Taking it Seriously!

Giving a freshers perspective to the discussion, I would like to quote my personal experience on the importance of market competitive pay

Having completed my summer internship with one of the leading FMCG companies in India, I have been offered a Pre Placement Offer.

When I came to know of the offer, I was excited to know the finer details of my role and compensation. The company also seemed to be in a hurry to close the process of acceptance/rejection of the PPO's

However, 2 weeks have passed and I am still waiting to hear from the managers about the offer. On following up with them, I came to know that a "rethinking" of the salary offered to interns is being done this year. This was because of their experience with interns last year (they did not get any acceptances because salary was not at par with other FMCG's). Hence, the company was taking its time to decide our compensation so as to avoid the pain faced last year.

The HR manager had a newly found confidence on the offer they would be making to us in a weeks time . He said that the compensation now will compete with the other big names in the industry and will not be a reason for the interns to reject the offers.

I don't know whether the revision in their salary will give them more converts and acceptances, but it surely shows how seriously the executives of today are taking the market competition in pay to attract the talent that they want!