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Navigating the Great Resignation: A Closer Look at Why Product Managers Are Leaving Their Jobs
A surprising trend is emerging in the midst of an economic crisis: product managers, particularly those in senior-level roles, are increasingly looking to quit their jobs.
Recent data from Payscale shows a staggering 66% of them are planning to move on despite commanding a median annual salary of $144,000. Let’s take a closer look at what’s causing this movement, and how it can help shape product leadership in 2024.
High salaries, higher stress
It’s easy to assume that a hefty paycheck is enough to keep job satisfaction high. But Senior Product Managers everywhere are facing unique challenges that even a six-figure salary can’t fix.
The tech industry, notorious for high-profile layoffs, has led many to seek more stable opportunities. PMs often grapple with dwindling resources and increased workloads, intensifying stress and leading to burnout. It’s a reminder that financial compensation alone isn’t the silver bullet for employee retention. (Throwing money at the problem doesn’t actually fix things, who knew?)
We also need to take into consideration the current economic crisis. The tech industry is particularly susceptible to broader economic and industry trends…
