Wednesday, February 20, 2008
Average salary hike in 2008: 15%
The 12th annual salary survey by Hewitt Associates predicts a 15% salary hike for employees in India.
According to Hewitt, in 2007, salaries in India rose the fastest anywhere in the world, by 15.1%. China reported a more moderate rise of 8.6%. Salaries in India had risen 14.4% in 2006 and 14.1% in 2005.
Real estate, energy, retail and telecom will see much fatter hikes - thanks to the boom in these sectors and scarcity of talent.
Of course, those not content with the 15% hike will be looking to switch jobs, resulting in 30-50% hikes... But it's best to wait till March 31, get an enhanced payslip and then bargain for more with the new employer.
Yep, such is life!
According to Hewitt, in 2007, salaries in India rose the fastest anywhere in the world, by 15.1%. China reported a more moderate rise of 8.6%. Salaries in India had risen 14.4% in 2006 and 14.1% in 2005.
Real estate, energy, retail and telecom will see much fatter hikes - thanks to the boom in these sectors and scarcity of talent.
Of course, those not content with the 15% hike will be looking to switch jobs, resulting in 30-50% hikes... But it's best to wait till March 31, get an enhanced payslip and then bargain for more with the new employer.
Yep, such is life!
Labels: salaries
Wednesday, February 13, 2008
Fresher pilots struggling for jobs
TOI reports: Nightmarish times are back for Indian pilots fresh out of flying schools. As many as 600 Commercial Pilot Licence (CPL)-holders are currently jobless and engaged in a nerve-wracking competition to enter that coveted cockpit even as vacancies for the post of trainee pilots have become as rare as on-time flight departures.
On Monday morning, 400 pilots appeared for Kingfisher Airlines’s written tests conducted in a college in Kandivli (E). “Although the number of vacancies this time was not known, the airline had about 250 candidates for its written tests held in January to fill just four posts of ATR trainee pilots. The two pilots selected for A320 trainee pilot jobs were self-financed candidates, which means they were to spend about Rs 20 lakh each on their type-rating (training to fly a particular aircraft),’’ says an aspirant.
A couple of years ago, when the aviation was seen taking off, there was a lot of talk about 'shortage of pilots'. Two years later, it seems there are too many.
The moral of the story is you can't pick a career based on 'demand' for it!
On Monday morning, 400 pilots appeared for Kingfisher Airlines’s written tests conducted in a college in Kandivli (E). “Although the number of vacancies this time was not known, the airline had about 250 candidates for its written tests held in January to fill just four posts of ATR trainee pilots. The two pilots selected for A320 trainee pilot jobs were self-financed candidates, which means they were to spend about Rs 20 lakh each on their type-rating (training to fly a particular aircraft),’’ says an aspirant.
A couple of years ago, when the aviation was seen taking off, there was a lot of talk about 'shortage of pilots'. Two years later, it seems there are too many.
The moral of the story is you can't pick a career based on 'demand' for it!
Wednesday, January 30, 2008
Software slowdown?
ET reports: Tata Consultancy Services, India's largest software exporter, is effecting a small across-the-board cut in employee salaries based on the company's performance in the 3rd quarter, a move reflecting caution amid tough times for the outsourcing industry.
The company has shaved off a portion of the variable pay due for the current quarter, translating into a 1.5% cut in the annual paypacket.
Nothing drastic but it signals that the software industry is tightening its belts. Increments could get affected next year, and not just at TCS but across the industry.
For young graduates who joined in the boom period all this could come as a shock. And even those who are about to join should stay prepared.
A final year engineering student remarked that TCS has become very strict in confirming its trainees. Although TCS is still generously doling out appointment letters at engineering colleges, gthose who do not qualify in the exam held after the training period are asked to leave.
All in all, a reality check ahead!
The company has shaved off a portion of the variable pay due for the current quarter, translating into a 1.5% cut in the annual paypacket.
Nothing drastic but it signals that the software industry is tightening its belts. Increments could get affected next year, and not just at TCS but across the industry.
