Truth behind CRORE package | Harkirat Singh salary revealed

Podcast with Harkirat Singh: Salary Insights and Industry Trends

Introduction to the Podcast

• The podcast is conducted in Hindi, with a light-hearted tone about the host's Hindi proficiency.

• The episode features Harkirat Singh discussing his salary and various industry topics including AI, job market trends, and recession impacts.

Earnings Breakdown for 2023

• Harkirat reveals his earnings for 2023 are close to 5 crore INR, with a breakdown of components:

• Pure cash: 1.6 crore INR (approximately $200K).

• Equity from the company valued at around $200K.

• NFTs as a financial instrument contributing significantly to his wealth.

Discussion on Job Market Trends

• The current job market is described as disrupted; however, full-stack development remains a strong option for freshers due to numerous startups thriving.

• Remote jobs are noted as challenging but achievable; they require significantly more skills compared to traditional roles.

Importance of Data Structures and Algorithms (DSA)

• DSA is emphasized as crucial for job applications in India but less so for positions abroad.

• A live DSA batch is being offered starting April 30th, along with an additional LLD course taught by an experienced Google engineer.

Insights on NFTs and Their Volatility

• Harkirat explains NFTs' nature as volatile financial instruments, comparing them to Bitcoin. He shares personal experiences regarding their value fluctuations.

• He discusses how employees had options to buy NFTs during their company's launch, highlighting significant potential gains despite inherent risks associated with such investments.

Career Journey and Current Job Market Insights

Early Career and Income Growth

• The speaker graduated from an IIT, securing a campus placement with a lucrative package of 31.5 lakhs, which included base salary, equity, and joining bonuses.

• After working for a year and a half at Goldman Sachs, the speaker transitioned to freelancing full-time, experiencing significant income growth from 50 lakhs in the first year to 1 crore in the second year.

• The discussion shifts to current job market conditions, highlighting that while high salaries are still possible (30-40 lakhs), achieving them has become more challenging due to economic disruptions.

Skills Required for Employment

• The speaker emphasizes the necessity of providing substantial value to potential employers; simply having basic skills is no longer sufficient.

• Full-stack development is identified as a promising area for freshers; however, competition remains fierce due to numerous applicants vying for limited positions.

Opportunities in Startups

• There are many startups in Bangalore actively hiring engineers despite economic challenges; some have raised significant funding recently.

• Companies like Coinbase are mentioned as examples of firms offering competitive salaries (30-40 LPA), indicating that opportunities still exist even during recessions.

Remote Work Considerations

• Remote jobs present unique challenges since candidates face competition from global talent pools; thus, higher skill levels are required.

• Joining rapidly growing companies ("blitz scaling") can provide valuable learning experiences and potential financial rewards through equity options.

Benefits of Open Source Contribution

• Contributing to open source projects can help individuals assess their capabilities and improve their skills before entering the job market.

Understanding Open Source and Job Hunting in Tech

The Value of Open Source Contributions

• The speaker discusses the importance of genuine contributions to open source projects, emphasizing that simply making minor changes for visibility (like "making the profile green") does not significantly enhance job prospects.

• They highlight that many web3 and AI protocols are open source, allowing individuals with basic programming skills to read and understand the code, which is a valuable learning opportunity.

Roadmap for Remote Jobs

• The speaker shares insights on how beginners can approach remote jobs by aggressively building projects based on provided ideas, noting that motivation is key to success.

• They mention that successful candidates often create numerous projects (30-40), showcasing their skills through practical work rather than just theoretical knowledge.

Essential Skills for Job Seekers

• Key attributes for aspiring tech professionals include writing maintainable code, good communication skills, and being adaptable to different time zones.

• Twitter is identified as a more effective platform than LinkedIn for job hunting; many opportunities arise from direct interactions via Twitter DMs rather than traditional job postings.

Insights on AI Tools in Coding

• The discussion shifts to AI tools like Devin AI and GitHub Copilot. While Devin AI has gained attention due to marketing efforts, it is suggested that its functionality may not be groundbreaking compared to existing tools.

• The speaker argues that while these tools can enhance productivity, they do not necessarily lead to fewer job opportunities; historical advancements in coding tools have not resulted in significant layoffs.

Future of Coding with AI Integration

• There’s speculation about whether increased productivity from AI will lead companies like Google to adopt new technologies or potentially reduce their workforce.

Discussion on Job Replacement and Market Trends

The Nature of Work in Engineering

• The speaker reflects on the balance between coding (30-40%) and other engineering tasks (60-70%), emphasizing that engineering roles encompass more than just programming.

Predictions on Job Replacement

• Concerns are raised about job replacement due to automation, particularly in video editing and scriptwriting, which have not yet materialized despite predictions.

• The speaker notes that initial freelancing jobs may be impacted as clients could opt for AI tools like ChatGPT instead of hiring freelancers.

College Students' Mindset

• Many college students have a narrow focus on predefined career paths and salary expectations, often stressing over achieving high packages from top companies.

Career Choices and Learning Opportunities

• The speaker shares personal experiences of prioritizing salary over company reputation during college, realizing later that different choices could lead to better opportunities.

Strategies for Navigating Job Markets

• In the absence of campus placements, the speaker suggests creating products or competing in hackathons as ways to gain attention from potential employers.

The Importance of Skills Development

Pursuing Remote Jobs and Hackathons

• Emphasizes the value of remote jobs and participation in lucrative hackathons (e.g., Web3), encouraging students to explore these avenues for income.

Relevance of Data Structures and Algorithms (DSA)

• DSA is deemed important for engineers; good skills can prevent rejection during interviews. A solid understanding is beneficial regardless of whether one applies domestically or internationally.

Study Recommendations

• Encourages consistent study habits, utilizing various resources to prepare adequately for interviews while acknowledging the unpredictability of job outcomes.

Personal Interests Beyond Engineering

Hobbies and Creative Outlets

Investing and Personal Interests

Personal Preferences in Music and Teaching

• The speaker expresses a spontaneous desire to create a video, highlighting their love for Punjabi music, particularly artists like Karan Aujla and Diljit, the latter being noted as non-controversial.

• The speaker enjoys teaching in a relaxed manner, emphasizing that understanding the material is less important than the method of teaching based on first principles rather than rote learning.

Teaching Style and Engagement

• Despite feeling drained after four hours of teaching, the speaker finds enjoyment in conducting live classes, indicating a gradual appreciation for this activity.

• The speaker mentions playing table tennis (TT) and basketball occasionally, suggesting an interest in sports alongside their professional activities.

Investment Strategies

• When asked about investments, the speaker reveals their portfolio: 50% in cryptocurrency (not due to initial investment but rapid growth), 30% in NFTs, 10% in real estate (specifically a flat), 5% in cash or fixed deposits (FDs), and 5% in gold/commodities.