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Old 7th May 2010, 11:26   #91
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Hike!!! what hike!!! they give hikes???? Oh lord why me !!! hehehe
dont know about the hike but management keeps looking at me in the strange way from the window that why the hell we have this guy on board??? hehehe

they believe in history so another sack of salt would not help me anyways!!

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Old 7th May 2010, 11:27   #92
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12% for me. The highest was 15% at my level. But looks like there will be some discretionary bonus and profit sharing
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Old 7th May 2010, 12:05   #93
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Appraisal process in my company for my group was completed yesterday.

I know my rating so i can make a fair guess of hike in my compensation which should be in range of 18%-22% and not to mention a promotion that is confirmed
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Old 7th May 2010, 13:04   #94
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A friend told me that he got 150% bonus and 30% hike!!! And their company is recruiting big time, has given even 40% to people who are joining. They need a LOT of people, looks like time to apply!!! I got to know the offer letter details as my close friend is in the staffing team who prepares the letters. He said for some skills they have got HUGE projects and they are giving whatever a candidate is asking( like in the early 2000 days)
Will not like to disclose the company details etc here, but you can guess.
Limited openings though so the early bird will get the worm for sure!
Ya I think I know about whome you are talking but let me clarify the 150% is Performance Incentive and it is 150% of gross monthy salary (not 150% of yearly as people will assume) , There are some other performance rewards through the year whcih are mostly to keep the key people and those who got lowe salary satisfied but are kept confidential and not mentioned in CTC or announced.

Also 30 - 40% are hikes at junior level ( SE, SSE) where some correction is applied. So to some others who were already getting the good deal the hikes may be 8 -10% in same band as well . At senior level the hikes are in range of 10 - 21 %.

No hikes to those rated 4 , 5 this year modest to those who kept consistant 3 for last 2/3 years and big hikes to those moving to 2 from 3 for 1 from 2/3 on performance scale ( 1 to 5)

But overall good thing here is that the PI and all other payouts are over and above the CTC mentioned on the paper unlike some others who give CTC including the incentive / variable pay.

And yes hiring in big numbers is correct news if you have right skills.
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Old 7th May 2010, 14:07   #95
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Originally Posted by amitk26 View Post
Ya I think I know about whome you are talking but let me clarify the 150% is Performance Incentive and it is 150% of gross monthy salary (not 150% of yearly as people will assume) , There are some other performance rewards through the year whcih are mostly to keep the key people and those who got lowe salary satisfied but are kept confidential and not mentioned in CTC or announced.

Also 30 - 40% are hikes at junior level ( SE, SSE) where some correction is applied. So to some others who were already getting the good deal the hikes may be 8 -10% in same band as well . At senior level the hikes are in range of 10 - 21 %.

No hikes to those rated 4 , 5 this year modest to those who kept consistant 3 for last 2/3 years and big hikes to those moving to 2 from 3 for 1 from 2/3 on performance scale ( 1 to 5)

But overall good thing here is that the PI and all other payouts are over and above the CTC mentioned on the paper unlike some others who give CTC including the incentive / variable pay.

And yes hiring in big numbers is correct news if you have right skills.


mkh was making April Fool. Read his subsequent posts.
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Old 7th May 2010, 15:37   #96
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mkh was making April Fool. Read his subsequent posts.
Well the description quite matched my organization for entry level people so does not look like an april fools joke. We got 150% of gross montly as PI and for few 30% hike ofcourse the hike depends on base salary so mostly it was in range I mentioned. Also the comp. is hiring big time :-)

But picture is not rozy for everyone in an performance oriented system, Bell curve is applied so 10% people have to be on 5 rating and another 10% identified for 4 rating. But managers can say that there are no non-performers so 4 and 5 raters are more like 10% of system put together.

So 0 hikes to non-performers to encourage them to leave and make way for fresh blood.

