I am looking for a switch to a startup from a Product Based company. My salary breakup was following - Base - 19.5 L Bonus - 1L RSU- 2.5 L per yr SignOn- 1.5L
In the startup, I asked for a 30% hike on my base. I assumed they will take care of the rest. But to my surprise, they have no such thing as ESOPs, Bonus etc. Then, what should be my fair ask in this case? As of now they are giving me 30% on my Base and that's it. (Fixed ) . What do I do?
Red flag. They don't know what they are doing.
Illegal under labour law to not have a variable component. Every founder or HR should know basic employment law, or have a consultant to guide them. The fact that they made this offer shows they are cowboys.
If you are still keen tactfully you will need to explain why an ESOP plan and variable would be mutually beneficial.
But judging by your post, they might not even have created a pool or have an ESOP policy. Or any idea of how to go about it.
Yoe ?
This is normal. Some Companies discuss purely based on Fixed Salary, which I believe is better for candidates too. So they talk on basis of Fixed (which includes PF), and even the draft pay structure that they show, shows only Fixed Component. But when you receive the Offer letter, they do mention Annual Bonus too there. Just that the percentage of that Bonus may or may not be mentioned. One example of such company is DBS Bank India’s tech branch. I heard the same about JPMC too, but not sure.
Def toxic, don't leave an MNC for this.
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