3 Mistakes You Must Avoid In Your Career

Hey Everyone, I am Neha Gupta and I have been in IT for almost 5 years now, I have grown my career to 900% from where I started it, and it’s a huge growth for someone who has been from a tier III college and not having any coding knowledge initially. Here are the 3 Mistakes that you should never make in your career

The Opportunity Cost of Sticking to a Company for More Than 2?Years

If you are working in the same company you have started your career from and not growing, then there is no one else to blame other than you. One of the main advantages of being in the private sector is you can switch any number of times, which is your advantage.? Let’s do the maths to illustrate the potential loss of not switching jobs for 5 years.

Assumptions:

1. Initial income: ?5 lakhs per annum

2. Average annual growth in the same company: 7–10% (we’ll use 8.5% as a midpoint)

3. Average salary hike when switching jobs: 40–100+% (we’ll use 70% to calculate the value)

Scenario 1: Not Switching Jobs for 6 Years

1. Year 1: ?5 lakhs

2. Year 2: ?5.42 lakhs (8.5% growth)

3. Year 3: ?5.87 lakhs (8.5% growth)

4. Year 4: ?6.37 lakhs (8.5% growth)

5. Year 5: ?6.92 lakhs (8.5% growth)

6. Year 6: ?7.53 lakhs (8.5% growth)

Total earnings over 6 years: ?41.12 lakhs

Scenario 2: Switching Jobs Every 2 Years with a 70% Salary Hike

1. Year 1: ?5 lakhs

2. Year 2: ?8.5 lakhs (70% hike)

3. Year 3: ?9.22 lakhs (8.5% growth)

4. Year 4: ?15.71 lakhs (70% hike)

5. Year 5: ?17.04 lakhs (8.5% growth)

6. Year 6: ?29.04 lakhs (70% hike)

Total earnings over 6 years: ?95.01 lakhs??

Potential Loss:

By not switching jobs for 6 years, the potential loss is:

?95.01 lakhs (Scenario 2) — ?41.12 lakhs (Scenario 1) = ?53.89 lakhs

Over 5 years, not switching jobs could result in a potential loss of ?53.89 lakhs, just double what you earned while not switching jobs.

Note: This is the simple calculation there are multiple factors like interest you’ll get when you invest your earnings which can make this anount 2X, or 3X.

So If you haven’t switched yet, this is your time. Not Investing in Education, Leading to Growth?Stall

Not Investing in Education, Leading to Growth Stall

If you just did your education and took a job, and now you don’t spend any money on your education, I can say this is the most unfair thing you’re doing to yourself.

In your college, you spent 20–30 lakhs of fees to get a job and now when you have a job of 30 lakhs you’re not growing yourself, you’ll become outdated in this digital era, and you’ll be an antique in this world after few years with no value.

The Hidden Cost of Ignoring Company Environment

While joining a company you must and absolutely must check its environment how it treats its employees, and what is the team environment. You can thrive in every aspect of your life given a good and growing environment, but at the same place there is politics involved, colleagues are torturing each other, not respecting them doesn't matter how good you’re in your work, you can’t give your best, also not only your professional but personal life will also be in hell so choose your working place wisely.

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