Mumbai: Getting the first job offer is a time to celebrate; however, freshers in India consider current salary package offered by Indian Inc is not so exciting to celebrate. As per the JobBuzz.in survey on Gen Y and Gen Z, for freshers first job is not a happy hunting ground as first job salary package does not meet their expectations. Interestingly, 55% Gen Y and 53% Gen Z candidates weren’t even satisfied with their first drawn salaries.
Here it can be noted that Generation Y means candidates aged 21 to 32 years and Generation Z candidates aged 16 to 20 years.
As per The JobBuzz.in survey on Gen Y and Gen Z, most (36%) Gen Y candidate’s first paycheck was in the range of Rs 2-3 lakh per annum while 42% Gen Z got salary offer of Rs 3-5 lakh per annum in their first job. In addition, none of the Gen Y candidates got a package of more than Rs 10 lakh per annum but about 10% Gen Z did managed to land a job with fat packages.
As far as job role is concerned, Gen Y’ers were more satisfied with the role offered, claimed 61% Gen Y respondents. Further, 10% Gen Y professionals are still continuing with their first employer.
On the other hand, 57% Gen Z professionals stated they were satisfied with their first job roles but just only 3% Gen Zers were still with their first employers.
Better pay package is a major reason for leaving the first employer, finds the survey. Nearly 45% Gen Y and 58% Gen Z candidates left their first job within 2-3 years. On a question why they left, over 50% of both Gen Y and gen Z said the reason was better package. Better career growth opportunity (Gen Y – 42%, Gen Z – 46%) is second key reason for leaving the first job.
Nearly 50% Gen Y’ers said they were getting good appraisals and increments that made them to stay with their first employer.
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