US PM hires down 48% since 2022, yet median pay climbs 14% to $250K
aakashgupta · x · 2026-11-04
Drawing on levels.fyi data, Aakash Gupta finds US PM hiring fell 48% since 2022 (from 21,811 to 11,414 hires), while median pay rose from $220K in 2022 to $250K in 2026 (+14%). Key driver is level mix: the share of super-junior L1 PMs dropped from 17% to 11%, and holding level fixed the jump is modest—L3 median rose just 4.5% ($306K→$319K). Data covers Feb–June US outside hires each year; 2026 is an early read and pay is self-reported.
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