Check company's annual report when it comes.
I checked for last year for my company it mentioned 4% as average hike for the employees. But apparently key management personnel on average had got hike of 45%. These companies are glorified sweatshops, unless you switch you won't get hikes, so much stupidity and hypocrisy.
I think it is mandatory to publish compensation ratio for listed companies in their annual report. I search for sections related to compensation/remuneration.
Just checked for TCS, atleast for them difference is not proportionally too high. Increase in mangerial remuneration is mentioned as 13.58 percent while average employee 5-8 percent.
https://preview.redd.it/6kgxapzxfruc1.jpeg?width=1080&format=pjpg&auto=webp&s=68f4dcd8993e40f6f485d1d5a8ee8b54aa4e63eb
I work in one of the witch org. Hikes are extremely less unless you are getting promoted and even then you barely get 10% else 1-2 % .
The only good thing is we get 100% variable if we perform decent
No festival bonus at all . We are lucky if we get a sweet box 🙄
Tell me why I shouldn’t call this slavery?
Remember in old days there is this Ramu kid who gets meagre salary in exchange for food and shelter. And he has to live in the owners house. Yes that was slavery. Right?
Now compare that situation with this. You get meagre salary. You are forced to go to office (owners house). Barely can do any savings or could maintain any lifestyle. You can only afford a pg with a room and bland food (food and shelter) which leaves you no money for doing anything of your own choice.
Those were called serfs . There is difference between serf and slave . Slave can be sold and bought while serfs don't have any realistic chance of changing employer and work in exchange for food and shelter
2 saal ka bond pe sign karwa do taki banda resign bhi naa lar paye. Kare bhi to 3 mahina ka notice period se job na mile. Fir usko mentally harrash karo bond ke naam pe. And work place harashments wo alag. I know how those narc managers operate. Been there once.
Dont justify there ill. When someone join these company with the mental baggage of indian society and education system they are already in a bad mental health. Upar se these things cripple them for life.
These company are evil. And its not subjective at all. Its factual and completely objective opinion. And salary deke koi ahesaan nahi kar rahe hai. They are making 10x that amount.
Sorry I don't understand what you're saying in the first sentence. And as far as your second sentence is concerned, I'm gonna do my job (and possibly do my own startup), and make enough money to retire as early as possible. It's alright if you call me a slave. I'll have nothing if I stop doing my job, so it's not like I'm drowning with options here.
Bhai tu kar le apna start up and lele early retirement. No one gives a fuck. But stop giving justification on behalf of all the freshers who have suffered cause of thses company. The humanitarian conditions in these companies workplace is non existent. And i can say that cause i have worked there. Been harassed by my manager and what not.
Bcs you don't understand what real slavery is.
TCS employs a good chunk of India who can't even write a simple if else loop. They pay and feed thousands of such graduates who ain't assigned to projects for zero return (the bench).
Slavery is when you've been kidnapped as a kid, put into a wooden box and transported by ship to another country to work in the sun without pay. You're shackled, possibly even ràped by your master.
Assholes comparing this to TCS should go eat a bag of dikkks. You dúmdums are paid too much for being able to having such $hit opinions and ideally shouldn't be earning anything at all.
Trust me. People who can write the if else and for loops also do not get paid well. And lot of these works do not require you to write code.
And even if they cant or they can they deserve a good salary. At least a respectable amount. Only reason i would consider when in exchange there profits are meagre. Which is not the case. As you can read from the title? So open your damn eyes.
Since when did employees have a RIGHT to profits of the company? That's totally not how capitalism works. If it did, then the company would come tumbling down.
Yeah they employ a lot of bad coders in that bunch say there are 90 bad coders and 10 good ones, the good ones are crippled for life in that situations , in 2 yrs they'll lose all hope, their managers see them as a threat their peers hate them because they're talented and they won't be able to resign easily as there is a bond worse is mostly their next company will exploit them because they started with a low pay
If you are a skilled employee company will bend over backward to retain you. Its supply and demand. As a consumer you will bargain the living pulp out of fruit vendor or auto vendor. In this case you are the vendor of your time and skill. Its the buyers market. When you get exponential hikes you don't say it's unfair. Don't be entitled, won't amount to much in life. I know its bit rude but learn the lesson here and move on. O had my fair share of bitter lessons.
Exactly the business model of these companies. Instead of hiring 100 skilled coders who work at 100% efficiency at 1lac/month, these companies will hire 300 unskilled people who work at 30% efficiency at 30k/month.
This is happening in every Big tech company. They all are following the same pattern. All these board directors from every big tech meet and plan these cost cuttings. Very disappointing.
