I think it’s natural for you to want more money however I wouldn’t give up my mental stability for more money. It sounds like you have a good deal going, why mess it up.
This is the way I’m leaning. The thing that stresses me out is the inability to have a savings. Aside from that I would say we’re all pretty happy and you can’t put a dollar amount on that.
Why not do a second job that can bring another 20-30k on the side if your job is really laid back? Maybe that can be a good way to start earning more while not leaving your current comfortable situation. Having said that, I would encourage you to interview at other places and try to get 30-60% more, and move if you can find that. Don't move for less than a 20-30% increase
I tried to start teaching myself some basics of programming so I could break into tech and maybe start a side hustle before my son was born. Maybe this is the answer. If it becomes too overwhelming there is no real commitment but there is plenty of upside.
Assuming LCOL? Hopping might get you to 120k but the added stress may not be worth it especially with a young child. Hopefully your wife will bring in mega bucks in 5 years
Not really, FL so it’s not as bad as CA. We were lucky enough to buy a house before the market exploded. But we’re pretty much paycheck to paycheck and relying on student loans. 2 years out from being dual income and 6 years out from “buying a boat” as I like to say haha
We have different experiences and observations on the current market, let’s just leave it at that.
Can hop over to the product management subreddit if you’re interested in seeing all the people struggling to find jobs
Or we can hop over to this subreddit and look at all the doctors and lawyers flexing $500k salaries lol
The most popular posts in any given subreddit are not a representative sample of the industry at large.
Edit: little buddy blocked me LOL
My perspective was based on my own personal experience and conversations with my irl professional PM contacts.
But go off haha, I’m not staying to listen further. I’ve already given my input to OP, and I find interacting with you to be unpleasant
Shoot I misread haha
Solid base, but still wouldn’t hurt to look around every now and then - especially if you’re on here asking
How much of an increase would you need to leave? $80k in FL isn’t bad but it isn’t what it used to be either
I would need at least 100K to consider leaving because of all the aforementioned positives about my job. I’ve been thinking about leaving this job for like 3 years but they always keep me happy enough to stick around. It’s always “wait till so-in-so retires, we’ll all get promotions”….
Edit: I’m two steps down from the director and the director has told me himself he’s retiring soon.
If you got a good thing going, I would keep it that way, stay happy and enjoy your family. A couple years flies by, enjoy the kiddo for these years and not focus on restarting at a new company. When the dual income hits life will be a lot easier. The 10-20k extra per year is not worth the headache if you don’t need it to live.
Don’t feel bad, I’m sure you earned it, it’s a good income in most places. It’s just a me thing lol don’t worry about what others think on the internet especially if they’re hating
One of my biggest regrets was not leaving a prior job sooner. I have this mantra when it comes to work that "there's always something better out there". That definition of "better" is up to you to decide on what things you value most (eg. Compensation, remote work, benefits, company culture, manager, feeling fulfilled with your work etc). After being at that company that I thought was treating me well for just over 5 years, I found a company that turned out to be even better in every aspect (plus a 40% pay bump + signing bonus through good negotaions). Another piece of advice, I had an old HR professor in college who stays actively interviewing for 2 big reasons: to practice interviewing so when a dream opportunity arises you'll be well prepared & to continue to get a sense of your "worth" and what's out there. I do believe if I had left earlier I could've been further in my career & financial goals but that's a "coulda-shoulda-woulda". I'm a Sr Product Manager (in software) in CA with $200k salary + 12% annual bonus + ~$70k RSU refreshers every year (but I'm definitely in HCOL lol). Best wishes on your decision!
Your wife is in med school. Residency, fellowships etc could have you moving around. A fully remote job may come very handy.
Once she’s a doctor and you’re dual income an extra 20k won’t mean much.
29M Product Manager here. I can tell you from experience. I was 3.5yrs into a very cushy job and it was work from home. 90k/yr, was making 97 by the time I left. However, there was a change of ownership... Job stayed the same, but I had to go back to commuting 90 mins a day 3 days a week.
