Guys, please help me in deciding if I should accept the below offer.
My cctc is 39 lpa ( 37.5+1.5vp) and I work from home permanently. The company is not willing to budge on the compensation at all. The below number is inclusive of employer pf. As the market is bad, I got an effective hike of only 36%. I would have been ok if the location hadn't been Mumbai and they are not even offering relocation. The only good thing about the offer is the designation I believe. Please suggest guys.
Citi Group
Strategy & Management Consulting
VPMumbai10 YoE
Pls check your I/E calculation and check rents and other expense to arrive at a conclusion.
Benchmarking for rent would be housing, school for kids, tutions you should check with someone to get an idea. Be specific with respect location as rents can vary. You will be able to increase your base
Thanks! The points are really good.
I prefer to live in a region nearby to Goregaon. The office is in Nerlon Park.
The only associated costs would be for household expenses, as office provides free shuttle. And I will live alone.
Do you have any suggestions for the same?
Check housing.com for benchmarking. There will be 1bhk iptions available. There is metro station at walking distance from Nirlon park. You will have to do an analysis. Do use maps to find what locations would be preferrable. You will get YT pe lication ka videos too
Savings wise you would be worse off with the new offer (assuming you are not living in Tier 1 city currently); Brand name and designation is good - HR consulting has less takers at later stage of the career so would advise not to go ahead unless you are currently doing HR consulting only currently.
I am in HR consulting currently. Working as a Workday Functional Architect. I dont have an MBA though
Not worth it, would advice to try more
I moved to Mumbai for the brand name on my resume but absolutely not worth it. Try asking for another city at least or get competing offers from other companies and locations.
Relocation is pretty standard and basic thing any company should offer. And do check on the exit clause as well.
Effectively very less hike for you since most of your increase would be eaten up by the rent payment
Citi’s office is in Lower Parel
1 Room rent in a 2BHK in Lower Parel area is around 35-40K,
2BHK is around 70-80K, furnished
- 1 month brokerage , which will increase your expense between 5-9 lakhs
If you stay a little farther then it might make sense for you, but only if you are willing to travel for 1 hr everyday (one side).
But designation is good I guess.
I believe one office is in Nirlon Park and the other one in BKC.
I plan to stay near Nirlon in areas like Malad, Dindoshi etc which will be cheaper
