Here are some of my observations. You can agree or disagree. I hope to throw some light on to these things. 1. Did you notice why the starting pay for these companies for fresh grad is almost the same? Of course, they have been colluding with each other because it’s in their interests. 2. Starting salary has not changed for past ten years atleast more or less. Despite high inflation and rupee getting weak. 3. The model is based on exploiting labor and currency ratio. Charging the clients in dollars and paying 22k rupees per month to developer. They charge 25$ per hour atleast to clients for each developer. The company makes 5700$ approx per month considering 9 hours per day and 25 days of work per month which is 4,05,000 rupees and pays 5 percent to the employee. 4. They advertise that they are IT giants and bullshit . They show that they are creating jobs for people in India. Although they are in a way doing that, but they are also exploiting the people. They work on weekends , extra hours which are most of the times unpaid. 5. Narayan Murthy has huge amount of stocks with infosys. When the company was going down, he came back and tried to maintain a favorable stock price. Just before leaving, he sold all the stocks and used the money to open financing house and other businesses. He showed his come back as emotional as if infosys was his baby and it needed him . 6. They target the youngsters who are fresh out of college and exploit them because they are naive and gullible. By the time these youngsters realize this reality and leave the company, they have already spent atleast 2-3 years and these companies have already used them. There is hardly any financial growth for these young guys. The ugly truth is that our own people exploit others and there is no law or body to regulate them, to inquire about them. Remember the girl who was killed in Pune at infosys office. She was working over weekend in office. The news died within 2-3 days.
Very true! I was surprised at hearing some of these starting salaries. That said a lot of them come onsite to Australia and Europe and make big bucks. Not all of them. And that’s the carrot. For those without onsite you can always Unionize and ask for your rights. Like factory workers, government employees and farmers do.
Agreed !
Let me tell you one interesting story, my friend who is working for Bosch( low ball salary), he wanted to leave his comp, and asked his manager to increase salary. His manager sent him Europe for 2 weeks for onsite but didn’t increase single penny just to retain him. Working Onsite is dream for every body shop workers.
The other side to it is that most engineers in India graduate without basic tech skills and infy/tcs train them for a good 3 month period. For tier3 colleges and below, these companies are a good platform to become market competitive. It's sad it's like this but.. my usual advice for anyone is to get out after 2 years. I do not see them as companies to have long careers. There are always new grads to feed them talent pool and that's how companies have been surviving.
Oh come on, that's already paid by the bond. If an employee has to quit the company before completing 2 yrs, they have to pay 50k rupees to break the bond. And having come to the USA and working here for 136k/y+benefits I can vouch for my past skills that I should've been paid at least 75k-90k$/y if not more.
Agreed. Missed the bond part.
Couldn’t agree more.. that’s why they are bodyshope
Not just the ones mentioned in the question, but all staffing companies in India are doing the same . They are just pimps (दल्ला) and take almost all the money for the service performed by the innocent people. If you want to understand the magnitude of the situation just imagine a slut paying almost all of her service fee to the pimp.
These brothels are now getting non engineering (commerce, arts..) graduates at an even lower salaries and billing to clients as full time engineers.
Warn your kids. This is their competition and strategy for ALL companies who outsource. Nobody wins other than the execs and big shareholders. They throw crumbs of RSU/stocks at a few to prevent revolt and to claim they reward merit.
Yeah. Need to make new comers and kids aware of this
A valid question is to ask is what is the alternative to these 1000s of new grads. I think someone bigger than these companies need to do something. not sure who can play that role plus what they can do. I am hoping over time the on-site glamour comes down as India catches up with Western counties on infrastructure.. but that might be 10 years away at the least.
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I thought this was common knowledge among most of the users here.
That’s true. Still no harm in putting it out there🙂
Exactly.... upgrade skills and move on to a better company