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BCG or Uncle D , comp 20% higher at BCG
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"post_content": "Hi folks,\n\nMy YOE is 1 year 8 months and I have an offer for ₹14lpa (13 fixed and 1 variable paid annually).\nOffer is from a mid sized service based company for a product that they're launching.@\n\nIs this a good amount considering people are getting hefty amounts in the market?\n\nP.S. my current CTC is ₹ 5.25 lpa",
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To be honest, you can aim for more if you have the skills and can crack interviews. I made a similar jump from 5.75L to 13L at a similar experience back in 2019, and it's a completely different market since then. But i did switch from a service based org to a product based on. So you can look for better opportunities. All the best.
Congrats on your offer.
Advice for your future: Stop comparing yourself with others and try to compare on your own knowledge. If you have the ability and skills you'll definitely get better offer.
By seeing your responses you are very bad at team building and its because of your lack of experience. First try to be good with the people around rather than going behind money.
If 14 lpa for < 2 yoe is not hefty, I don't know what is.
Accenture 1, forget Service based even in Product based 30-40 lpa is quite unusual figure for a fresher. The author must be talking of either startups or the Tier 1 companies of Amazon, Google standards.
No man I know someone who is getting 96 lakh for 1.5 years of experience, don't settle before that.
This was a simple question. Not like is 96lpa enough to survive. You started with your "sarcastic" comment and you don't want to make it a debate platform. Audacity
Pro
If you are extremely good at what you are doing, may be you can try for a better package.
But let me tell you a few things.
Before the tech boom happened, YOE x 3/3.5 used to be the salary standards (when switching jobs). It might just go up to YOE x 4 or 4.5 if your tech stack is good and niche. But all this changed with the tech boom, and 20 LPA for 2 YEO is the new normal and believe me when I tell you, this new normal is not here to stay. For every bull run, sooner or later, there is going to be a bear run.
A market correction ( or recession in other words), is going to happen, and when that happens, people with massive salary will have to justify their pay. When this happens, if you are super good at your tech stack, you should be fine, but if you are an average perfomer who managed to get huge salary because of your interview and negotiation skills or may be luck, you will get into trouble.
Pro
@cognizant1.
You are absolutely right. I was mentioning about the top 20% earners as the author clearly thinks he belongs to the top 20% .
I have around 10 years of experience and my CCTC is 18LPA. It's a great offer. Take it.
Thanks!
You are almost getting 2.5 times your current ctc. Aur kya loge bhai!! There's no end to greed looking at other people's ctc here. Just compare it to yourself where you were before and after. That way you'll feel happy about your accomplishments.
And you yourself have answered better that there will be stagnation or another word for it recession in the future. And you be the better judge if layoffs/cost cutting needs to happen then who gets highlighted there.
Lot of people here are sure shot bullying me. From the college I come avg salary was 8lpa. I got 5.00 with a 2.5 years of bond. Have to pay 1.5lakh if I leave the job. Out of 14lpa I have to pay home loan for my parents(Father is a farmer). Have to have emergency funds as my grandmother is near 70 and she has no insurance. Have to save funds for marriage. You think this amount is enough to spend on partys. For some people responsibilities come early. Yours may be delayed. Or you're just jealous that you couldn't think above your TCS and Infosys offers. Your turn will come too when you'll be confused in life and instead of helping, people will bully you. Good luck with your small thinking!
Rising Star
Look buddy. Nobody here is worried about your CTC. You are a lucky guy and infact may be talented, to get this package this soon out of college and ofcourse I envy your generation. My first job out of college paid me 8K. It took me 4 years after that to arrive at your current CTC.
People here are bullying you because you are hurling insults at people who are asking you direct questions. You seem to be overbearing and clearly obnoxious.
I don't know of any tier 2 colleges with an average CTC of 8LPA. That's may be because I haven't been to college in 6 years or may be because you got your stats wrong.
Finally, companies don't pay the highest salary to the person with the highest financial commitments, but to the person with the best aptitude/technical proficiency. Have you stopped for once to think that this could mean that some friend of yours who bagged a 9 LPA was simply better than you?
Take it from someone who's been in the industry long enough, If you keep comparing yourself to people who is in a better position, you will never be happy.
Having said that, I hope you find the opportunity you are looking for. I also hope that you stay happy and keep taking care of your family.
Tech stack?
MERN full stack
Did you worried about the kind of project you will get into?
Oh cool. Thanks will check it for sure.
ask yourself if this package will suffice your needs after keeping aside 50% for savings/investments? if affirmative, package is good enough.
i started with 13K/month & have grown to 15x in 11yrs. there were needs then, there are needs today as well. this is an infinite loop.
Considering your current CTC and just going money-wise, this is a really good offer. But, if by hefty, you meant 22L and thereabouts, then I am sorry you should have worked hard and started with 11 at least. For now though, congratulations on this offer
brother if you think you can do better give it a try. I have 1.4 yoe and I hurriedly accepted the offer of 8.5 lpa. Now, I am feeling that i could have got a better offer if i had tried for more :/ (everyone around me said you cant get more then this accept it)
5.25 to 14 is an amazing jump bro. Take it!
Are you asking a genuine query or boasting of yourself?
This is not boasting. Genuine concern. Why is 14 lpa boasting. I come from a tier 2 college where average salary is 8lpa. I got 5.25 . So I did very bad.
I think you should aim for 20 lpa. My teammates with same experience as you, have got offers from VMware , EA etc so you can too.
Given his college and experience, the current ongoing salary is around 20lpa. Seems like the offering company is taking his current salary into account which they should not. They should pay as per the current market standards.
Some more passing thoughts. I'm from a tier 1 college, but started in IT consulting with 7 LPA. If you were to feel sour about your friends getting more pay
1. I have friends and classmates who did exponentially better than me, simply because of the tier 1 status
2. Your friends must have worked harder than you at academics. Barring a few outliers, you don't end up in good places with high pay without being good (either by scores or just being talented)
3. You think you've started at a low grade. But you can always move up. Since you're already trying, kudos to you! But this is not the only thing. Try to level up. Make yourself indisposable. And then your dream package or whatever you call it, will knock on your door. Don't get carried away by what you're earning now or in 1 year. Invest in yourself and reap the rewards
4. Starting off at a lower pay even after graduating from tier2 college is not a reason to be rude and obnoxious to people around you or on the internet. Especially when they are trying to help you or trying to make you see things properly
Well simple if you think of making it to SDE role in maang you can expect more than 14 LPA.
If service based company, I think it is good. For product based it is clearly low.
It seems like you don't want to acknowledge you did good. Instead your point of comparison is your friends you say who have 30-40 lpa and you say they're happy. Maybe their point of comparison is someone with 1cr pa and they're not happy.