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P4 can be tech lead or Manager usually.
I know a P3 who is leading one small team and P4 who is a senior developer in another large team. So it varies
It's equivalent to senior manager ..because P4 is technical and M4 is managerial ,M4 is senior manager here .
But it depends on project requirement again ,for very big project there can be multiple 12 -13 years experience people and all are P4 but all can not be leader again
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