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You have not mentioned your skill set - so I cant answer if you will get a good raise. Its not a complete freeze on the job front. Amazon has currently 38k active job vacancies. You can probably wait and see how this recession spans out.

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I am a fullstack developer, more into backend and microservices

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People with 15-16L have received 40L in MAANG companies, for u it could be 50L and only skillset u need is DSA

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Data structures and algorithms

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Current company?

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