The Indian Product Manager Salary Report with Aakash Gupta (Ex-VP Apollo.io) | HelloPM Podcast

Summary

In this insightful discussion, Akash shares valuable strategies for product managers to excel in their careers, emphasizing the importance of understanding market worth and leveraging data for effective salary negotiations. He highlights the need for product managers to focus on real product management tasks within the first 90 days of a new role and discusses the future of product management, including the impact of AI. Additionally, he provides actionable advice on job interviews, networking, and the value of side hustles for skill development.

Takeaways

• 📊 There's a significant salary disparity among product managers in India, with the top 10% potentially earning over 100 lakhs, while others in similar positions might earn as low as 15 lakhs.
• 📈 The report by Akash and his team provides actionable insights, not just raw salary figures, aiming to help product managers understand how to increase their earning potential.
• 🔍 Key factors influencing salary include the company's location, size, and success, as well as the industry sector and the individual's experience and negotiation skills.
• 💼 Working for profitable companies, particularly those in the top financial tiers of the market, can lead to higher salaries for product managers.
• 🤝 Networking and referrals are emphasized as crucial for job opportunities, with a focus on leveraging personal connections rather than just digital networks.
• 💬 The importance of standing out in a job application process is highlighted, suggesting unique approaches such as creating presentations or reports tailored to the company.
• 🗣️ Negotiation is key in salary discussions, with advice given to use data and market insights to argue for higher compensation.
• 🔑 To move up in salary percentiles, product managers should consider the profitability of the company they work for, as well as the potential for personal growth and impact.
• 🛠️ The interview process should involve preparation and practice, with candidates encouraged to record themselves to refine their responses and energy levels.
• 🎯 For new product managers, the initial focus should be on understanding and potentially redefining the product, metrics, and problems to solve, rather than just executing existing plans.
• 📚 Recommended books for product managers include 'The Mom Test' for customer interviews, 'Crucial Conversations' for handling important discussions, and 'Trustworthy Online Controlled Experiments' for conducting effective tests.

Q & A

What is the main focus of the discussion with Akash about product managers in India?

The main focus of the discussion is to explore the salary variations among product managers in India, understand the factors contributing to these variations, and provide actionable insights for product managers to advance their careers.

What does the report reveal about salary disparities among product managers with similar positions and experiences?

The report reveals a significant deviation in salaries, with some product managers in similar positions and with similar experiences earning as low as 15 lakh rupees and others earning up to 40-45 lakh rupees.

What are the critical factors identified in the report that influence the salary percentiles of product managers?

The critical factors include the company's location, years of experience, the size and success of the company one works for, and the industry sector.

How does the report suggest product managers can improve their salary prospects?

The report suggests that product managers should aim to work for more profitable companies, negotiate better using data, and stand out from the crowd by showcasing their unique value and capabilities.

What is Akash's advice for product managers who are looking to stand out and get into the top salary percentile?

Akash advises product managers to create a comprehensive report or presentation showcasing their understanding and strategies for the company they wish to join, which can help them stand out and negotiate better.

What is the importance of tailoring your application to the specific company and role, according to the discussion?

Tailoring your application is crucial as it shows you have a deep understanding of the company and the role, increasing your chances of getting noticed and hired.

What strategies are suggested for job seekers to increase their chances of getting an interview?

The strategies include using multiple job listing websites, customizing resumes and cover letters for higher chances, and creating compelling content like reports or presentations that demonstrate your value to the company.

How does the discussion emphasize the importance of negotiation in securing a better job offer?

The discussion emphasizes that negotiation is key in securing better offers, advising job seekers to use data, leverage from other offers, and communicate their worth effectively to potential employers.

What are some of the common mistakes that product managers make when applying for jobs, as per the conversation?

Some common mistakes include not considering a variety of companies, focusing too much on one application process, and not standing out from the crowd with unique strategies or presentations.

How does the discussion suggest using personal networks for job referrals?

The discussion suggests leveraging personal networks more effectively by reaching out to people you have a genuine connection with, rather than just random connections on LinkedIn, to increase the chances of getting a valuable referral.

What are the key takeaways from the discussion for product managers looking to advance their careers?

The key takeaways include understanding market salary data, tailoring applications, standing out with unique strategies, leveraging personal networks for referrals, and effectively negotiating job offers.