Post
Career Advice
2mo
an it head
Managing Financial Stress After a Job Change
I switched jobs two months ago, moving from Kolkata to Mumbai with a 40% salary hike. While the decision was partly to escape the toxicity of my previous workplace, it also came with the hope of a better future. On the positive side, my mental health has improved, and I genuinely enjoy the new role with its higher responsibilities and learning opportunities. However, the higher cost of living in Mumbai—especially rent and daily expenses—has essentially nullified the hike. Financially, I’m in the same spot as before, and with my family set to grow soon, I’m starting to feel the pressure. Since I’m in a senior management role, switching jobs isn’t as straightforward, making my situation even more challenging. It’s also too early to expect a raise in my current position. Has anyone faced a similar challenge? How did you manage it? Any advice would be greatly appreciated!
a deputy manager
2mo
Been through the same situation and trust me its very difficult to get out of it unless you have a plan for it or else you will always be in the same loop of struggle. Try noting down all your finances and debts and make a plan to finish it before its too late. comment here if you need more help to tackle this
cerealkiller
2mo
Welcome to Mumbai, the city where your dreams get bigger, and so does your rent😅
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dadiji
2mo
works at
Mumbai ka hidden TDS (Terrible Daily Spend) can really hit hard.
shininghuman
2mo
works at
One should plan their expenses carefully before moving to a new place or city. If it’s Mumbai, it’s important to ask for a higher salary hike due to the high cost of living. However, now that you’ve already moved, try to cut down on daily expenses and adopt a simple, minimal lifestyle.
an operations executive
2mo
It's nice that your health has improved but i would suggest that when you will plan your next switch give a thought about relocating to a more affordable city or negotiating a remote work arrangement.
praveen321
2mo
works at
Switch your company again, in my 14 years career, i have switched more than 8 companies So whenever you feel it’s challenging go for next company
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farfromhome
2mo
I agree it may not be the outcome you hoped for and financial anxiety after having moved to Mumbai can be really taxing. Here are a few things you could do from my experience: 1. Accepting the reality that you have to stick with the current inflow until you find a better option in the future. It could be a few months or years. 2. Don’t focus on the things beyond your immediate control - salary, rent, prices etc 3. Focus on things you could control- moving to suburbs of Mumbai for a much lower rent. Borivali and beyond if you are working in Mumbai is not bad considering metro, road and train connectivity. Plan your grocery shopping from local markets which are much cheaper than shopping apps- good quality fruits and vegetables are dirt cheap near stations and local markets. In mumbai, you cab either save time or money and your situation demands you focus on financial planning to align with Mumbai and as your salary grows you can think of upgrades. All the best!
aks473
2mo
I really wish Kolkata had grown it's IT capital. Cost of living is well in control in that city. IMO, after sometime, you should have a candid discussion with your boss regarding the same and I'm sure if they value you corporate can do some market adjustment. If not i would suggest you to be in market and try to get an offer and then a counter offer within this org. In my opinion senior management folks should always be in the market bcz a senior role always takes an average 4-6 months in conversion and with current market situation if an org is management heavy then you could imagine who gets impacted without a second thought.
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joyfulpepper
1mo
Kindly move back to Kolkata. Mumbai is mechanical.Don't run after money. You wont understand how time will fly here after running after money without realizing that you have lost precious time to spend with your family
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fulfillingfettuccine
1mo
currently not working
can you try building a side business in your weekends? this can boost your confidence and help you make more money