Meet 26-year-old MNC professional Puneet Wadhwa, who is in a tight spot. He has to make a choice between his well-paying job and his dream designation. He knows the latter won’t satisfy him financially and yet he still can’t make up his mind. “I work as a marketing manager and although I’m happy with my monetary package, I do not have job satisfaction in terms of my profile. I want to do something more challenging, but the compensation for the kind of work I want to do is very low. I am not sure if I should take a pay cut and focus on growth.”
Priya Chetty-Rajagopal, vice president, Stanton Chase International, says that a lot depends on the career stage at which one takes such a decision. She says, “I think at the entry level one should worry about neither the position nor the salary. Applicants should only look at the amount of value they can add to the organisation and what they can learn from their job profile. As for salary, you should look at the hygiene factor in your compensation for the work you handle and whether you are on par with your peers, who are at the same level. As you go up the ladder, salary becomes an important criterion and it should match your designation based on your competence.”
Many believe that one should focus on growth prospects. K Ramachandran, general manager, HR, Tata Consultancy Services, says, “When there is a choice between career and money, one should opt for a good position. There are many companies today, which attract employees with a good salary, but instead of looking at the monetary benefits, the employees should opt for a company which has a good standing and provides scope for learning and development. In a bid to earn more money, one should not miss out on upgrading one’s skills, as it’s only the skills which matter in the long run.”
Rajesh Kumar, a career consultant, provides a few pointers that one must keep in mind before taking the big decision. He says, “First, one must realise that the hierarchical levels may differ across organisations and it is easier to become AVP in certain organisations with hardly three or four years’ experience, whereas it is difficult to attain that position even after 15 years in another company. So if one is offered a high salary at a lower or different designation, this may affect your résumé. It can raise a lot of eyebrows as future potential employers may assume that the candidate gives more importance to financial gain than growth.”
Sushma Bernet, a corporate coach, says one should be able to strike a balance between good learning and returns for one’s hard work. “While choosing between a well-paying job and an ideal work profile, one must ask the following questions — what kind of roles and responsibilities are you going to handle? Are you going to do something different in the new company (i.e. diversification)? How big is the new company and the team size (in comparison to your previous company)? And last but not the least, what will be your growth path in the new company? At the end of the day, it all boils down to one’s individual priorities.”