Is 5-7L per month in hand alot?
Anupam Mittal was shocked to know that the founders of Nasher Miles take 5-7 lakhs per month per founder
Is that alot? What has been y'all experience?
He hasnβt mentioned the secondary sale of CRED shares worth millions of dollars he has made.
βSurvivingβ
This is why I find him very shady. Heβs obviously sold shares in secondary. Heβs probably made a lot more in secondary sales than he would have from salaries.
Also as he would be a related party. He has to disclose his salary in the financial statements. So this is completely self serving (nothing wrong with that) but portraying himself as a man of the people who cares a lot about burn.
Mark Zuckerberg also draws a salary of $1.
But meta is public he could sell his shares anytime at least will get some money but selling a private company shares you need a buyer?
You get to dilute your equity during each funding round.
Mostly founders or other members of upper management tend to take huge dividend payouts and very low salaries.. Not sure what the rules in India are like, but in the US, dividends are taxed at a much lesser rate than salaries.
That's why Zucky, Steve Schwazman of Blackstone etc all take dividends over salary.
Well if the majority of my expenses are handled on the companyβs tab and I made a huge corpus on my stock sales, I could live of 15k per month fairly easily too! Stop being mesmerising by the half baked info these CEOs blurt out.
That's admirable. But don't idolize this wannabe Elon muskmelon.
Guys you have to understand, salaries are linear but equity can be exponential. They've raised 9 rounds of funding and is saving a lot on taxes by doing this.
He's so overrated. This salary is just signaling, he's made buttloads of money selling a declining product and selling secondary in cred
Does it look like he needs the money?
Haha If I sold my previous company for $400 million Iβd also take βΉ1 salary so as to avoid paying income taxes. Tax on fat salary = 30%. Tax on capital gains through sale of secondaries = 15%.
Hmm I wonder what someone would choose.
Anupam Mittal was shocked to know that the founders of Nasher Miles take 5-7 lakhs per month per founder
Is that alot? What has been y'all experience?
Just saw this screenshot showing how many salaried and business people contribute to ITR
All points aside ,who are these 15-16 people who have 100 cr+ salaries Mind blown!!!!π³
Nitin, Nikhil Kamath π
The company did around 10-15% silent layoffs in the last cycle by putting people in PIP. My Manager told me that he has pressure on him to put at least 1 or 2 people in PIP, make them leave the company and reduce costs.
Later, the c...
Good thing. Anyways their frontend devs and PMs were doing everything on Twitter except tech.
Smart move by Razor pay, thatβs why I love them
Same for Swiggy. Cost cutting, no increments,hiring interns and temps instead of sdes
Met a PM from IIT / IIM with 4 years of experience. He is working at a well know soonicorn at a salary of 17 lakhs per year . He used to draw 30 lakhs per year in his last role before we was laid off . Interesting Times ahead
A minute of silence to all the grapevine polls where salary expectations are so high π
Finally. This was long due. PM's are just overpaid.
Not just PM. I'm in Business roles for the past decade; People are offering me 50% less now. Fortunately not laid off...