@subho7668 I'm still not sure about it... but the last conversation i had with HR, they told that the results are completely been rolled out..and there's no more offers going to be made for this batch..
Dear All,
This is a brief discussion with AM2 manager in ICICI with 4 years of exp with ICICI who rose from a PO position to AM2 in international corporate banking and would be joining with us in Neemrana.....
Q> How is the profile?
A> Very good, considering the specialization and internship the entire program has been designed in a very magnificant way to make one the pioneer of Banking industry.
Q> How is the work profile in ICICI?
A> The way it is supposed to be in a Private banking industry! Please don expect to have a confortable government life on the basis of 1 written test, 1 GD PI and 2 years of sponsored MBA program.
Q> could you please elaborate that?
A> M2 position is not a position where u just take decision with a pipe in your mouth...U perform u succeed...U have to be in the Talent pool to make progress...Next promotion is the level of CM1 which would only come in 4-5 years based on your performance rating...should never sink below 2(1 to 4).
Q> One commonly sought question is the CTC(15 Lakhs). what would you say on that?
A> should be around 80K take home considering the variable pay of ICICI, tax of around 10-15K pm and loan repayment of 10K pm...
Q> But that is no where near to 15L CTC and NISM guys are claimed to have recieved 85-90K in hand with CTC of 12.5 L
A> I don't know about NISM fellows with CTC 12.5 and recieving 85-90K..Whenever someone is getting higher take home with less CTC, it is obvious that variable pay(Bonus) is reduced and loan repayment amount is less. I have people in ICICI at CM1 level who get 1L PM at a package of 13L CTC. so don't think what is shown is what you get. Rather why do you think that HR has not yet discolsed the CTC breakup to people who would be joining the bank this APR...the batch of 2011. If it was that easy or straight forward It would have been given on the day of your joining the course. Don't Expect Clarity as in Government job profiles with specific pay bands and Take home perks in a private company where CTC is the EYE CANDY for attarcting cadidates.
Q> Can we prepay the loan?
A> Yes you can! but being in the banking industry i know it is not feasible to prepay the subsidized loan those who are a part of it would agree with me. And definitely I wouldn't do it
But yes you can at market rate. See the entire BLP program is similar to the grounds of PO program only considering the program structure and nothing more.
Q> But that means We are locked for a period of 5-7 years in the bank!
A> Yes ofcourse! why do you think ICICI is doing this for you? to train you spending so much on you and so that you serve someone else in the end? Thats illlogical! Not even ICICI but any company which does this will always have some or the other locking strategy. COMMONSENSE PLEASE?
Q> Then on what basis should we decide whether to accept the offer or not?
A> First of all understand who you are what you are and where do you fit? don't accept the offer just for that 15L CTC shown on Website. If you are very much interested in banking then this is the best option you have otherwise this could be your worst.
Work pressure is there, If you can't handle it, don't come. But at this stage if u r afraid of pressure please try a government job.
Q> One more common thing which most people would ask is the work timings
A> Morning 9 to (work load basis)
Q> Oh!!! and Saturdays-Sundays?
A> I have the IT team which work on alternate saturdays and relationship and risk would be 5 days a week give or take couple of saturdays
Q> Would everyone who has opted for IT would get it?
A> HAHA! At the end of 2 years, where there is vacancy you would be there say it is RETAIL, SALES, RISK or RELATIONSHIP. Everything depends on the market scenario and need.
Q> Having said all these, Why are you still continuing?
A> Because I love ICICI, I am a member for the last 4 years and I would be a member for next 5 years as well. Boss Banking is same everywhere.. I selected banking because i have passion for it. Having worked from Branch desk to International corporate banking i know the in and out of it. Would be stupid of me to reject this offer..It is a dream come true for me. Hope its almost or somewhat the same for you too. If it is not then you are making a mistake.
@ri026418 and 1985Amit
I would appreciate to add to this or correct this based on your experience so far. Please believe me this is a authentic source. You can PM me i will give the contact number as well if required.
@anujcareer24
thnx bro! Its only one person's view who is a member of ICICI and can be trusted.
I only added this discussion so that misconceptions are not included and an actual scenario is presented...
