馃攳
LESS HOURS, HIGH PAY: This is the Coolest Job after MBA - YouTube
Channel: Shweta Arora
[0]
You like everything about consulting
[2]
except that it asks for a lot of working hours?
[4]
If that's the case, then the job I'm gonna share about
[8]
is going to be the best option for you.
[10]
It includes all merits of consulting
[12]
in fact, you'll be acting like an in-house consultant for your firm
[15]
but at the same time, the working hours are less
[18]
and you'll not be required to face the clients.
[20]
This is actually the coolest job after MBA
[23]
which is the first preference for many students
[26]
and a lot of others keep it as their second preference.
[29]
That's product management.
[30]
This video will discuss AtoZ of product management
[34]
in fact, I've added all questions in timestamps
[37]
that came to my mind and that might help you
[40]
So, use the timestamps if you're not a beginner.
[42]
And if you're a beginner, then watch this video carefully.
[45]
Before delving deeper, let's understand what a product manager does?
[49]
When I asked this to my batchmate, he said
[52]
there are 3 important stakeholders for a product manager.
[56]
Using this model, you can easily understand
[59]
why a product manager is needed in a company?
[62]
Those 3 stakeholders are:
[64]
Business, Customers and Tech.
[66]
The most important part is Tech.
[68]
Let's take an example of a business that has an app or a website
[74]
the technology behind these would have been developed by someone.
[80]
They're called Developers.
[82]
The developers have complete technical knowledge
[85]
but they don't know enough about the customer side
[88]
or the business implications.
[90]
When you join a company as a product manager,
[93]
you strive to explain to the developers
[97]
which features are required from customer POV?
[100]
Then the developers suggest if it's technically feasible,
[105]
and if yes,
[107]
then how long will it take?
[108]
Basis that, they'll create a product sample that we will discuss later.
[114]
So basically, as a product manager,
[116]
your job is to improvise your app and website
[120]
and to grow your business
[124]
by suggesting features or getting it developed from scratch
[129]
from your developers.
[131]
You deal with a technical team
[133]
there are other teams as well we're gonna talk about
[137]
majorly you talk with the developers and UX designers
[141]
what to make so that your business grows further.
[145]
Let's first understand where this starts from.
[148]
The first touch point is the customer.
[150]
A product manager understands the needs of the customer.
[153]
He uses surveys, interviews & feedback to find what the customer requires.
[157]
Then he suggests the feature to the developers
[161]
and asks how long it will take to implement it?
[167]
Also, is it even feasible?
[169]
Developers and designers implement the feature and then
[173]
they come up with MVP - a minimum viable product.
[177]
The MVP is then tested in the market
[181]
among a sample - also called as beta testing.
[185]
Then, its response is monitored.
[187]
Then the feature is evaluated on metrics -
[191]
DAU, MAU, engagement rate, churn rate, etc.
[197]
there are many such KPIs
[199]
that are evaluated by a product manager
[202]
to understand the business implication
[205]
and then he tried to scale it up.
[208]
This is like a project a product manager has.
[212]
After all this, again customers' feedback is taken
[217]
to evaluate the use of the feature.
[219]
For this, coordination with marketing & sales team is required.
[225]
A product manager collaborates with other departments, so this is
[230]
a cross-functional role
[232]
but at the same time, there's no client facing
[235]
everything is mostly in-house.
[239]
That's a major difference b/w product management and consulting.
[242]
But it is similar to consulting - you have a problem and you're solving it
[247]
or you're improving a situation.
[249]
The only difference being, here you improve the product for your own company.
[255]
Hope by now you've understood what product managers do.
[259]
This of course has a lot of other branches.
[263]
You can explore them upon joining a company.
[266]
An important question here is - do you need tech knowledge to be a PM?
[271]
The answer is yes, you need tech knowledge to be able to understand
[276]
the technical limitations of your product
[279]
e.g. if you want to improve a feature in your app,
[284]
if you are aware whether it's feasible to do so,
[289]
you'll request the same to developers accordingly.
[292]
Else, you'll bug them with lots of demands
[296]
and you'll not be able to evaluate if their reasons are fair or not.
[303]
A product manager requires tech knowledge because
[306]
he works with a tech team.
[308]
If you know the technical limitations, leverages,
[312]
the backend system processes,
[315]
system design,
[317]
then you can take better decisions
[319]
and explain to your team better
[322]
what your business requirements are, and what their technical limitations are.
[326]
An example my batchmate shared in this regard was
[328]
if you add a product to cart on Amazon app,
[332]
and then head over to the payment page,
[335]
now if there needs to be a change on the payment page,
[338]
then you may wonder that if I change something here,
[342]
will it impact the other pages of the website/app?
[345]
A tech student can understand the backend design
[350]
so will it impact other pages or not
[352]
but it will be difficult for a non-tech student to talk to the developers.
[358]
So, there is no denying that tech folks are preferred for PM tech
[363]
but now a question comes that can non-tech students not make it to PM-tech?
[367]
Of course, they can! It's not a problem
[369]
but their path is slightly difficult.
[371]
Since you are coming from a non-tech background,
[374]
you must acquire tech knowledge
[376]
before you get into this role.
[378]
It's not only important to acquire tech knowledge using books & courses
[384]
(I'll share all these resources)
[385]
you also need some experience
[389]
in a related domain
[391]
to be able to make it to a PM tech role.
