Also do tell what’s the band for PA1s in the PF team ? Hearing crazy numbers - 48 - 49 being the starting point and going upto 60!!! Is this true ???! 9-10 lakh difference in the same band is shocking!!!
No. Within each band, there are sub-bands based on rating. So this person must have had a decent/good rating, the 21 goes tot he ones with the highest possible rating (which will be few in the firm working in high billing team AND having a good rep)
That is very team specific, revenue generation etc as well. But typically there are a few at the top rating wise in a team, few good but not great, and the rest average.
Have not come across any colleague who is receiving more than 19l. The creation of these sub-bands at associate-level (without any accompanying transparency) plays in favour of the management, as it creates speculation that at least a few must be earning the highest possible figures. However, unless the firm puts out a press release stating the highest salaries under each band, it is advisable to go with the figures that you have heard from the associates. Please note that B&B figures (exact amounts) were not confirmed by the firm then and they were qualified by the term "up to".
But I have seen that the highest figures have been given - it is just that as expected with the Amarchands, it comes with a rider that it is on a steep bell curve basis
The highest figure to how many.....thats the catch.Thts why probably the announcement to the whole world through media with these highest numbers was not followed up with official firm wide announcement internally to retainers.It was done by individual letters to the employees.Almost makes me feel sorry for associates.
Bonus will be given in March 2022 only - both for the April-Sept and Oct-Mar period. It's just that the calculation of bonus for the Apr-Sept period will be as per old payband. So it's just a way of giving you 25% less bonus in March 2022.
Add to that, the bonus in March 2022 will be 90% of the total payout. The remaining 10% will be paid out in July 2022. This was done deliberately to make people not quit after receiving bonus and to hang around till July.
Then I think CAMs salary cut of 6 months last year that got rolled back has re-rolled in by this form of bonus 10% holding back.CAM must have be having the worst attrition rate ever if it's come down to this.
It seems like there is news that CAM holds back some parts of salary or bonus to pay later, is this to control/postpone attritions? Does this strategy actually work - how many ppl would wait to put in their resignations only after recovering bonus/arrears etc?
Jo aap bol rahe hain, voh aap khud sun paa rahe hain? What has the yearly increment to do with impending third wave and the risks associated with it? Not everyone responds ONLY to financial stimuli.
The only set happy about this benchmarking is the management - killing two birds with one arrow - advertise to the world that we will become best payers then add so many contingencies in the increment that each resource looses 20-30% of his/her legitimate entitlement. It’s an excellent outcome for the firm.
A mass exodus is imminent next summer. 75-80% of the resource pool is frustrated with all hopes and no outcomes. Also why such extreme distinction between bands when you are offering no more than 5-10% effective increase?
Low Pay is part of talent attraction strategy I guess.Why the logic prevails that talented ppl should be paid less is beyond my understanding but for now you console yourself that when they are announcing bumper hikes in media and paying you only 5-10 % effective hike they must think you are super talented.
So everyone going gala looking at the numbers post benchmarking are mistaken.
These are the few deductions: (i) arrears (April 1 - Sep 30) will be paid at the levels prior to benchmarking - a deduction of around 10-15% (ii) bonuses - benchmarked bonuses will be paid only for 6 months beginning from October - another 15% deduction (iii) for associates the firm is carrying deferring 10% of variable component (15% for SAs and 20% for PAs) to next year payable on July 31, 2022 - either you take 15% hit or never leave the firm.
So even if you are in the top band (suppose 42 lakhs for SA1 or 50 for SA2), you will make 35-36 for SA1 and 42 for SA2. THIS IS BEST CASE SCENARIO and majority don't have these numbers. It is not an increment at all. All show no action.
I'm a lower band SA1 and my math tell me I'll be making roughly 30 after all this creative math, if I complete another year here. That's not really much of a hike then.
At PA level, isn't there a 60:40 split for fixed and variable components? Isn't is standard across the firm? I am surprised at the split offered to you.
Nowhere even close to that. Approximate figures are (against the B&B figures):
A0: 15L as against 16L
A1: 18-19L as against 21L
A2: 21-22L as against 26L
A3: 24L-26L as against 33L.
Plus, no arrears from April to September (basically you worked as an A1 at A0 salary). Plus, new rates effective from Oct. So, for the first half of FY21-22, you receive pro rata of old bonus. For the second half, you received pro rata of new bonus.
This is not correct entirely - people have gotten those higher figures mentioned in BB. It is just that there are steep variations within the bands based on rating/performance. But yes, the other parts on half year etc. are true.
A3 here, can confirm. This is nowhere near the hike published on B and B and I'm yet to find a colleague who will be getting the full 33L payout. I'll be topping out at around 22.
Buddhu banaya,bada mazaa aaya.Ab samajh aaya kyun official internal announcement nahi karvaya,bas media ko bada bada figures bataya aur buddha banaya, bada.............Ha ha ha ha
Hi since all cammies are here, I applied for an internship at your place and recieved an email from the hr asking me to fill some details in a table based on which my application was to be considered. I haven’t heard back. After how much time should I send a follow up? Pls bata do
That's lower than the last band. Are you sure? Are you speaking of the first half of the year in the artificial distinction they created? I know A3s with 33
How do you feel if a store put a discount of 90% on 1 item and project it as if all are on same discount %? This is what has happened. Giving a good hike to one and projecting to the world as if they are best pay master. Haha.. This is what Mrs Shroff has done. Played smart but don’t think this will work well. It’s more like a suicide act.
