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I have worked in BPS for around 8.5 years and have excellent command over Excel, I have been moved to IT project and have 3 years experience in it as functional consultant/Quality Analyst/SME/Business Analyst.
Now I want to switch because I feel I am under paid, so is it the right time to explore new opportunities or I should still stay with current organization for some more time.
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Advisory group? Level? Location? Salary?
No it’s not , it’s just speculation that it’s going to be recession in 2023 , I think it’s better to switch and keep your interview skills up next year
Switch or not, keeping you interview skills sharp is always a plus. Do that because thats the only thing in your control, I will say definitely switch if your companies stock is plummeting down by huge % , see Credit Suisse AG, for example.
According to me 23 will be a boom again !! We are already in recession it will pass by year end or 1st quarter
Also depends on your salary for yoe.
If you're getting 30lpa for 3yoe, if there are layoffs you might be one of the initial ones to go if there are any.
But even if fb , Google etc who have the best of the best can have layoffs anyone can. So literally you can't be certain about anything.
Main thing to keep in mind is, always be interview ready wherever you are until things calm down. Be confident in your skills and never be complacent even if you're not looking to jump.
Salary for yoe argument makes no sense btw :-)
Fear of loosing job is always in IT, it can be caused by anything,
Company looses project you loose job
So instead of that grow your skills learn and keep learning
If you have skills and value to company they will not loose you
Switch dont. Switch but have good grip at your skills and make yourself valuable to company
One of the recruitment member from @Accenture told me that yes there is recession and layoff may be happened but only to those who have faked in their resume or non performing resource.
I have always seen these faang companies doing mass layoff from time to time , it’s not anything new , it’s being hyped over the news nowadays…. Nothing extreme which we haven’t seen already will happen in 23 …
Yes risky in product based companies