Clown Mohan and Co. are going around telling everyone that everything is fine here in India and the recession is for the west.
But the trump card of Indian Economy, the IT industry, doesn’t seem to be doing well.
The most happening phenomenon in an IT company is ‘Jumping’. In his hay day a softie gets double the salary when he makes a ‘jump’. By the time he is 30 he will be earning a obscene paycheck.
During the recessions no company was willing to take the risk of hiring. The ‘jump’ slowed down. So the softie stayed on pledging allegiance to his company. The bosses weren’t so foolish. They cut the wages and increased the work and put all the blame on George Bush.
As soon as the economy started blooming again, the companies started getting new projects and they started poaching talented and frustrated people. So company A lured those of company B with 70% hike. This created a vacuum in B prompting them to go searching the ones in Company C.
This vicious cycle went on until everyone filled up all the existing posts with double the earlier pay. This in turn caused fall in profits. Bosses had enough of this ‘rat – eat- rat’ and they are coming up with measures to control the ‘jump’.
I believe some surprises are around to regulate the ‘jumps’. My dear friends, who are used to huge salaries, you might have to check in your greed a bit.