Disclosed are systems and methods for efficient power management for storage devices. A method includes receiving a request to transition a flash memory to a first stand-by mode, wherein the flash memory comprises a plurality of dies. The method also includes causing one or more guard dies of the plurality of dies to transition to the first stand-by mode while causing one or more other dies of the plurality of dies to transition to a second stand-by mode, wherein the second stand-by mode is configured to consume less power than the first stand-by mode. The method also includes receiving an input/output (I/O) request for the flash memory. The method also includes causing the I/O request to be performed on the one or more guard dies that are in the first stand-by mode but not in the second stand-by mode.