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Amid the galloping cost of living, urban professionals are caught in a dilemma — to either stay back in their current jobs or move on. As they struggle to keep pace with rising rents, childcare, and lifestyle costs, more employees across sectors are questioning whether their current roles are financially sustainable.
This trend cuts across industries. Even in traditionally high-paying sectors like finance and accounting, professionals are beginning to look elsewhere for better pay. According to the latest India Talent Trends 2024 report by ACCA, 65 per cent of respondents expressed dissatisfaction with their current compensation, and nearly half believe the only way to improve their salary is to leave their current organisation.
This is especially true in cities such as Bengaluru, Mumbai, and Delhi, where cost of living has soared. “Candidates today evaluate offers not just against market benchmarks, but also about real-world expenses like rent, childcare, and education,” says Anshuman Das, CEO and co-founder of Careernet.
Heightened urgency
While salary has always been a key factor in job changes, the urgency has heightened in recent years. Beyond finance, the tech sector has seen wage stagnation following the hiring boom of 2021-22. In banking and financial services, professionals are increasingly shifting to fintech firms and global capability centers (GCCs) that offer better pay for similar skill sets, Das adds.
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