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Guess we know this person's entry price

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Principal engineer is not IT, it's R&D dept. Please lookout for others offers rather joining Baxter, it's in very bad shape now, check the share price graph to know more.
If you have a software background. Baxter is not the right choice. Very very less projects in Bangalore. Many projects are legacy applications. Your manager may be a nontechnical guy. You may suffer a lot. If you are reporting to the onsite guy. if some reason doesn't like they will fire immediately.
Yeah, they fire people for silly reasons. Don't join.