When to switch jobs in Indian IT industry
Initial years in industry 0-2 years experience
Indian IT industry has become very competitive, especially in the early stages of your career. The salaries paid are so less and the expectations so high. Even the better of the organizations are paying very less salaries as compared to the inflation these days.
So what can you do as a fresher? My advice to you would be to be patient, live out your time and learn as much as you can for at least 2 years. Two full years? Yes, two full years especially when you are not working with a good brand name. You will have learnt more than enough for your level to easily clear even the best of the interviews and you would have demonstrated that you are a stable person in terms of staying at a company. Now what to look for when you are switching the job after so much wait-money yes off course and that too lots of it. But in some places you can have a trade-off for joining a good company- a brand as it is called.
Now if you are already with a brand then also you should switch in 2 years. Why? Because the big companies these days are not giving a very good exposure to the freshers leading to wasted talents and paltry salaries. Switching will give you more exposure and better takeaways. After your first switch your salary should reach somewhere between 5-7 lakhs depending upon technology company and level of exposure.
The next step 2-5 years
By this time hopefully you have made your first move and your new organization might be good or it might not be that good as you expected it to be. So what to do now? Wait out the first year here as switching a job at this moment will not be in your favour-neither will you get financial benefits nor will it add to your stability portfolio.
If your new company is good and you see good prospects for yourself in terms of hikes, promotions or an upcoming on-site opportunity then it’s the best place to stay, reap all the benefits of your organization and wait for the right time to switch. It will come for sure may be in the coming few years J
But if your new company is not as good as you would have expected or you are not having very good prospects of hikes/promotions or onsite then complete a year here for the sake of stability and then leave leave leave as soon as you can. BUT- note the all caps but- Do not leave without taking a hike. Leaving once you take a hike will give you double benefits. Let’s say you get a 10% hike here, or may be less then this amount will also be added to the new amount that you will negotiate with you would be employer.
For example: you have a salary of 5 LPA and you get a 10 % hike, so that makes your new CTC at 5.50 LPA. Now you can negotiate this salary with your new employer and let’s say you get an average hike of 30%, so that will make your CTC as 7.15LPA as opposed to previous 6.5 lakhs. So a total gain of 65K a year which is roughly 5K a month, isn’t it great !!
Between experience 5-8 years
If you stayed with your second employer as in the previous case then it’s the time for you to switch now and switch big. Go for a Team lead or some better designation. Money weighs less to you now (as your current employer has fulfilled that aspect) and position and designation have more value and charm so go for it.
If you left your second employer early due to some reason or the other than for you now is the time to stay. By now you would already have a good take home salary, thanks to your second switch. So now your focus should be at other things promotions and onsite. Did I miss hike? Oh that you will be getting anyway, so no point discussing it here. Try to secure an onsite here or land a promotion. As in your next hop you should be looking at a lead or a PM as per your situation and organizational rules.
8 years and beyond
Your paycheck has become fat and the world is becoming a tougher place to survive-that’s you after 8 years in IT. So wat now you are either already a PM or a lead looking to be a PM pretty soon. So now is the time for you to settle down. Look for a job closer to your home town or otherwise convenient to you and also matching your competency.
Stay here for as long as you can 5 years, 10 years any timeframe is less. Once you get to a much higher position, say a Delivery Head or something even bigger, than you have the choice to go on or a couple of other options as discussed below:
Join a smaller firm as a director or a VP and play the mentor role, you can take up for that job in more than one organization if circumstances permit. You can channelize all your industry experiences to guide the young guns and in return reap much higher financial and other benefits than any job can ever offer.
GO ENTERPRENUER: START AN ADVENTURE OF YOUR OWN : RISK A PART OF YOUR SAVINGS AND BE READY TO WORK WORST THAN EVEN A FRESHER: WHAT YOU GET? APART FROM SATISFACTION OF BEING THE ULTIMATE BOSS YOU REAP THE GREAT FINANCIAL BENEFITS THAT TODAY’s STARTUP CULTURE HAS ON OFFER.
To read more about entrepreneurship and where to start read my below article:
- Going Entrepreneur : How to Start a Startup
Entrepreneurship is the buzzword & why not when many startups have scaled great heights challenging global giants. So what does it take to be an entrepreneur & can you be one? Find out below.
If you have any queries or concerns feel free to discuss in the comments section. You can hope to get prompt advice and views of other hub authors. Thanks for reading. Cheers !!