This post is inspired by a conversation I was having with Arun Thomas on why Product Management may or may not be the next most sought-after job in the near future.
Having worked on Products across multiple domains, I believe the demand for Product Managers will increase, but at the same time, there will be some challenges.
CASE FOR:
- Rise of Digital Products
- Companies are increasingly embracing digital transformation.
- The demand for digital products, such as mobile apps, SaaS solutions, and online platforms, is skyrocketing.
The Product Manager’s role is at the heart of driving the creation & delivery of these products.
- Driving Business Success:
By understanding customer needs, conducting market research, and collaborating with cross-functional teams, Product Managers guide the development of products that align with business goals and customer expectations.
This ability to influence revenue generation and profitability makes Product Managers indispensable to organizations.
- Competitive Salaries and Career Growth:
The combination of technical knowledge, strategic thinking, and leadership skills required in the Product Management role contributes to competitive salaries & excellent career growth prospects.
CASE AGAINST:
- Increasing Competition
Rising popularity leads to increased competition for available positions.
Securing a role might become more challenging due to a larger pool of qualified candidates.
- Evolving Skill Set Requirements
- Product Management demands a diverse skill set encompassing product strategy, data analysis, user experience, and more.
- Product Managers must continuously monitor the technology evolution, and market trends, and keep upskilling.
- Entry Criteria
- While entry-level technology roles can be secured with technical training, product management is a completely different ball game. It needs all-around know-how. The role may be difficult for a new entrant.
- Non-Technical Background
- Having a non-technical background will limit discussions with the engineering team.
- It may be a challenge for someone from a non-technical background to make an entry in Product Management without walking the talk of an engineer.
While Product Management offers a rewarding and fulfilling career path, the evolving landscape requires a commitment to continuous learning and adaptability.
I believe success in Product Management lies not only in seizing opportunities but also in navigating challenges with resilience and a growth mindset.
Your Thoughts?