique background, financial services. Current total comp $400k. I studied engineering but never had a technical role. I can move internally to non-technical product management with my current firm (large bank), lateral move no salary change. Would it open the door for a higher salary by switching firms? An acquaintance told me that he makes $700k as a PM director at Citi, is that a reference level?

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PM directors at FAANG make 1M+.

Yes but a director in retail / commercial banking is not a director at FAANG, neither in skillset nor in seniority.

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