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"Product Manager" Hype ≈ "Strategy Consultant" Hype
Software Engineering and PM salaries are usually equivalent. It’s a highly selective role with a large salary where you get a lot of responsibility at one of the largest companies in the world. That’s where the hype is.
PMs are essentially the GMs of a product area, since they lead across cross-functional teams (Eng, UX/UI, Mktg, Finance, etc) to launch/maintain/improve products. As G3 mentioned, their comp is similar to Eng roles and they are highly respected at Google since they are critical to how users perceive Google products - it’s not just hype. On the other hand, they can be given too much leeway when a product is high priority but not successful in the market, and thus hangs around until eventual sunset - eg, products like iGoogle homepage widgets, Google Wave, Google+
What kinda hype are you hearing?
1. What hype
2. Invariably the answer is “it depends” on what you Personally fine fulfilling
Harder to get it than getting into Harvard..