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Old 17th July 2008, 14:55   #61
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Originally Posted by tsk1979 View Post
Stay away from a company who asks for a bank Guarantee!
Explore syntel, if nothing works out, then MBA is the only option.
My views Exactly.

Two Lakhs worth bank guarantee for what?? Rubbish I say.
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Old 17th July 2008, 15:02   #62
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Generally it is the company that pays the employee. Any company that asks money from the employee is running some scam, no matter how big and reputed. So keep away from it.

Syntel option can be explored, but they are basically a body shopping company.

MBA right now is not a good idea. I am also BE+MBA, it is better to do MBA after few years.
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Old 17th July 2008, 15:03   #63
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Originally Posted by maddy42 View Post
Well syntel is a nice company for freshers as the exposure got is good but the prob we are facing is that there are many people on the bench. Well its all a matter of luck in syntel as i know many who have a very hectic schedule too.
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Originally Posted by tsk1979 View Post
Stay away from a company who asks for a bank Guarantee!
Explore syntel, if nothing works out, then MBA is the only option.
Quote:
Originally Posted by Technocrat View Post
My views Exactly.

Two Lakhs worth bank guarantee for what?? Rubbish I say.
Exactly. Its daylight robbery.

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Originally Posted by condor View Post
My first choice, where possible, would be to work may be a year or two & head to B-School after that. Gives a very different perspective of what's being taught in the B-school.

In this case, if a good job offer is not coming around, she could head back to school and finish her studies in one shot.
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Originally Posted by deepaktpatil View Post
Things dont always come on a platter, if that happens then get her to Bangalore (I see bangy in your profile) and admit in one of the CAT institutions for MBA admission preparation, one year is not a big deal.
Deepak I agree with you there but am just concerned that if the market is moving towards a slump now, next year is something I just cant predict. Guess its more of a case of "protectetive brother syndrome "

Well guess it is heavily leaning towards Job and then an MBA.
Let me check in a couple of places if there are openings for freshers, maybe she can try somewhere else too.
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Old 17th July 2008, 15:06   #64
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I would say start working and MBA would be great after getting some work exp, satyam would be a big NO NO with their bank guarantee, Hewitt & a few other Co's in NCR are hiring big time, send me the resume and i can pass it to some contacts there
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Old 17th July 2008, 15:14   #65
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The IT market for freshers now is not great. Contrary to what most others here say, I would suggest getting into Satyam, if the finances work out. Being an ex-Satyamite, it is a great place to work for freshers and has a decent brand image, as I found out later on.

Doing an MBA from some xyz b-school now is next to useless. It is best to do it after 5 years or if she gets into a better b-school.
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Old 17th July 2008, 15:15   #66
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I am not sure that a bond can be legally enforced. I have heard about TCS as another company which has tried to enforce the bond(may be w/o a bank guarantee)..anybody with any experiences on that? is the bond legally tenable? what happens when the employe leaves before the tenure of the bond expires?
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Old 17th July 2008, 15:21   #67
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The thing is this is not just a bond. Its a bank guarantee which essentially means that the money is blocked. And if laid off the money is gone, whatever the reason.
Thats why I am a little skeptical.
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Old 17th July 2008, 15:35   #68
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Most companies now a days are taking Bank Guarantee from freshers and please dont think its day light robbery but there are reasons behind it.

All freshers have a bond for 1 year and incase you leave the organisation within a year then the Bank Guarantee is activated. Do note top IT companies spend 90-100 days for initial induction and training; the training cost for a batch of 60-100 people goes to the tune of 12-14 Lacs. Most of the time freshers leave as soon as training gets over they either move back to their home town location or go in for higher studies, these bond just help recover training cost.

Though i agree that 2 Lacs is a big amount as i know that companies do take not more than 75K. The bond is not legally valid, as in India we do not profess bonded labour; the Bank Guarantee is activated only if you intend to leave incase if you are asked to go then the money is not touched by the organisation.

I suggest that you allow your sister to look in at the Satyam opportunity incase if its financially viable and go in for the MBA with a better B school 2 years down the line.

Thought the present market senarios are not so great, I guess Satyam may not lay off resources in the near future as they are picking up a lot of senior resources from the market.
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Old 17th July 2008, 15:42   #69
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Ask her what she wants to do?
  1. Travel around the world (If USA is the world!)
  2. Get a 9-no specific time fixed job?
  3. Get back stabbing peers (to go onsite)
  4. Get a salary which is almost the same as a non techie (No Engg.)
OR:
  1. Take up the MBA course and learn and explore life
  2. Wait for the campus recruitment's to begin at the end of the course. Its the same companies that would come to hire her, but with a lot more moolah.
  3. Join directly at the managerial level
3rd Option which I have used:

Take up the job and post 2 years of work ex, take up part time MBA. You make good contacts in the industry and the MBA degree too. The only negative factor here is that she would be left with no time on weekends (due to college lecture).

