IT PEOPLE INCREASED THE SALARY GAP BETWEEN IT & NON IT SEGMENTS. AS LONG AS THEY EARN & SPENT IN USA DIDN'T AFFECT THE COMMON INDIAN. ONLY WHEN THEY GOT THAT MUCH PAY IN INDIA AND SPENDING LAVISHLY HERE. EVEN FISH VENDOR SELLING FANCY PRICE EXPECTING IT MAN WILL BUY WHATEVER SHE SAYS THUS AFFECTING POOR PEOPLE LIKE US. BECAUSE OF IT COMPANIES ONLY 25% INDIANS ARE ENJOYING INDIA BUT 75% COMMON PEOPLE ARE SUFFERING STARTING FROM VEGETABLE PRICES TO REAL ESTATE(UN REALISTIC ESTATE)
I think none of the owners of above posts are from IT companies.... Tell me one thing did these companies had given any extraordinary hikes when they where growing like hell... look into there net profit they are still exponential growing just bcoz of us.... How can they deduct our salary... its a wrong step and it's a sign of bad luck of Indian IT professionals...
RE:Salary Cut..... Cheap company Cheap Mentality
by bagsnsave on Jan 31, 2008 05:19 PM Permalink
Are u new to IT industry ? dude...Cutting in Variable pay is not at all new, only who are from outside IT will think this is a news!!
RE:RE:Salary Cut..... Cheap company Cheap Mentality
by pawan gupta on Jan 31, 2008 05:20 PM Permalink
I hope Indian Rs goes up to Rs 20 to a dollar and IT honchos getting stinking pay hikes and leading to exceptional hikes in prices including realty come down to earth. Anyways on a purchasing price parity, USD = Rs 10 only. Hope we reach our the real price of our currency soon and earn money the hard way.
Cutting in Variable pay is not at all new, only who are from outside IT will think this is a news!! All Indian companies have this VARIABLE pay, which will be for company performance, vertical or horizontal performance, individual performance incentives all are variable, infosys will have 70% of your pay as variable.
I would term it as one of the most unethical practice ever adopted in any of the industry. They promised something else in the begining of the year and finally they paid something else, does not reflect good on the company's image. On one hand its being told to shareholders that the revenue has increased and so has the profit, on th other hand the employees salary is being cut to probably inflate the profit figures. It gives me an indecation that the image TCS tried to project at the end of Q3 result release was not the actually the true image of the company. The step needs to be explained to all the stakeholders rather then keeping everything shrouded in the mystry.
RE:Unethical Practice
by bagsnsave on Jan 31, 2008 05:15 PM Permalink
who promised. First try to get correct info: before passing any comments. Well i am not part of TCS..but am in IT industry for quite sometime. Deduction in salary is fully in keeping with company`s written contract with employees that Variable pay is linked to company performance and profit. Hard 5000 RS ( exclu IT) a year for an indv of 4-5 yrs exp. Its a petty amount comparte to CTC
RE:Unethical Practice
by deepak thukral on Jan 31, 2008 07:44 PM Permalink
Its good to hear that you are in IT industry for quite some time but I am wondering if you have really read the complete post or not. It was communicated to shareholders few days back that the revenue has increased and so has the profit. It was also reported that the earned profit has met the desired expectations. If earned profit had really met the desired expectations then why was it required to cut the salaries of the employees?
Also its not about the amount of money, its all about the value of your words.
I have seen the internal circular. The proposed deduction in salary for next 2 months is fully in keeping with company`s written contract withe employees that vVariable pay is linked to company performance and profit. I do not think there is any reason to panic. As usual the media is making a mountain out of a mole hill. On an average an employee with 2/3 years experience is set to lose Rs 7500 per year. If u take out IT the loss is less than 4000.00
Well, its a cut in variable pay only. WHich depends on company and individual performance. I donot think one need to create such a big hoopla about it. After IT industry rides with waves of flexibility. Tomorrow it cud be a bigger pay hike ..who knows!!
these company can do this only...and they can not find any strategy for future....if this is going on ..IT ppl will migrate....to other company....then they get good package
