What is a good salary for Indian employees in product companies
I have always heard each company has a formula to calculate range of salary for any employee. Do anyone of you know if there is any such formula to check if what I am earning is good? I don't want to go by websites to see how much each company is paying for specific designation, as the are flawed by when they were reported and basically tells how much a person could negotiate. I want to know what could be worst and best with all negotiations and none. Eg. (13+(6*YoE))*Background Anything below that formula means company/management isn't valuing you enough and you need to switch for hike, anything around that range of above means you are cruising in your career. Request people from Atlassian, Intuit, SAP, OIC, Oracle, De Shaw, Salesforce, Zomato, Paytm, Amazon, Adobe. Please share your formulas/insights too, if any. TIA YoE starts when you Bachelors' ends. *Background: 1: Top tier College 0.85: Tier 2 College 0.75: Tier 3 College
A few reasons why it's not simple 1)Multiplier for college tier becomes in-differentiable with increasing experience. College tier matters only for the first 5 years at best. 2) Multiplier for YoE ceases to become important in about 8 years. It's the scope and impact of your work, which is reflected in your job level that matters. It is not uncommon for folks with 10 years of experience with the same background to be spread across 3 levels. Obviously the salary of the person in highest level will be much higher than what the lowest level employee would draw. 3) Except Amazon most large companies don't adjust for the stock gains. Now companies whose stock stagnates for a year or two would translate to lesser TC, even though the company values their employees.
So, you think there is no formula to calculate salary band of just saying you ain't aware of one? Irrespective of number of parameters you think should be considered.. I think there always is a formula behind it.
There is a formula - it's based on your job level, not based on your YoE. Even within the job level the salary progresses based on your performance - as to how close you are to the next level. Btw, this is only for companies with strong HR practices. Start-ups operate in a completely different manner. For eg., early stage Indian startups put disproportionately high value on college tier - as it helps with investments to showcase the no of tier-1 college grads with them.
Yoe isn't how many revolutions you've made around the sun after taking a Pic of you throwing your graduation cap. It's relevant years. If you have 10 yoe as a SDE you can't fully count those 10 if you suddenly switch to Cyber security or Data science. You'll join at an intro level adjusted. Colleges won't matter as much if you have enough experience. If you want to know how well off you are, add your salary to levels.fyi or glassdoor or even blind and see how much above the median you are. Salary is dependent on how well your interview goes and how much that hiring manager values you. Also depends on negotiation with multiple offers. You have a huge pay band at each level. Those will give you best and worst. Don't look at your TC as a metric to switch company. Switch based on growth opportunities and move every 2-3 years because those will fetch you more base than a salary percentage hike. Job packages aren't like university admits or health insurance where they adjust formulae and figure it out. Of course the HR people do provide ranges or base level offer that the manager can override. Your university might matter only in fresh grad roles or later down the line when you're like a VP etc. Not the in between years. Those are determined by your experience, projects and achievements like awards, papers and patents etc.
So, you think there is no formula to calculate salary band of just saying you ain't aware of one? Irrespective of number of parameters you think should be considered.. I think there always is a formula behind it.
If they are desperate to hire, even if you are from a top university, if you bomb the interview and barely meet the standard, despite the imaginary hypothetical formula saying you should be paid lot, you won't be. It's pointless and these kind of formulae have to be extremely comprehensive and be updated regularly like an algorithm. These things are more decided by company policy, HR and manager rather than a formula.
There IS a formula for sure. Back In 2016 when I was interviewing at Nutanix (US), the HR told me that there is a multiplier (GPA, school ranking, CoL etc) they use before sending out offers to a new grad. I’m sure there’s one for India as well but it’d be for the new grads. For the experienced ones, this one checks out: YOE * 10 = your TC (+/- 20%)
Here are the values in my mind after 5 YoE for good salaries. Anything before 5 years is good as you need to make up for you college, background, starting project, job, etc. Feel free to comment, criticise, contradict, join in. YoE : Package in Lakhs(INR) 5-7 : 40-60 7-9 : 55-75 9-11 : 70-95 11-13: 90-120 13-15: 100-150
Why only base, you can include TC. Also looks like package column can be moved up by a row and include 2-4. That would make it close enough
I included TC buddy 😀 You make me feel like a rat 🐀 munching on their peanuts 🥜
If these are the average package figures then i am only getting peanut ( singular)
I don't think College matters after few years of experience.
I think it does.. Have a deep conversation with people with around 15 years industry experience. I have talked it out with quite few. The salary at same designation matter till then atleast Sharing based on my conversation wth people from Adobe, microsoft, flipkart and Paytm
It doesn't matter . I am from tier 3 . I have higher TC than some tier 1 guys. Tier 1 college will help you give good compensation as fresher after that you are on your own in rat race my friend