PM can vary based on what the "P" stands for. Is it program, product, project, portfolio?
Microsoft pays their PMs (who are TPMs/PMs) on par as SWEs
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Principal Software Engineer TC~300K at Microsoft vs 600K at Meta. Is 300k pretty low for Principal scope?
TPM is technical, really. PM doesn't require that, yet some may have IC / engineering background.
What about pay?
Technical PMs get paid about the same as devs.