Regarding Package Offered

[Nikhil Sun]

I have got an offer from a Mumbai based MNC.It is into Banking,Investment banking domain.I have got 4 years 9 months of experience in Java/J2ee.My current CTC is 5.63 LPA.They are offering me Rs 6.25 LPA as fixed component and Rs 1.25 LPA as variable performance related bonus component.I would like to know from fellow ranchers if it is worthwhile accepting the offer?I feel it is low and am currently speaking to the HR and trying to negotiate the same.
Kindly advise.

[Kalyan Anand]

getting into investment banking is risky...thats my thought

[arulk pillai]

You will be the best person to make that decision based on asking some tough questions like

-- How secured your current job is? How challenging it is? Are you learning new things and progressing or stagnating?

-- In current climate, there is an element of risk involved in finance sector. Will you be learning new things at your new job and make yourself more employable (in other words, is it worth the risk)? Your preparedness to take risk (IMHO, nothing ventured, nothing gained. We all have to take calculated risks), your confidence to find jobs, if something goes unfavourably at your new job?


Don't just look at the salary alone.

[Nikhil Sun]

As far as current job is concerned,I am at an Indian IT firm and have just been released from a project.Now there are layoffs happening in this firm so job security is a question given current circumstances.That was the reason why I interviewed and have one offer in hand..just in case.I would be trying to get another project in the current firm.I need to see what type of work I land up with.
As far as the MNC firm which has made an offer is concerned,it has got plans to offshore a lot of work to India(around 25% possibly) and hence are recruiting.I gues technologies like Spring,Hibernate would be used.Something I would like to work on.So probably if I join I would get to learn these technologies.I guess if the firm is moving work offshore then it must be a bit long term too as I feel that this decision won't be reversed.
I have to carefully decide.Arul thanks for your input.Friends do give your suggestions too.

[Sandeep Awasthi]

What you want to know about package they offered to you or risk involved in joining IB company?
I know one IB Company recruiting in Mumbai. The way they are recruiting looks like they have work for at least one year.

First try to analyze your chances of securing your current job. If you think there are more chances that you will get layoff, then risk is at the both sides current job and job in IB. Choose which looks less risky.

[Nikhil Sun]

Thanks Rajesh for your reply.Even I feel that you are right that the IB firm is likely to have work for atleast 1 year as they have lots of work coming in.Do you think that layoffs are possible in this firm in such a scenario?
As far as my current firm is concerned,it has been laying off people for sometime now so the risk could always be there.
Also the package I am offered by the IB does seem on the lower side but I guess given the situation now it seems decent especially considering that I might get to learn new technologies.

[Sandeep Awasthi]

Nikhil Sun wrote:Do you think that layoffs are possible in this firm in such a scenario?
As far as my current firm is concerned,it has been laying off people for sometime now so the risk could always be there.
Also the package I am offered by the IB does seem on the lower side but I guess given the situation now it seems decent especially considering that I might get to learn new technologies.

Well no one can tell if layoff is possible or not in any IB company. The one IB in mumbai which was one of the first to fall was interviewing candidates even 2 weeks before it's fall. So no guarantee!!!
Package is secondary thing right now. Important is secured job.

[arulk pillai]

Nikhil Sun wrote:Thanks Rajesh for your reply.Even I feel that you are right that the IB firm is likely to have work for atleast 1 year as they have lots of work coming in.Do you think that layoffs are possible in this firm in such a scenario?
As far as my current firm is concerned,it has been laying off people for sometime now so the risk could always be there.
Also the package I am offered by the IB does seem on the lower side but I guess given the situation now it seems decent especially considering that I might get to learn new technologies.

You and I have no control over layoffs, but we do have control over minimizing the probability of that happening by being a great contributor both technically and non-technically. You and I have control over making ourselves more employable by acquiring the required technical skills, soft skills, marketing skills, job-hunting skills, interview skills, and harnessing the power of networking.

These decisions are always hard to make. Good luck with it.