Finding skilled product managers is tough—demand is higher than supply, especially in smaller markets.

To solve this, Wise started a Product Academy to train new PMs instead of spending months searching for senior ones.

In this episode, we spoke with Kristóf Litavecz, GPM at Wise, to discuss:

* Why Wise built the program and its impact

* The ROI of training PMs vs. hiring senior talent

* 5 key hiring criteria used to select PM candidates

* The 700-applicant selection process and how only 6 make it

* A 3-step roadmap to becoming a PM

* And more

Some takeaways:

* The PM talent gap is real – Wise struggled to hire senior PMs, with some roles staying open for months. Instead of competing in a limited market, they launched Product Academy to grow talent in-house.

* Internal training can outperform external hiring. The academy invests in mentorship and structured learning, allowing Wise to develop six Associate PMs at a lower cost than hiring senior PMs.

* The hiring funnel is highly competitive. Wise receives 700+ applications per season, narrowing them down through structured home assignments, interviews, and scorecards. Only 6 candidates make the final cut.

* How Wise evaluates candidates:

* Step 1: Resume screening to check for relevant experience (not fresh out of university but with 2+ years in a related role).

* Step 2: Home assignment to assess structured thinking, prioritization, and problem-solving.

* Step 3: Final interviews focus on 6 key criteria:

* Communication skills – Can they present and defend ideas clearly?

* Problem-solving ability – How do they break down complex challenges?

* Data-driven thinking – Do they prioritize measuring impact?

* Passion & eagerness to learn – Are they ready to handle ambiguity?

* Customer focus – Do they think in terms of solving real problems?

* It’s NOT an internship—it’s a full-time role. Wise pays €3,700/month before taxes to ensure associates are treated as full-fledged team members.

* A proven roadmap to becoming a PM:

* Step 1: Start in an operational role (CS, sales, analyst) to gain company and product context.

* Step 2: Move to an execution role (project manager, sales engineer) to work on improving processes.

* Step 3: Get closer to product teams and transition into a PM role—or find a Product Academy program to accelerate the shift.

* Success is measured through tangible outcomes. Wise tracks the academy’s effectiveness using:

* Promotion rates – How many APMs transition to full PM roles within a year?

* Product impact – Are participants shipping meaningful products?

* Participant satisfaction (NPS) – Do trainees feel the program sets them up for success?

* Scalability – Wise refines and repeats the process for future cohorts.

Episode timestamps:

00:00 - Intro 00:58 - Why start Product Academy? 03:16 - Who can run Product Academy? 04:50 - Is it worth running Product Academy? 08:00 - Creating an appealing package. 3750 Salary. 11:30 - Do you have a scorecard to screen candidates? 14:48 - Is it an internship for University students? 18:12 - What do you expect from candidates? 18:50 - A 3-step roadmap to becoming a PM 22:03 - How did Kristof become a PM? 25:03 - An alternative way to become a PM 26:38 - AI applications 28:18 - Is program successful?

Connect with:

* Kristóf Litavecz LinkedIn - https://www.linkedin.com/in/kristoflitavecz/

* Nikolay Roll LinkedIn - https://www.linkedin.com/in/nikolay-roll/

Referenced:

* Wise Product Academy 2024 - https://wise.jobs/job/product-academy-associate-product-manager-in-tallinn-jid-814

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