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Which one to choose between Optum and Tiger Analytics for Data Scientist position? Where can I expect better data science domain expertise (In my previous companies I found very less understanding of Data Science practices as team)? Heared good things about both of these. Also hearing Tiger is expanding rapidly and getting some crap projects as well in the name of data science. Could someone put light on these things?
YOE: 4.5 Years
Tiger: 18L Fixed + 1L JB
Optum: 21L Fixed + 1.5L JB
Anyone working in Optum, please DM
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Chief
This year's funding was 72% . So if it's mentioned 100% in the CR letter .It's actually 72% of your overall RRP.
The amount mentioned in the letter is pre tax.
Got it, thank you for explaining
This year the funding was 72%. Funding is how much company says they will fund the RRP considering the business performance for the year.
What it means is if you have been given 100% in your appraisal letter then it is 100% of the "funded" amount. Example: If your RRP in your appointment letter was Rs 1 lakh then at 100% you will be given the fully funded amount which is 72% or Rs72000.
Then on the Rs72000 tax will be deducted. If you are at a 30% slab then you will get 72000-30%=Rs 50400.
This is assuming a full year (12 months) employment. People joining in mid year are given this on a prorated basis.
To get the exact 1lakh actually after tax(30%) given the 72% funding one needs to get 198.5% in the appraisal is instead if 100%.
See the calculation:
100000×72%×198.5%−30%=Rs 100044
Hope this clarifies.
Understood. Thanks so much for explaining.
it also depends on company peformance. For example, if 100₹ is your RRP then company may cap it to 70₹ based on the company performace.
so, in that 70₹ the tax will be duducted based on your income slabs. If you are in 30% income tax bracket then 21₹ will be deducted as tax and 1₹ to cess and you will be credited with 48 ruppess.
and if you joined in middle of the year the 70₹ will be divided by number of months you worked in that particular year and tax will be calculated based on that
1. Prorated for the duration worked (this is clear)
2. In comp letter, award amount is much lesser than the prorated amount. What’s the calculation for this?
3. I also see award amount as 100% of funding. (What does this mean? Is this a factor based on my performance or project funding or company performance?)
4. And what’s this funding?
5. Is the amount shown in comp letter post tax or pre tax?