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I joined Tiger Analytics with CTC of 9lpa. When I check in greythr IT statement, it shows 7.14lpa.
In the CTC payslip, it shows 75k per month as my salary. But this month I got 61k.
I understand they deduct tax, but I feel it is too much. IDK where I'm losing the money. Can someone tell if this is normal. I'm a fresher so, IDK much about it.
Also, what can I do to pay less taxes? Any help on that?
What are your long term salary goals?
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I work at Bain.
In MBB consulting, depending on which region you work in and performance, it should be possible to hit 1M in 3 years or so as a partner, but very likely within 5 years. In some regions such as India, it may not however be feasible given lower pricing / salaries.
In corporates, my understanding is that it should be fairly achievable to get salary of 250-350K. I see exits in that range at my level - typically director or senior director level. Next promotion should be to a VP or so in 2-4 years (probably c-2 or so) where salary might be closer to 400-450K I would guess.
As you see, salaries are definitely lower than consulting with slower growth. Consulting is hence preferred from a more guaranteed high salary perspective (best risk-adjusted proposition), if you can get promoted that is. Hours are probably longer in consulting even as you go higher up, but one would argue the stress also exists in corporates especially at VP level and even worse if you have P&L responsibility. But if you are happy to cruise at 250-350K range which is really good btw, corporates are great and you can get a good exit from consulting..
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So big four consulting is not bad
Anecdotally, VPs get 600-700k snd SVPs get 800k-1.2m. This includes cash and stock.
From director to VP usually takes 5-8 years but requires strong political support and also some rotations. I’ve seen it happen in 3-4 years but super rare and usually due to restructuring.
This is for F100 non-tech
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Mentor
Take comp at senior levels with a grain of salt. The estimates are wild, and very often off base.
A VP/Sr.VP role in a F500 can pay comparable wages, but it comes down to which company and what your partnership payout is, rather than titles.
In tech, given title deflation, a Director/Sr. director/Managing Director type role also starts overlapping.
Stop being lazy and check annual reports
I mean this only gets you 5-6 names execs making 5+ mil a year so not really that helpful for the question asked
In industry you get a mixed package generally at the VP/SVP levels - base, bonus, stock options, stock grants, etc. The total package could be 1M hypothetically, but a good amount of that can be tied up in stock. With partner roles, you end up with cash in your pocket each year (you may get awarded the option to buy more units, but those just get used to pay out more cash). The industry option could be great assuming the company is stable and growing (Big tech, pharmaceuticals, as examples)
I am rn a F25 Director, two levels below CEO. In 2022, with base, bonus and partially vested rsus I expect to break $500K. Once fully vested, performance factors will put my total comp in any year between $550 to $750K. At the level above me, folks break a mil easily most years. C-suite folks start at $3M+.
TC yes. Salaries, $300-400 for 1-4 years. Then it goes up
it’s really all over the map - i’m a director at an f300, but i report to an svp who reports to the c-suite, so your mileage may vary when it comes to title and hierarchy - for reference, my comp is 200k base + 80k bonus + 50k rsus, not sure when i’ll break 400k, but i hope at vp in 3-4yrs
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Which industry?