As per my conversation with HR... The loan will last for 5 years once we join the bank after MBA...
This means Bound for 7 years (2+5) and this loan cannot be prepaid by us....)
@anujcareer24 ..hi loan can be settled before .. sure u can get rid of loan earlier.. but i suggest not to take ay further staff loans on offer while working . bccoz they are designed to make u work long in icici. suggest u join based on your crrent salary and use this as a platform .. to use this as a platform and to grow further in banking industry u need to be free of any commitments like loans in icici orother problems and jump after 3 years or 5 years wahtever is case and available.. be alert u can smoothly use this as a passage to better career..
the prob is for most people the idea of working in icici for more than 5 years is not at all possible as per their working style
@pk.rider4u ..hi dude this is suitable for u if u cant get 70 k after 2 years in ur current job..consider
1. break in earning for two years
2 .saturday full working day
3. cost of relocating to a new place with spouse ( if spouse is working that income is lost temporarily) and with kid and or atleast with parents..
4. what ever positive hard work u plan to give in this programme give it in your current job and improve from there.. consider doing some specialised IT course related to ur field..
5. try to get into IT vertical of icici bank directly from current job with a hike.. are u ready for that.. if not ready for that how can u be ready for the same job with bond?
6. if working in IT vertical is gud why cant u guys directly apply to IT vacancies? how many of ur colleagues has joined in icici bank in technical dept aerlier..?
think all this and still u have better answers u can go ahead with a positive mind...
most of us join a job with so much positive attitutde ( our current job including) and later forget the very same positive things andlook them anywhere else. sure while joining ur current job u wud have joined with the same mindset that u have now abt icici
@sriram82 I have spoken to the HR and it is also mentioned in the offer letter that loan cannot be settled before... i am sure about this...
One more thing, after seeing all your above points and considering that after 2 years the inhand salary would only be 70 - 75 k,,,,,,,, u still suggest me to join this programme.....
PS> i am not from banking industry and my current in hand is 65K...
Hi Guys,I have a few concerns before saying a final yes to this programme.. Please advise with your suggestions:
1. Value of Degree of NIIT university out side ICICI
2. As per my conversation with HR, The loan period will be for 5 years after MBA and we cannot prepay the loan (so the total lock in period become 7 years (2+5), this was confirmed by HR...
3. Most of the profile that are offered are purely sales based profile including life insurance with high targets (Confirmed from candidates from previous batches and employess from ICICI).
4. Break up of CTC - HR told me that In -hand after deducting the EMI of around 9500, TDS and other things would be around 70 k....
(Is this true), guys pls advise......
5. Place of posting and profile (Not clear at all- We also need to consider the cost of living with or without families in cities other than our home town).
6. No increment and promotion for the the initial 3 years..
7. We have to submit all our original documents to the bank as a security for the next 7 years.
8. Work culture at ICICI- which is not very good.
Guys, Pls help with your suggestions as i am not sure to say yes to this programme.
Best Regards and no offense to anyone.
1. Value of Degree of NIIT university out side ICICI
2. As per my conversation with HR, The loan period will be for 5 years after MBA and we cannot prepay the loan (so the total lock in period become 7 years (2+5), this was confirmed by HR...
3. Most of the profile that are offered are purely sales based profile including life insurance with high targets (Confirmed from candidates from previous batches and employess from ICICI).
4. Break up of CTC - HR told me that In -hand after deducting the EMI of around 9500, TDS and other things would be around 70 k....
(Is this true), guys pls advise......
5. Place of posting and profile (Not clear at all- We also need to consider the cost of living with or without families in cities other than our home town).
6. No increment and promotion for the the initial 3 years..
7. We have to submit all our original documents to the bank as a security for the next 7 years.
8. Work culture at ICICI- which is not very good.
Guys, Pls help with your suggestions as i am not sure to say yes to this programme.
Best Regards and no offense to anyone.
