In recent years, the product management (PM) pipeline from top MBA programs has changed significantly. Pivoting into the function without engineering or prior PM experience has been incredibly difficult, and FAANG companies are no longer hiring PM candidates en masse. 

Is the PM pipeline actually dead… or do MBAs simply need to adjust their targets?  

Recently, we connected with Maureen May, head of Employer Relations & Recruiting at Carnegie Mellon Tepper School of Business, for her take on the PM market. 

May shared that "The PM function unfortunately has been flooded in the job market with an overabundance of talent, due to the tech sector mass layoffs."  

In other words, if you're an MBA candidate aiming for a PM role at a FAANG company, you're competing against thousands of experienced PMs who have been laid off from those exact companies. The odds aren’t exactly in your favor.

However, that doesn’t mean the path is completely dead. In fact, the best PM opportunities right now might not even be in tech. May notes a gap between where many MBA candidates focus their searches and where opportunities are currently available. 

Big Tech PM hiring processes are incredibly competitive. However, there are entire industries eager to hire people who can bridge business strategy and tech implementation.

“MBAs would benefit from considering implementing their PM backgrounds within industries outside of high tech,” May explains. For example, manufacturing companies building the future of robotics and automation need PMs who understand how to bring products to market. Additionally, traditional banks trying to compete with fintech disruptors are also hiring technical talent in droves. Finally, industries undertaking digital transformation initiatives need people who can manage complex product development. This includes consulting, but also expands beyond the industry. 

If you’re looking for green field opportunities, these are the pockets to consider for PM roles. Also, these hiring processes will typically have less competition than those at Big Tech companies. 

Technical experience and an education from a top MBA program actually give you more of an advantage in non-tech industries than they do in tech.

“Carnegie Mellon University has always been thought of as a high-tech player across the world,” May notes. "Many of our MBAs come from engineering, IT, and computer science-related undergraduate degrees and / or experience that they can leverage to set themselves apart in the competitive PM marketplace."

In the tech industry, an engineering degree could put you on an even playing field. However, in manufacturing, financial services, or other industries, your qualifications could help you stand out more effectively. 

“What I hear from hiring managers and recruiters are requests for resumes of former engineers or technologists of some variety – either by undergraduate majors or industry experience – or, ideally, both,” May explains. “There is more value and respect placed on PMs who understand the engineering and science behind various teams across an enterprise. Therefore, candidates who have that background and leverage get the interview and do well through the process.”

In sum, if you have any technical foundation, seek out opportunities where you’re not competing with others with the same background. Instead, look at how this can help differentiate your candidacy. 

When it comes to PM opportunities, tech often grabs the headlines, but compelling opportunities may exist elsewhere. For example, what about manufacturing?  

“An area that has fallen out of favor that MBAs should probably revisit is the manufacturing space, as the goals to bring it back domestically continue. That is where a ton of innovation is and will be happening via robotics,” May says.

To be clear, May is not talking about overseeing a factory floor. Instead, she’s talking about implementing robotics and automation systems, building supply chains, or bringing AI into physical products.

“If implementing new technologies excites you, you should be considering an industry that contains many conglomerate organizations that you may not be familiar with… but are manufacturing everyday products you are quite familiar with and can't live without,” she adds. 

May also highlighted two Pittsburgh events: TechFest (hosted by Tepper in partnership with the Pittsburgh Technology Council) and Discovery Day (hosted by the Pittsburgh Robotics Network). Both events showcased how innovation in robotics and automation is touching every industry.

These developments and innovations aren't just happening at Meta or Google – they're happening at companies that simply aren’t on most MBAs’ radars. 

So, while hundreds of MBAs compete for the same PM jobs, manufacturing and robotics companies also need great candidates. If you have a tech background and PM skills, you could be exactly what they need. 

May describes financial services and fintech companies as “leaders in actual and effective tech and AI implementation.”

“A while back, I read this article in the Wall Street Journal – 'Why the Coolest Job in Tech Might Actually Be in a Bank’ – and it struck me because I am seeing known, branded banks and lesser-known fintech companies recruiting in droves for STEM talent,” she explains. 

The challenge is getting MBAs to see these roles as desirable. 

Traditional banks are often perceived as “old school,” although they’re often doing cutting-edge tech work. Fintech companies are perceived as more relevant…. but they often have tough hiring processes. 

For PMs, these industries offer opportunities to work on products that are transforming how millions of people manage their cash, payments, lending, and investments. The impact is obvious, the technical challenges are substantial, and the competition looks different than the typical consumer tech roles.

May says that technical skills alone won't differentiate your candidacy – even in non-tech industries. Instead, she says “These companies need quantitative analytical skills in tandem with strong interpersonal skills and the ability to tell a story through data and sell your ideas.”

May also adds: “At the Tepper School, we continue to emphasize intentional communication and leadership skills and provide experiences to hone those, pushing our MBAs to take on roles to gain these highly sought-after skills.”

If you’re targeting PM roles specifically, this means that you can explain technical trade-offs to non-technical stakeholders, align engineering teams with a company’s objectives, and convince leadership to invest in your product roadmap and vision, among other things. These skills matter everywhere – but they matter even more in industries where fewer candidates have them.

Do less of this: 

Do more of this:

Maureen May oversees the Employer Relations & Recruiting Team at CMU Tepper's Masters Career Center. She has more than 30 years in higher education career services, with business development experience across all industry sectors. May now focuses on connecting MBA candidates with market opportunities.

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