For young graduates who joined in the boom period all this could come as a shock. And even those who are about to join should stay prepared.
A final year engineering student remarked that TCS has become very strict in confirming its trainees. Although TCS is still generously doling out appointment letters at engineering colleges, gthose who do not qualify in the exam held after the training period are asked to leave.
All in all, a reality check ahead!
Labels: Indian IT, software, TCS
Wednesday, January 23, 2008
Civil Engineers in demand
Civil is one of the least preferred branches in engineering. Few people today want to be involved in building roads, bridges, buildings - actual engineering work. The software industry with its big brands, cool campuses and mainly mental work is more attractive.
But as they say nature has its own corective mechanisms. So it is with the job market. Given the current infraatructure and construction boom civil engineers are in demand. Salaries paid to fresh civil engineers are inching up - matching and in some cases even exceeding IT offers. And real estate companies are willing to pay even better.
Mint reports: According to industry estimates, while salaries for fresh civil engineering graduates from reputed institutes can go up to Rs6 lakh a year in other industries, real estate firms do not mind paying between Rs12 lakh and Rs15 lakh a year for the same graduates. Vice-presidents in such companies earn Rs50-60 lakh a year. In comparison, senior managers in the automotive business earn between Rs18 lakh and Rs30 lakh a year.
Interestingly, even within the sector, there are surprises because it’s not always the top firms that pay the most. Mid-tier real estate developers, who are less established tend to offer higher salaries as it is tougher for these companies to attract experienced professionals who prefer top companies such as DLF.
Of course salaries should never be the reason for choosing a particular stream or profession. Because every industry has its cycles - its ups and downs.
The point however is, that no stream or profession is unlucrative. It may be at the time you graduate that the industry you have chosen is in a down cycle. You would have to spend some years being at a lower payscale than your peers elsewhere. But one fine day demand for your kind of experience rises and then you can command a huge premium.
Again, you can't plan this. It happens. You do your job the best you can, keep learning and growing and rewards come to you. In India we even have a term to describe this approach to life karmayog.
The question is, do you have the patience and faith in yourself to follow this path?
But as they say nature has its own corective mechanisms. So it is with the job market. Given the current infraatructure and construction boom civil engineers are in demand. Salaries paid to fresh civil engineers are inching up - matching and in some cases even exceeding IT offers. And real estate companies are willing to pay even better.
Mint reports: According to industry estimates, while salaries for fresh civil engineering graduates from reputed institutes can go up to Rs6 lakh a year in other industries, real estate firms do not mind paying between Rs12 lakh and Rs15 lakh a year for the same graduates. Vice-presidents in such companies earn Rs50-60 lakh a year. In comparison, senior managers in the automotive business earn between Rs18 lakh and Rs30 lakh a year.
Interestingly, even within the sector, there are surprises because it’s not always the top firms that pay the most. Mid-tier real estate developers, who are less established tend to offer higher salaries as it is tougher for these companies to attract experienced professionals who prefer top companies such as DLF.
Of course salaries should never be the reason for choosing a particular stream or profession. Because every industry has its cycles - its ups and downs.
The point however is, that no stream or profession is unlucrative. It may be at the time you graduate that the industry you have chosen is in a down cycle. You would have to spend some years being at a lower payscale than your peers elsewhere. But one fine day demand for your kind of experience rises and then you can command a huge premium.
Again, you can't plan this. It happens. You do your job the best you can, keep learning and growing and rewards come to you. In India we even have a term to describe this approach to life karmayog.
The question is, do you have the patience and faith in yourself to follow this path?
Labels: engineering, salaries
Monday, January 21, 2008
Dr Nivedita's HR solutions
My cousin was complaining bitterly about her boss. Woh bahut khadoos hai, chhutti nahin deta hai. And the worst bit is, he always calls for meetings after 6 pm.
Here's a 'solution' put forward by my 8 year old daughter:
"Aapke boss ki birthday to aati hogi na? Haan to aap log unko ek gift de dena: punching bag. Then he will punch that whenever he feels angry. And he won't shout at you".
