How much Hike % you need? Watch this to know Minimum % Hike you should get

I want to talk about something super important - getting a good hike in your salary! I've done a lot of research to bring you this video, and I've condensed everything into just 5 minutes.

So, let's dive right in. Ever wondered how companies decide your hike percentage? Well, most companies consider the inflation rate, which is based on the Consumer Price Index (CPI), during appraisal discussions. They might tell you that they're offering X% more than the inflation rate. But here's the catch - some companies might actually give you less than the inflation rate.

Now, let's talk about inflation in India. According to historical data, our inflation rate is around 5.5% to 6%. But here's the thing - this inflation rate is calculated based on a basket of goods and services, which includes things like food, clothing, fuel, and more. But does this really reflect your personal inflation?

For most of us living in big cities like Bangalore, Hyderabad, Mumbai, Kolkata, or Delhi, the cost of living is much higher. Let me break it down for you with some examples:

Education cost inflation: 12%
Food delivery services like Zomato and Swiggy: 8% - 12%
Medical inflation: 14%
Rent: 10% - 15%
Food inflation: 10% - 14%
Clothing: 4% - 5%
EMI: 4% - 5%
Other expenses like travel and recreational activities: 8%

Now, if we calculate our personal inflation based on our spending habits, it could be around 8.1%. But depending on your spending patterns, it could easily go up to 10% to 12%.

So, it's important to calculate your personal inflation every year and plan your finances accordingly. Remember, you can only save for the future if you can survive in the present. If your salary hike doesn't keep up with your personal inflation, it might affect your savings and investments. You might heard about step-up SIP. If you not able to beat your personal inflation you will do stepdown SIP.

So, let's start our financial planning from here. If you found this video helpful, don't forget to like and subscribe to my channel. I'll be back with more content on how to handle life financially.

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