I am a Tier 1 MBA grad with ~ 2 YOE, My CTC is 18 LPA.
I have quit my job and I'm expecting a 25-30% hike for the next role (23 LPA)
Is this a valid expectation to have? I know I'm already being underpaid, but considering the current market situation it seems difficult to get that kind of a raise.
What should be the appropriate amount to quote?
Without offer why u quit? Having expectations is right but due to present job market it’s really hard to find new job. Its my opinion and might be wrong but take back the resignation and find another offer, and then negotiate
You are not underpaid. You can generally expect a 20-30% hike on a job switch but 2 factors are against you - it is a challenging job market and you are not employed currently. So accordingly manage your expectations and don’t say NO to an employer just for the salary.
There is no benchmark anywhere. You Are from T1. Ask a random/unreasonable number. They will offer you a lesser amount, because they have to negotiate. Agree and move on to your next target 18 months later.
if you are from tier 1, then it's underpaid
I m Tier 1 MBA with 3.5 years of experience in Strategy and Marketing. Took a paycut on my 2022 CTC to join a great company in a great role in 2023 during all layoff scenes of early 2023. This year also I m expecting hardly 7 - 8% hike....
My current CTC is 8.1 Ipa and during interview rounds, I have asked for 15 LPA as that was the budget of the role. It's an MNC BANK. Not revealing the company. Now they are saying that only a 30% hike is possible because no one in the in...
Currently I am working in an MNC with 2.5 yr experience. My CTC is around 8LPA. I am planning to switch and how much hike can I ask during the switch based on the current market scenario??
