Go Back   Team-BHP > Around the Corner > Shifting gears


Reply
 
Thread Tools Search this Thread
Old 29th March 2010, 21:03   #31
BHPian
 
Join Date: Mar 2010
Location: Mumbai
Posts: 106
Thanked: 20 Times
Default

Quote:
Originally Posted by mkh View Post
Lots of JUMPS are expected now, people who move usually are getting now 25% and above so its sure to happen. Strange that companies are willing to let people IN at 25% more than what they pay the guy who is leaving!!! Why not pay the guy even 15% more and retain him? i think its a calculated risk, lets see if the guy really moves or not, if not we got away with low expense, if yes, well maybe a risk worth it!!
The reason why most companies prefer to let go is that if they tried to deal with a person leaving by giving him more, then there will scores of others who will try and do so and expect to get a raise. Also companies always prefer some new blood - attrition is a good way of doing that. I know for a fact that if the attrition % gets very low, then HR gets asked and asks questions around why performance management in the company is not very effective.
milestogo is offline   Reply With Quote
Old 29th March 2010, 22:34   #32
BANNED
 
Join Date: Jan 2010
Location: Benga'loo'ru
Posts: 290
Thanked: Once
Default

Quote:
Originally Posted by Bhargava_sr View Post
My previous company did a 5% cut from april-2009 salary and no hikes since 2008, good part they gave it back 5% cut in Jan-2010 and no hikes again this year.
I moved to a different company to gain a 49% hike in my new salary ..
If am not wrong, you were working in HP?
FYI.. They gave back the 5% with good amount of hike too This was only for the people among top 2 rating. Other's din get the hike.

Also, after the hike and recession.. all lower rated people got sacked with 2 months of salary. Funny, they didn't sack people while recession, but did it after it was over

Last edited by Ranjan Sharma : 29th March 2010 at 22:44.
Ranjan Sharma is offline   Reply With Quote
Old 29th March 2010, 23:09   #33
mkh
Senior - BHPian
 
Join Date: Oct 2009
Location: Bangalore
Posts: 1,071
Thanked: 103 Times
Default

Decided to be in control of my own hikes a few years back- sounds strange, but started off with my own business with my wife and we got a 150% hike in our business income this financial year 09-10!!( that too in a bad bad year for businesses worldwide) So who cares about the hike at work
mkh is offline   Reply With Quote
Old 29th March 2010, 23:59   #34
Senior - BHPian
 
thedreamcatcher's Avatar
 
Join Date: Mar 2009
Location: Dubai
Posts: 1,206
Thanked: 61 Times
Default

Still waiting for mine. Joined a new company recently, so may not get too much. Lets see what happens.

Else, Supreme Baleno, give us the name of your HR person
thedreamcatcher is offline   Reply With Quote
Old 30th March 2010, 07:58   #35
Team-BHP Support
 
theMAG's Avatar
 
Join Date: May 2006
Location: Long Island, NY
Posts: 6,993
Thanked: 1,421 Times
Default

Gone are the days when IT was a lucrative proposition to work in. Its now been reduced to a production shop. While till 2007, employers were known to offer between 20-30% hikes as standard, these days its all about 6-8% on average.
theMAG is offline   Reply With Quote
Old 30th March 2010, 08:47   #36
Senior - BHPian
 
SPIKE ARRESTOR's Avatar
 
Join Date: Nov 2009
Location: Deutschland
Posts: 2,653
Thanked: 679 Times
Default

Nowadays job hopping would yield you better hikes when compared to regular appraisals, though it has its own downside.

Spike
SPIKE ARRESTOR is offline   Reply With Quote
Old 30th March 2010, 09:31   #37
BHPian
 
Punzabi's Avatar
 
Join Date: May 2009
Location: PB-08/Adelaide
Posts: 143
Thanked: 41 Times
Default

My company don't offer hikes, rather yearly bonuses. Our bonus is announced every year in Oct/Nov. Last year our division faired very well (read it extremely well) and everybody expected a nice chunk of cake but unfortunately company as a whole didn't perform well and we got appx 5% only (and the bloody taxman hogged on to a large share of this 5% too ). This year we are expecting a 7.5% bonus (Thank god company's performance won't be considered, only personal/divisional performance counts). Just had my performance review last week and I fell under "Exceeding Expectations" group which means "Upar Wala Jab Bhi Deta, Deta Chhappar Farh Ke"
Punzabi is offline   Reply With Quote
Old 30th March 2010, 09:44   #38
Distinguished - BHPian
 
amitoj's Avatar
 
Join Date: Nov 2004
Location: Nashua, NH
Posts: 2,947
Thanked: 1,584 Times
Default

Please help me understand how percentages can be used to compare hikes when base salaries are not the same?
Person A getting a 10% hike in salary while B getting a 15% hike can still mean that the increment in actual rupees is more for A than B. While percentages might make some sense at the org level or maybe the BU level, but at individual level, it all becomes relative to the base salary.