@anujcareer24 hi i worked in icici bank for 3.5 years, 1 year in icici group company and then moved to hdfc bank ( 2 years ) , i had seen even chiefmanager 1 ( one level higher of m2) working as branch managers in icici retail branch banking..
i am not surprised why the icici staff opting for this programme is less..
as per my enquiry the in hand salary told to me was 90 k normally
but i am critical of that 90 k, even if it is 90 k thing to consider is
the role offered, u shud be ok if u dont go to sales role.. if u r IT vertical then no problem u can give it a try .. but try not to go into relationship role ( sales) ..
all the best it is a mixed package of pros and cons .. but being alert and aware can help u all..
never try to close ur eyes for explicit truths ....i dont know why hr is not telling the actual credit amount in ac after tax, after other deductions .. any how u people can try to contact the first batch coming out this year from niit...
@anujcareer24 .. u can join if u know u get in NON sales job.. which is very rare.. they will not commit u the role and location now..
cost of relocation..
2 year without earning and all.. its ur call...also icici BLP is new to all including hr and current staff in bank..nobody knows the status.. and hr is still refusing to be transparent...
@anujcareer24 said:Hi Guys,I have a few concerns before saying a final yes to this programme.. Please advise with your suggestions:1. Value of Degree of NIIT university out side ICICI2. As per my conversation with HR, The loan period will be for 5 years after MBA and we cannot prepay the loan (so the total lock in period become 7 years (2+5), this was confirmed by HR...3. Most of the profile that are offered are purely sales based profile including life insurance with high targets (Confirmed from candidates from previous batches and employess from ICICI).4. Break up of CTC - HR told me that In -hand after deducting the EMI of around 9500, TDS and other things would be around 70 k....(Is this true), guys pls advise...... 5. Place of posting and profile (Not clear at all- We also need to consider the cost of living with or without families in cities other than our home town).6. No increment and promotion for the the initial 3 years..7. We have to submit all our original documents to the bank as a security for the next 7 years.8. Work culture at ICICI- which is not very good.Guys, Pls help with your suggestions as i am not sure to say yes to this programme.Best Regards and no offense to anyone.
1. It is Approved by Govt of Rajasthan. Yes U can't compare with IIM's, still I feel the kind of exposure u will get during Intern/Job will be tremendous.
2. You can Pre pay remaining amount after 3 years on Job. So in short Bond period is only for 3 years.
3. Can you plz gave the details of Sr Batch candidates so that I can talk to him. I totally disagree. Insurance will be entirely diff company of ICICI Group. We will be posted in CBG/Risk/IT where no sales is required.
4. 1 Yr NISM program guys were getting 83k inhand (12.5 mentioned + 1.2L HRA for Tier 1 City). So pl be bit logical as we will be getting more than 15L
5. Posting will be decided by HR / Business head depends on demand & supply at the time of your joining. However Profile depends on your Past Exp/Grades during Term 1 & Personaliy Test.
6. We will be eveluated every year & u can expect appraisal in the month of march.
7. Yes we have to submit all original docs for 5 years ( 2 yrs MBA Program + 3 Yrs Job) not 7 years. Pl be sure that they keep your doc very safely ;)
8. Culture is good as we will be posted in corporate section. Life in Retail is entirely diff.
I tried to ans at my best. still if you have any ques then let me know.
@998420
Dude,
All these questions have been answered previously by some of your other batchmates...
I'm still amazed, how ppl here can be so influenced by some frustrated RETAIL BANKING employee....
And by the way... the best way to put an end to the endless discussion, would be...Any of the senior batch fellow could share the experience and the nature of work you did/ doing in internship...Please keep the description very precise and descriptive instead of just quoting as good exposure...
I hope someone could do that....and we all would be very greatful
HR confirmed that we can't prepay loan at any point of time. It will be of complete 5 years duration, no chance of prepayment. (though binding but can't be considered a negative point)
On Counselling day >> thay told abt take home for this programme as 90-95 K after all deductions.
also Got to hear about pays >> ICICI pays 10%-12% less than its competitors for same profile. Source: Pay comparison.
But can't be sure of this claim unless we get real feedback from 1st batch passing this april by may/april next year in 2014 when appraisal cycle finishes.
