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Nikhyl Singhal
@nikhyl
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🎙️ New Skip Podcast: "Founder Mode" isn't just for founders! I chatted with @shreyas about why managers should embrace founder mode too. In fact, being in the detail, prioritizing what matters most, and having an opinion are keys to your joy and success, regardless of title. Check out the podcast episode here:
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Each founder is different. Sure, you need to remain engaged in the business and not outsource it. But not only is founder mode hard to learn, most founders can't manage 20 directs, be in every detail, hire when they need help, and scale the business simultaneously. If you are a founder, don't forget your strengths. Keep flexing your superpowers and delegate the other areas by hiring exceptional people. But keep those folks accountable, ensure you are staying engaged and setting the standard of excellence.
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I wanted to update this tweet on compensation to address comments and questions, clarifying a few key points. My past Skip podcast episodes and articles on compensation aimed to shed light on the dynamics I've observed. People's reactions, from surprise to excitement or even anger, emphasize the importance of understanding these numbers. [Importance of Total Annual Expected Compensation] It's crucial to note that these figures represent total annual expected compensation, including equity. Sharing cash salaries alone wouldn't provide a complete picture. [Top Performers and Top Companies] Top performers, top companies, and leadership roles offer significantly higher compensation than the average. This is crucial to understand. Joining and excelling in these companies can lead to incredible compensation and impactful product contributions. [Why Are These Numbers High?] The numbers I reference are from top companies that attract and afford top talent. These companies believe that hiring top-tier individuals acts as a force multiplier. Numerous companies employ PMs with compensation in this range, resulting in thousands of roles. You are entitled to your opinion if you believe these so-called elite candidates are undeserving. Many successful companies have thrived without recruiting this cohort. My goal is simply to provide an explanation of the market dynamics. [Clarifying Mistakes] I acknowledge that the teaser video and chart lacked context found in the podcast. I apologize for any confusion caused by the title "Salary" instead of "Total Annual Earnings." I'll also correct the misrepresentation of "entry-level" and provide a clearer range for solid ICs. I'll update the table in the video shortly. [Interpreting the Data] If you seek average numbers or early-career compensation, don't use this data. If others' higher earnings frustrate you, it's best to disregard our discussion. Look for resources on geographical averages instead. If you believe you're top-tier talent and underpaid, there are a few possibilities: (a) We may disagree on the data. I've consulted 50 professionals, all considered elite, who confirm top market numbers. (b) Your company can't match these levels. Consider seeking opportunities in top-tier companies, even remotely, and challenge yourself. (c) If you're not yet elite, my goal is to help you advance and increase the number of elite players in the market. Improve your skills and find the right role for your potential. Tech is just getting started, and it's never too late to realize your maximum potential. [Conclusion] Building an elite PM career comes with substantive compensation. Not everyone needs or desires to be included in this elite group, but if you aspire to be, I hope this information helps you realize your dreams.
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Top-tier includes big tech brand names (MAGMA). But any company that attracts people out of these companies pay this, as nobody leaves those companies certain they will lose money. Many venture-backed startups offer attractive equity packages that are worth similar numbers (as long as you agree with their valuation assumptions).
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Great point and I should be a bit clearer. The reason I use expected value of earnings and not just cash is that from IC to manager to director to VP you tend to see your equity move from 10% to 25% to 50% to 90%. And people assume that equity will rise and become liquid, hence the numbers really pop as you get to leadership.
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One myth is that founders work way harder than executives in larger companies, who have "cushy jobs". I have found both are intense, but bigger companies require more time while startups create more personal stress. My recent Skip article focused on how to choose the right stage of company if you are an executive (especially a product manager). And it details how to think about startups, debunking some common myths around the obstacles in founding a company.
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In my latest Skip Podcast, @markiewagner and I talked about her inspiring childhood, the importance of choosing good career quests, and the future of AI. Fun conversation with an inspiring leader!
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