PM Compensation In 2024: Meta Pays At The Top Of The Market
This is what the top end of the PM market pays in June 2024.
And Meta is hiring. Even at senior levels. For instance, Esther Crawford, famous for sleeping in the Twitter offices when Elon took over, just joined as a Director.
As one of the few big techs hiring, I had to learn more. I talked to 12 people about the PM process to create today’s deep dive guide to getting a PM job at Meta.
Check out the complete guide here.
Here’s what I learned specifically about the state of hiring and compensation:
1. The company is massively investing in AI and AR.
Bolstered by its rising stock, it’s back to spending. But more in IC-focused roles. Word is, the VP role is actually currently being pinched.
2. Compensation growth hasn’t slowed down.
Despite all the efficiency, compensation for remaining employees continues to rise. Here’s the full detailed breakdown on the state of TC. These are the midpoints. So there’s a range around this for every role:
IC Compensation
- IC3 (RPM): $130K salary, $25K stock, $12K bonus
- IC4: $172K salary, $30K stock, $13K bonus
- IC5: $208K salary, $121K stock, $24K bonus
- IC6: $246K salary, $310K stock, $49K bonus
- IC7: $279K salary, $599K stock, $67K bonus
- IC8: $350K salary, $610K stock, $175K bonus
Managerial Compensation
- M1: $246K salary, $310K stock, $49K bonus
- M2: $279K salary, $599K stock, $67K bonus
- D1: $350K salary, $610K stock, $175K bonus
- D2: $369K salary, $1.74M stock, $135K bonus
These are all up more than 10% from 2 years ago.
Putting it all together, these are my takeaways:
- Now is as good a time as any in the last few years to pop your head back up.
- Equity is why it pays to work in big tech. Meta stock is up 88% YTD.
- PM doom and gloom is overstated, and salaries continue to rise.
