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You are being taken advantage of. Take this up to your manager and show past work. You should be promoted to Product Manager and salary should reflect that. If you don’t get both, start interviewing and get that raise. Good luck
If you like the company and want to stay - I’d recommend you ask your manager if you could start to take on some of those smaller features/products/projects in addition to the large product. This will put you on the same exact level as the other PMs. It’ll be a stretch at first, but it’ll set you up for a couple months later when you ask your manager to promote you and hire an APM to work on the larger product/project with you.
You should be thankful about that. It's giving you the opportunity to improve yourself and grow into a more skilled employee in that position. Don't be distracted and just focus on what is important right now.
The features, I promise you, aren’t more critical lol. It is literally adding one button somewhere with hardly any back end requirements. they finish the documentation for it in 1 day