What is the value of a product manager and how does one increase his worth as a Product manager?

Product & Design
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#1

IMPORTANCE
Each has its worth in its own right. I’ve played both roles. Skills in both areas complement one another. And both positions are more valuable to your CV than they would be otherwise.

ESSENCE OF MARKETING
Marketing has traditionally been viewed as a cost center, which is still the case today. Even when marketing has demonstrated a high level of ROI; as a result, marketing will have lower salaries and value in a company.

PRODUCT MARKETERS
And as a result, product marketers may appear to be less valuable than product managers.

PRODUCT MANAGERS

  1. Product managers are frequently regarded as the product’s CEO and, as a result, are more highly valued.
  2. The PM is responsible for a product’s success.
  3. A failure is also an option.
  4. The PM does not have the authority to shift failure blame to a weak sales team or a weak marketing team. It’s their fault.
  5. The same is valid for success. As a result, it is natural that they will command higher wages.

To be honest, it is entirely dependent on the company, their needs, the right fit, and your desires.
PM rockstars and PMM rockstars will always exist. And rockstars will always earn far more than non-rockstars.
As a result, no. PMs do not have a higher value than PMMs.