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If you stay at your job, your average wage growth would be around 5%-7% in India.
The usual inflation in India is around 6%.
This means that a large segment of folks working at their jobs become poorer in real terms each year.
[A thread]
The usual inflation in India is around 6%.
This means that a large segment of folks working at their jobs become poorer in real terms each year.
[A thread]
[1] Therefore, you see severely high attrition rate in India:
- At TCS (probably the best IT firm in India) the attrition is roughly 8%
- At Accenture it is around 17%
- At several startups it is above 30%
- At TCS (probably the best IT firm in India) the attrition is roughly 8%
- At Accenture it is around 17%
- At several startups it is above 30%
[2] Even top firms are stingy with increments:
PS: The numbers quoted all "all-in" increments. The in-hand wage rise would be at far less.
![[2] Even top firms are stingy with increments: PS: The numbers quoted all "all-in" increments. The in-hand wage rise would be at far less.](https://pbs.twimg.com/media/FMS1QO1aMAQy3mI.jpg "[2] Even top firms are stingy with increments: PS: The numbers quoted all \"all-in\" increments. The in-hand wage rise would be at far less.")
PS: The numbers quoted all "all-in" increments. The in-hand wage rise would be at far less.
[3] Now interestingly, if you switch your job, the average salary growth is roughly 10%.
- Therefore, switching job has become a top priority for many.
- Therefore, switching job has become a top priority for many.
[4] Startups inadvertently are promoting the "switching" trend:
- If you think about it rationally, many startups are flushed with funds.
- They don't have an extensive brand value (yet).
- In the talent war, they end up paying more.
- If you think about it rationally, many startups are flushed with funds.
- They don't have an extensive brand value (yet).
- In the talent war, they end up paying more.
[5] How can you benefit?
- Build skills.
- Build network.
- Switch.
And, recognise the fact : People switch, simply because they don't want to work their way to perennial poverty.
- Build skills.
- Build network.
- Switch.
And, recognise the fact : People switch, simply because they don't want to work their way to perennial poverty.
