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What is a good salary for a director in NY?
I recently joined TCS but I was moved into very different project which was told during hiring. Also they told me for joining incentive but later after 65 days of joining they didn't give saying your business aproval got rejected. I really want to be with TCS but due to project dissatisfaction, I am looking for different job. I am not sure if I can leave the organisation soo soon(4 months) and it should not effect my carrier.
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Usually compression at what your describing impacts more then one person so doubt they will do something unique for you. I guess what are new hires making and what do you make and how many years of experience you have? Are you a senior staff or a senior associate? Meaning do you have the same title as them or is it unique to senior?
Reality is that usually once new hires are trained they are doing the same work as those with a few years experience so I wouldn’t expect a huge difference but some staff feel they should be making double what new hires make after 2-3 years.
How long have you been with your current employer?
New hires often earn more than tenured employees due to a phenomenon called salary compression. Employers are forced to offer higher, competitive salaries to attract external talent in a fluctuating job market, while existing employees' salaries remain capped by smaller, annual merit increases.
Several primary factors drive this pay discrepancy:
Market-Driven Salaries: Companies must match the current market rate to successfully recruit candidates. If market demand for a role spikes, starting salaries increase rapidly, outpacing the standard 2% to 4% annual raises of loyal employees.
Differing Budgets: Organizations typically manage recruitment and retention from entirely separate financial pools. The budget allocated to attract "fresh talent" is often significantly larger than the budget set aside for raises.
Negotiation Leverage: New hires are in a position to negotiate their starting salary based on current market trends and competing offers. Conversely, tenured employees are often locked into internal raise structures, sometimes feeling compelled to job hop to secure a larger pay bump.
Value Placed on External Experience: Employers sometimes place a premium on fresh perspectives and outside experience, inadvertently overlooking the internal value and institutional knowledge of their long-term staff.