Is a Product Management career worth starting in 2024? My honest opinion...

Summary

In this video, the speaker evaluates the viability of a product management career in 2024, reflecting on its evolution over recent years. They discuss the increasing visibility of product management roles, particularly during the tech boom of 2020, and address recent skepticism stemming from company restructuring. The speaker emphasizes the versatility of skills gained in product management, asserting that these skills remain valuable across various roles and industries. Despite current challenges in the job market, they encourage aspiring product managers to build practical experience and highlight the enduring appeal of product management as a career path.

Takeaways

• 😀 The importance of effective communication in teamwork cannot be overstated.
• 😀 Regular feedback helps individuals improve their skills and performance.
• 😀 Setting clear goals is crucial for achieving desired outcomes.
• 😀 Understanding different perspectives can enhance problem-solving abilities.
• 😀 Adaptability is key in a rapidly changing work environment.
• 😀 Building trust among team members fosters a positive work culture.
• 😀 Leveraging technology can streamline processes and improve efficiency.
• 😀 Continuous learning is essential for personal and professional growth.
• 😀 Recognizing and celebrating small wins boosts team morale.
• 😀 Conflict resolution strategies are vital for maintaining harmony in teams.

Q & A

Is a career in product management still worth pursuing in 2024?

Yes, the speaker believes that a career in product management is absolutely worth pursuing in 2024, as it offers valuable skills and opportunities.

What factors contributed to the rise in popularity of product management roles?

The speaker notes that the popularity of product management roles surged around 2018-2019 due to increased exposure through platforms like Lenny's newsletter and various tech-focused social media channels.

What changes occurred in product management roles in late 2022 and 2023?

In late 2022 and 2023, product management began to receive negative attention, notably when companies like Airbnb restructured their product roles, leading some to mistakenly believe that product management was being eliminated.

What core skills are essential for a product manager?

Essential skills for a product manager include strategic thinking, project management, customer empathy, communication, and cross-functional collaboration.

How does the speaker view the impact of AI, like ChatGPT, on product management?

The speaker believes that while AI may take over some tactical tasks, the strategic elements of product management will remain crucial and require human oversight.

If product management roles disappear, what skills would still be valuable?

The skills learned through product management, such as problem-solving, strategic thinking, and collaboration, would remain applicable across various roles and industries.

What advice does the speaker offer for those struggling to land a product management role?

The speaker suggests being flexible and considering related roles, like business or data analyst positions, while also building practical experience through personal projects.

What is the current job market situation for product management roles?

As of May 2024, the job market for product management roles is highly competitive and challenging due to broader economic conditions.

What are some effective ways to stand out when applying for product management positions?

To stand out, candidates should focus on building practical experience, documenting their projects, and showcasing their skills through tangible examples rather than just completing courses.

How does product management compensation compare to other roles?

Historically, product management roles have offered competitive compensation, particularly in tech companies, though the speaker notes that the current market conditions may affect salary levels.