Is Product Management the next Engineering degree?

In the ever-evolving tech landscape, Product Management (PM) has emerged as a beacon for those aspiring to blend technical acumen with strategic business insights. But there's been an influx of talent going into product management, from fresh graduates to seasoned pros. There's something about the wide-ranging scope and depth of product management that's catching everyone's eye, after all, everyone wants to be the 'CEO of the product.' But here's the thing – with more and more people transitioning into PM and the myriad of questionable courses popping up, the job market's getting over-saturated. It's tough out there, and not everyone's finding their spot. So it begs the question, is product management the new engineering degree – popular but super crowded? Here is a recent Reddit conversation that explores the sentiment and challenges facing PMs in a tightening job market.

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What is Product Management?

At its core, Product Management is the art and science of guiding a product's lifecycle from conception through development, launch, and beyond. Product Management is a role that demands a unique blend of skills, including market analysis, customer empathy, strategic vision, and the ability to work seamlessly across various teams to bring a product to life.

Why Product Management?

The allure of Product Management lies in its dynamic nature and the pivotal role PMs play in shaping products that meet and exceed customer expectations. Moreover, the financial rewards are significant, with PM roles often commanding impressive salaries due to the high level of responsibility and the broad skill set required. Entry-level salaries start at $65k-$90k per year and some senior and specialized PMs can earn up to $900K and above!

However, as the field of Product Management flourishes, it's facing a pivotal moment that could define its future trajectory. A recent Reddit discussion sheds light on the current state of Product Management, echoing sentiments from professionals across the spectrum.

The Crowded Path to Product Management

"There's just so many people entering the product management space," begins a mentor in the Reddit thread, highlighting the surge in interest from individuals at various career stages. This growing interest is attributed to the "unique breadth and depth of the role," which many find more democratic and engaging compared to other positions.

Yet, this popularity surge brings its challenges. The mentor voices a concern echoed by many: "The aspirants' number keeps increasing...there aren't enough jobs, and a lot of them are left unemployed already." This sentiment raises an important question: Will Product Management become the next oversaturated field, akin to what some perceive has happened with Engineering degrees?

The Quality Conundrum

As more people flock to Product Management, the quality of incoming professionals becomes a pressing issue. One Reddit user, 'PdtMgr', points out, "So many people are calling themselves as mentors, trainers with just theoretical knowledge...These get-rich-quick kind of schemes will create bad PMs and failures." This highlights a growing concern about the depth of knowledge and experience of those entering the field, potentially diluting the quality of Product Management as a profession.

Experience Matters

The discussion also touches on the importance of experience in Product Management. "Product management is a role that someone with deep experience in the creation AND commercialization of products should play after years of doing something else," states 'luckymethod', emphasizing that Product Management should not be an entry-level role. This perspective is crucial in understanding the complexities of the job, which often requires a seasoned hand to navigate effectively.

The Role of Education and Mentorship

With the rise of online and offline courses, there's a debate about the path to becoming a Product Manager. While formal education in Product Management is rare, the role has traditionally been one of mentorship and on-the-job learning. However, the quality of mentorship is under scrutiny, with 'Afterlite' noting, "When you look at these people’s LinkedIn, they have absolutely no history in product other than founding their own mentor ‘company’."

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The Future of Product Management

Despite the challenges, there's optimism about the future of Product Management. 'Efficient_Draw_9811' suggests looking at the broader tech landscape, where similar trends are observed across various fields. They argue, "There will continue to be a demand for PMs, just as there will be so for CSs, Devs, QAs, etc."

Moreover, the role of Product Management is continually evolving. 'Big3gg' eloquently states, "You need these micro-CEO's who are making strategic decisions about how to deliver customer and business value tying together every discipline from creative to engineering." This evolution suggests that while the path may be crowded, the journey and destination of Product Management remain as compelling as ever.

Navigating the Crowded Waters

As the field of Product Management continues to attract a diverse pool of talent, the challenges of saturation, quality, and the path to entry are more pronounced than ever. Yet, the fundamental allure of Product Management — the chance to shape products that touch lives and change the world — remains undiminished.

For those navigating these crowded waters, the key lies in continuous learning, genuine mentorship, and above all, a relentless focus on the customer. In doing so, the future of Product Management can be as bright and impactful as the products it aims to create.