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Hi Guys...
I have a total of 5.5 years of experience with current CTC as 11.5 lpa.
I have a offer from Infosys of 17 lpa
But my company wants to retain me and they are giving me an opportunity for Canada onsite in return of retention(no raise or bonus)
Please suggest me, if i should take the onsite opportunity or keep looking for counter on my current offer.
I have 70 days of Notice Period left.
Tech stack- python/ AWS/ data engineeringDeloitte
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Im not searching for a new job but an acquaintance reached out about a similar role at a similar energy company.Turns out 2 ppl threw my name in the hat. I looked into it and the position was posted 2 weeks ago.Their director wants to meet.I bet pay is one of the first things to be discussed so that no one’s time is wasted.Am I crazy for not wanting to entertain it for less than 20-25% base pay increase?Is it selfish to ask for more? I’m sure most salary conversations end in negotiation anyways?
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Absolutely yes. Loyalty no longer pays and hasn't in a long time. Companies pay more to attract talent than they do to retain employees. Job hopping every couple of years is the best way to get a big salary bump. However, the current state of the job market makes it more difficult.
This is true at all levels and is considered the norm. You are actually looked down upon as unambitious and sometimes as foolish having not 'Leapt'. There are extremely rare instances where private companies do obviously retain and reward those that are in the perfect fit. Corps when its time will even cut you, hold off a few months w/ people covering for you, then interview a replacement, maybe. The cost saving for 2-6 months without you pays for a replacement.... Unless another LOYAL employee has taken all of your work... hoping they will be the magical one recognized. HOP!
In the about 6 years since I graduated college, I've hopped jobs every 1.5-2 years, 4 jobs (had various promotions within each company) 3 companies, and have increased my salary by about 46%. Seems to have worked okay for me so far. 🤷🏼♀️
Bowl Leader
Very nice! I went from 45k to 80k in two hops!
Loyalty rarely pays. I stayed too long at one job and fell behind. When I finally moved, I made up for lost time fast. The real question is: what’s the cost of staying too long somewhere that doesn’t pay what you’re worth? If your story shows growth and intent, no one’s going to label you a hopper.
Bowl Leader
Very true! Loyalty does not pay my bills!
I’ve seen that staying in jobs in a long time has not benefited me financially for what that’s worth. If I could go back I’d have changed jobs more often!
Bowl Leader
I’m sorry to hear this. Try looking around!
Show me the money. If you want loyalty get a dog.
My uncle and I had this exact conversation the other day. Even he admits that when he was working, especially in the 70s and 80s his employer took care of him - decent raises every year, career growth and opportunity, flexibility during times of stress, etc. But I don’t know anyone’s company in today’s day and age that still does that. So why should I show them loyalty when they don’t show any to me? The last two times I switched positions (granted one was after a layoff), I got at least a 25% increase in pay. Yearly both of those companies were giving 2.75% max raises and in one when I moved up the chain, so to speak, I still only got 7%.
It makes a lot more sense to leave for big increases when if you stayed in place it would take you 4+ years to equal that same increase (which in theory would also be going up every year 2-3%).
Short-term it can be great, but long-term it has limited value, unless you activally work on new skills, and are truly special.
Here is the challenge. Every job is only worth so much to a company. So, your salary being high, except if you a perfect match, may actually hinder your candidacy. Now, it will, make you be more aggressive in your negotiation.
For some jobs, and to gain leadership roles, some jumping is essential, but it has to be more strategic. Its not so much about the money, but responsibilities. For example, a CIO, CTO or CDO is hired, usually, to address specific situations. If you don't have those experiences, your not a good canidate.
Does jumping help, yes, but too much jumping, just for salary, probably will get you priced out of the market if your only mediocre, and will be viewed negatively at some companies.
Focus on what is truly important. If salary is your only consideration, your screwed in life.
Since you’re a Senior Associate Consultant, my advice is to open a consulting company under a LLC or S-Corp. List that company under your professional experience PRIOR to the last. You then refer to the short-lived employers as “clients”. 😉
As someone responsible for interviewing and recommending hiring decisions, I will say as an employer, this is always a red flag for me because I assume they’ll be a short hire and we’ll have to go through the whole process again in 2 years. I’ve recommended turning down several applicants in the past because of this. The one time my company didn’t listen to my recommendation, it came back to bite us in the butt when they left after 8-months because they got a better offer elsewhere.
No, this is silly as an absolute statement. Jumping to a new job for a small pay raise can be super short sighted if it's not setting you up for your long term goals, if the company is in an unstable industry, etc. It does make sense to periodically test the market and apply to new roles though
I think it depends on whether or not you have things like stocks and vested opportunities to consider. If you're working in a job without benefits and want a slight increase in compensation with your added experience, I think that's fine. However, if you're leaving before you're fully vested in your various salary benefits, it seems like you're walking away from large sums of money.
Like many things, it depends and very situational. If you’re getting meaningful promotions and responsibility every couple of years and there is enough organizational change/growth, you can do very well at one company. It’s also very competitive these days to job hop.
I have never been successful at switching jobs. I tried, but I guess this is easier said than done. Employers see when you’re trying to switch just for money.
Same here.
I originally applied for a construction administrator position with a company. Instead of offering me the position I applied and interviewed for I was offered a position as a Project Engineer. The pay from what I make now is about a 29% pay increase, and a path to growth and development. Having a hard time figuring out if it's worth the jump right now. More physically demanding and combo of office work and field work it's throwing me off because I was not expecting a higher role but I feel like that position starting pay is more than what was offered
Worked for me 2yrs is the longest
Commenting as an HR/Comp person: over the last decade plus, annual US salary increase budgets have been 3%. Pay ranges in the US usually move 2-3% a year as well. If you are changing jobs, you shouldn't change for less than 13% to address the upheaval in your life (doesn't apply if you hate where you are or are losing your job). So, yes, if you change jobs, you are going to get an increase greater than the annual budget. Hopefully, though, you are taking on a bigger role with new skills/development and get an even bigger increase. I'm always suspicious when someone moves every 12-18 months because they aren't staying long enough to see the results of what they've done and that sets off red flags for me as an HR person - are they running away from a mess they've made?
Hi. Yes me. 7 jobs in 10yrs. Across 2 continent and I’ve grown financially as a result of that. If you are young, now is the time.
Absolutely yes! I have always job hopped 3-4 years and the only way I have seen my salary increase in a very tight market.
Bowl Leader
Yes! 🙌
At certain large companies it's next to impossible to get a grade bump or a raise that's in excess of COLA. But don't jump for the sake of jumping. Or at least wait 5 years. 2 years is marginal.
If you are satisfied with your current B-ark job, then stay there. The devil you know.
I have a friend who has switched jobs every 2-3 years and seen the benefit financially of doing so. She’s now at her current job over the 3 year mark because the pay is good, the job market is tight, and it’s the devil she knows well now. So I echo what others have said, I wouldn’t use it as an absolute rule. Maybe a trigger to evaluate whether a move makes sense. I’ve been tempted to put the plan in motion after discussing with my friend, but I’m not fully vested where I am yet and I’m unwilling to leave that money on the table.