I was a software engineer for 5 years and a year ago, moved over to being a product manager. In that time, I lead a team to deliver two new key products (the team is composed of about 5 engineers and 2 QA). When I was promoted/moved to product management, I received a $30K raise to go from $90K base to $120K base. My annual bonus last year was about $15K. I'm coming up on my annual review (mine are in the middle of the year as opposed to the end of the year) and I'm curious what raise I should try and negotiate for?

I've been doing my homework and was considering asking for a title change to Senior Product Manager as I think my experience as a software engineer is more than applicable. With that, I was thinking of targeting another $30K raise (so base would be $150K). Do you think that's too high, just right, or not enough? Curious what the community thinks. Thank you in advance!

For reference:

• I don't directly manage anyone (just oversee product teams but they individually report to managers)