Omigod - she actually hit the nail on the head. The guy is taking out apni life ki frustrations and problems on his subordinates. Give him another way to release those emotions and he'll be a-ok!
And this is clear to an 8 year old...
Of course how would one actually bell the cat - or plant that bag? Nivedita has step by step instructions: Aap log boss ke pehle pahunchte hain office mein? Haan to aap ceiling se ek hook laga do aur punching bag taang do. Gloves unki desk par rakh dena.
If only managing the boss was that simple... Actually, maybe it is and we've just never tried?
Dr Nivedita's HR nuggets will be featured here from time to time. Readers can send in their problems... and maybe, just maybe get a really fresh solution.
Here's a 'solution' put forward by my 8 year old daughter:
"Aapke boss ki birthday to aati hogi na? Haan to aap log unko ek gift de dena: punching bag. Then he will punch that whenever he feels angry. And he won't shout at you".
Omigod - she actually hit the nail on the head. The guy is taking out apni life ki frustrations and problems on his subordinates. Give him another way to release those emotions and he'll be a-ok!
And this is clear to an 8 year old...
Of course how would one actually bell the cat - or plant that bag? Nivedita has step by step instructions: Aap log boss ke pehle pahunchte hain office mein? Haan to aap ceiling se ek hook laga do aur punching bag taang do. Gloves unki desk par rakh dena.
If only managing the boss was that simple... Actually, maybe it is and we've just never tried?
Dr Nivedita's HR nuggets will be featured here from time to time. Readers can send in their problems... and maybe, just maybe get a really fresh solution.
Labels: boss problems
Thursday, January 17, 2008
Making grads employment-ready
ET reports: ICAI to train youth registered with employment exchanges
The Institute of Computer Accountants is assisting the West Bengal govt in providing training in accounts and finance to youth registered with employment exchanges.
The government will sponsor Rs 5000 or 50% of the course fee, whichever is lower. ICA expects to train 1 lakh youth over the next 14 months thru this scheme in 42 centres across WB.
I think this is a step in the right direction. Simply registering with an employment exchange is of no use if you are not employable! The government getting proactive in this matter is a great thing, that too in 'Marxist' West Bengal.
Of course I have no idea what the value of an ICA grad is in the industry. The institute's url is icajobguarantee.com which shows a high degree of confidence as far as placement goes. Of course it would be wrong to expect 'MBA type' placements. This is a vocational institute and does not make lofty promises. Job milega but not the chaand-taare variety.
However the Rs 5000 subsidy won't go too far as most of the courses cost Rs 20-40 k. A loan scheme would be a good idea.
Another point to note: ICA believes that along with proficiency in Accounts a student should also possess the communication skills & the personality in order to gain a good position in a reputed company.
Fair enough but employment exchange types may need some help on the personality front as well. Actually it is kind of a shock to learn so many lakhs still register in government employment exchanges in this day and age of internet job sites. Goes to show you there are many Indias out there still.
P.S. Anyone who'd been to ICA please do offer some feedback to offer on the course, placement and institute!
The Institute of Computer Accountants is assisting the West Bengal govt in providing training in accounts and finance to youth registered with employment exchanges.
The government will sponsor Rs 5000 or 50% of the course fee, whichever is lower. ICA expects to train 1 lakh youth over the next 14 months thru this scheme in 42 centres across WB.
I think this is a step in the right direction. Simply registering with an employment exchange is of no use if you are not employable! The government getting proactive in this matter is a great thing, that too in 'Marxist' West Bengal.
Of course I have no idea what the value of an ICA grad is in the industry. The institute's url is icajobguarantee.com which shows a high degree of confidence as far as placement goes. Of course it would be wrong to expect 'MBA type' placements. This is a vocational institute and does not make lofty promises. Job milega but not the chaand-taare variety.
However the Rs 5000 subsidy won't go too far as most of the courses cost Rs 20-40 k. A loan scheme would be a good idea.
Another point to note: ICA believes that along with proficiency in Accounts a student should also possess the communication skills & the personality in order to gain a good position in a reputed company.