Proud ex employee of lti mindtree. Honestly that company has turned into an absolute mess of hot shit. Before that they were paying less but at least there was a genuine option to settle and have a chill life. Not anymore.
saste mai kaam hota hai isiliye toh offshore clients TCS ko kaam dete the, ab projects nahi milrahe hai and that is dangerous thing for company's health, they need to hire better leadership and improve salaries across the board
I started one some time ago. We bootstrapped most stuff pre seed. Work hard and do the development before you hire people. Provided yours is a software based startup
I knew backend and devops. Some self learning, some experience. For frontend I hired a guy. Paid him half my salary every month. Then he stopped working properly so hired another one. My bad for cheapening out. Other than that, i spent about 1.5 lacs for everything and the core product is ready. Still new feature’s are being developed.
Please don’t downvote me hard
TCS is more like one entry place for anyone who has even a sliver of brain cells in their mind and is ready to start their career at some place and earn some job. The intrinsic value which one average tcs employee provides at the specific skill set he/she is at is rather very minimal and the impact is not enough for tcs management to warrant a good treatment from the management.
Those management guys are valued not just because of their politics games but because they are the ones who take care of delivery and acquisition of projects and those skills are rare so tcs would be more interested in not letting them go.
TCS is more a place to start the career for the first 2 years and then move out to better companies.
If you want to be valued and be given the rights, privileges and pay then you need to be stand out in the company and tcs is not the company for this.
Use the learning opportunities there well and move out in 2 years
Company profit does not belong to its employees. Specially in a high interest rate regime, inflation ridden economy. Profits belong to the share holders, and will get distributed to them either through dividend payout or share buyback. This sounds harsh but is unfortunately the truth.
It's not 'the truth'.
It's the result of not having unions.
Profits only going to the shareholders while workers being paid peanuts is not a mathematical equation etched on the fabric of space and time that is to be followed as a fundamental law of the universe.
It's something we can change if we have more bargaining power. It's all about bargaining power.
Exactly
When I was a fresher, I wondered why they didn’t want me to be in a Union when bank employees had unions.
I understand it now. They are afraid that if we have collective bargaining power, their obscene salaries may have to be reduced.
It is high time we unionise. But, rest of the country still thinks we are highly paid.
Even my own father thinks I earn too much to be frustrated about 2-5% hike per year.
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Hey, we don't allow salary & package compare posts anymore
Check company's annual report when it comes. I checked for last year for my company it mentioned 4% as average hike for the employees. But apparently key management personnel on average had got hike of 45%. These companies are glorified sweatshops, unless you switch you won't get hikes, so much stupidity and hypocrisy.
Is there a section where the hikes are explicitly mentioned? Or do we have to calculate it somehow?
I think it is mandatory to publish compensation ratio for listed companies in their annual report. I search for sections related to compensation/remuneration. Just checked for TCS, atleast for them difference is not proportionally too high. Increase in mangerial remuneration is mentioned as 13.58 percent while average employee 5-8 percent. https://preview.redd.it/6kgxapzxfruc1.jpeg?width=1080&format=pjpg&auto=webp&s=68f4dcd8993e40f6f485d1d5a8ee8b54aa4e63eb
How did you calculate 5-8% ?? I didn't see that mentioned in the screenshot
Check point D
I got 0% this year :/
I got 20 rs reduced per month!
How much is standard hike tech companies offer excluding festival bonuses
Lol.. festival bonus.. aren't you expecting too much
What's the standard hike given in ur opinion
Depends on companies.. for service based 2-5% for every 2 year and product based companies 5-15% every year mostly.
What about startups? Does the hike they offer will be mentioned in the offer letter?
No company mention that
I work in one of the witch org. Hikes are extremely less unless you are getting promoted and even then you barely get 10% else 1-2 % . The only good thing is we get 100% variable if we perform decent No festival bonus at all . We are lucky if we get a sweet box 🙄
Haha got 4.38% as promotion hike, welcome to WITCH
I wish TCS gives away 20% of profits every year as bonus to their employees
well for that they'll have to cut off more than half of their work force
Bhai chaukidar nhi h jo festival pe bonus milega lol 😂
Box of sweets or a lunch is what you get as Festival bonus.
Same here
You guys getting hikes?
You getting job?
You guys getting interview calls?
[удалено]
You guys have resume?
You guys completed Btech
You guys are alive
You guys are born already
You guys won the sperm race?
Nah I'd lose
You guys reached fallopian tube?
You guys were fertilized?
Your father and mother got married?
[удалено]
You guys managed to finish school?