There is no firing but 5 raters are put on PIP ( performance improvement plan)
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Old 2nd June 2010, 15:04   #97
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Onset of June and the company I work for, started distributing hike letters. The range has been 5 - 16% and that has left most of the employees disgruntled. I wasnt expecting any but was surprised to receive 9% (have taken 20% salary cut during the recession and a 5% reversal recently).

What surprised me is the management response to the employees - openly stating that their business is better-off with freshers and experienced can walk away if wanted.
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Old 2nd June 2010, 15:10   #98
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What surprised me is the management response to the employees - openly stating that their business is better-off with freshers and experienced can walk away if wanted.
WOW, that company is going to loose some creed amongst the IT crowd.

They are shooting themselves in the foot if they think they can get away with such attitude.

Seems you need to look at the horizon again.
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Old 2nd June 2010, 16:01   #99
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What surprised me is the management response to the employees - openly stating that their business is better-off with freshers and experienced can walk away if wanted.
I have been witness to all these things & tell you the projects becomes shaky in the long run, a mix of senior & junior experience is required but at times the manager gets it wrong (e.g.) 12 year old exp person is replaced by a fresher or someone with 1-2 years. Poor freshers goes through bad time to get on top of things.

That is how the service companies make money, no wonder the s/w work get screwed up beyond repair.
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Old 2nd June 2010, 16:39   #100
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What surprised me is the management response to the employees - openly stating that their business is better-off with freshers and experienced can walk away if wanted.
That's sad. Any number of freshers can't replace someone who has been working on the project for years. I don't deny that freshers do have a role to play.

Why don't people in management understand that you can't deliver a baby in one month with 9 women .
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Old 2nd June 2010, 17:11   #101
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I have got a 20% hike! This will help me continue my travel to Taloja! On thing that I have decided is that I am not going to use this extra cash for any other purpose but only Savings.
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Old 2nd June 2010, 17:20   #102
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Originally Posted by amtak View Post
I have got a 20% hike! This will help me continue my travel to Taloja! On thing that I have decided is that I am not going to use this extra cash for any other purpose but only Savings.
Reminds of an old RK Laxman cartoon, where a wife tells her Husband that with the increase in prices, the only thing they can afford is to save the money.
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Old 2nd June 2010, 17:32   #103
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Not sure, but I think, you and I are in the same company as I also got my ratings in the first week of May here in Noida and my company also have an office in Hyderabad.
I maybe wrong, not sure.
Quote:
Originally Posted by mobike008 View Post
Appraisal process in my company for my group was completed yesterday.

I know my rating so i can make a fair guess of hike in my compensation which should be in range of 18%-22% and not to mention a promotion that is confirmed
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Old 2nd June 2010, 17:41   #104
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Not sure, but I think, you and I are in the same company as I also got my ratings in the first week of May here in Noida and my company also have an office in Hyderabad.
I maybe wrong, not sure.
Which company is this? Awesome hikes guys.
18-22% & 20% man, its like shifting a job.
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Old 2nd June 2010, 17:50   #105
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Originally Posted by Mr_Bean View Post
I have been witness to all these things & tell you the projects becomes shaky in the long run, a mix of senior & junior experience is required but at times the manager gets it wrong (e.g.) 12 year old exp person is replaced by a fresher or someone with 1-2 years. Poor freshers goes through bad time to get on top of things.

That is how the service companies make money, no wonder the s/w work get screwed up beyond repair.
100% correct.

I was moved to my current role as a replacement for a 12 year experienced guy who was sacked by company. My overall experience is was less than 6 years and relevant experience was 0 when I had to take over the role. Company being bitten the recession bug, I had no choice but move on to the role offered since noone else was available internally to accomodate this immediate requirement.

Later came to know I'm more than 50% underpaid compared to the previous guy who couldnt gel well with the role. My manager encouraged me telling I'm better than him but the pressure is undue handling such a senstive role without any experience.

Our company is yet to announce the revisions, praying it should not be single digit .
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