TCS Salary Saga: Why Chartered Accountants Are Unhappy
TCS's Controversial Fixed Salary Offer
Tata Consultancy Services (TCS), a leading IT services firm, has drawn criticism for offering a fixed annual salary of Rs 386 lakh to chartered accountants (CAs) during a recent campus placement drive at the Institute of Chartered Accountants of India (ICAI).
Reasons for Discontent
The offer has sparked discontent among CAs for several reasons:
- Inadequate Fixed Salary: CAs argue that the fixed salary component is insufficient, especially considering their qualifications and the high cost of living in Mumbai, where the jobs are based.
- Variable Pay Concerns: The total cost-to-company (CTC) package includes a variable salary component of Rs 263,348, raising concerns about the reliability of this additional income.
- Comparison to Industry Standards: CAs point out that other IT firms offer higher fixed salaries to CAs, making TCS's offer uncompetitive.
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