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About appraisals and bond

Pratiksha patil
Greenhorn

Joined: Sep 10, 2008
Posts: 9
Hi friends,

I have two years of bond with the company that i work. Actually it is bank guarantee of 1.2 Lakhs. After one year i got appraisal and now my package is 'x' lpa which is much 1.5 Lakhs less than even a fresher who joins the big companies. when i will be free from the bond I will be having 2 Lakhs approximate difference in the package as compared to the package of people with same experiance as of my.

I can't plan to break the bond. I just want to have a complete 2 years experiance. But I am really dissatisfy with the money they give me as I am doing lot more than doing the job beyond my responsibility. Even I can't raise this issue as I have bond and I can not leave the company.

I don't know what should I do? Should I break the bond or I should continue because it is going to affect my future packages as I will be having less package while leaving the company after completion of bond period. What do you guys suggest?
Arjun Shastry
Ranch Hand

Joined: Mar 13, 2003
Posts: 1874
IMO one sided bond does not carry any value in India.In many cases companies send some letter to ex-employee to pay the amount and ex-empoyee throws that in garbage.In worst case, they won't give experience letter or relieving letter.If its 'Shethji'(run by some family) type company you might not get last month's salary.


MH
Pratiksha patil
Greenhorn

Joined: Sep 10, 2008
Posts: 9
Its not like that.
I have already paid that amount in an account and given the bank guarantee to the company. I cant withdraw that amount from the account unless i complete that bond or if i do so whole money in my account will get transferred to companies account.

Thats what the reason to worry my friend.
Maneesh Godbole
Saloon Keeper

Joined: Jul 26, 2007
Posts: 10245
    
    8

Originally posted by Pratiksha patil:
I have already paid that amount in an account and given the bank guarantee to the company.


You should not have done that in the first place. The bond is valid if and only if the company has spent money on getting you trained on something.

Anyway, there is no point in crying over split milk.
Only think you can do is have a talk with your manager. Dont say "x is getting y amount, so I expect the same" Put it in a different way. Tell him you are doing x work and you feel y would be a proper compensation for it. Before you do this though, you better figure out the pay scales in your current company. You certainly do not want to over reach yourself.

You might note that when you step out of this company, any new employer will take your last drawn salary as base and negotiate a hike (usually 30-40%) based on that.
[ September 12, 2008: Message edited by: Maneesh Godbole ]

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Pratiksha patil
Greenhorn

Joined: Sep 10, 2008
Posts: 9

You might note that when you step out of this company, any new employer will take your last drawn salary as base and negotiate a hike (usually 30-40%) based on that.


That means I will always lag in my next packages as this package will be the base for deciding my package for the next company.
Thats why i am planning to have sun certifications and oracle certificate study so that i will be having some concrete reasons to ask for 60-70% hike. I think thats what I can do now rather than breaking the bond.
Bobby Sharma
Ranch Hand

Joined: Mar 18, 2008
Posts: 574
    
    1

nice thoughts Ms. Patil

Certifications will certainly add values.

best regards,
omi


Back to Java , again.
Pradeep bhatt
Ranch Hand

Joined: Feb 27, 2002
Posts: 8919

News channels have reported that comapnies like TCS,Satyam and wipro do ask for money before employee joins. The amount will be refunded after the employee completes 'x' number of years.


Groovy
aleem khan
Ranch Hand

Joined: Aug 07, 2008
Posts: 94
By the way i have never heard anywhere if doing certifications would increase your salary to 60-70% ..i tried this in one of the indian company and the response from my PL was " you did certification, it is good for you only right, your job is secure now "


SCJP(1.4), SCWCD, Oracle 9i SQL certified, Oracle PLSQL Developer Certified Associate
Jignesh Patel
Ranch Hand

Joined: Nov 03, 2001
Posts: 626

Originally posted by aleem khan:
By the way i have never heard anywhere if doing certifications would increase your salary to 60-70% ..i tried this in one of the indian company and the response from my PL was " you did certification, it is good for you only right, your job is secure now "


If you are not going to spend 10 years in that company just throw his words in garbage and start preparing for another certification.
Maneesh Godbole
Saloon Keeper

Joined: Jul 26, 2007
Posts: 10245
    
    8

Having done certification(s) does not really affect your salary or role or responsibility. At the end of the day what really matters is the knowledge you have.

I have interviewed numerous candidates, who, on paper, looked very promising. But guess what? During the interview they fumbled on even the basic concepts.

On the other hand I have known and worked with some fantastic people who had no certification at all.

Certifications will probably help you get invited for an interview at the most. Nobody in their right senses is going to make you an offer on your certifications alone, without interviewing you.

Moral of the story: Don't look at certifications as a means for a salary hike.
Corollary to the moral: You can gain knowledge without doing certifications!
[ September 22, 2008: Message edited by: Maneesh Godbole ]
 
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