SBI Specialist Officer Manager Scale -3 vs Software Development in a Big Tech Product Company

Bit long Post but I really need help on this.

Please help me with your views in the comment section or at-least use the options to give your opinion.

I am a 32 years old Platform/SRE/DevOps engineer working with a top Software Product Company. I have spent ~9 years in the industry and I am quite enjoying what I do. In my current position, prospects 'appear' Great. I am in top 10% in my org. There are strong signs, I might be moving up the engineer ladder in August.

I also recently appeared for an interview for SBI Managers Post at Scale-3 level in their Digital Products Domain. The reason of me applying was job security and some idea of how product management works. I thought that I would survive the job market turbulence and then will return back in Engineering or Product Role when the dust settles down.

I got the offer from SBI. However there are a few considerations that are making me think about my decisions:

1. Work Life:

Cons: Bureaucracy is something I am worried about. Your senior is your God. I have heard stories where people had to take a stab for their immediate boss (who are quiet grumpy). If your relations go off with your boss, you are doomed because higher management can't care less.

Its 6 days working and you have to spent 8 hours in office. If we bring travel in the consideration, make it at-least 10 to 11 hours a day with no flexibility.

As far as I have heard, the pressure is crushing if you get a posting in the tier-2 city.

It would be a big shift for me working 75% from home.

2. Career Growth

I checked with some of the people working in the same role in SBI. They mentioned this role won't be anything like product managers in private sector. Mostly it would be just paper work with higher ups correcting your English mistakes and asking to reprint the document. I don't believe that after working and travelling for 10 hours everyday I would have much left in me to work for my personal growth.

3. Money and Perks

In terms of Money, I would have to take about 30 - 35% cut on my current salary. With 3% increment per year in the basic salary.

In terms of perks, I will get lease for house in the city where I am posted which is 45K in Mumbai (where I am most expected to be posted.) To the best of my research, I will have to put another 10-12k from my pocket to get a decent place to live. I will also get a medical insurance which quiet great. I have heard there is no rigid upper limit on the coverage. Out Patient benefits would be covered. Housing loans would be at 5% simple interest.

4. Job Security SBI is pretty solid in terms of Job security and it's almost a certainty that I would not lose my job there till I am 60. My current job in Big Tech on the other hand is quiet volatile with news of high layoffs every now and then. With so much happening in AI and Global Politics, it worries me some times.

5. My Wish I really enjoy engineering, I am doing good in my job. To be honest, I do not have a lot of things in my life to be happy about - but my current job is one of them. I am climbing ladder in regular intervals. I have spent good 8 - 9 years in the industry. I do not want to leave here. I think my life will become very mechanical in SBI.

But also I am being a bit skeptical if I am making a wrong choice of staying in a sinking boat (Considering AI and Market Volatility)