What am I doing wrong?

[seditthis]

Hey everyone,

I've got a tale to tell, and I need your expertise. I'm a 24-year-old hustling in SaaS Sales for a fanous bengaluru fintech startup, bringing in 12L fixed and 4L variable, with ₹85k landing in my bank account each month.

Here's my journey so far: acing high school PCM, conquering JEE Mains, then veering into a Literature degree at DU. After some twists, I found myself in marketing, pulling in 6LPA post-grad for about a year. Went ahead to pursue MBA from a tier 2 college in 2021, landing me my current b2b sales job in Bengaluru.

Fast forward to today, and I'm in this bustling startup scene, but Sales isn't clicking for me. My colleagues earn more than me with same r&r but better pedigrees.

I want a significant hike. Should I switch gears? Maybe pursue an exec MBA or dive back into law studies?

So, if you've got insights, tips, or advice, I'm all ears. I just want to do better financially.

Expenses: rent (16k), cook, househelp (4k), groceries, utilities (6k), and miscellaneous expenses (4k). Oh, and I'll be starting on that education loan soon—another 12k a month from August '24.

Financial Goals: Secure a 3bhk for my folks in Delhi, cruise in a sedan, clear that 12L education debt, clear dad's 20L home loan and hit financial freedom by 32. And yes, starting my own venture is the ultimate dream.

TL;DR: 24M in Bengaluru startup Sales, earning 12L (f) and 4L (v) annually. Been all over the place academically before landing in B2b Sales. Seeking advice on career switch or further education for monetary advancements.

 

[sab]

@seditthis This honestly isn’t the best sub for career advice or industry-specific knowledge on how to increase your salary income. The best thing we can say is that yes in your 20s, the most important thing is to focus on upskilling and bringing in more money. Everything else falls into place after that.

Without a massive salary jump, yes many of your goals (specifically financial freedom by 32 and a 3bhk in Delhi) will be tough to achieve. Good luck!

 

[seditthis]

@sab That's true, I'll research more about the upskilling paths I can take from here.

 

[crs_7]

@seditthis One thing you're doing wrong for sure is posting this question in this sub.

 

[summertt5]

@seditthis What does this have to do with personal finance?

 

[cantplayalick]

@seditthis Like other people have already mentioned, this is mostly a personal finance sub, and your question is veered more towards your academic and career goals. I'll still try answering with that perspective.

Only you can be the best judge of whether a specific career path is for you or not, I always thought CSE would be my thing, but I also enjoyed people skills. So despite a good placement from NIT, I went to do an MBA and currently in sales and marketing. Given the IT boom of 2021, I may have been making more money in IT, and I never would have taken a loan for my MBA, but I feel like I'm happier in this career line.

So while I admire your goals of being financially independent by 32 and buying a house for the folks, I really think you should prioritise where you want to work at. You're at a good package for your age, so build up your savings and switch industries if that feels right.

However be informed that good exec MBA programs require you to have 3 or 5 year work experience.

 

[ffreplica515]

@cantplayalick Bro you just spoke my heart.

I did CSE but was always interested in people skills.

Did an MBA and now in Marketing.

I have never regretted not going into IT given the boom. I do sometimes wonder though, but am back to my sense in like 2 mins.

Choosing your profession is a long term thing. If you really don't enjoy what you're doing, it will be tough to do it over the long term.

 

[seditthis]

@cantplayalick I read about the CTC people were talking about in this sub and thought should post this question as they could answer what I can do to improve my finances.

I feel that I should expose myself to different roles to understand what I really love to do.

Thanks for the advice man!

 

[cantplayalick]

@seditthis Well then that's fair! r/Indianacademia has a lot of career and studies related advice, you can check them out too.

Good luck!

 

[bensherie]

@cantplayalick Here's a sneak peek of /r/IndianAcademia using the top posts of all time!

#1: Virus was right in 3 Idiots.

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[seditthis]

@cantplayalick Thank you so much, I'll try to explore that sub.

 

[paulclays]

@seditthis “Literature in DU”

You have answered your own question. There’s no way you can achieve FI with a humanities degree and mindset - I’m sorry to say, but that’s how the world is.

Arts will also be dominated by tech players as we go along and STEM is the only way forward if you want to make money. Since you’re already in fintech, try getting a couple of certifications or even do another MBA focused on finance from a Tier-1 (IIMC is the best for finance).

Either way, 16LPA for a 24-year old is a really good package in India. So don’t be dejected.

 

[seditthis]

@paulclays Haha I agree. Although I can still code and can learn anything someone with an engineering degree can do, I still believe having the proper degree could have been a game changer.

I feel I should try for some advertising agencies, where I can use the amalgamation of my literature and marketing degrees.

 

[paulclays]

@seditthis Advertising is dead, bro. Look at what Sora from OpenAI can do.

 

[seditthis]

@paulclays Just checked, crazy stuff. Maybe I can try publishing houses, they're diversifying and incorporating AI in their workflow.

 

[braydeno]

@seditthis Advertising indsutry isn't big on Salaries. SaaS Sales folks who get comission on 6,7 figure $ deals do touch a crore in comp at 5 -10 YOE. It depends on a lot on the company and deal size.

IMO you seem to be doing good for your age.

 

[staysafe]

@seditthis I just joined this sub and this is the perfect question I want the answer too. Will be following this comment section

 

[seditthis]

@staysafe Haha yesss!

 

[broski]

@seditthis " Comparison is the thief of joy "

 

[seditthis]

@broski Yes but I wanna travel anywhere I want without thinking about it twice. It's always been my dream.