Sandeep
Certifications: SCJP (2005), SCWCD (2006), OCA (2006), WAS Admin (2007), SCBCD (2008), SCJD (2009), SCDJWS(2009)
kaustuv saha wrote:Well, it depends on many factors.
Typically,
1. Large IT services comapnies : 8 LPA (includes variable pay)
2. Medium sized IT services companies : 9 LPA (includes variable pay)
3. Outsourced Product Development companies : 10 LPA
4. Captive units of non IT MNCs (for internal development) : 9 LPA - 10 LPA (may or maynot include variable pay/bonus)
5. Product Development MNCs : 10 LPA + bonus
6. Product Development MNCs (Niche players) : 12-15 LPA + bonus
7. Investment Banks : 13 LPA + bonus
Sandeep
kaustuv saha wrote:Well, it depends on many factors.
Typically,
1. Large IT services comapnies : 8 LPA (includes variable pay)
2. Medium sized IT services companies : 9 LPA (includes variable pay)
3. Outsourced Product Development companies : 10 LPA
4. Captive units of non IT MNCs (for internal development) : 9 LPA - 10 LPA (may or maynot include variable pay/bonus)
5. Product Development MNCs : 10 LPA + bonus
6. Product Development MNCs (Niche players) : 12-15 LPA + bonus
7. Investment Banks : 13 LPA + bonus
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Ashuthosh san wrote:Thanks for all for your replies. You are telling me good numbers, today unfortulately some Large IT company offered me current salary + 45K
How do negotiate with the interviewer, please help me.
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Certifications: SCJP (2005), SCWCD (2006), OCA (2006), WAS Admin (2007), SCBCD (2008), SCJD (2009), SCDJWS(2009)
kaustuv saha wrote:Hi
The numbers quoted here are not from any study analyis. I quoted these figures based on what me and my ex-classmates/colleagues got offered in recent times. Of course, they cannot be treated as a gospel and actual figures may vary.
Sandeep
Sandeep Awasthi wrote:
kaustuv saha wrote:Hi
The numbers quoted here are not from any study analyis. I quoted these figures based on what me and my ex-classmates/colleagues got offered in recent times. Of course, they cannot be treated as a gospel and actual figures may vary.
Did you and your friends did BTech from IIT + MBA finance from IIM or CFA ?? Curiosity again.
Ashuthosh san wrote:Thanks for all for your replies. You are telling me good numbers, today unfortulately some Large IT company offered me current salary + 45K
How do negotiate with the interviewer, please help me.
Subramani Shiva wrote:
The package in investment bank varies widely depending on ones qualifications (B-tech colleges/NIT etc) and the skillset...And 13+bonus for a 6 year guy from one of those colleges is quite normal if he has good tech skillsets...
Who told you this? College/University/degree name makes impact in any company. Why so many students try hard to get admission in IIT/IIM?Subramani Shiva wrote:
In product companies more than 'college' name the tech skill set matters more and there is a better level playing field in them....
Subramani Shiva wrote:
My friend got a hike in a very good i-bank and with 5 years of experience his package is 20Lpa...he joined there as a fresher at 6lpa...
Is it applicable only to i-banks? Not to other MNCs for example Pharma Giants?Subramani Shiva wrote:
the ibanks pay very well coz its very cheap to get the work done if you compare to US as I worked with one in US...
Subramani Shiva wrote:
there for 5-6 years exp one could get between 100- 120K base + bonus depending on the division and how much money that division makes (for techies it can reach 40-50% of base and in very rare cases 100% of base - well all numbers based on good old days - 2 years back. But now again the banks are giving good bonuses)..
In india paying 16-20lpa(40-50k USD including bonus) is literally nothing compared to the same work..
Sandeep
Sandeep
Subramani Shiva wrote:
My friend got a hike in a very good i-bank and with 5 years of experience his package is 20Lpa...he joined there as a fresher at 6lpa...
Subramani Shiva wrote:
I have seen product companies giving 100% hikes just to make sure that there is parity and there isn't much difference between people in the same band to maintain internal parity range.. But it is not the same with I-banks.....
