Hi everyone,
I got promoted from Business Associate to Associate Consultant within Capability Hubs Department. My CCTC is 8.48 LPA fixed. How much hike and bonus I can expect with a rating 3 considering I got a promotion as well. They hired outside candidates at 12LPA for ACon while present ACons were sitting at 10.25 to 11 LPA. This is disheartening. Please reply and share some inputs. I have asked for a team change in FY24. Please help. TIA.

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I don't have concrete numbers to give because my own ratings and numbers are still to be discussed but I'm expecting only a 10-15% increase from my previous salary of 10.5 LPA. At the minimum you should expect a 30% increase considering it's a promotion and not just a hike.
I work with the Research and benchmarking team currently.

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Brother, I am part of RBM team as well and within that I am part of Research team. I don’t think this year hikes will be 30% for promotions as well. Ritesh specifically mentioned last year numbers won’t be taken into account to decide this year’s numbers. There will a rise in attrition after December and I can see a lot of faces which are not happy with their performance development. RBM doesn’t even have proper budgets to organized team lunches, and no wonder they promoted their senior leadership twice this year, with mid year and year end promotions. CH charnival and all was just a gimmick and nothing more than that. I am assuming 10-15 per cent with a promotion, just yearly hike this year can be a lot less in single digit for this year.

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You're actually on the higher side in terms of CTC for a BA but when i was promoted i did get a 40% raise. I think it will also depend on your new team and their budget allocations.

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Yes, since I was a BA for 2 years. Also, last year hikes were around 40 per cent but I don’t know how the hikes will be this year taking into account the promotions as well this year. ACon hired this year were given 12 to 13 LPA as their CTC but present Acon were sitting in a bracket of 9.75-10.25 LPA. I don’t know how much increase they will give me seeing that this year hikes and incentives are muted. Any idea about this year and any sure shot figures you can give in terms of pay bracket for ACon? This would really be helpful. Also, you are part of which team brother?

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Single digit hikes will be suicidal bro, i don't think that's going to be the case. As for hikes with promotions yes they will be muted definitely but I'm hoping that 25-30% would be given else it would lead to mass resignations.
You're spot on about the low budgets and unnecessary leadership promotions though, a lot of dissatisfaction on the floor and you can feel that there's some chaos waiting to happen.
I don't have high hopes myself but anyways it would be good to start looking elsewhere definitely.

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