I have 6.5 + YOE and have a CTC of 20L (fixed + bonus)
How do I achieve parity with regards to salary?
My next appraisal cycle is in March but obviously due to the economic conditions my company might not give me a great raise even though my performance has been good this year.
Any suggestions?
You are getting 1/3rd of what spms earn.
Here- go to better org as pm, get the salary correction done asap. Mostly you’re over experienced as a pm.
In this market condition, no employer will give more than 30% of current ctc. That’s the reality. You’ll have to live with it. Join one org, spend 6 mos, move to another.
With two moves in one year you’ll somewhat reach a parity.
Thank you. I know I’m underpaid, but the problem is that I don’t want to hop around the way you’ve suggested since that’s also a red flag for hiring organizations.
Do you think taking a 30% raise at my current company and then quitting makes more sense?
Don't hop around. If you're sure that you'll get a good hike then wait for it and then switch after getting it, otherwise switch now. You can decide for yourself what's a good hike.
30-40% would be a good hike before looking for my next move. Plus I’ll be vesting around my hike too.
Yes, get a new job and don't reveal your current CTC.
Use the advice given on fearlesssalarynegotiation.com to get them to disclose their budget or move that discussion up the road after they've had a chance to know you and want you.
Not all companies will be okay with this but if you hold your nerve and let them go, you will find those who are. All the best.
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