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Only for first year of eligibility means you will get the full X lacs (minus tax of course) as variable pay during first hike cycle.
From 2nd year onwards the variable pay will increase by some % based on your performance. You will get variable pay every year.
But it will not appear in your ctc statement. Only base pay will. But it’s fine. You can explain this to recruiters in the future if you’re looking to switch.
Does the new variable pay remains same as offered in the first year or it is based on some percentage of fixed pay? How is it decided 2nd year onwards?
I don't think they will push the VP to Fixed Ctc. Banglore location is good and there will obviously corporate specific dress code to follow.
Cab facility is excellent and no travel allowance as such as far as i m aware of. For which role are you being offered?
It depends on the current ctc! Let me know the current ctc and whats offered so that i can tell you if you are in the right bracket as a lead. Its a VP role btw.
Variable pay is nothing but yearly bonus. To present a high CTC WF add bonus as variable pay in your offer letter.
Yes Parents are included in medical insurance, base is 5 lakhs sum insured