The Hidden World of Product Leadership Job Search
The product leadership job search is completely different from the IC PM search.
Colin Lernell (and 3x Sr Dir of Product) and I talked to:
• 7 external executive recruiters
• 2 internal big tech executive recruiters
• 2 VC talent teams
• And 10 CPOs and VPs
To learn these 5 things that you need to know:
To go deeper, check out our 20K+ word guide on all the details of how to execute on these learnings.
1. Less and less jobs get listed
Till the Group PM and Principal PM level, 90%+ of jobs are still listed on job boards.
But as you move even higher, those numbers start dropping considerably:
• 50–70% of (Sr) Director and Head Of roles
• 20–50% of SVP and VP roles
• <20% of top exec roles
This means that you have to change your strategy entirely.
FROM: Reaching out to listed jobs
TO: Finding unlisted jobs, and also becoming a magnet for one’s you don’t
2. There’s a huge difference between early product leaders and top execs
One of the biggest misconceptions is all levels of the product leadership job search are the same.
But it’s critical whether you are the top, number 2, number 3, or just nth product leader.
3. The process takes longer
While an average principal or Group PM role can get filled in 1 month, more senior roles take a longer time.
Companies might even take up to 6 months to hire a top product executive, even with the help of executive search firms and VCs.
4. Retained search firms and VCs drive placement at the top
The two channels that drive the most placements for the most senior roles are not applications or internal recruiters.
Rather, they’re personas most PMs aren’t used to: retained search firms and VCs.
So, how do you engage with these folks?
• Retained search firms: you want to build lifelong relationships with individuals at these firms, helping them before they help you
• VCs: you want to keep active relationships with top VC partners in your industry niche and the top VC firms
5. Compensation goes hyperbolic at the top
And it’s worth going after these gated roles (if you’re qualified). Because the compensation goes hyperbolic.
It’s that equity part, especially. Top executives might have cash comp of 2x Group PMs but equity worth 20x.
SUMMARY:
- Less and less jobs get unlisted
- There’s a huge difference between early product leader and top executive
- The process takes longer
- Retained search firms drive placement at the top
- Compensation goes hyperbolic at the top
