Need advice on salary expectations
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?
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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
I've been unemployed for about 2 months now. Already served my notice period. I had to quit because of extremely toxic work environment
Please mention this, your post makes it looks like you quit for the sake of money
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
Since companies have been giving zero hikes, some folks may not even be keen on offering 30 percent hikes. You can try to keep it as low as 15 percent but don’t deny an opportunity because of pay.