Fair enough but employment exchange types may need some help on the personality front as well. Actually it is kind of a shock to learn so many lakhs still register in government employment exchanges in this day and age of internet job sites. Goes to show you there are many Indias out there still.
P.S. Anyone who'd been to ICA please do offer some feedback to offer on the course, placement and institute!
Labels: accountsm graduates, ICA
Wednesday, January 16, 2008
BPOs hire counsellors
DNA reports: As understanding of problems of BPO employees grows, more and more companies are either employing counsellors or hiring the services of professionals.
...The counsellors help in adapting to change, overcoming grief and bereavement and managing stress and provide solutions to marriage and family problems through printed material, orientation programmes, face-to-face and phone talks, online suggestions and referral services.
Now you may conclude on reading this that BPO employees are in a mess. Or you may take a more positive view - "Workers in many industries face these issues, these guys are doing something about it."
I would take a balanced view and say yes, BPO has its own peculiar problems. Nightshifts, for example play with your health. Add to that the stress of a young workforce with unrealistic expectations in their first/ second job.
“Studies reveal companies lose at least 60% of employees every week. The reasons are various such as stress, less pay, road rage and altercation at work. Employees lose their problem-solving ability,” says Kumud Rajendran, CEO, Personal Performance Consultants, which offers services to 15 companies in India.
Hiring counsellors is a sound business decision. If counselling can help to retain even 5% of the folks who would otherwise quit I say it's great value for money. And the employer is seen as 'someone who cares'.
Although it's the larger companies who see the value of this investment in employee welfare I am sure eventually smaller BPOs will follow. And so will other industries.
As for employees, they seem to be happy. You may have family, friends, partners, but often it takes an outsider and a professional to make you see your problem objectively. And nudge you towards a solution.
For example, one H Nagraj changed from voice-based service to non-voice-based for a lower salary after two years.
“I needed peace of mind. Taking hundreds of calls everyday would drain me. I even developed back pain. It was then that I was advised by a counsellor to change service. Now, I am happy as I have the energy and enthusiasm needed to pursue my interests of reading and writing,” he says.
Money vs quality of life. Blaming your boss vs lookin within. Managing your time vs being the popular one and bailing out others.
There are many ways to look at any problem and an empathetic counsellor just helps you open your eyes to them!
...The counsellors help in adapting to change, overcoming grief and bereavement and managing stress and provide solutions to marriage and family problems through printed material, orientation programmes, face-to-face and phone talks, online suggestions and referral services.
Now you may conclude on reading this that BPO employees are in a mess. Or you may take a more positive view - "Workers in many industries face these issues, these guys are doing something about it."
I would take a balanced view and say yes, BPO has its own peculiar problems. Nightshifts, for example play with your health. Add to that the stress of a young workforce with unrealistic expectations in their first/ second job.
“Studies reveal companies lose at least 60% of employees every week. The reasons are various such as stress, less pay, road rage and altercation at work. Employees lose their problem-solving ability,” says Kumud Rajendran, CEO, Personal Performance Consultants, which offers services to 15 companies in India.
Hiring counsellors is a sound business decision. If counselling can help to retain even 5% of the folks who would otherwise quit I say it's great value for money. And the employer is seen as 'someone who cares'.
Although it's the larger companies who see the value of this investment in employee welfare I am sure eventually smaller BPOs will follow. And so will other industries.
As for employees, they seem to be happy. You may have family, friends, partners, but often it takes an outsider and a professional to make you see your problem objectively. And nudge you towards a solution.
For example, one H Nagraj changed from voice-based service to non-voice-based for a lower salary after two years.
“I needed peace of mind. Taking hundreds of calls everyday would drain me. I even developed back pain. It was then that I was advised by a counsellor to change service. Now, I am happy as I have the energy and enthusiasm needed to pursue my interests of reading and writing,” he says.
Money vs quality of life. Blaming your boss vs lookin within. Managing your time vs being the popular one and bailing out others.
There are many ways to look at any problem and an empathetic counsellor just helps you open your eyes to them!
Subscribe to Posts [Atom]