What is Salary package?
This is also another point we miss while applying for a job . always companies try reduce your package. some even mention the salary package details in the JD. mostly a range depending on the company budget. may be industry standards can be varied. don’t be fooled by just lookin at one job package that every company pays same.
this salary per month can be vary depending on the country ,culture, company financial type and many more . companies offer a contact and whole period you will be paid same . you will b offered a yearly package whole through the year all the bonuses , benefits will be spread. it is called CTC (Cost To Company)
- basic salary only : – some companies offer your basic salary package and epf/etf only . you have to fin accommodation, food travel and all other expenses
- basic + allowance :- company will offer you less basic and add allowance top of that so that company doesn’t need to pay for much epf/etf
- basic + allowance + stocks :- company will offer basic salary , allowances and additionally they will offer you company stocks and ROI of it will depend on after certain period you spend with the company
It is always good to check and clarify before signing the contract about the salary increment . Otherwise every time you will have to go to your manager and ask salary hike. some companies have appraisal review once a year . then some will never give if you don’t ask.
There are scenarios that they will induct you for a probation period 6-12 months and based on your performance they will offer the salary increment.
Sometimes if you come after high potential alma matter you will be offered way above salary package imagining you will perform like your seniors did.
Government JDs mention if you stay for 5,10,15,20 years these and that salary increment will happen.
Last updated :- 2024.04.07