In this video clip, I share honest truths of wages, work profile, exit chances, as well as job contentment of an item manager from Amazon.com, PayTM, Flipkart, and Netflix and also contrast that to a monitoring professional from BCG, Mckinsey
The numbers and also experiences as a Product Manager originate from my very own direct exposure in this area and also from countless casual conversations I have had with good friends from Amazon, PayPal, as well as Tesla over a “chai break”. Look ahead to hearing your sights.
To enter administration consulting and item administration to advance your wage, inspect out Global Governance Initiative Impact MBA Scholars right here- https://www.globalgovernanceinitiative.org/ggi-scholars
Item Requirement Document (PRD) by Fellows- https://www.globalgovernanceinitiative.org/post/mental-health-product-perspective-and-ideas
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Shatakshi is Co-CEO of Global Governance Initiative (MBA program lately featured by Poets & Quants), an Ex Lover- Boston Consulting Group, BCG, monitoring specialist, an author, and also previous public law expert in Tony Blair Institute for the Middle East region.
She has actually been additionally felicitated with The Most Promising Women Leader 2021 honor by ET and Linkedin Top Voice 2021. Her meetings have actually been published in leading plan and also occupation organizations- Modern Diplomacy, BCG, Poets & Quants, Your Story.
She will be uploading daily material on occupation advancement (MBA, consulting) individual financing, as well as efficiency hacks. Make sure to sign up for the network to get alerted whenever she submits the video clip.
Have you ever before compared monitoring consulting and also product administration? Or have you ever before asked yourself which of 2 has far better job fulfillment and departure opportunities? In this occupation insight, we will discover all the facets of monitoring consulting and also product administration individually.
1.1 Work Profile.
It is famously claimed that the item manager is the CEO of the item. As an item manager, you are the building contractor of the product. Returning in background, you will realise that people have constantly been creators as well as building contractors.
Due to this, you have greater work satisfaction as an item supervisor. The evident outcomes and effects give us a lot of validation. Along with this, you do a whole lot of inter-departmental affecting without authority.
A classic item supervisor sits at the crossway of the customer organization, interface and also technology. The most awful error you can do as a product manager is asking the customer for troubles and also options. In this facet, Steve Jobs was an excellent designer, as he comprehended the individuals’ requirements without them also stating them.
With my lengthy background of functioning as an item manager, I would give it a ranking of 2.5/ 3 in regards to task complete satisfaction.
1.2 Exit Opportunities.
Item managers usually have appealing leave opportunities. Taking the instance of Sundar Pichai, that used to be the primary product manager and at some point ended up being the CEO.
The array of ordinary CTC packages would certainly be 23-28 Lakhs. Amazon.com, Flipkart and other leading organisations would go to the higher end of the range and also business like Oyo and Meeshow as well as the reduced end.
Ofcourse these numbers can alter based upon the designations. Occasionally there are senior item managers or associate supervisors. I am taking the context of product supervisors after their MBA or a formal degree.
2.1 Work Profile.
Professionals have a wider round of impact. Product administration just takes place to be one of them.
The skill needs for both task accounts are quite similar. As a professional, you have to spend a whole lot of time affecting your colleagues, group leader and also client.
As a previous BCG expert, I would rank management consulting 2/3 in regards to work fulfillment. The reason behind the lower score is that I such as implementing, not simply advising.