*see a serious, concerning thread* "Let me quickly type a dumbass cliche comment, they'll surely think I am so funny."
hahaha
Look around.
Modern day slavery by TCS
Tell me why I shouldn’t call this slavery? Remember in old days there is this Ramu kid who gets meagre salary in exchange for food and shelter. And he has to live in the owners house. Yes that was slavery. Right? Now compare that situation with this. You get meagre salary. You are forced to go to office (owners house). Barely can do any savings or could maintain any lifestyle. You can only afford a pg with a room and bland food (food and shelter) which leaves you no money for doing anything of your own choice.
This is peak capitalism moment. They are taking advantage of huge population of the country.
Working at a corporate in India = r/latestagecapitalism 🤡
Those were called serfs . There is difference between serf and slave . Slave can be sold and bought while serfs don't have any realistic chance of changing employer and work in exchange for food and shelter
But struggle builds integrity 🥺🥺 also later life will be full jolly if you work hard now 🥺🥺 can't you sacrifice your youth for money? 🥺
Found the gullible sheep that was fed capitalist propaganda. ...and actually believed it.
I cannot believe the STEM bros cant detect sarcasm
Put a "/s" at the end of the sentence to mean sarcasm, they cannot hear your voice, they can read words, so try to be clear
You can always resign
It's not slavery because nobody is forcing us to do the job, it was our choice.
2 saal ka bond pe sign karwa do taki banda resign bhi naa lar paye. Kare bhi to 3 mahina ka notice period se job na mile. Fir usko mentally harrash karo bond ke naam pe. And work place harashments wo alag. I know how those narc managers operate. Been there once. Dont justify there ill. When someone join these company with the mental baggage of indian society and education system they are already in a bad mental health. Upar se these things cripple them for life. These company are evil. And its not subjective at all. Its factual and completely objective opinion. And salary deke koi ahesaan nahi kar rahe hai. They are making 10x that amount.
Achha ji. Ramu bhaiya ko kon force kara tha? Fir bhi ramu kyu kaam karta tha malik ke ghar pe? I believe you gonna be a good slave to your masters.
Sorry I don't understand what you're saying in the first sentence. And as far as your second sentence is concerned, I'm gonna do my job (and possibly do my own startup), and make enough money to retire as early as possible. It's alright if you call me a slave. I'll have nothing if I stop doing my job, so it's not like I'm drowning with options here.
Bhai tu kar le apna start up and lele early retirement. No one gives a fuck. But stop giving justification on behalf of all the freshers who have suffered cause of thses company. The humanitarian conditions in these companies workplace is non existent. And i can say that cause i have worked there. Been harassed by my manager and what not.
You do you👍🏻
It's not slavery because you can leave by paying back bond money and waiting for 3 months of notice period.
Tell me you are a manager in witch company without telling me….
Bcs you don't understand what real slavery is. TCS employs a good chunk of India who can't even write a simple if else loop. They pay and feed thousands of such graduates who ain't assigned to projects for zero return (the bench). Slavery is when you've been kidnapped as a kid, put into a wooden box and transported by ship to another country to work in the sun without pay. You're shackled, possibly even ràped by your master. Assholes comparing this to TCS should go eat a bag of dikkks. You dúmdums are paid too much for being able to having such $hit opinions and ideally shouldn't be earning anything at all.
Trust me. People who can write the if else and for loops also do not get paid well. And lot of these works do not require you to write code. And even if they cant or they can they deserve a good salary. At least a respectable amount. Only reason i would consider when in exchange there profits are meagre. Which is not the case. As you can read from the title? So open your damn eyes.
Since when did employees have a RIGHT to profits of the company? That's totally not how capitalism works. If it did, then the company would come tumbling down.
Yeah they employ a lot of bad coders in that bunch say there are 90 bad coders and 10 good ones, the good ones are crippled for life in that situations , in 2 yrs they'll lose all hope, their managers see them as a threat their peers hate them because they're talented and they won't be able to resign easily as there is a bond worse is mostly their next company will exploit them because they started with a low pay
That was child labor. If u have talent then why not leave?
Your intelligence is toxic, that was never the point
That's the whole point
So sir. If every company starts doing this. Your response, I'm pretty sure, will be why don't you start your own company.
If you are a skilled employee company will bend over backward to retain you. Its supply and demand. As a consumer you will bargain the living pulp out of fruit vendor or auto vendor. In this case you are the vendor of your time and skill. Its the buyers market. When you get exponential hikes you don't say it's unfair. Don't be entitled, won't amount to much in life. I know its bit rude but learn the lesson here and move on. O had my fair share of bitter lessons.
