[somitra1981]

Originally Posted by deadguy25

Heard this about a colleague's friend -

Work experience - 8.4 years.
CTC - 32 lacs. Not sure if it is true.
Qualitfication - B.E (Mechanical)
Age of the person - 29-30

But then if it is true.. .

Makes me realise even more that i am underpaid, i'll have to shift 2 to 3 times to match that figure .

On a serious note there are a lot examples of guys who are not from top engineering or MBA institutes but are doing exceedingly well professionally, i can see only two reasons to it one is already mentioned by you other one is, being at the right place in the right time (i.e. getting a big break which dramatically alters your normal career progression curve).

[sgiitk]

The govt is deliberately delaying the DA (increase to 90% from 80%) effective from 1st July so as not to have to shell out with the September Salary. A very common trick, though as per the VI PC they are obliged to pay up. Obviously no interest is payable.

[KarthikK]

Originally Posted by deadguy25

Heard this about a colleague's friend -

Work experience - 8.4 years.
Expert in - Java (Core Java).
....
CTC - 32 lacs. Not sure if it is true.

But then if it is true.. .

It is not unheard of. Top sought-after product development companies usually don't compromise on pay as long as they're convinced that they are hiring the right candidate. Some of the top E-Com companies are known to hand out handsome pay packages to woo geeks, similar to the figures you mention. I don't think the BE grad area matters so much with most of these high-profile cos. They only insist on prior product development experience when hiring, and then there are the gruelling multiple rounds of hands-on coding interviews. If the coding fundamentals are strong and the candidate can crack the rounds well, that's about all the recruiters look for.

I do know some batchmates with ~5yrs of experience earning close to 25L CTC, none of them are from IITs or top colleges by the way. On the flip side, most of them do grumble about the severe (lack of) work-life balance now, but that's another discussion for another day .

[invincible7]

Well there are many example who are getting higher salaries due to varios reasons, some of them even due to their contacts in the higher management irrespective of fact that they qualify for the said job respobsibilities is a different story.

I for one believe there are very few options once you are set in you have worked for say more than 10 years, most the assignments or new jobs are sort through contact channels rather than directly, companies are themselves not that open to source directly untill they get it close through contacts.

[rohan_iitr]

Originally Posted by sgiitk

The govt is deliberately delaying the DA (increase to 90% from 80%) effective from 1st July so as not to have to shell out with the September Salary. A very common trick, though as per the VI PC they are obliged to pay up. Obviously no interest is payable.

This has always been happening since the 6th PC.

The DA hike is always announced a month and a half before Diwali and the 3-4 month DA arrears is made to look like a Diwali Bonus, which is provided in the salary of the month which precedes Diwali, just in time for the Diwali shopping.

Rohan

[lambuhere1]

Let the pictures do the talking

Source : http://profit.ndtv.com/news/economy/...e-otherstories

[sgiitk]

The economy will be turbulent till the Parliamentary elections.

[lambuhere1]

Scary 1929 market chart gains traction

Source : http://www.marketwatch.com/story/sca...ion-2014-02-11

[sgiitk]

At the moment all talk about recession is almost irrelevant. Elections can change all that. What we seem to be in at the moment is far worse - Stagflation, i.e., Stagnation + Inflation.

[penpavan]

Got this link from a friend, not sure to what extent we can trust
read on,

http://www.dnaindia.com/money/report...sector-1961931

[Samurai]

You treated Indians like resource widgets

That is a very funny comment. American IT companies have been firing their US employees for decades in order to move those jobs to cheaper countries like India. When Indian resources start becoming expensive, they will find another country and move on. Large companies will treat anybody as a resource, not just Indians.

[sgiitk]

Slightly OT:

The current market is confusing me no end.

We have a bank rate cut. Logically one will expect:


1. Bond prices to go up (ie lower yields).
2. ₹ to go down.
3. Markets to bounce up.

None of these has occurred.

In fact we are seeing the market in a crazy yoyo of say 300 points (on Sensex) a day!!

I am totally confused and lost.


Are we heading for the mother of all depressions?

[Saanil]

Originally Posted by sgiitk

Slightly OT:

The current market is confusing me no end.

We have a bank rate cut. Logically one will expect:

None of these has occurred.

I have had several arguments with my friends on this issue. Finance is not a science where some basic rules are followed like Newton's Law of Motion etc. I see that you are an engineer (like me) and given your mindset you try to look at things and analyze them using a framework.

I do not possess a lot of knowledge about finance/markets/economics but I know that it all depends on what people think will happen which is impossible to predict. There are no rules as such here which are universal.

P.S - In my opinion, I do not think we are heading towards a recession.

[ramzsys]

Originally Posted by sgiitk

I am totally confused and lost.

RBI man says

“We are under no illusion that the economy, especially investment, is up and running. It is not. It needs support. We are trying to use whatever room we have to undertake measures that revive the economy,”

source: http://www.exchange4media.com/market...ate_60310.html

Month over month, i don't see increased growth rate in exports or the core sectors picking up momentum or the IIP numbers improving.

Then how 7.4 ?

[reverse_gear]

Originally Posted by sgiitk

Slightly OT:

The current market is confusing me no end.

We have a bank rate cut. Logically one will expect:


1. Bond prices to go up (ie lower yields).
2. ₹ to go down.
3. Markets to bounce up.

None of these has occurred.

In fact we are seeing the market in a crazy yoyo of say 300 points (on Sensex) a day!!

I am totally confused and lost.


Are we heading for the mother of all depressions?

The markets had already factored in the rate cut and bond prices and equities had built up that expectation. However, the RBI governor's statement is what spooked the market and caused the sell-off. Markets had been expecting a cycle of rate cuts over the next 3 months (in fact several bankers had said that rates will be falling by 1.00-1.25% in 2015.

However, RBI governor said in his statement that:
- he does not see evidence of economic pick-up
- further rate cuts will come in only once the monsoon status is pronounced. i.e. if the monsoons are poor and the agri prices rise, this will cause inflation to spike; and rate cut would not be wise in such a scenario.
- IMD forecast for monsoon is deficit

So there is now a possibility that monsoon is deficient (if anyone dares to believe IMD ), then inflation goes up, and no immediate rate cuts.

All in all, the case for further rate cuts has been pushed out by 3 months, which is a huge disappointment for the markets hence the fall. I would also add that the overall market sentiment since the beginning of April has been very lukewarm - corporate results for the last year have been much below forecast, the banking and infrastructure sectors continue to have structural problems, the whole fiasco of MAT on foreign investors, etc. So, this may have been a case of adding fuel to the fire.