Malti S’ Post

No shame in moving to get a salary that you are worth or that you need to survive! The Generational gap is growing and will lead to lack of social mobility in the future as house prices and living costs outpace earnings. A bit of data to back up my ramblings; In 2000 the average salary was $31,000 and the average house was $119,000 (with average expenses of $11,000), you could save up and buy a house in 6 years. Now, average wages are up to $53,000 (with average expenses of $22,000), but average house prices have gone up to $407,000 meaning 13 years working and saving is needed to buy a home. And guess what - in 13 years time, that wont be nearly enough either. Millennials & Gen Z are all in the same boat where saving to buy a house feels more of a 20 years plan than the historic 5-10 years of saving needed. So cut them some slack if they have to move jobs just to afford the day to day! And for those saying just don't buy that coffee in the morning and save $....... 🤬 ☕ #generationalwealth #GenZ #GenX (*US data but the UK is very similar)

I thought I would follow up from my post last week with a bit more data as for some it has been more of a 'feeling' that they aren't as comfortable now as they were 2,3,4,5+ years ago. But don't worry - you aren't going crazy! Obviously we have been through the mill since 2020, oh and 2016, oh and 2008 etc etc but whenever we talk about signs of recovery - what is it that is actually recovering; Are we seeing costs come down? Salaries go up? Unemployment drop? A fantastic visual in the below article shows how in the UK, real pay growth* has stagnated since 2008. 16 years (or half a generation) of work without average pay keeping up with inflation. 📉 *Real pay growth = Average weekly earnings, adjusted for CPIH inflation. You cant fault people for looking to move jobs for financial benefit when the vast majority of the time you are at a detriment and falling behind in real-pay terms if you stay. 🤷♂️ Unless of course you have a fantastic employer (and manager) that has the right culture and can provide an environment where you can progress year on year! But alas, they are few and far between. Link for the article; https://lnkd.in/d28gJDNF. #realpaygrowth #wagestagnation #uksalarydata

My base salary progression in the first 4 years of my career: Year 1: 0% increase (New job) Year 2: 1% increase (New job) Year 3: 2% increase (Same job) Year 4: 45% increase (New Job) Invest in yourself but don’t forget to collect on the other side. It's your job to get for what you deserve. Even if that means moving to a new role or company. As your value increases, so should your pay check. Don't settle.

The hardest truth: If you start with a low salary, you'll probably need to switch jobs to earn more. The hardest truth: Many companies have very low appraisals % and broken promotion processes & promises A low appraisal on a low salary means even less money in the future. That’s why many Techie who started with low pay switched jobs frequently to get higher salaries If you’re stuck in a low-paying job: If you can’t get a raise or promotion internally, think about switching jobs frequently. Salary matters: Your pay should match the amount of work you do. If you prefer to work more, make sure your salary reflects that effort. At last, you are responsible for your own career: IF YOU ARE STILL UNDERPAID, IT'S YOUR FAULT. "So enhance your skills, switch jobs frequently, get good pay you deserve" "Yes,, enjoy your life to the fullest with gratitude & no complaints " #corporatesector #IT #mentorship #motivation #appraisal #promotions #salarymatters #linkdln #jobhunting #techie #youdeservethebest #mindsetshifting #careerguidance

𝗣𝗲𝗼𝗽𝗹𝗲 𝘀𝘄𝗶𝘁𝗰𝗵 𝗷𝗼𝗯𝘀 𝗷𝘂𝘀𝘁 𝘁𝗼 𝗶𝗻𝗰𝗿𝗲𝗮𝘀𝗲 𝘁𝗵𝗲𝗶𝗿 𝗽𝗮𝘆 𝘀𝗰𝗮𝗹𝗲. 💼 𝗜𝘀 𝗶𝘁 𝗯𝗲𝗰𝗮𝘂𝘀𝗲 𝘁𝗵𝗲𝘆 𝘀𝘁𝗿𝘂𝗴𝗴𝗹𝗲 𝘁𝗼 𝗻𝗲𝗴𝗼𝘁𝗶𝗮𝘁𝗲 𝘄𝗶𝘁𝗵 𝘁𝗵𝗲𝗶𝗿 𝗰𝘂𝗿𝗿𝗲𝗻𝘁 𝗲𝗺𝗽𝗹𝗼𝘆𝗲𝗿𝘀? Switching jobs continuously may increase your pay scale but doesn't increase your reputation, respect and position as a part of the company. Building trust and offering responsibilities takes time, efforts and patience. You might not want to leave a well cultured company just for a pay raise but sure you don't want to stay with the current wages as well. Negotiation is a crucial skill that can help you achieve your desired salary and benefits in the same organisation without making a switch. Remember, it's not always about switching jobs to get what you want. Develop your negotiation skills and take control of your career growth. Over the last 8 years, I have been able to do it successfully, working in one organisation for 5 years 𝗮𝗻𝗱 𝗼𝗻 𝗺𝘆 𝘁𝗲𝗿𝗺𝘀. 𝗜 𝗮𝗺 𝗹𝗼𝗼𝗸𝗶𝗻𝗴 𝗳𝗼𝗿𝘄𝗮𝗿𝗱 𝘁𝗼 𝗰𝗿𝗲𝗮𝘁𝗶𝗻𝗴 𝗮𝗻 𝗮𝗰𝘁𝗶𝗼𝗻𝗮𝗯𝗹𝗲 𝗴𝘂𝗶𝗱𝗲/ 𝘄𝗼𝗿𝗸𝘀𝗵𝗼𝗽 𝗼𝗻 𝘁𝗵𝗶𝘀 𝘁𝗼𝗽𝗶𝗰, 𝗰𝗼𝗺𝗺𝗲𝗻𝘁 𝗶𝗳 𝘆𝗼𝘂 𝗮𝗿𝗲 𝗶𝗻𝘁𝗲𝗿𝗲𝘀𝘁𝗲𝗱. #negotiationskills #careerdevelopment #jobgrowth #negotiation #businessgrowth #careergrowth

