Reality of Tech Jobs in Product Based vs Service Based Companies - What’s Better during Layoffs 2024

*****

Tech Employees in general and IT Employees in particular often think about how to get into product based companies from service based companies. Now the obvious question is that given the context of Layoffs 2024, in which we have seen FAANG Companies laying off employees, is it a good decision to switch from service based company to product based company? In this video, I have done an unbiased analysis of product based vs service based companies and which are better for Tech Employees and IT Employees during layoffs 2024.

Since we have seen Google Layoffs, Tesla layoffs, Meta Layoffs or Facebook Layoffs, Amazon Layoffs, and other layoffs within Product Based companies, the switch from service based company to product based company has become a bit risky. But at the same time TCS layoffs, Infosys layoffs, WIpro layoffs, and other IT Layoffs and Tech Layoffs 2024 news have made the IT Employees more anxious than before to switch from service based company to product based company.

Before you figure out how to find product based company jobs, how to crack product based company interview, how to join product based company, and how to get into product based companies from service based companies, you first need to know the product based vs service based companies difference. The difference between product based company and service based company will help you understand which sort of company you should work at in the future. This video will also give you an idea about startup vs product based company or MNC vs product based company as well. In short, you will understand what Tech employees in general face in an IT Service company like TCS, WIpro, or Infosys compared to a FAANG Company.

IT industry in India has changed a bit in the last few years however, many problems facing the work life balance in IT industry still remain. The reality of IT jobs in india is that you will face a two manager setup which increases pressure. On the other hand, the reality of FAANG jobs is that you will not have a lot of stress but layoffs 2024 do create a huge problem for FAANG employees. For Tech Employees or IT employees this video will give a clear idea about the product based vs service based companies and also if they should switch from service based company to product based company in 2024 depending on their needs. Hope you find this video valuable, see you in the next one.

*****

About Me

I publish meaningful and valuable content on this channel. My aim is to make business news more accessible and easy to grasp. If you find my videos informative and insightful then make sure to subscribe and leave a comment. I’ll see you in the next video

*****

Chapters

0:00 - Intro
1:08 - Stress in Product & Service Companies
3:30 - Becoming a Manager
4:34 - Learning about Industry
5:52 - How to Crack Product Company Jobs
7:10 - Drawbacks in FAANG Jobs
9:16 - Outro

[mardukhorus]

Please don’t give false hope work in India product company is same as IT service company

[porusmehta]

Hi @PavanSathiraju please be more specific. If you are in a big products company like Salesforce, Microsoft or Google you may be stress-free, but if you are working for a startup, or a products company which has say 1000 or 2000 people it is definitely not stress-free. There is pressure to deliver all the time, especially at the end of every quarter so that revenue targets are met. So please do not generalize and give young people the wrong idea. There can also be stagnation in your IT skills. Typically products companies will create a platform based on say Java or Python and use it for 5-10 years. They won't shift to newer technologies as quickly. So you need to cover these aspects as well.

[gracys]

Not having job security is more stressful than any other reason.. So I would prefer service company and for extra money I would try some investments..

[aarthisundar]

I have been working in a product company for 13 years, even there trainings for non development topics is not available for everyone

[Beinghuman]

True totally relatable I was working for product major in US and if their product revenues are going down you will be first to be laid off .

[cmxxelm]

I just resigned from Accenture yesterday for all these reasons you mentioned...hell yeah....

[SanjeetPrasad]

Product company have even 2-3 managers, for example working for qualcomm, their end client is apple, samsung, you need to handle client manager of apple, samsung in parrellel as well plus qualcomm

[bronwankhan]

The video gets a big thumbs up 👍 from me, as this is how most people feel nowadays in office jobs, with all these strict requirements and communicating in and out of traffic for hours before and after work. Majority of the time not having a proper social life during week days 👍best to get something satisfying outside of 9-5 is real rewarding

[honchoabhi]

Such a relatable video — rarely anyone would dissect such critical issues with such granularity.

Many thanks for this — Sir.

[vikasteggi]

What a Civil Engineer should say now ?? 😅 No Stress-free work, No work-life balance, No-Job security, No timings, No-career development, No respect, No-salary increment 😂

[abhinavmathur]

So perhaps one thing I find not correct is that you mentioned that business understanding is lacking in Services. My experiences have been contradictory, you have a full on understanding of processes, people and interpretations etc in the analytics world. In fact in Analytics the learning’s perhaps are higher on the services side than the product side

[sowjanyap]

FYI.., for product based companies too most of the development team is offshore only.

[alphago]

An Insightful video, loved it. I am pursuing my MS In PM from USA.

The emphasis on networking is so true!
Skills+Network= Hyperloop Speed towards Dream Role😀

[govindachate]

I'm working for Product based company, hell lot of layoff is going on. I joined because of job security and now there is layoff going on.

[phssyk]

Hi Pavan, there are a lot of inconsistencies in your video in terms of the information, please research a bit more on the product companies. Some product companies like Amazon are know for their stressful and bad culture. Here are my points based on what you are mentioning:

(1)Stress - Some product companies have a high amount of stress, some probably not - but you can't attribute stress to the product vs service division (2) Stakeholders : even though you are not reporting to them, they provide feedback on and you have to respond to some of that feedback - not all managers protect you (3) Product companies have engineers doing oncall in rotations where they get paged middle of nights (4) In service companies - you are mostly talking to one person overseas, whereas in product companies with distributed teams you have multiple people you talk to overseas which bring in stress (5) In product teams, not all teams are equal- the ones in India are subtly discriminated - they are the ones who have to attend night calls. (6) For a particular charter - teams are not spread across the globe (7) People management skills in product companies - agree that product companies want more people management skills, but it is not based on certifications, people are allowed to try the role - after this I stopped watching the video

[ranganaa]

Ahh.. I dont completly agree to it. I am in a product company. More in a product ops role, stress is high, and I the only one 1st level support to clients and my stakeholders. Is networking still valid in my case?

[rahulthaware]

i work in a product company, worked in Service companies before…not much difference as far as work pressure is concerned, but Product is lot more better than Services in every aspect, no doubt.

[Prasaddongare]

Im from IT service sales... Plz guide - should I switch to product sales??

[fkwdqtz]

I think in general world is going through lot of dynamics and tough times and companies are scrambling for profits .
I work out of germany for a reputed retailer which is gloablly renowned but still the work is crazy and slowly we move towards more and more people really being productive and doing actual work rather than just manage people.

So if you develop, do you develop efficiently .
If you do sales, do you do sales efficiently are in the top 1 % ?

[humanthought]

If all the IT engineers refuse to work beyond work hours, which client can treat themselves as God?

Lesson for IT companies: STOP being selfish and selling yourself for cheap terms and conditions just to get a contract. That creates a very bad market competition.