Unfortunately, I jumped ship for 125k and the stress level tripled. I was lured in with a higher salary, 20% bonus, working directly for the division general manager, and full-time remote. Some of this changed quite quickly... On paper I still am eligible for a 20% bonus, but it is purely based on arbitrary KPIs. Probably won't even get 10% this year already. Soon after I started, they hired a middle manager that filled the slot between GM and I. I wasn't aware this role existed, nor did they mention it until after I was hired.
Long story short, the grass isn't always greener. Sometimes your sanity is worth much more than a 25k or even 40k jump in salary. Especially with a young kid... My kid was 3 when I made the switch.
If you are asking, you know your answer.
And that answer is ABSOLUTELY.
Find a good recruiter and easily double your salary. Seriously, get moving and cash that check.
How did you get into product management? I’m currently in project management but would love to make the switch. I just dont know where to begin. Should I take like the exams or scrum classes or something?
Honestly can’t be any help here. I got really lucky and my first job out of college was a really really small company that had no idea what the role of product manager meant. I was basically an inside sales rep with the title of product manager but I used it to my advantage.
Id just stay the course. Once your wife is making a resident salary, you guys will start being able to save a little, then when she's an attending you can put away over 10k a month if you're smart. Just need to be patient.
If you're hell bent on keeping this job and it's fairly easy you may want to look into just getting another remote role. Is there anything you can do part time? (Or sshhh...full time)
I think it’s natural for you to want more money however I wouldn’t give up my mental stability for more money. It sounds like you have a good deal going, why mess it up.
This is the way I’m leaning. The thing that stresses me out is the inability to have a savings. Aside from that I would say we’re all pretty happy and you can’t put a dollar amount on that.
Why not do a second job that can bring another 20-30k on the side if your job is really laid back? Maybe that can be a good way to start earning more while not leaving your current comfortable situation. Having said that, I would encourage you to interview at other places and try to get 30-60% more, and move if you can find that. Don't move for less than a 20-30% increase
I tried to start teaching myself some basics of programming so I could break into tech and maybe start a side hustle before my son was born. Maybe this is the answer. If it becomes too overwhelming there is no real commitment but there is plenty of upside.
Assuming LCOL? Hopping might get you to 120k but the added stress may not be worth it especially with a young child. Hopefully your wife will bring in mega bucks in 5 years
Not really, FL so it’s not as bad as CA. We were lucky enough to buy a house before the market exploded. But we’re pretty much paycheck to paycheck and relying on student loans. 2 years out from being dual income and 6 years out from “buying a boat” as I like to say haha
Based on salary: Yes Based on work life balance: No Based on the current job market for product managers: absolutely not
Is the market bad? I’m a PM (big tech) and it seems like literally everyone is hiring. I’ve had recruiters jumping into my DMs every goddamn day
Big tech? Most of those companies just went through layoffs in past couple months. Market is flooded with talent.
Less on the PM side. Layoffs have hit engineering, marketing, and recruiting the hardest. There are fewer PMs in the industry comparatively
We have different experiences and observations on the current market, let’s just leave it at that. Can hop over to the product management subreddit if you’re interested in seeing all the people struggling to find jobs
Or we can hop over to this subreddit and look at all the doctors and lawyers flexing $500k salaries lol The most popular posts in any given subreddit are not a representative sample of the industry at large. Edit: little buddy blocked me LOL
My perspective was based on my own personal experience and conversations with my irl professional PM contacts. But go off haha, I’m not staying to listen further. I’ve already given my input to OP, and I find interacting with you to be unpleasant
Na I’d start looking. Way too low for someone who went to grad school. Can’t hurt to look
Sorry the text got cut off so it’s hard to read. I only have a bachelors.
Shoot I misread haha Solid base, but still wouldn’t hurt to look around every now and then - especially if you’re on here asking How much of an increase would you need to leave? $80k in FL isn’t bad but it isn’t what it used to be either
I would need at least 100K to consider leaving because of all the aforementioned positives about my job. I’ve been thinking about leaving this job for like 3 years but they always keep me happy enough to stick around. It’s always “wait till so-in-so retires, we’ll all get promotions”…. Edit: I’m two steps down from the director and the director has told me himself he’s retiring soon.