My base salary progression in the first 11 years of my career: Year 1: 0% increase (New job) Year 3: 11% increase (New job) Year 5: 20% increase (Same job) Year 7: 33% increase (New Job) Year 9: 3% increase (Same Job) Year 11: 73% increase (New Job) Invest in yourself but don’t forget to collect on the other side. It's your job to get for what you deserve. Even if that means moving to a new role or company. As your value increases, so should your pay check. Don't settle.

Is That Big Salary Jump Worth It? In today’s job market, it’s tempting to ask for a 30-40% pay increase when switching jobs. But before you name a big number, consider this: if you’re worth that much more, why isn’t your current employer already paying you? Reality Check: Average salary increase for new jobs: 10-20% But demanding such a high jump can backfire. Employers might pass you over if they think you’re out of touch with market realities. And if your current company truly values you, they should already be paying you closer to what you’re worth. If not, it might be time to have a serious conversation about your role and future there. Key Points: Don’t Just Think Money: A big salary boost is appealing, but it shouldn’t be the only factor. New challenges, learning opportunities, and job satisfaction are just as important for long-term success. Prove Your Value: Focus on delivering strong results where you are. If you’re truly underpaid, time to leave. Consider the Bigger Picture: Moving for more money can be smart, but also think about what you might leave behind—relationships, company culture, and the progress you’ve made. Before jumping ship, consider whether you can achieve your goals where you are, or if a new role might offer the growth and challenges you need. Sometimes, the rewards—both financial and professional—will follow if you focus on proving your value and growing in your career.

Whether you want to aim for a promotion or looking to land a new job...negotiating a higher salary should be at the top in your list. 💵⁠ ⁠ Why? ⁠ ⁠ Because you know you are worth 10 times more than what you're earning now. 🚀⁠ ⁠ Don't be comfortable working in a job that doesn't value your skills, has zero career progression, and hasn't given you a pay rise in years.⁠ ⁠ Having consistent pay raises not only boosts your self-esteem but also proves that you're a valued part of the company. 🚀⁠ ⁠ So if you're looking to get a pay rise, now is the time to plan the steps you need to take in order to reach your goal.🎉⁠ ⁠ If one of your goals is to have a higher salary which will give you financial independence and career satisfaction, then I have your first small step to help you....⁠ ⁠ For similar content, follow me here 👉 Meghna Gandhi ✍️

‘What’s my value?’ This is especially hard when you are moving industries, career changing, etc. You don’t want to price yourself out of the market. You also want fair pay. (I’m a big advocate of this). First thing is to identify salary scales for your country and the job title you are considering. If you don’t have specific experience in that industry, you’ll need to consider the lower salaries. You will need to consider the company size. A start up will not be paying too bucks (typically). A bigger company may have more scope, but very popular brands may also have the power to attract talent which means competition. What salary are they advertising? This will give you a strong idea of the budget they have. For changers, expect the lower range. ‘How can I negotiate?’ Consider discussing other benefits - holiday, pensions, performance bonuses, shares… Consider asking for a 6 month review. If you meet performance targets, then a salary increase comes in. Remember that companies are taking a risk on you and you on them. You need to pay bills and they need to be confident their investment in you will pay off. That includes more than just your salary, but onboarding costs, trainining and risk. The current job market is scary for everyone, even employers. There are several experts in my network and I hope they’ll add some ideas. It may be worth setting up a consultation with one of them if you are finding yourself lost. Always make sure it’s industry and country specific advice. #SalaryNegotiations #FairPay #JobSeekers