I have heard folks will be getting 25-30% hike to match salary with inflation. This adjustment was overdue from longtime and it finally got approved. Has anyone else heard the same, if so will this happen at all level? TC : 120K YoE: 7 #finance #hike #inflation
Which country?
US
Not happening buddy.. layoffs more likely in finser/banking next Just reading the tea leaves.
Very unlikely. Both share price and economic prospects are down, I'd expect the bank to try and tighten its belt over the next year to prepare for economic downturn, just as the tech sector is doing. Last year they increased pay rises and bonuses to compensate for inflation, I can't see them doing that two years running. People who are personal favorites will get decent pay rises, but rank and file (ie *all* tech staff) will not. Remember, it's a bank, not a tech company, tech workers are not seen as key wealth generators, but rather as a cost. That's why all the tech workers are in a separate services company. If they can get your services cheaper from Accenture they will.
Let’s just hope they adjust like last year at least.
What sort of role? If you're only paid 120k for 7yoe, it might take a little more than a 30% raise to get an inflation adjusted salary!
I know bank pays peanuts..🥲