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stop68673y@aviophile its the costs to company. the wikipedia article describes it perfectly: https://en.wikipedia.org/wiki/...
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@stop !
😦🤢 i got sick in the stomach reading that.
I hope this ctc praxis isn't spreading to the rest of the world. -
Ctc may be an Indian thing, but internationally you’ll find bad companies/recruiters asking about your current salary and pressing for it. Avoid giving it out as it is irrelevant
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@heyheni CTC isn’t bad, per se. Yes you don’t get all the money in hand. But the way Indian Tax System is designed, the “benefits” part of CTC can be used for tax exemptions and deductions.
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@heyheni Also, I didn’t even know that this is just an Indian and SAfrican thing. How is the salary structured in other countries?
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It is structured similarly. They just don't term it as CTC. But TDS is fairly common everywhere. And with that, the company definitely needs to calculate employee tax and the deductions apply.
It'd be the labour laws that would guide what a company can call a compensation. And hence the term cost to company, which is really smart. -
Also the biggest difference is the abundance of available work force. In India, the calculations are in terms of number of resources and not talent. Also there's always another smarter person who's willing to work at a lesser salary than you.
And yes companies outside India also ask the same questions (perhaps in a more sophisticated way), HRs try to fit you into their budgets, that's their job.
I remember applying for Ubisoft, asking for X amount even before the process started, and getting an offer letter at the end for almost X/2. I was so angry for wasting my time. And the HR justified saying we are the biggest gaming company, you should join.
I have similar experiences where the first person says yes that definitely fits our budget and the last person in the chain says : sorry, we assessed you and we think this amount is inappropriate.
Long story short, it's a shitshow everywhere. -
I'm not aware of my CTC on either year or month basis. In Belgium you just mention your desired monthly gross salary, excluding extralegal benefits, those are just extra.
The CTC thing is scary because it sounds like the employer can go waaay below your desired salary by substituting cash for benefits you never asked for/ don't want. -
@webketje doesn't work that way. You actually get those components.
Your travel allowance from the CTC for example is still transferred to you. Just that you gain tax benefits for that. The employer doesn't eat that up. Just that the end in hand salary looks better. -
@heyheni You never know. It’s pretty annoying that some companies adopt it. It actually signifies to me that the company doesn’t have a pay structure in place for a range of employees. So you’re left to negotiate it a lot back and forth.
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@piratefox My thought process is that if companies are doing this, you can piss on them too if you’re desperate at that given time for a job. Tell them the CTC and get what they’re giving, use this time to find a proper company in 3 - 4 months and jump ship to another. Usually works with 1 - 2 jumps. I know some companies warn about blacklisting and stuff but that rarely happens. If the companies want to play bad the employees can play bad too.
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@Cyanide Although you should negotiate your salary on the basis of in hand and not CTC. If your salary goes in upwards of 1,500,000rs in India you’ll be taxed 30%. The exemptions are only if you have investments etc.
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@WhatDaCode does that number correspond to "upper average salary"? In Belgium part of your income is taxed at 50% for upper average
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@webketje Not sure what “Upper average salary” means for you here but the number I mentioned above means that anything above it is taxed at 30%. And I am sure Belgium has a higher tax rate compared to India.
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Some of the biggest difference between an HR from India and an International one is that the question is not “What is your current CTC?” But “What are your salary expectations?”There has been this culture in India where the current CTC is used to determine your job offer, not what you’re actually worth for the company.
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