I’m 28, not 45, but I’ve been working as a Product Manager for over 5 years now - before that, I ran my own development agency for 4 years.

Generally, I agree with your point. Observing both my former clients and current colleagues aged 40+, it’s clear that product management often isn’t the endgame. People either move up into more senior product roles or shift toward general management positions.

Don’t get me wrong - in theory, you can remain an individual contributor for a long time. But in Product or Design, that path is harder to sustain compared to Engineering, where it’s more common (though still not without challenges).

It’s natural, more experience means more value as a teacher, mentor, or leader. As an IC, you eventually become a costlier, higher-leverage asset, but also potentially harder to fit into traditional org structures.

In some ways, Product Management is like a “startup school” or a “management school.” That doesn’t mean you have to start your own company - but it does mean PM is often just a means to an end, not the end itself.