Should I Switch Jobs for a 25% Raise or Stay with My Current Company? Seeking Advice!

Hi,

I have been working in the IT industry for the past 5 years and have been with my current company for the last 7 months. I joined this company with almost double the salary I had before. However, I am currently on the bench and am considering joining another company. I am confused and seeking advice on whether I should go for the new company with a salary hike of 25% or wait for more opportunities. My present company holds a good position in the Indian and international market. Additionally, if I leave my current job, they will not pay me the variable component (15%) of my CTC.

I am also pursuing an MBA in IT through distance learning and have my final exams scheduled for January-February.

Regards,
Jimmy

Hi Jagjit,

I have studied your query. As you have mentioned that your present company has a good value in both the domestic and international markets, and your exams are in Jan-Feb, I suggest staying with your current company. The level of comfort a person gains only comes with time. If you join a new company now, your exams may suffer, or you may not get leaves as this would be the starting point in the other company of yours. Opportunities will come and go, and they will come again with much better terms if you succeed in your final year exams. Your value automatically increases along with your experience and your present company's market status. In life, only money does not matter. Your experience, qualifications, and especially when you want a shift, the status and the brand name of your present company do matter.

I hope I have presented the pros and cons of your query. The decision is yours, Jagjit. All the best.

A few days back, I raised a query at this desk, and a few friends have replied the same. However, the same question has arisen again. The company has started firing people who are on the bench. They have been told to leave the company within one month. HR simply stated that they do not have any projects matching their profiles, so they should look elsewhere. No termination letters will be issued to them. HR has initiated this process with four people, and more than 30 in our department are without any projects. Now, how can we trust other companies that are hiring on a massive scale? The future of experienced professional employees is uncertain. Are these companies playing with experienced people?

I have only seen a few companies that hire based on specific requirements. Please share your comments on this situation and advise on what actions should be taken.

Hi,

This is for your understanding of why companies hire beforehand. For example, if a company X has a new software to be built, it announces it in the market. Then the software companies would bid on the project, showcasing their assets like talent pool, expenses, reliability, etc., to demonstrate their suitability for the project. They hire people in advance to exhibit a talent pool that is appropriate for that particular project.

One software company would secure the project, and the other companies that had hired people would either assign them to projects that match their skills or keep them on the bench. If they don't foresee a need for those particular skills in the near future, they let those individuals go.

So, it's always better to discuss the project you will be deployed in before joining.

I suggest not moving at this stage, as the level of comfort in handling your job along with your upcoming exams is high and will not be the case if you switch jobs. Besides, look at it positively. You are on the bench here, which means that there is no project for you from the company right now. This means no pressing work conditions - an ideal time to concentrate on your studies. Be of some assistance to others as per their comfort level so that you don't feel wasted - that's the feeling I got from your post. Once you have completed your exams, you will be in a position to decide on your next course of action. Presently, chill and make the most of this situation. All the best for your exams.

Regards,
Gouri

Hi Gauri,

Thank you for the suggestion. I had mentioned in an earlier post that the company is planning to fire all bench employees within a month. Now, the pressure of exams and searching for a new job is mounting. I am applying to some other companies now. However, they are asking for reasons for joining a new job. I have gone through an interview round. The first round was purely technical, with some discussion with the HR representative regarding salary negotiation. Yesterday, I had another round. They had mentioned that it would be another technical round, but it turned out to be only a discussion about what I am currently doing and my previous companies.

I am still confused. Will they call me again or not?

Regards,
Jagjit

Dear Jimmy,

Please wait until you complete your MBA exams. Secondly, think twice before you accept the second offer. If your present employer is paying well, do not jump for a new job. Maybe after completing your MBA, your position may change with suitable packages. Anyway, wait for some time.

Best regards,
L. Kumar