SparklyNugget

[AMA] 9 years in Software Engineering in India. NW 2.5Cr

Hi,

I have been working in the Software Industry for the past 9 years. I feel like I have made a good use of my time and money and maybe some of my lessons can help you folks as well. Recently did a calculation for my NW and I am happy and proud to see my NW crossing 2CR+. I have 0 debt and do not own a house. Here is how my portfolio look like

TC: 1.3 Cr YOE: 9

I am happy to do an AMA. Ask me anything about tech, career, love, marriage, money management, therapy, songs and movies. #Ask Me Anything #ama #amazon #atlassian #google #startups #bengaluru #networth #money management #finance #india

Sorry if delay in responses, I'll answer all your questions eventually.

5mo ago

31Kviews

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DizzyBiscuit

Morgan Stanley5mo

Hi, Firstly, congrats on achieving such a great Milestone! I have few doubts on what I need to do for my future but before that below is something about me. 'Currently working as an SRE at Morgan Stanley (Senior Associate) with good relations in the team and also an achiever in my entire global team. My TC is 21 LPA with 2 YOE and expecting a manager promotion in 1-2 years. I have investments and Savings of around 5 Lakhs.'

My query is I feel saturated in my current role and team but fear shifting due to me being sole bread earner in my Family and lot of Family Problems and low confidence in myself but still wanted to further my career.

Should I wait for a few more years and then shift the company to a Start-up for more learning and development or move to Product based? Also feeling lonely so start or at least try for dating or ignore this and grind more and concentrate on my career? How did you start with stocks? Is this after learning sufficient knowledge or you had some help?

TIA

SparklyNugget

Google5mo

"I must not fear. Fear is the mind-killer. Fear is the little-death that brings total obliteration. I will face my fear. I will permit it to pass over me and through me. And when it has gone past I will turn the inner eye to see its path. Where the fear has gone there will be nothing. Only I will remain." - Frank Herbert, Dune

What worked for me was switching companies when I felt stuck. I gave my team/company around 6 months to show me a path to promo/growth, but if that didn't work out I changes companies to get those opportunities. Also keeping a healthy runway of 6-9 months of saving helped me easily take the jump, even at times when I didn't have any offers.

WobblyMarshmallow

Stealth5mo

What reason would you give when HR asked - Why are you looking for a switch?

QuirkyMarshmallow

Cred5mo

How many times did you switch companies?
Is this nw reached only by salary or stock appreciation/ other side hustles?
Any plan on buying a house in Bangalore? Are you married yet?

QuirkyMarshmallow

Cred5mo

Also congrats 🥂

SparklyNugget

Google5mo

I switched companies 5 times in the last 9 years. This NW is almost all by salary. Also I am married and I used my own money for marriage as well.

SparklyNugget

Google5mo

I see a lot of similar questions and I'll try to answer them here.

CTC Progression<<<<

My current CTC is 1.3CR . 50% is cash, 50% is stocks.

Here is my CTC progression over the years

1st - 12L 2nd - 12L (Switched Companies) 3rd - 15L 4th - 24L (Switched companies) 5th - 42L (Switched Companies) 6th - 48L 7th - 66L 8th - 72L 9th - 1.3Cr (Switched Companies)

As you can see I almost everytimg doubled my compensation when I switched my companies. But there are reasons to stay at a company as well. If you are learning and are able to handle different problems at scale, stay. When you feel stuck, leave and look for better opportunities. I have never switched job to get more money. I love CS. I have been coding since 15 years. What made me switch was either bad managers, uninteresting problems not visibility of learning and growth.

FuzzyDonut

Stealth5mo

Are you a staff level engineer?

SparklyNugget

Google5mo

I am an SDE3 when it comes to FAANG levelling

WobblyBiscuit

Student5mo

1st -Is buying a house in late 20s to early 30s a good decision
2nd - how good is it to go for ms abroad live there for 5-10 years , do savings and return to India ? 3rd - how can one accumulate a net worth of 5cr in next 6 -8 years being in a product management roles who is just starting in his career
4- Getting a good female partner is very difficult nowadays as cheating and divorces are on a rise , what you have been observed about females in these years that what really they look for in men?

ZoomyWaffle

Student5mo

You are preparing for pm role or you have a job

WobblyBiscuit

Student5mo

I am just graduated this month and preparing for entry level product roles

JumpyMochi

PhonePe5mo

Congrats 🎊
It's pretty amazing How did you invest in US stocks?
Any plans for retirement?

SparklyNugget

Google5mo

There are many apps like Groww, IndMoney. Vested etc that provide investing in US stocks. Not looking for retiring any time soon.

PeppyDumpling

Headout5mo

Saw some negative news about Groww the last few days

Discover more

Curated from across

Bangalore11mo

1 Cr net worth in Bangalore; Ask me anything

Adulting6mo

[AMA] I'll reach Rs. 1Cr NetWorth in the next 4 months (6YOE)

sooner than expected, considering I started my career with 7LPA

16K

Top comment

and I achieved this with pure development, no DSA, f*ck DSA 🖕

Personal Finance15mo

What's your net worth?

Okay, this post is not for any comparison but genuinely want to get insight on where do i stand in terms of saving among the corporate employees. I will go first. Age :28 NW : 65L

Top comment

5.75 crore including flat . Not including car or jewellery. No loans or emis or debt of any kind . Age 41

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