[This article is the last part of the PM compensation series. You can read the previous articles here, here and here.] XYZ was a high-growth and successful fintech firm with some 30-odd PMs and 150 engineers. Anand, Bama and Charlie were 3 Product Managers at XYZ Inc. working in different roles within
How should a PM’s performance be evaluated? In a recent post, I argued that one cannot consistently measure the intrinsic dollar value created by a Product Manager. Here are the performance metrics that can be set for different PM roles. The following common set of measures (not in any order of priority)
In the last article, we concluded that the only way to pay a PM is to use market-determined pay rather than trying to use the intrinsic value created by the role. Would it not be nice to define a neutral benchmark (or an anchor pay) that reflects value addition rather than market-driven
tl;dr This article illustrates why it is not possible to assign a dollar value to a PM’s contribution in a fair and consistent manner. “How much should I pay my Product managers?” – A founder asked me. He continued – “I have standardized the pay structure for my sales team based on
Feedback from managers could be misinterpreted by team members. Here is one possible misinterpretation – Imagine you had a feedback session with your manager. Your manager listed 5 items under “areas to focus on and improve”. Since there were a bunch of things to work upon, you pick up 2 items from
Sheela, the Director of products had a quarterly feedback session with her PM Sahil. She conveyed the following to Sahil – “Hello Sahil – Good to have you join our team (from the last quarter). Things have gotten better after you joined and started managing the customer experience initiatives. Few long pending
One thing I realized from my personal experience is that the skills required to transition from mid-level to senior management position (say from a Senior / Group Product Manager to Director, VP, and CPO) are very different from what makes one successful as a Product Manager. Product Managers who were rock stars