[393]
Listen to this important point attentively.
[397]
If you're a non-tech student, you MUST acquire related work-ex.
[404]
Even among tech students, work-ex folks are preferred.
[411]
In order to compete as a non-tech student,
[415]
you must have related work-ex.
[418]
In order to get into tech, you need min 2 years of tech experience.
[424]
Look for these relevant fields -
[428]
1. Product Analytics
[430]
2. Project Manager
[432]
3. Associate Product Manager
[434]
4. Associate Project Manager
[436]
5. Project Coordinator
[438]
6. Project Analyst
[440]
These are a few roles in product & project
[444]
that are entry level base roles for PM tech.
[448]
They will surely help you to get into PM tech.
[452]
7. UX Design can also help
[456]
My batchmates who were freshers had to get into non-tech roles in tech firms
[462]
and after working for 2 years, they were able to switch to PM tech.
[466]
So, don't go as a fresher.
[469]
If you want a PM tech job after MBA
[472]
then you need tech work-ex first.
[475]
I asked on LinkedIn if there is any non-tech PM after MBA
[482]
A lot of people replied
[484]
and one of them shared that
[487]
she was a Zoology student who got into PM tech
[492]
because she did a summer internship in UX role.
[495]
Make sure to do a summer internship or get work-ex in PM tech.
[501]
Now you may ask how to get them?
[505]
Are there any certifications/courses/books that may help?
[510]
All the resources I'm sharing are recommended by either my batchmates
[514]
or by the folks over LinkedIn.
[518]
There is a book used on our campus during summer placements
[523]
it's called Tech Simplified.
[524]
I'll add its link to the description.
[527]
Every person reads this book
[530]
if they want to get into PM tech.
[533]
For certifications and courses, my batchmates had a different perspective
[538]
than the folks on LinkedIn.
[541]
Those on LinkedIn shared 3 certifications that I heard for the first time.
[545]
You can explore them, I personally don't know anything about them.
[550]
I'll add their links to the description.
[554]
The course that I had heard of was Udemy's 101 PM
[560]
I'll add that link to description too.
[562]
This was also shared over LinkedIn.
[564]
My batchmates suggested something else.
[567]
According to them, courses don't have as much value
[573]
as work-experience.
[574]
If you come from a non-tech background,
[577]
every company will ask for experience over course
[583]
because doing a course doesn't justify practical knowledge.
[586]
You can certainly use these courses for getting work-ex.
[592]
But, don't expect a job after MBA unless you have prior related work-ex.
[599]
Other than this, there are 3 case competitions organized
[603]
that offer PPO to the winners
[608]
you can take a part in them, just note their names.
[613]
1. Microsoft 2. Flipkart 3. Sprinklr
[616]
These 3 case competitions are organised every year.
[618]
Now, let's discuss about the PM tech placements at a B-school.
[624]
I'll share the IIM-A placement report
[629]
where you'll be able to see how much PM companies pay
[633]
Max CTC in our batch was 35LPA
[638]
its average package is almost at par with consulting which is 27-28LPA
[643]
but the amazing part is its growth.
[646]
After 2 years, your avg CTC is 40-45LPA.
[651]
Its hiring is generally done is Laterals.
[655]
At IIM-A, someone with 22/24+ months of experience
[663]
is also eligible for lateral placements.
[665]
Only a few companies hire in laterals they may not come for finals.
[671]
They need someone for higher mgmt positions or technical jobs.
[676]
Here the package is negotiable and many companies offer PM tech roles in laterals.
[682]
Many students get 40-45L package here
[686]
not necessarily in PM-tech roles
[688]
but in related tech roles.
[690]
The popular companies that people target are
[694]
Microsoft, Sprinklr, Flipkart,
[696]
Confluence, Amazon, Google
[698]
there are many interesting roles offered by these companies
[703]
and most of them require work-ex.
[706]
So, prepare accordingly.
[708]
In PM Tech, working hours are comparatively chill
[712]
the work is equally challenging like consulting
[716]
but working hours are relaxed, it is a within-company setup
[720]
so it is chill as compared to consulting.
[724]
There's no travelling, it's cross-functional role.
[729]
So, it is surely interesting.
[731]
Finally, what are the rounds conducted during PM tech placements?
[736]
The first round is Case/Design.
[739]
You have to suggest features/design an app basis your customers' requirement.
[747]
You use flowcharts to explain the app/feature design
[753]
you explain customer flow, path, challenges
[759]
to implement/scale, possible solutions
[764]
this is a case discussion round.
[766]
To prepare, people do the same prep as consulting.
[772]
Second round is technical which is not conducted by some companies.
[777]
Some companies like Microsoft conduct 2 technical rounds.
[780]
It depends on company's requirement.
[785]
In that, they try to understand your tech knowledge like systems, design etc.
[789]
For now, you just need to acquire technical knowledge and experience.
[796]
You can definitely enter PM tech roles basis that.
[798]
Do check pinned comment & description for other videos on other fields
[807]
you should learn about other fields before finalising any field
[811]
there are videos on consulting, finance, HR, marketing, do check them
[817]
and I'll keep adding more, so do subscribe
[820]
Thank you so much for watching this, guys!
Most Recent Videos:
You can go back to the homepage right here: Homepage