All:
One negative abt this is Moreever They don't divulge what OPQ says about us.. Guyz please try n ask from HR's if you get any answer on this.
On Counselling day >> thay told abt take home for this programme as 90-95 K after all deductions.
also Got to hear about pays >> ICICI pays 10%-12% less than its competitors for same profile. Source: Pay comparison.
But can't be sure of this claim unless we get real feedback from 1st batch passing this april by may/april next year in 2014 when appraisal cycle finishes.
All:
One negative abt this is Moreever They don't divulge what OPQ says about us.. Guyz please try n ask from HR's if you get any answer on this.
@dcoolfire Hey, Do have any idea abt the profile offered.... I got to know that most of the profiles are sales profile with very high targets and pressure....
And as per my info goes, the inhand would be 70 -75 k after Emi deduction
Guys a simple calculation,,
CTC- 1500000/12= 125000/month
TDS- as per the current income tax slab.... and taking into consideration exemptions under sec 80 c/80d, home loan etc.....
it will come around 25000/ month
Therefore, 125000- 25000 = 100000
Now, Lets deduct EMI of 9000/ month and as per HR 25 to 30% of 15 lacs is variable.......
So inhand automatically will be around 70 K.
@ All....
When a company gives U a bond to sign on.. Liability lies on both sides of the Table... As you are skeptical about the Organisation.. the organisation will stay skeptical about you ditching them midway... It's understood and only fair that such stringent bond conditions are there..
I am not an ICICI employee so I can't comment on work culture. But just think for a while why 1 guy from ICICI (at least he calls himself so) is writing 2 pages of bullshit in total Nonsensical English (mind You he is a 3 Year experienced officer) and in such desperation, almost begging of You to not join this course. A company(the best private bank in India) whose reputation is
is getting ruined is doing nothing about it, shows that it has a class.
I am not sure If I will join This or not(Like most of you), because of other opportunities. Some in this forum already have posted a High In-hand Salary. Such people need a deeper introspection. But all the discussion should have run It's course for Now. These endless mud slinging discussion is not going anywhere. Take a stand. Find out sources. Trust their answers. Posing the same questions repetitively will not serve anyone's cause.
@998420 Thanks for Your Post. I have heard what I needed to.
Arnab...
@sriram82 said:@NICK_SAMhi all, see this link also this is not by me but somebody in net.. search for link like this http://lexindica.hubpages.com/hub/ICICI-Bank-The-Worst-Employer-Among-Indian-Banks
hi guys,
there r already 400 fools joined the program.
The kind of feedback n expectations some people r having here ,in one line i can say they do not deserve to be the part of corporate banking,risk or IT.They only deserve retail banking.
n for package info,people joined wid package 12.5 r getting 80 to 87500 in hand.
Anyways it doesnt matter to u all.
gud for you n for us also.
@NICK_SAM said:@sriram82 I think i'll reject this offer.....have a close opinion with the first batch and then decide to apply again or not.....this is a serious booby trap....i guess they stopped recruting from top colleges only becoz I am sure none of them stayed with the bank for more than a year..for sure...after having such bad experiences......so this 3 years bond is a serious TRAP..for mediocre people like us..!!..am seriously thinking now..
look boss,if u deserve to be there in top iims n harward,kellogs,no need to come here.
But dont u think u have anything den u already got in some colleges in last 3 years.
this program is not for perfect people like u.apply for iims if selected den leavethe offer after taking feedback n go for kellogs harward.
@sriram82 said:@pk.rider4u ..hi dude this is suitable for u if u cant get 70 k after 2 years in ur current job..consider1. break in earning for two years2 .saturday full working day3. cost of relocating to a new place with spouse ( if spouse is working that income is lost temporarily) and with kid and or atleast with parents..4. what ever positive hard work u plan to give in this programme give it in your current job and improve from there.. consider doing some specialised IT course related to ur field..5. try to get into IT vertical of icici bank directly from current job with a hike.. are u ready for that.. if not ready for that how can u be ready for the same job with bond?6. if working in IT vertical is gud why cant u guys directly apply to IT vacancies? how many of ur colleagues has joined in icici bank in technical dept aerlier..? think all this and still u have better answers u can go ahead with a positive mind...most of us join a job with so much positive attitutde ( our current job including) and later forget the very same positive things andlook them anywhere else. sure while joining ur current job u wud have joined with the same mindset that u have now abt icici
saying again saturday is working day only for retail banking.not for IT,Risk.