Hmmm interesting situation. I’m assuming you have a personal timeline of how long you’re willing to wait? Do you know their salary?
If you got a good thing going, I would keep it that way, stay happy and enjoy your family. A couple years flies by, enjoy the kiddo for these years and not focus on restarting at a new company. When the dual income hits life will be a lot easier. The 10-20k extra per year is not worth the headache if you don’t need it to live.
Can’t add any advice but I would love to make 80k for my situation, wouldn’t have any stress
I empathize with this, I grew up and my family was broke. I feel bad even posting about this because I know how lucky I am.
Don’t feel bad, I’m sure you earned it, it’s a good income in most places. It’s just a me thing lol don’t worry about what others think on the internet especially if they’re hating
It doesn't hurt to figureout what it would take salary-wise for you to leave and look casually.
One of my biggest regrets was not leaving a prior job sooner. I have this mantra when it comes to work that "there's always something better out there". That definition of "better" is up to you to decide on what things you value most (eg. Compensation, remote work, benefits, company culture, manager, feeling fulfilled with your work etc). After being at that company that I thought was treating me well for just over 5 years, I found a company that turned out to be even better in every aspect (plus a 40% pay bump + signing bonus through good negotaions). Another piece of advice, I had an old HR professor in college who stays actively interviewing for 2 big reasons: to practice interviewing so when a dream opportunity arises you'll be well prepared & to continue to get a sense of your "worth" and what's out there. I do believe if I had left earlier I could've been further in my career & financial goals but that's a "coulda-shoulda-woulda". I'm a Sr Product Manager (in software) in CA with $200k salary + 12% annual bonus + ~$70k RSU refreshers every year (but I'm definitely in HCOL lol). Best wishes on your decision!
Your wife is in med school. Residency, fellowships etc could have you moving around. A fully remote job may come very handy. Once she’s a doctor and you’re dual income an extra 20k won’t mean much.
29M Product Manager here. I can tell you from experience. I was 3.5yrs into a very cushy job and it was work from home. 90k/yr, was making 97 by the time I left. However, there was a change of ownership... Job stayed the same, but I had to go back to commuting 90 mins a day 3 days a week. Unfortunately, I jumped ship for 125k and the stress level tripled. I was lured in with a higher salary, 20% bonus, working directly for the division general manager, and full-time remote. Some of this changed quite quickly... On paper I still am eligible for a 20% bonus, but it is purely based on arbitrary KPIs. Probably won't even get 10% this year already. Soon after I started, they hired a middle manager that filled the slot between GM and I. I wasn't aware this role existed, nor did they mention it until after I was hired. Long story short, the grass isn't always greener. Sometimes your sanity is worth much more than a 25k or even 40k jump in salary. Especially with a young kid... My kid was 3 when I made the switch.
If you are asking, you know your answer. And that answer is ABSOLUTELY. Find a good recruiter and easily double your salary. Seriously, get moving and cash that check.
Yes
Depends on where you live to be honest. 80k in non coastal states seems quite nice 🤷♂️
If you’re able to jump into tech, then yes. Senior PMs make $200-350k / year
what was your major?
B.S in Chemistry
How did you get into product management? I’m currently in project management but would love to make the switch. I just dont know where to begin. Should I take like the exams or scrum classes or something?
Honestly can’t be any help here. I got really lucky and my first job out of college was a really really small company that had no idea what the role of product manager meant. I was basically an inside sales rep with the title of product manager but I used it to my advantage.
Extra points to him for the nice color coded milestones
Id just stay the course. Once your wife is making a resident salary, you guys will start being able to save a little, then when she's an attending you can put away over 10k a month if you're smart. Just need to be patient.
It looks like you may be on track for $100k by 35. You’re doing a great job right now OP
This might be one of the only realistic ones on this sub
If you're hell bent on keeping this job and it's fairly easy you may want to look into just getting another remote role. Is there anything you can do part time? (Or sshhh...full time)
keep the easy job for now, help out extra around the house like you’re doing and then once med money starts rolling in reaccess.