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Which one is better?
Walmart :
Role: SE III (Java Backend)
Location: Bangalore
CTC : 24 L Base+ 4.6 L Annual Bonus+ 3.45 L RSU(Vested over 4 years)
First year CTC: 29.5 L
Paypal :
Role: SE 2 (Java Backend)
Location: Bangalore
CTC: 25 L Base + 2.5 L Annual Bonus (50% stock + 50% cash) + 75k (gratuity+meal)+ 14.75 L (vested over 3 years) + 2L joining bonus
First year CTC: 33.15 L+ 2L joining bonus
Current Exp: 3 Years 10 months
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I am sure, the other company is smaller one since no large MNCs would expect that. Though it would be wrong contractually but if your work load is less, go ahead for learning and some extra bucks.
Since you are already on notice period, you should proceed with this. It will give you a good understanding about the role n project. Also, parallely look for other opportunities. However just check in your current employment offer if they have any restriction on any type of engagement with any other company
Rising Star
Don't do it. Rather focus on getting more offers.
I think, technically it is illegal to work for a competitor when you are already working in a company fulltime. I think, it should have been mentioned in your offer letter. I would worry about the taxes too. One guy in linkedin told me that it is legal, if you are working as a consultant. I'm not completely sure about it. If possible ask them to credit the compensation to your family member's account. If it is upto me, I wouldn't do it because of the above concerns alone.
Pro
Better work on other offers!