After the recent layoffs from companies like FANG and other high pay master org. i don't feel like applying or getting referred to these companies with high package and lack of job security . I feel comfortable at 16 lacs p.a in a service based company having 9 years of experience ( 5 yrs as cloud engineer). Am being stupid or its a wise decision considering today's market. ?

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They'll get severance higher than service company comp. Also they can stay out of job for a yr without worrying about finances, & still get back in industry.

Job security is an illusion in service companies. You are thinking stupid, that too at 9 yoe.

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As far as I know, there is no severance package in most of the service based company

Having a salary of 16 LPA is sufficient for a peaceful life. Avoid getting caught up in the pursuit of excessively high packages, as it often results in sacrificing work-life balance. Instead, prioritize spending quality time with yourself and your family, as that is all that truly matters in life.

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It's all about what you think and are comfortable with. If you are going down this road, stop comparing your salary etc with your peers and you will be at peace.

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Don't think that Service Based companies dont do layoffs. They pay their employees really less and still they do layoffs.

So if you are thinking about being service based companies then its really not good.

If you are thinking not to switch for next 2 years due to recrsion thats a good decision.

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In some service based companies client simply shunted their project stating funds issue and that was considered a stable project.

In product based and service based both PIPs are there from really long term. Its just that right now there is a huge funds shortage everywhere so you are hearing it more.

Now, these are my perspectives if you think you are in a stable project and you have a secure job then thats really good.

I have seen many people getting lay off in service based as well, so job security in service based is complete myth

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Bro. Severance pay of 3 months you get from faang. What else do you want?
Product based company's 3 months salary is 5 months salary of service based company.

My suggestion is upgrade your skills .. bring cloud engineer , it surprised me your way of thinking..
I believe you are in comfort zone and does not want to take risks anymore in life ..

In private sector, no company can give job security. It’s a myth.

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