What would be the best strategy to jump salaries?
Given the current ongoing scenario, what should be the strategy to get early hikes in career as you move along?
What I used to believe is to jump every 1.5-2 years just to be safe so that you can justify your jumps to next employer. As you reach senior position then you slow down for a more stable company as you might have a family to look after(early 30s).
What do you guys think?
Well, i averaged 21% salary hike starting from a low seven figure ctc after my mba from a tier 3 college. It has been 8 years and I have done only 1 switch and that too only cause I hit the glass ceiling at my previous firm. The hikes does not include the esops/esops from my first firm.
so, jumping alone is not a strategy; lateral growth within the same firm is one as well.
That is true but in most large corporates the hike rate are around 10-20% and unless you start with a high TC to begin with it, it would be hard to catch up early on.
I agree. But i have never worked in large corporates only startup. My focus has always been to make sure my salary covers my monthly expenses and helps me save atleast 15% of it. I optimize my salary structure for esops mainly because if i get cash on hand i tend to spend it