@dcoolfire said:HR confirmed that we can't prepay loan at any point of time. It will be of complete 5 years duration, no chance of prepayment. (though binding but can't be considered a negative point)On Counselling day >> thay told abt take home for this programme as 90-95 K after all deductions. also Got to hear about pays >> ICICI pays 10%-12% less than its competitors for same profile. Source: Pay comparison.But can't be sure of this claim unless we get real feedback from 1st batch passing this april by may/april next year in 2014 when appraisal cycle finishes.All:One negative abt this is Moreever They don't divulge what OPQ says about us.. Guyz please try n ask from HR's if you get any answer on this.
I'm requesting/ pleading...and asking again and again.....
PLEASE READ THE OFFER FROM ICICI, (if you got one)....
You can prepay the loan after three years...but with the prevailing market interest rate....And that's pretty fair...Why do you think ICICI should do a favor, if you are leaving them....
OPQ result analysis needs one to be trained or atleast good in English.... Believe me..it really shows who you are... i had done it twice once for ICICI and once in my current org... the results are very similar....And you can always persuade the HR...if you can prove your mettle, and how you are right fit for the specialization reqd....
This course is two years old...so i guess ppl had enough tym to enquire and decide about the course...
@998420 said:1. It is Approved by Govt of Rajasthan. Yes U can't compare with IIM's, still I feel the kind of exposure u will get during Intern/Job will be tremendous. 2. You can Pre pay remaining amount after 3 years on Job. So in short Bond period is only for 3 years.3. Can you plz gave the details of Sr Batch candidates so that I can talk to him. I totally disagree. Insurance will be entirely diff company of ICICI Group. We will be posted in CBG/Risk/IT where no sales is required.4. 1 Yr NISM program guys were getting 83k inhand (12.5 mentioned + 1.2L HRA for Tier 1 City). So pl be bit logical as we will be getting more than 15L5. Posting will be decided by HR / Business head depends on demand & supply at the time of your joining. However Profile depends on your Past Exp/Grades during Term 1 & Personaliy Test. 6. We will be eveluated every year & u can expect appraisal in the month of march.7. Yes we have to submit all original docs for 5 years ( 2 yrs MBA Program + 3 Yrs Job) not 7 years. Pl be sure that they keep your doc very safely 8. Culture is good as we will be posted in corporate section. Life in Retail is entirely diff.I tried to ans at my best. still if you have any ques then let me know.
@7sanjay.b said:@998420Dude,All these questions have been answered previously by some of your other batchmates...I'm still amazed, how ppl here can be so influenced by some frustrated RETAIL BANKING employee....And by the way... the best way to put an end to the endless discussion, would be...Any of the senior batch fellow could share the experience and the nature of work you did/ doing in internship...Please keep the description very precise and descriptive instead of just quoting as good exposure...I hope someone could do that....and we all would be very greatful
Guys..+1 to you both...These are point blank correct answers to the questions posted and i have verified it myself.
Just to put what you said from a more philosophical(read: shayrana) way:
Ghar se chale hai to manzil mil hi jaegi..
Gumraah to woh hai jo ghar se nikle hi nahi.
Just to put what you said from a more philosophical(read: shayrana) way:
Ghar se chale hai to manzil mil hi jaegi..
Gumraah to woh hai jo ghar se nikle hi nahi.
@anujcareer24-what were u doing all this while than analyzing it even before u could attend the interview and getting the offer letter , Ur place could have been occupied by a deserving candidate ,who really have the zeal to pursue this study . u wasted a seat in this university .