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Can people let me know why is the appraisal period Jan-Dec when the promotions and bands of associates (A1-2-3) are announced and payscale change and bonus is announced in April.
So when does the change in scale actually kick in because of jan-dec appraisal period and what should be specifically kept in mind?
Promotion kicks in on 31 March itself. The incremental salary will start from July retainer fee onwards along with the arrears from April to June.
When are we intimated of our revised salary in January or in march/april. Ik it will be effective from july but please answer the former part.
At times salary is revised upon completion of probation provided you negotiate that prior to joining (for laterals).
For example, my retainer fee per month is INR 1 Lakh, and my bonus is 10% of my annual retainer fee, i.e. INR 1.2 Lakh. As per my offer letter, my total CTC for the first year will be INR 13.2 Lakh.
If I join the firm in August 2024 as an A0, and if I get promoted as an A1 in March 31, 2025, I will make an aggregate of INR 8 Lakh as monthly retainer fees from August 2024 to March 2025. My bonus will be INR 80 Thousand (i.e. 10% of my annual retainer fee).
Therefore as an A0, will I make INR 8.8 Lakh, and not INR 13.2 Lakh that is mentioned in my offer letter?