Hello everyone,
I am currently doing my summer internship in an MNC. I am part of a management trainee scheme and would appreciate some insights on how to calculate compensation for fresh graduates. What are the key parameters considered before deciding on a compensation package for a candidate who is usually a fresher?
Thanks,
Soumiya 😊
From United Kingdom, Reading
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1I am currently doing my summer internship in an MNC. I am part of a management trainee scheme and would appreciate some insights on how to calculate compensation for fresh graduates. What are the key parameters considered before deciding on a compensation package for a candidate who is usually a fresher?
Thanks,
Soumiya 😊
From United Kingdom, Reading
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Dear Soumiya,
The topic you have raised may look a little awkward and at times a little uncomfortable to reply to, especially coming from a trainee herself! However, trying to answer it, the basic parameters on which a trainee, most of the time a fresher, is judged include:
- The institute from which he/she is coming
- The educational background of the incumbent
- The potential interests of the incumbent (specialization)
- The location of the employing company and its MT policy
- The nature of the project to be undertaken
There can be more factors to consider, but the first and the last points are really important. If you see, the institute's brand name matters, and so does the company's internal people practices.
My initial thoughts and two cents to your question!
Cheers,
Kanishka
From India, New Delhi
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The topic you have raised may look a little awkward and at times a little uncomfortable to reply to, especially coming from a trainee herself! However, trying to answer it, the basic parameters on which a trainee, most of the time a fresher, is judged include:
- The institute from which he/she is coming
- The educational background of the incumbent
- The potential interests of the incumbent (specialization)
- The location of the employing company and its MT policy
- The nature of the project to be undertaken
There can be more factors to consider, but the first and the last points are really important. If you see, the institute's brand name matters, and so does the company's internal people practices.
My initial thoughts and two cents to your question!
Cheers,
Kanishka
From India, New Delhi
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Hi Kanishka,
I think you are partially right in saying that an institute's brand name matters. According to me, more than the brand name, the potential and the caliber of the candidate matters. This can be judged by interviewing the candidate in terms of her knowledge, her skills, and her academic and activities background.
What do you say?
Reena
From India, Mumbai
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I think you are partially right in saying that an institute's brand name matters. According to me, more than the brand name, the potential and the caliber of the candidate matters. This can be judged by interviewing the candidate in terms of her knowledge, her skills, and her academic and activities background.
What do you say?
Reena
From India, Mumbai
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Hello Reena,
Well, maybe you are right... but in the case of a Campus Recruitment drive for Final Placements for Summers, it may not hold true. Because, mostly, most of the companies have a slab to rank institutes and have differential pay slots... and if the MT Policy states something, it hardly matters if the girl/guy is good... if not, there will be more to do a project for them... mostly! I say!!
Cheers,
Kanishka
From India, New Delhi
Acknowledge(0)Amend(0)
Well, maybe you are right... but in the case of a Campus Recruitment drive for Final Placements for Summers, it may not hold true. Because, mostly, most of the companies have a slab to rank institutes and have differential pay slots... and if the MT Policy states something, it hardly matters if the girl/guy is good... if not, there will be more to do a project for them... mostly! I say!!
Cheers,
Kanishka
From India, New Delhi
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Basics of Compensation Management.pdf
Compensation management.ppt