It is team specific and performance based, there is no %age that can be estimated without knowing each individual's rating, which is of course not public.
I have not come across any other firm/org which has 9 ratings for 1 year evaluation.. On what grounds will you be distinguishing between L M H? Is there any SOP in place to help partners put someone in any of these 9 buckets? Everything is so much people based (human discretion) than process based, that if if someone even try to raise his/her concerns or voice for a right thing, injustice will always prevail and no way to take an action against it. . Why do you even need 9 ratings??? What are you trying to achieve out of this? This is crap and complicated? Firm's employees are human beings not experiments that you should have 9 ratings for evaluation and with a gap of 8 lacs between highest and lowest. That's a big gap and a demotivation factor for masses. . This entire rating process is a big failure on the Leadership. I hope sanity prevails.
The saddest part is that by taking out that B&B article the expectations were raised so much that I who has actually received around 40% increment and almost highest in the team at first felt let down.
If you disregard the B&B announcement it feels ok.
I have a lot of respect for Boss, and I would really hope that this discrepancy should be addressed. We trusted your words, not rumours not hearsay but an official press release made by our leadership.
The shroff’s need to realise that trust is a two way street. [-]
You call us ungrateful for not standing up for the firm in LI bashing…. Tell us have you treated us with respect?
After the worst attrition year… you are encouraging even your most loyal to leave you. You are bleeding talent ( you scolded us by saying bad management leads to losing trained assets) because of your bad gimmicks.
Boss and Maam need to reconnect and rebuild the relationship with more than the partners. Like they used to.
The conv. thread of "CAM increments revealed" gets one all excited, only to discover the conv is all at asking ech other what is the increments."CAM increments revealed!! To no one!!" Is a better headline to the conv.
It's nowhere close to the B&B figures.
Earlier, A1 was announced at 21 Lakhs and now it seems thay A1 is at 19 LPA.
Add to that, the bonus in March 2022 will be 90% of the total payout. The remaining 10% will be paid out in July 2022. This was done deliberately to make people not quit after receiving bonus and to hang around till July.
What has the yearly increment to do with impending third wave and the risks associated with it?
Not everyone responds ONLY to financial stimuli.
ab itne bi saste mat bano saiyan ji!
A mass exodus is imminent next summer. 75-80% of the resource pool is frustrated with all hopes and no outcomes. Also why such extreme distinction between bands when you are offering no more than 5-10% effective increase?
These are the few deductions:
(i) arrears (April 1 - Sep 30) will be paid at the levels prior to benchmarking - a deduction of around 10-15%
(ii) bonuses - benchmarked bonuses will be paid only for 6 months beginning from October - another 15% deduction
(iii) for associates the firm is carrying deferring 10% of variable component (15% for SAs and 20% for PAs) to next year payable on July 31, 2022 - either you take 15% hit or never leave the firm.
So even if you are in the top band (suppose 42 lakhs for SA1 or 50 for SA2), you will make 35-36 for SA1 and 42 for SA2. THIS IS BEST CASE SCENARIO and majority don't have these numbers. It is not an increment at all. All show no action.
Fixed + variable for A0, A1 A2 &
A3. Is it the same as they announced on Bar & Bench ? ( 16, 21, 26 & 33)
A0: 15L as against 16L
A1: 18-19L as against 21L
A2: 21-22L as against 26L
A3: 24L-26L as against 33L.
Plus, no arrears from April to September (basically you worked as an A1 at A0 salary). Plus, new rates effective from Oct. So, for the first half of FY21-22, you receive pro rata of old bonus. For the second half, you received pro rata of new bonus.
ALSO, I am getting my arrears (For April- September period) with September, 2021 salary.
A2 - 21 (including bonus)
As I am an A2, I can just speak for this level. The increments are as follows according to your rating:
3L: 18 Lakhs
3M: 19 Lakhs
3H: 20 Lakhs
4L: 21 Lakhs
4M: 22 Lakhs
4H: 23 Lakhs
5L: 24 Lakhs
5M: 25 Lakhs
5H: 26 Lakhs
For A2, majority is 22-23 lakhs but people with 5H rating have gotten 26 lakhs.
This is how the salary is decided according to the rating so similarly it can be calculated for any level.
Abb kya industry and data analysis bhi karna hoga?
Everything is so much people based (human discretion) than process based, that if if someone even try to raise his/her concerns or voice for a right thing, injustice will always prevail and no way to take an action against it.
.
Why do you even need 9 ratings??? What are you trying to achieve out of this? This is crap and complicated? Firm's employees are human beings not experiments that you should have 9 ratings for evaluation and with a gap of 8 lacs between highest and lowest. That's a big gap and a demotivation factor for masses.
.
This entire rating process is a big failure on the Leadership. I hope sanity prevails.
As if people here will know which team is making more money.
Are you ok?
If you disregard the B&B announcement it feels ok.
I have a lot of respect for Boss, and I would really hope that this discrepancy should be addressed. We trusted your words, not rumours not hearsay but an official press release made by our leadership.
The shroff’s need to realise that trust is a two way street. [-]
You call us ungrateful for not standing up for the firm in LI bashing…. Tell us have you treated us with respect?
After the worst attrition year… you are encouraging even your most loyal to leave you. You are bleeding talent ( you scolded us by saying bad management leads to losing trained assets) because of your bad gimmicks.
Boss and Maam need to reconnect and rebuild the relationship with more than the partners. Like they used to.