Razorpay increments - sad state
Almost 50% of the org got no increments People with "exceeds" rating got single digit increments Only promotion cases have got early to mid double digit increments Promotions have been significantly fewer this time, max people have been told to hold off their expectations of promotions for another year The reasons cited were economic slowdown, other companies like Microsoft, Flipkart, swiggy, Amazon doing the same and cost cutting. I think things are getting toxic and the majority of employees have been left disappointed.
Hmm Razorpay has been doing silent layoffs as well.
They fired low performing people, many people's internships were cut short and few were forced to resign.
But ofcourse it's not an official front page layoff so to say.
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I don't understand why people complain. 40-50% hikes are not god given rights regardless of how you worked. Company does well, it pays and gives increments well, if not, it tightens up. Green people who have seen only booming economy and double digit hikes realising single digits and no hikes are a thing.
Broski what you said is not applicable to razorpay, they have had one of their best years financially last year, they've rarely ever underperformed business wise, they've done national and international acquisitions last year. The gripe here is that the company is doing all this only because all the others are doing it, not because of some issues with the company itself. And since when is giving a 0% hike to half the org justified?
Well said bro, lot of people have never seen what tightness feels like.
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BiryaniEnthu
Stealth
a year ago
Gosh I was dying to join Razorpay. Dodged successfully
Phenomenal company tbh. A small hike one year doesn't determine their calibre. It does show a lot of your thought process though.
BiryaniEnthu
Stealth
a year ago
My current company gave 0 hike citing market conditions. Previous one gave 5% after 2 years of Covid.
Thought process has been fed to reach this stage
My friend at Razorpay got an early double digit hike. So not true for everyone.
Yeah its true! Company has good cash reserves from previous funding, still they are not doing enough appraisals.
One should have no issue with the appraisals honestly considering current market. Having a Job is more than enough. But company has insane disparity in terms of salaries.
No doubt, after these silent layoffs, like other companies even they will hire new Developers on insane packages spending extra money but won’t prefer retaining existing talent who are asking few extra bucks.
This is everywhere my friend.. failed to completely understand why it's so
My friend got an early double digit increment and he is in sales. So, definitely not true for majority.
happens in every recession or slowdown in every company. It's the best opportunity to get work done at lesser rates as you have a universal excuse. I used to work in an early stage startup which never paid market rates (the founders will start bashing candidates if the say 3/4 lakhs is less hike to join them, stock options were shit too-but want to hire "Google level folks" ) and now making the perf discussion random and toxic and giving barely any hikes. These are the people who don't miss to talk about their great culture at every opportunity.
This is just layoffs masked as perf appraisals.
Bumpy_Stock
Stealth
a year ago
Can you share, why it was your worst experience?
Took more than a month to get my account up, their partner bank RM cheated and lied, they barely have any useful features, their payroll team lied, each person's payroll costs 118 rupees.
Worst company, moving to Kotak/Axis soon.
How's the work culture at razorpay? It has always been a dream to work there
It really depends on which team you're working with. There is no way to generalise this. But for matured products like payments there really isn't anything challenging going on, most things have stagnated, all you'll do is minimalistic incremental work. Though what has already been built is interesting in itself but new people won't get to work with it. For new business units there are those sort of opportunities still there. People at razorpay are generally very good as well. I do think how Razorpay is projected to the outside world is a bit overhyped, but that being said it's completely dependent on your team and manager.
May I ask why is it your dream to work at razorpay?
@ShadyEngineer I got an offer for Sr solutions consultant role in Razor pay for offline POS solutions. Any idea on this..? They are paying me 26 LPA for 8 yrs exp. Should I take the offer?
stupidusername
Stealth
a year ago
Its not just Razorpay but startups doing same. In our company most of the staff got single digit increment, not even to beat inflation. Still better then layoffs
stupidusername
Stealth
a year ago
* not enough even to beat inflation
Simple answer is that the board has asked Razorpay to get to profitability in its core business - Payments. The increment has definitely been lower, but think of the upside in the stock options if we are able to get to profitability. Razorpay's stocks are real cash and not just paper. By reaching profitability, we protect the value of the stocks we hold. Losing a few % in increments vs losing 30-40% of your stock value like other start ups. What would you prefer? Look at the bigger picture man. Don't just come here for grabbing eyeballs.
Look at this post from Swiggy - https://share.gvine.app/92GRNSFPECMfXKHe7
Do you want such a situation at Razorpay?
Your tone is more patronizing than my manager.
Think there is something you should know about esops, that now gold rush in razorpay is done. Those who joined before it's unicorn status would be only ones making real money. Currently razorpay at 8bn is clearly overvalued so the rush is not to improve but to justify that valuation. The people are mature now and no one is gonna buy razorpay rn if they go for their current valuation in ipo. If you really thing there is 40% upside on razorpay's current valuation then you need to give your head a right wobble or stop smoking whatever the hr is feeding you.
Tldr; you shouldn't give the lollipop of ESOPS when your company is a unicorn and might very well be overvalued. That stage has long gone.
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MuddyInk34
Stealth
a year ago
Layoff is also copycat. No hike is also copy cat. Layoff starrted from elon at twitter. No hike from satya nadella announcement. Keep share value high by all means
WeepyPast83
Stealth
a year ago
Are you in the product team?
This is true, no hike till "meets expectations". Only minimal hikes were for exceeds expectations. Promo cases must have been exceptional.
Hey , I got 6% - 8% being in Ops. All the leaders say is like, "Better be thankful that you have a job instead of layoffs"
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