This is a typical question I have seen lots of students talking about. If you ask this question to someone as a first-year student many will have their eye on that one guy who got the highest package in their college. All have been on that stage but somewhere or the other we know that only a few will get that highest package, and we promise ourselves that we'll be that one guy who will be the topper and get that package. But at that age, only a few know the actual reality of that package. Maybe some of you may not know this and get disappointed but I don't plan to sugarcoat the facts and just get started with the reality check of career options after engineering.
Any of the top companies like FAANG:
You must have heard that Microsoft offered around 50lakh per annum ctc package to some students and you must have made it your dream company, I have bad news for you. The reality is you won't receive a complete 50lakh in hand. Let us break down this 50 LPA. Here base salary is around 7.08 lakh(Taxable), a joining bonus of around 5 L, allowances will be around 7.92 L and the stock award of 28 L(Taxable). And I think stock awards are applicable only for up to 5 years. After proper calculations, you'll be earning around 1-1.5 lakhs per month which is great, no hate towards it but not up to that hype of 50LPA, like earning 4 L per month. Working at these companies will surely give you some spotlight, recognition, and a decent salary. Many students aim to work at these companies, as they are sure that the company will not go down and they will be in a safer position but as we look at the current situation there's a mass layoff of employees from many companies including FAANG. But yeah working at these companies will surely highlight your portfolio as well. I'm not saying that it is not good but it's overhyped
Any companies:
Working in any other company can be a great choice as there are lots of companies you can go to. You can explore lots of things working here and it might be possible that the company you are working for becomes a huge company giving you a spotlight. These companies might also offer you more packages than the FAANG if you have a good amount of skills. Here there is also a chance of the company going down and losing the job, it can be a huge risk. But if you ask me then skills are the only thing that matters during recruitment(there are some exceptions) and maybe it is worth taking a risk in your early 20s.
Startup:
Starting your startup or working in a startup company is something I suggest most students should look into. Startups will increase the employment rate, they will solve society's problems and many more things. The key points of a startup are idea, marketing, connections and management. Many startups fail due to a lack of these mentioned things. I would suggest, having some experience working in a company before diving into a startup. And my major suggestion would be that don't be in a hurry to create a startup, instead, take an ample amount of time to figure out what problem you are solving, and how will you solve the problem. Getting a clear vision of your idea is half of the work done in any startup. The drawback of a startup is that maybe you'll be making less money, maybe you have to work as a night owl, and maybe you don't get settle real quick. But if everything works out well then there's no other job better than starting your startup.
Completely different route:
This category includes a large number of domains. This can be a great option who want to pursue their talent as a profession. An engineer has a lot of options while stepping out of college. And I would recommend this if you can't find coding interesting. Yeah seriously! Already it's a lot of depression in coding culture and if you can't enjoy writing code, sitting in one place for long hours, it would be a great choice if you consider other options.
"Koi dhandha chota nahi hota, aur dhandhe se bada koi dharma nahi hota"
is a best-suited line here. Lots of people find coding difficult and it's completely fine, lots of people are making tons of money while working in the field they like.
Conclusion:
Whatever path you choose it's a great start to your journey of being financially independent. I wish your journey goes as planned and fight till the very end, and if needed any help be sure to connect with me.
Happy Journey!!