Hey peeps!
Currently working in a Fintech company in Mumbai as a Frontend Engineer with over a year of experience. The current CTC is 7 LPA.
I feel like the growth here is limited and from the past few months there's been a lot of micro-management. Even the CTC is not up to Mumbai's expense standard. I live in a soapbox and pay like 1/5 th of monthly salary. Standard of living has been decreasing while it should be opposite.
Brownie points if you refer me to some good early stage startup probably in BLR or Pune or Remote.
Are your parents dependent on you even a bit financially?
What does your runway look like?
Do you have health insurance for yourself and your parents? (Not the one provided by company)
Not exactly, I mostly just pay for their utility bills and recharges.
Got savings of 3 months.
I only got Life insurance, no health insurance
Dude, don't quit your job.
I'd never advise anyone to work 6 day a week at such paltry salary in a city like Mumbai.
But please don't quit your job, unless you have landed one.
Your current financial scenario is just not right for quitting and then hunting.
But yeah, if you get even 20-30% hike for locations like Bengaluru and Pune, pack your bag leave asap.
That salary in Mumbai+ 6day work is insane. But I won't recommend to resign at all without an offer. Take salary cut if getting remote I would say.
Bengaluru will more CTC for fintech roles.
In my opinion, for your experience don’t take a pay cut and don’t look for remote roles. I’ll recommend you to up-skill and you can easily double your salary. Move to Pune or BLR if you can as you don’t have any dependancy with your parents.
This is a general problem of salaried employees. Especially tech crowd. For one year of exp how much growth can one expect?. Now as an employee, there are many like us within the org. Some with more experience than us, some in the good books of manager etc. why should the company give growth to one individual?.
Any startup founder has 100 issues to deal with. Retaining 1 employee isn't in the top 10.
I'd give my two cents, keep looking for jobs. Get one that suits your needs and then leave. Don't leave without a job in hand coz recruiters lowball you when you don't have a job. Keep preparing. I know it's hard, I'm on a similar boat too. Find out some time every day to apply for jobs and preparing for interviews. All the best, buddy! 👍
P. S.: Pls don't take a pay cut even if you are choosing a remote job. You deserve a raise in your next job + 5 day work week. You'll get through this! 👍
Imo any job offering less than 10 lacs to a fresher is not worth doing. Add 10% for every year of experience.
You would be earning more in a roadside shop or farming than corporate. Exception you want to learn or are passionate about the role or have significant upside in future.
Resign
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