Recently, received a call from a recruiter regarding vacancy at all levels at SAM Banking Mumbai team. How is the work culture? Expectations? Pay difference from market?
As someone who has spent 3+ years in the team, I would say the work culture is very good. Everyone is really nice to work with rare to very occasional all-nighters required at any level. However, only issue why I left was that the team does not have any marquee clients or matters and has very little transactional work. So from a growth perspective, this 'top heavy' has little to offer.
Join Khaitan Banking instead because people are leaving and we are always short staffed. Chance to build a good rapport with partners like Alva and stay for long haul!
I was a paralegal and did not get the offer despite promised conversion. They only hire very very selectively and appreciate any free labour that comes their way.
Why are you implying that I did not perform? I worked on a couple of DDs and gave it my all. My humble submission is that I did all and more than what associates usually do and is expected of them.
The comments of it being top heavy is very true. The attrition level here is just crazy - due to better opportunities. It’s a big team concerned with their work, with no loyalty whatsoever because there is hardly any rapport built.
Caution: some people may seem unhinged and it had become a pretty normal sight for the team. One of them is given special treatment only because of her/his connections with the partner.
I agree there are teams that are horrible, but this isn't one. It's actually not as intensive and toxic as other BnFs and pays very very well because well SAM. Also the partner is very approachable and fair in feedback. Please don't speak shit.
So here's the thing: (most) partners are nice relative to the savages out there. They talk respectfully and respect boundaries- no unnecessary late nights, no weekend calls. There is an understanding that people have lives outside of office.They certainly make efforts to ensure that people aren't over burdened This partly due to the fact that they aren't able to get marquee clients/ matters also.
But make no mistake and don't be fooled by this niceness, they are as selfish as any other partner. The only difference is that they pretend to care for you, while the other partners don't even pretend. Which one is better or worse is a personal choice.
As far as remuneration is concerned, there is zero transparency, they pay great bonuses to some and crap to others. Your total payout will be good only if you hit 150% bonus, otherwise your salary is certainly below tier 1 average (and sadly, SAM average). But that is so much on partner discretion, as an associate you're practically helpless. If you're the obedient suck up types, you'll probably do well. If you have a voice of your own, they will punish you for it. They punish competence and courage, they reward obedience and cowardness.
Moreover, the team is top heavy and beyond a point they don't want people to grow and expect you to leave. The team is in fact thriving off people quitting. It's in their best interest that you quit once you reach a certain level and they will do things to push you over the edge.
Is it ok to leave for health reasons?
Unfair to delete all the relevant comments at the request of partners
Kind Regards
Stakeholder
Will try my luck somewhere else! Moye Moye
Caution: some people may seem unhinged and it had become a pretty normal sight for the team. One of them is given special treatment only because of her/his connections with the partner.
But make no mistake and don't be fooled by this niceness, they are as selfish as any other partner. The only difference is that they pretend to care for you, while the other partners don't even pretend. Which one is better or worse is a personal choice.
As far as remuneration is concerned, there is zero transparency, they pay great bonuses to some and crap to others. Your total payout will be good only if you hit 150% bonus, otherwise your salary is certainly below tier 1 average (and sadly, SAM average). But that is so much on partner discretion, as an associate you're practically helpless. If you're the obedient suck up types, you'll probably do well. If you have a voice of your own, they will punish you for it. They punish competence and courage, they reward obedience and cowardness.
Moreover, the team is top heavy and beyond a point they don't want people to grow and expect you to leave. The team is in fact thriving off people quitting. It's in their best interest that you quit once you reach a certain level and they will do things to push you over the edge.
Now you can make an informed decision.
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