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2 year bond @ XYZ Co (Small java company)

 
Greenhorn
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Hai. I am karthik (2009 BE- computer science passout). I am vigorously searching for an IT job. I finally got selected in two small companies (XYZ Co, ABC Co). The salary during the TRAINING period is (6000/- per month) and after 3 months of training they assured me that salary will double(12000/- per month) Now they are asking me to sign a 2 YEARS Bond agreement. As per the agreement i should produce the original certificates (or) if i break the bond i should pay a sum of 1,00,000 RS. Now this is RECESSION time. Even i struggled a lot to get these jobs. What should i do now. Please HELP ME SOON
 
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Please note we prohibit naming companies like that: I have changed your posting to remove the names (original in our deleted forum).

I hope you don't mind, Mark, Nitesh and Henry Wong
 
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Hi Karthik,
I think you should join the company.
 
karthik aswin
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Campbell Ritchie wrote:Please note we prohibit naming companies like that: I have changed your posting to remove the names (original in our deleted forum).

I hope you don't mind, Mark, Nitesh and Henry Wong



Sorry for that.. Wont do that again.
 
karthik aswin
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Ninad Kulkarni wrote:Hi Karthik,
I think you should join the company.


The only dilemma i am having is people say IT will boom within a year. If that happens i cant apply for any other job. And please justify your answer. SENIOR GUYS LIKE YOU SHOULD HELP JUNIOR GUYS LIKE ME .. Please
 
Campbell Ritchie
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So maybe you wish to take the risk of being unemployed for a year, and if IT doesn't boom in a year . . .
You will need to check the bond, whether it is legally enforceable. Also what happens if they don't increase your salary after 3 months. Does that invalidate the bond?
 
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karthik aswin wrote:Sorry for that.. Wont do that again.

Apology accepted
 
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The only dilemma i am having is people say IT will boom within a year. If that happens i cant apply for any other job. And please justify your answer.


If you're just starting out in the industry, then I wouldn't recommend switching jobs that soon. You've got a lot to learn, and becoming acquainted with daily life in a company is part of that. It WILL be different than you imagined it, and jumping ship solely because of that is not a good start into a successful career.

If, on the other hand, the reason you're thinking about quitting a company before you've even started working there is because of monetary compensation, then you should bring that up with the company. Tell them why you think you're worth than what they're offering you. Also be sure to get the promised pay increase in writing.

And definitely talk to a lawyer about the enforceability of the 2-year requirement.
 
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Do you have to hand over your original Certificates to the company?
In other words, will they be keeping it with them?

 
Campbell Ritchie
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Good point about certificates. You should show the employers your certificates (they will probably photocopy them), not give them the certificates.
 
karthik aswin
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James Ward wrote:Do you have to hand over your original Certificates to the company?
In other words, will they be keeping it with them?



The company has asked me to visit the final round on 21 september( I think its just a formal round) . And thanks for all your replies. Please assure me that you guys will again come back on monday to track changes. Again, i will let you know all the details on monday. Please CHECK BACK ON MONDAY

I NEVER THOUGHT I COULD GET CAREER GUIDANCE FROM JAVARANCH. HATS OFF
 
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karthik aswin wrote:

Ninad Kulkarni wrote:Hi Karthik,
I think you should join the company.


The only dilemma i am having is people say IT will boom within a year. If that happens i cant apply for any other job. And please justify your answer. SENIOR GUYS LIKE YOU SHOULD HELP JUNIOR GUYS LIKE ME .. Please



I don't think that is a valid concern. Even if the boom comes if you don't have experience its not easy to get job. So try to get experience before the boom comes and you can look for job change once you gain good experience. But personally I will try to avoid giving my original certificates and if that is not a concern for you go ahead without thinking about the salary.

Good Luck
 
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Stay away!
Why are they so insecure to keep your original certificates? Salary is peanuts as well - try elsewhere, you'll get better opportunity.

rgds,
- Manish


 
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karthik aswin wrote:

Ninad Kulkarni wrote:Hi Karthik,
I think you should join the company.


The only dilemma i am having is people say IT will boom within a year. If that happens i cant apply for any other job. And please justify your answer. SENIOR GUYS LIKE YOU SHOULD HELP JUNIOR GUYS LIKE ME .. Please



Do not think about the IT boom or doom. Take what is at your hands now. Why not work hard for the company that hired you and prove yourself and earn the salaray in that company which you would not get outside?
 
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Stay away!
Why are they so insecure to keep your original certificates? Salary is peanuts as well - try elsewhere, you'll get better opportunity.



That is a hard decision to make. Who knows when the next bus will arrive.

Why not work hard for the company that hired you and prove yourself and earn the salaray in that company which you would not get outside?



A good suggestion. But I would twist the advice a little and say - Work hard so you can learn more. Do not expect anything in return from the company for your hard work. If you are not rewarded, you can leave. There are companies that will buy out your bond breakage fees if you are good. If you do get rewarded, thats cool.

I NEVER THOUGHT I COULD GET CAREER GUIDANCE FROM JAVARANCH



Please refrain from using ALL CAPS since it looks like you are shouting. Please also refrain from asserting that people check back on Monday, since it looks like you are ordering people to do that.
 
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