Nilesh Nankaani senior recruiter at Comfy provided more details to the media on this matter. He said, “Last year we asked our HR analytics experts to analyze the data-set of all our coffee expenses, air-conditioning bills, and internet usage bills after 7:30 PM. After 1 year of deep dives into data they came back with results.
And we were shocked to know that combined cost of these amenities came to be a whopping 300 crores per year across all our facilities in India. We also realized that this bill was totally due to the 30,000 employees who are bachelors and have joined us from campus in past couple of years, because they are the only ones who stay in the office after 07:30 PM.”
He added, “Doing a straight division we found out that we are paying them 1 lakh more in indirect wages. Henceforth while we go for campus selection we will quote a CTC package of 3.7 LPA instead of 2.7 LPA which we have been offering in campuses since past 11 years. I believe we would be paying at par with the I-banks now.”
Placement committee members from engineering colleges across the country have warmly welcomed the move by these leading IT companies. Shilpa Bhageria a Placement committee representative at Andheri Bandra Corporation School of Technology (ABC Tech) expressed her delight on this decision.
She said, “Last year an I-bank came up with a 11 LPA CTC offer. Students were dumbfounded. But when you check out the breakup, they included a 4 lakh insurance cover and a 3 lakh variable pay, out of which even top-performers rarely get 1.5 lakh. So all in all you get 5.5 Lakhs, i.e. around 35 K in hand per month. 11 Lakh CTC and 35 K in hand, still people went mad and the entire college applied. As compared to that I believe Comfy and PCS are being modest. They ought to get more competitive.”
Employees already working at PCS and Comfy have also expressed satisfaction at this decision. Jasjeet James a campus recruit from last year and associate software engineer at Comfy Inc. reported an increase in confidence and energy levels in employees across the board. He said, “We all suddenly felt very good that our company is actually spending 3.7 Lakh on us per year and not 2.7. I used to feel ashamed disclosing my CTC to my friends earlier, but now I will bang my chest and say it. I am even planning to get 3.7 tattooed on my wrist.”
Joy Aggarwal another associate software engineer was also elated at the prospects of higher CTC. “As soon as I heard this news I updated my matrimonial profiles on all matrimonial websites with the higher CTC number. According to the dowry-calculus charts, with every 1 rupee increase in salary our dowry amount goes up by Rs. 12. So this 1 lakh CTC increase translates to 12 Lakh hike in my dowry amount straight away. Whoever thought of this master-stroke is a genius,” Joy exclaimed with joy.
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