I spent three months collecting PM offer data from people in my network because I was interviewing Microsoft and couldn't find anything current. Might as well share it.
Microsoft PM leveling is different from SWE. Entry PM is PM59, mid-level is PM61-PM62, senior is PM63, and Principal is PM65. They also have SDEPM (more technical) and GPM roles.
PM62 data (3-6 YOE equivalent): Base: $152k-$162k Bonus target: 15% RSU: $200k-$260k over 4 years Sign-on: $25k-$40k
PM63 data (senior, 6-10 YOE equivalent): Base: $175k-$188k Bonus target: 15% RSU: $320k-$420k over 4 years Sign-on: $40k-$60k
My own offer was PM63 in the Azure org, base $181k, RSU $380k, 15% bonus, $50k sign-on. I had a competing offer from a Series C startup which helped push the RSU up from the initial $340k.
A few things I learned during the process. First, team matters a lot at Microsoft for PM comp because the equity refresh you get in subsequent years depends partly on your performance score and partly on the org budget. Azure and Windows/Devices tend to have healthier refresh budgets than some other orgs. Second, the PM loop at Microsoft is specifically heavy on the 'how did you measure success' question. If you can't articulate your north star metric and how you instrumented it, you're going to struggle in the loop even if your product intuition is strong.
The PM interview loop was five rounds for me: two product sense rounds (build a product for X, improve product Y), one metrics round, one behavioral round (leadership and conflict), and one cross-functional round where they simulate working with a skeptical engineering team.
Total timeline from recruiter screen to verbal offer: 8 weeks, which felt long but apparently is normal for Microsoft.
Anyone interviewing for PM63 or PM65 who wants to swap notes, feel free to ask.