Let her think!
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Old 17th July 2008, 15:43   #70
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Thanks Hurrycane. I understand how the bond scenario works, having enforced it myself in some of the organisations I have worked for. I have worked with the training teams for some of the top organisations and I understand bonds. The only thing that concerns me is that there is a clause that says the bond will be enforced even if the person is laid off . Thats my only reason for concern. Let me check the offer letter once more and confirm it.
I was all in for her joining Satyam, just that this clause seems very dicey to me.


@Amtak - lol , i like the way u put it but then she is a lil unsure of what she wants to do herself so wants to go with what is a better deal in my opinion. I am as confused now so wanna get your opinions to help me decide.
The thing is the MBA college is just about ok, so just thinking before we put the money there.

Last edited by sammyboy : 17th July 2008 at 15:47.
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Old 17th July 2008, 16:01   #71
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Another suggestion:
Basically any LARGE company like infy/satyam etc are really all about getting lucky with your posting or doing jugaad (as my friends/cousins in TCS have tried) or wasting a few months in a bad division because normally a fresher has zeor line of sight to a good team's leader.

So that combined with bank guarantee makes satyam evil.
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Old 17th July 2008, 16:13   #72
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Originally Posted by sammyboy View Post

The thing is the MBA college is just about ok, so just thinking before we put the money there.
The college is just about OK now. You never know where the college's rating might be by the time she finishes her MBA. It could be among India's best. Currently my college's rating is among India's top 40 colleges and I am fine with it. What matters the most if the college is amongst the best in your area (Delhi for e.g) as most of the companies would be from local area.
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Old 17th July 2008, 16:17   #73
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Originally Posted by Hurrycane12 View Post
the training cost for a batch of 60-100 people goes to the tune of 12-14 Lacs. Most of the time freshers leave as soon as training gets over they either move back to their home town location or go in for higher studies, these bond just help recover training cost.
I completely disagree man. While the estimates on cost are a bit on the higher side, the rationale is like the corporate HR: exploitative.

Logic is as follows:
a. Any company typically sends middle/top management for international training spends easily 1-2Lakhs per person. Not to mention similar hajar expenses. And the shelf life of a typical middle manager? 2 years tops. (median - let's not get carried away).
b. 2 lakhs is exploitative any which way.
c. Most big companies often do not ensure aspirations are factored well. If today a guy gets a good job in a company that allows the quality of work/team/domain he wants, why should he be stuck in satyam doing mainframes when kernel coding is all his heart is in. People hardly can choose their career directions well enough and instead get allocated like any resource.
d. Tomorrow even if one goes for MBA, I know for a fact many friends from TCS were not given their leaving certs/no dues properly. While the HR lovingly changes jobs at will.

And a company is big, it should take care of its finances and plans. Only small companies are okay in putting such fundoo ideas in place.

I personally would've never given such a guarantee.

Last edited by phamilyman : 17th July 2008 at 16:20.
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Old 17th July 2008, 16:22   #74
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Do double check on the clause if the bond is activated on lay off than i dont think its worth it. Incase your Sister is not very inclined to the IT industry than i suggest she has a look in at the Retail and Infrastructure Industries.

MBA is always a good option only after 2 years of work exp.
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Old 17th July 2008, 16:33   #75
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Originally Posted by phamilyman View Post
While the HR lovingly changes jobs at will.
I beg to differ here. As is the case with techies, even the HR folks are treated as slaves in IT companies. Imagine the nos of people employed as compared to the nos of HR in the company. When my friend was in HR (on contract) at a large IT company in pune, the ee strength there was about 4k and the nos of people in HR were 7 excluding the HR business partners.

Even I am HR walla (Admin now), and I think that people feel that HR doesn't have any work. In fact, this is the area where HR people are expolited. If a techie gets 12K, the HR guy (on the company rolls) gets between 4-8k and works for the same time. Housekeeping in these IT companies gets 4K and the HR about 5K (fresher). Moreover, his OT normally does not get approved as the management feels its not needed for HR folks. And the IT company I am talking about is amongst the few that is agreesively advt. these days.

Last edited by amtak : 17th July 2008 at 16:35.
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