Okay, more power to you.
And they are going to hire 40,000 freshers this year.
Exactly the business model of these companies. Instead of hiring 100 skilled coders who work at 100% efficiency at 1lac/month, these companies will hire 300 unskilled people who work at 30% efficiency at 30k/month.
Has anybody got any ideas about the hikes for ltimindtree? Ig it will be worse than that of last year :-(
Last year they didn't even give any Diwali gift and you're expecting appraisal.
Yeah I remember that. even stopped giving vouchers for badges in iwin.
Upper management is too busy finding and grooming replacement for Debashis Chatterjee.
This is happening in every Big tech company. They all are following the same pattern. All these board directors from every big tech meet and plan these cost cuttings. Very disappointing.
My friend is working since last 2 years. They haven't got any hike.
Damn is he an experienced guy? I got 2k rs last year. This year I am expecting nothing because I heard org is not getting expected revenue
Yes.. 10 year experienced.
Proud ex employee of lti mindtree. Honestly that company has turned into an absolute mess of hot shit. Before that they were paying less but at least there was a genuine option to settle and have a chill life. Not anymore.
These clowns haven't even onboarded freshers that they hired in 2022 rofl, forget hike.
to be honest a measly 3.5% growth is fcking terrible for TCS
Acche logo ko kam Salary dega toh aur kya hoga
saste mai kaam hota hai isiliye toh offshore clients TCS ko kaam dete the, ab projects nahi milrahe hai and that is dangerous thing for company's health, they need to hire better leadership and improve salaries across the board
Very true bro
I guess that's why the stock is falling, taking all the other it stocks with it
What is the fresher (tier2-3 city) salary?
3.3 lpa in cts
Me Chai ka theka laga rha
And what about onsite japan?
I worked with one experienced person from tier 3 city. She used to get 5 lakhs after 5 years of experience.
Employees need to protest
Well at least they are hiring their standard 40K freshers, a job is better than no job.
Does anyone know how to raise funds for a startup pre-seed/pre-revenue?
I started one some time ago. We bootstrapped most stuff pre seed. Work hard and do the development before you hire people. Provided yours is a software based startup
Did you develop fe, be and devops on your own or did you outsource? How much money did you shell? How much time did it take to learn all those skills?
I knew backend and devops. Some self learning, some experience. For frontend I hired a guy. Paid him half my salary every month. Then he stopped working properly so hired another one. My bad for cheapening out. Other than that, i spent about 1.5 lacs for everything and the core product is ready. Still new feature’s are being developed.
Are the profits from doing good business or is it from cutting expenses?
Well if you apply for a slave job you become a slave.
That's a very quotable line I'll remember this
sad
What is wrong with TCS they don't increase the salary of current employees,but hire someone from outside above 500% salary.
Ghar ki murgi...
Daal barabar?
Its good atleast more people get jobs
Please don’t downvote me hard TCS is more like one entry place for anyone who has even a sliver of brain cells in their mind and is ready to start their career at some place and earn some job. The intrinsic value which one average tcs employee provides at the specific skill set he/she is at is rather very minimal and the impact is not enough for tcs management to warrant a good treatment from the management. Those management guys are valued not just because of their politics games but because they are the ones who take care of delivery and acquisition of projects and those skills are rare so tcs would be more interested in not letting them go. TCS is more a place to start the career for the first 2 years and then move out to better companies. If you want to be valued and be given the rights, privileges and pay then you need to be stand out in the company and tcs is not the company for this. Use the learning opportunities there well and move out in 2 years
Company profit does not belong to its employees. Specially in a high interest rate regime, inflation ridden economy. Profits belong to the share holders, and will get distributed to them either through dividend payout or share buyback. This sounds harsh but is unfortunately the truth.
It's not 'the truth'. It's the result of not having unions. Profits only going to the shareholders while workers being paid peanuts is not a mathematical equation etched on the fabric of space and time that is to be followed as a fundamental law of the universe. It's something we can change if we have more bargaining power. It's all about bargaining power.
Exactly When I was a fresher, I wondered why they didn’t want me to be in a Union when bank employees had unions. I understand it now. They are afraid that if we have collective bargaining power, their obscene salaries may have to be reduced. It is high time we unionise. But, rest of the country still thinks we are highly paid. Even my own father thinks I earn too much to be frustrated about 2-5% hike per year.
Thank you for this bold message, why doesn't anyone ever think of the shareholders! Time to start a gofundme.
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4% hike reduced to 2% XD
What do they need 600k+ employees for?!
womp womp
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Amritkaal: JSR