Chasing money or skills? What paid off at the end?
This is mostly for people who have spent 10+ years in the industry. I’m sure we all can agree that the hiring and salary boom that we witnessed in 2021-22 is mostly over now. Now it’s more about surviving the job market rather than printing asymmetrical amount of money
But how has it turned out for people who’ve been in the game for too long. I know some people who switched jobs too quickly and are at a higher package but still not content. At the same time, I know a few seniors who’re still in my first company and are happier than ever with the work.
I understand that in Tier-1 cities, the expense itself is more and you’re sometimes forced to switch just to stay afloat. But what would you recommend new joiners based on your experience? Does chasing money in early years help later or only focusing on skills?
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0-3 years I would say skills, thats the time you are building you foundation, this might not be true for all but for most I think it should be. If you are really stuck in some service company and legacy obscure technology, this will be a tricky situation as the skills you learn its application in different companies will be limited.
For people starting with general programming languages and tech stacks, building the foundation will help command a premium even in bad market, again ignoring all those all talks no knowledge ppl because they always get top money and positions someway or the other, they have the art of selling themselves skills which normal engineer doesn’t have.
Have worked with ppl who switched every 7-9 months and reached 35-40 LPA in less than 5 years, getting laid off and finding it really difficult to get job because even basic understanding are missing.
Always chasing great work experience.
Worked out for me always.
Ended up giving me the money and company and career growth I desired
Thank you sir Just curious to know How much brands matter on a resume to land interview in places like Google I’ve mostly worked with startups but wish to work in bigger companies like Google someday What tips would you suggest to someone like me?
Brands do matter. But as long as you had a decent college, you now have Cred which is a top startup brand.
You can get a shortlist for interview if your work ex matches the requirements for the job
I'll give my example. When i joined after my graduation, high package was more important than good work, first 5 years after graduation is the time where i have to accumulate as much as i can to buy a car, buy own house and have more than needed amount laying in my bank, if i have all these then only someone gonna say YES to get marry to me, no one wants to marry a poor guy, this was important for my family too as they lived whole their life with almost no money so want to give them better life as early as possible before they get too old.
also having maximum money early is important so that i get the benefit of compounding later.
If your core focus is on money, you would be able to figure out all the factors involved and various skills (not just tech), brand, nature of experience (depth + breadth).
Advice coming from someone who is at 1 cr cash annually. During covid times, it was 1.8cr cash annually with all of the side projects included. ESOPs are not considered here.
How much would your esops be worth if I may ask?
I honestly dont track it from previous jobs. Its about 40 lacs in the current job but i have never made money from ESOPs so far so my focus is on cash.
For me pre COVID, 1 Lakh/month was enough But now even 2.5Lakhs seems low. Just my state of mind got changed.
Chase good work experience, good companies and Money.
The pressure will make you acquire skills.
You may even skill yourself at a bad company or at a low paying job but the pressure a good pay work environment gives will make you upskill better.
If you're starting with a salary between 9-12 LPA in Bangalore, Delhi, or Hyderabad, focus on honing your skills rather than just chasing money. The real rewards come to those who can solve problems with their tech smarts and sharp minds.
If your salary falls below this range, consider moving to a similar company that values your skill set. Early in your career, it's important to avoid money worries and focus on building a strong foundation for your future.
With a salary of 9-12 LPA, you can enjoy a decent or even comfortable lifestyle in these cities. Discover your passion and work hard towards it while making sure your basics are solid.
Once you feel confident in your abilities and ready to tackle industry challenges in your chosen field, consider making a move to a position that offers both satisfaction and a good salary.