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What will be the in hand salary of 23 LPA ?
Hi Fishes, Y.O.E 7.5+ years. Tata Consultancy TCS is offering 25LPA including variable pay and everything. So just 15% increment on my current salary since they mentioned I am leaving my current organization within 1 year.
They mentioned 8-12% is VP plus 80k from that salary is paid at the end of each year. Is it a good enough salary for 7.5+ yoe candidate. Also any heads up for the things I should look out for will be really helpful.
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If you make $100k, that’s still a 15% increase, which is more than most people get annually. Even if you love your current employer, $15k breaks down to about $6-8k after taxes, which is an extra $230-$300 per paycheck. That’s a car payment, or a student loan payment.
Depends on if you LOVE the new place. I personally love my job. But I wouldn't go somewhere ididnt like cause of money. I want to be happy at my job.
The correct question should be is it worth it to you? Another thing to consider is tax brackets. If you're in a lower bracket and this increase pushes you into the next tier, you might lose more than estimated to taxes.
This is 100% incorrect. The 24% bracket is from 89k to 170k filing single. So even at 170k going up 15k into the next bracket brings you up to 32% so you’d break even there as 15k is an 8% raise on 170k.
It is safe to say if this person was making $170k they wouldn’t be coming to fishbowl for financial advice.
So yes it is absolutely worth it even if it takes you to the next bracket. Even more worth it if you’re under 89k as the taxes only jump 2% but your raise would be well over 15%.
Yes. Go for it.
Yes, 1000%
The only situation where I see this not making sense is if you suspected that the new work environment would be toxic or overly demanding. Your mental wellbeing has value that cannot be put in monetary terms
If the only reason you go to work is for the pay, you are there for the wrong reason.
Yes
How old are you? If you were young I say yes!  Does your current position offer a lot more flexibility’s than the one you were going to start?
Yes
Of course, it works, you just have to make sure of a place that is not so toxic.