Career Growth Path: From 4 LPA to 15-20 LPA - A Comprehensive Guide

Successfully landing a job at a Multi-National Corporation (MNC) like yours is a significant milestone. Congratulations! However, reaching an ideal salary of 15-20 LPA may take some time and effort. Here, we will explore how to achieve this growth within a reasonable timeframe, along with tips, strategies, and real-life examples from experienced professionals.

Factors Influencing Salary Growth

The time required to boost your salary from ? 4 LPA to ? 15-20 LPA depends on several critical factors:

1. Industry Standards

Some industries tend to offer quicker salary growth than others. For instance, the tech and finance sectors might present more opportunities for raises compared to other industries. Understanding the dynamics of your specific industry can provide insights into potential career growth and salary expectations.

2. Skill Development

Acquiring new skills, certifications, or advanced degrees can significantly impact your earning potential. Upskilling in demand areas can make you a more valuable asset to your employer, thereby improving your chances of salary increments.

3. Performance

Consistently exceeding performance expectations can lead to promotions and raises, making it crucial to maintain top performance and build a strong reputation within your organization.

4. Company Policies

Different companies have varying policies regarding salary increments and promotions. Understanding these policies can help you make informed decisions and take proactive steps towards achieving your salary goals.

5. Networking and Opportunities

Building a strong professional network can lead to better job opportunities that may offer higher salaries. Engaging with professionals in your field through networking events and online platforms can open doors to new career prospects.

General Timeline for Salary Growth

Based on various factors, here's a general timeline for achieving your salary goals:

Within 2-3 Years

If you are proactive about your career development, you might see your salary increase to around ? 8-10 LPA within 2-3 years. This can be achieved through promotions and skill enhancement. Focus on developing skills that are in high demand and consistently perform well in your role.

4-6 Years

With continued growth in experience and potentially changing companies, reaching the ? 15-20 LPA range could be achievable within 4-6 years. Changing companies often leads to higher salary increases due to competitive salary offers.

Recommendations for Career Growth

To help you reach your salary goals more efficiently:

1. Skill Enhancement

Focus on developing skills that are in high demand within your industry. This can include technical skills, soft skills, or certifications that are pertinent to your career path.

2. Networking

Attend industry events and engage with professionals in your field. Building a strong network can lead to better job opportunities and higher salary offers.

3. Performance

Aim for strong performance reviews to position yourself for raises and promotions. Consistently deliver exceptional work and seek feedback to ensure you are meeting and exceeding expectations.

4. Job Changes

Consider switching companies as this often leads to higher salary increases. Leverage job search platforms and engage with recruitment agencies to explore potential new opportunities.

Ultimately, while it’s possible to reach your salary goals within a few years, it will depend on your proactive efforts and market conditions. Here's a personal example from someone who has navigated this journey successfully:

A Personal Example

Starting at Accenture with a salary of ? 4.5 LPA in October 2021, I decided to explore other domains within a year. After preparing for data science, I got promoted to ? 5.5 LPA in an internal exam. Despite initial struggles in the data science domain, I continued to prepare. In May 2023, I applied for roles in EY, faced repeated failures, and eventually joined Fractal as an intern. Although that role was on hold, I kept pushing and finally secured a position at a data science company with a package of ? 16 LPA, CTC of ? 18 LPA, after 2.5 years of learning and preparation.

My journey underscores the importance of perseverance, continuous learning, and maintaining a positive attitude. Remember, achieving your goals requires hard work and divine blessings. Let the journey begin!

Har Har Mahadev!