One of the great things about product management is that you get to work with--and see the pros and cons of--every department in the company. While product managers often go up the ranks to VP and COO as you describe, some see what they need on an entirely different path. Many product managers end up in sales or customer support.

One friend went from product management to support to marketing to engineering. I advised her to get some focus in her career but then I had to eat my words when she became president; no other candidate had experience in every department.

Many presidents, COOs, and CEOs are former product managers; in product management you learn to lead rather than mandate. 

And that's the best type of person to work for!

Answered by Steve Johnson