Got an Airbnb PM offer last year, actually accepted it and have been here about 8 months, so I can give you a real data point with some context.
I came in as a Senior PM (equivalent to their IC5 band). No formal PM leveling rubric was shared publicly before I asked directly.
Offer numbers SF: Base: $195k RSU: $280k over 4 years ($70k/yr at grant price) Bonus target: 15% Signing: $30k (one-time)
Before negotiating, that was $185k base and $250k RSU. So there was room. The lever that actually moved was the RSU grant. I had an offer from another company at a slightly lower base but higher equity, and when I presented it they matched on equity.
A few PM-specific things worth knowing:
The loop is longer than SWE. I had a recruiter screen, then a 45-min PM screen with the hiring manager, then a full virtual onsite with 4 rounds: product sense, analytical thinking, cross-functional collaboration, and a leadership/behavioral round. That's 6 rounds total across about 4 weeks.
Product sense at Airbnb is on-brand. Every case I got was about the Airbnb product or an adjacent marketplace problem. Don't walk in with a generic CIRCLES method answer. They want to know you understand what it feels like to be a host or a guest, and that you have opinions about where the product should go.
The analytical round matters more than people expect. I got a data question about a metric drop in checkout conversion. SQL wasn't required but knowing how to structure a diagnostic framework fast was. I did practice SQL before the interview anyway, just didn't need it in the room.
Happy to go deeper on any round.