Subramani Shiva wrote:
What do you mean by providing hard data?? Discussing company names and specifics is NOT allowed as per java ranch.... And there are quite a number of people in the range I have mentioned in the investment banking...For people working in the investment banking domain it gets done.. If you are not aware its not my issue..
Subramani Shiva wrote:
One cannot compare pharma salaries with i-bank salaries in technology.. no where in pharma 5 year exp IT a person makes 120 and 50k bonus 2 to 3 years after college.... Thats the boon and bane with investment banks... and its the main reason why people are getting highly inflated salaries in investment banks....
I want to understand if same person can get X salary, why banks are paying X + Y where Y is big factor.
Sandeep
Sandeep Awasthi wrote:
If you can not provide any thing to back then no one will believe your claims. Or you expect everyone to believe whatever you claim?
I will provide you some data. One i-bank paying higher salary was first one to fall.
Another bank sold their captive unit to IT service company. This is in India.
I never claimed pharma companies paying higher salary. So far I have not made any claim. But why one can not compare pharma salaries with i-bank? You claim to have knowledge of salaries in US, salaries of pharma companies, salaries of i-bank, technologies used in pharma companies. What else you want to claim without any backing?
My point is very simple. It does not matter if you do not agree with it. But the point is let's assume I buy something X in US for 10$. Same thing I can buy in India for say Rs.25. Looking at currency difference I am getting it cheap. Even Rs 50 is cheap, but why should I pay Rs 50 when I can get that in Rs 25?
This is what I said in my earlier post.
I want to understand if same person can get X salary, why banks are paying X + Y where Y is big factor.
Subramani Shiva wrote:
For the so called data you have provided - This i-bank pays well and still remains one of the top... I never asked you to believe whatever I claim? I am speaking from what I have seen firsthand.. If you dont want to believe it its none of my problem...
Subramani Shiva wrote:
Its a simple logic for anyone to understand.... They were making boatloads of money in mortgage backed securities and cds...
Subramani Shiva wrote:
and they need best talent...
Subramani Shiva wrote:
and salary is inflated coz they compete against each other insanely....
Subramani Shiva wrote:
the work is also equally difficult putting long hours everyday when one is in front office....
Subramani Shiva wrote:
I have recruited people for my team from Pharma, Insurance & I-Banks both in NYC and India - that atleast gave me a basic knowledge?
Subramani Shiva wrote:
I never mentioned about technologies in pharma companies...Read it properly....
Subramani Shiva wrote:
I-Banks like to keep people from top colleges - in east coast and NYC - loads of ivy league-ers join either on tech or biz side of i-banks.. they pay for brand...
Subramani Shiva wrote:
my friend making decent salary from the operating system company (2-3 years exp) - one hedge fund just doubled his salary in 2007ish hitting 220k and he moved from seattle to east coast.... And fired him when the recession deepened in 2008....
Subramani Shiva wrote:
If you were not in NYC / Connecticut - Gold coast area (http://en.wikipedia.org/wiki/Gold_Coast_%28Connecticut%29) you wouldn't be understanding how crazy pay packages were going up for techies also...
Subramani Shiva wrote:
The place I work for tech we take people from all colleges as long as they are good in tech...
Sandeep
No one goes to college to recruit bad.
Better we end this debate because I did not get answer to my question. Why same person with same quality, talent, same qualification, experience why banks pay higher. If banks require different talent, different qualities which match with their business then I can understand. But I got answer to another question why it is been highlighted recently that banks paying higher salary.
I will provide you some data. One i-bank paying higher salary was first one to fall.
Another bank sold their captive unit to IT service company. This is in India.
Ashuthosh san wrote:Thanks for all your replies. Now i got an idea how much i can demand
"demand"???Ashuthosh san wrote:Thanks for all your replies. Now i got an idea how much i can demand
Pushkar Choudhary wrote:I think both of you have might have pushed this argument too far by making personal remarks and thus violated one of the basic policies of Javaranch to Be Nice. I'm sure you would've already caught the attention of a moderator who might need to take some action against this.
Sandeep
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