Anyway, i wont be able to post my hike or cut till mid of this year.
amitoj is offline   Reply With Quote
Old 30th March 2010, 12:08   #39
BHPian
 
Rotorhead's Avatar
 
Join Date: Sep 2006
Location: Bangalore
Posts: 925
Thanked: 17 Times
Default

Quote:
Originally Posted by Punzabi View Post
My company don't offer hikes, rather yearly bonuses. Our bonus is announced every year in Oct/Nov. Last year our division faired very well (read it extremely well) and everybody expected a nice chunk of cake but unfortunately company as a whole didn't perform well and we got appx 5% only (and the bloody taxman hogged on to a large share of this 5% too ). This year we are expecting a 7.5% bonus (Thank god company's performance won't be considered, only personal/divisional performance counts). Just had my performance review last week and I fell under "Exceeding Expectations" group which means "Upar Wala Jab Bhi Deta, Deta Chhappar Farh Ke"
That is a rather unique thing and first time ever i have come across such a concept. If you dont mind can you tell which industry are you associated with and are you really happy with this since over the years your base salary is always going to be same and the bonus is going to be subject to various factors.
Rotorhead is offline   Reply With Quote
Old 31st March 2010, 15:39   #40
BHPian
 
Join Date: Aug 2009
Location: US/India
Posts: 232
Thanked: 10 Times
Default

I got 25% yesterday. Very happy. Yeppies!!!!
naveenvenkatesh is online now   Reply With Quote
Old 31st March 2010, 15:45   #41
Senior - BHPian
 
sammyboy's Avatar
 
Join Date: Jul 2006
Location: Gurgaon/Doon
Posts: 1,711
Thanked: 290 Times
Default

Thanks to a major re organization just before the appraisal time last year and big politics in the new org, my entire bonus was wiped out last year inspite of my achieving some major milestones. Top management apologies dont help when the bottom line is hurt.
Hope this time it doesnt happen, else its hopping time.
sammyboy is online now   Reply With Quote
Old 31st March 2010, 15:48   #42
gpa
Senior - BHPian
 
gpa's Avatar
 
Join Date: Aug 2008
Location: Bangalore
Posts: 1,735
Thanked: 219 Times
Default

I may not have got a hike but the 15% salary cut that has been in effect since Mar 2009 for a full 12 months was revoked this month, which means something small to celebrate after all
gpa is online now   Reply With Quote
Old 31st March 2010, 15:58   #43
BHPian
 
Join Date: Feb 2010
Location: Chennai
Posts: 36
Thanked: 2 Times
Default

I got 15% hike, this is my first hike after 2years thanks to recession and me changing job at the wrong time. Happy with this hike as of now.
Addy81 is offline   Reply With Quote
Old 31st March 2010, 16:03   #44
BHPian
 
Join Date: Oct 2009
Location: New Delhi
Posts: 172
Thanked: 9 Times
Default

I can update this tomorrow as I will be receiving my letter!! LOL
akaushik is offline   Reply With Quote
Old 31st March 2010, 18:22   #45
MX6
Senior - BHPian
 
MX6's Avatar
 
Join Date: Oct 2009
Location: City of seven islands.
Posts: 2,882
Thanked: 207 Times
Default

Last year my pay went down by 23%. That was the rudest shock I ever got.

Keeping fingers crossed waiting for the letter this year. By the looks of it, it doesn't look promising.
MX6 is offline   Reply With Quote
Reply


Thread Tools Search this Thread
Search this Thread:

Advanced Search


Similar Threads
Thread Thread Starter Forum Replies Last Post
What deal did you get for Honda Civic 1.8S AT sudindra Indian Car Dealerships 2 4th December 2007 17:00
Did i get a good deal? Elito11 Tyre & Alloy wheel Section 5 31st October 2007 18:07
Did I just get ripped off? smartcat Introduce yourself 20 26th June 2007 19:17


All times are GMT +5.5. The time now is 19:16.

Copyright 2000 - 2017, Team-BHP.com
Proudly powered by E2E Networks