Guys if you have already decided don't change your decision. but if you haven...Think it over...You only have one shot...You should be where u deserve to be....2 years down the line don't feel cheated and repent on your decision....This is life and you are about to trade 5 years of your important phase of life. I am joining based on my PROS and CONS calculation. :-)
@aayan4evry1 said:Dear All,This is a brief discussion with AM2 manager in ICICI with 4 years of exp with ICICI who rose from a PO position to AM2 in international corporate banking and would be joining with us in Neemrana.....Q> How is the profile?A> Very good, considering the specialization and internship the entire program has been designed in a very magnificant way to make one the pioneer of Banking industry.Q> How is the work profile in ICICI?A> The way it is supposed to be in a Private banking industry! Please don expect to have a confortable government life on the basis of 1 written test, 1 GD PI and 2 years of sponsored MBA program.Q> could you please elaborate that?A> M2 position is not a position where u just take decision with a pipe in your mouth...U perform u succeed...U have to be in the Talent pool to make progress...Next promotion is the level of CM1 which would only come in 4-5 years based on your performance rating...should never sink below 2(1 to 4). Q> One commonly sought question is the CTC(15 Lakhs). what would you say on that?A> should be around 80K take home considering the variable pay of ICICI, tax of around 10-15K pm and loan repayment of 10K pm...Q> But that is no where near to 15L CTC and NISM guys are claimed to have recieved 85-90K in hand with CTC of 12.5 LA> I don't know about NISM fellows with CTC 12.5 and recieving 85-90K..Whenever someone is getting higher take home with less CTC, it is obvious that variable pay(Bonus) is reduced and loan repayment amount is less. I have people in ICICI at CM1 level who get 1L PM at a package of 13L CTC. so don't think what is shown is what you get. Rather why do you think that HR has not yet discolsed the CTC breakup to people who would be joining the bank this APR...the batch of 2011. If it was that easy or straight forward It would have been given on the day of your joining the course. Don't Expect Clarity as in Government job profiles with specific pay bands and Take home perks in a private company where CTC is the EYE CANDY for attarcting cadidates.Q> Can we prepay the loan?A> Yes you can! but being in the banking industry i know it is not feasible to prepay the subsidized loan those who are a part of it would agree with me. And definitely I wouldn't do itBut yes you can at market rate. See the entire BLP program is similar to the grounds of PO program only considering the program structure and nothing more.Q> But that means We are locked for a period of 5-7 years in the bank!A> Yes ofcourse! why do you think ICICI is doing this for you? to train you spending so much on you and so that you serve someone else in the end? Thats illlogical! Not even ICICI but any company which does this will always have some or the other locking strategy. COMMONSENSE PLEASE?Q> Then on what basis should we decide whether to accept the offer or not?A> First of all understand who you are what you are and where do you fit? don't accept the offer just for that 15L CTC shown on Website. If you are very much interested in banking then this is the best option you have otherwise this could be your worst.Work pressure is there, If you can't handle it, don't come. But at this stage if u r afraid of pressure please try a government job.Q> One more common thing which most people would ask is the work timingsA> Morning 9 to (work load basis)Q> Oh!!! and Saturdays-Sundays?A> I have the IT team which work on alternate saturdays and relationship and risk would be 5 days a week give or take couple of saturdaysQ> Would everyone who has opted for IT would get it?A> HAHA! At the end of 2 years, where there is vacancy you would be there say it is RETAIL, SALES, RISK or RELATIONSHIP. Everything depends on the market scenario and need.Q> Having said all these, Why are you still continuing?A> Because I love ICICI, I am a member for the last 4 years and I would be a member for next 5 years as well. Boss Banking is same everywhere.. I selected banking because i have passion for it. Having worked from Branch desk to International corporate banking i know the in and out of it. Would be stupid of me to reject this offer..It is a dream come true for me. Hope its almost or somewhat the same for you too. If it is not then you are making a mistake.@ri026418 and 1985AmitI would appreciate to add to this or correct this based on your experience so far. Please believe me this is a authentic source. You can PM me i will give the contact number as well if required.
Yes,
Watever he has said is 100% correct.I dont think he has given any point which will make anybody to reject this straightforward.
As I said before,if u r interested in banking n finance den this is the best launchpad which u ever get ,now its upto u how u r going to capitalise on it.
For me banking n finance is my passion,so getting into my passion wid any number of odds is ok for me.
The only thing which I want to correct here is in dat 12.5 lakhs package ,in hand is actually 83-88 k bcox he or you did not consider 10000*12 extra HRA which they r getting in tier-1 and metros.
Yes people are here in ICICI at M2 level in the range of 13-20 lakhs(yesterday discussed with one batchmate who was M1 b4 joined here).
And what he said about promotion is 100% correct,CM1 is very senior position n not everybody ll get dat after 2-3 years.
@1985amit
Hey Buddy, Can u pls throw some light, if u have any info of the inhand component of CTC between 13-20 lacs for M2grade as per your above post .....
Hey Buddy, Can u pls throw some light, if u have any info of the inhand component of CTC between 13-20 lacs for M2grade as per your above post .....
Also as per @aayan4evry1 post, there are people at CM1 grade who are at a package of 13 lacs with in hand of 1/month.
My only point is i totally understand that in all private jobs the CTC is divided into fixed and variable pay... But before moving to another organization we are normally informed about the break-up of CTC and various other components.......
Why the things are not so transparent in this case.......
Guys.. has every1 put down their papers?? What about those wid 3 months notice period or wid 2 months period but yet to resign?. Did u guys talk to HR about it.. if yes what was their response. What if the notice period overlaps that of the course commencement i.e. 26th April..
@anujcareer24
The person who is at CM1 at a package of 13LPA shifted from a different organization....It is there where u negotiate with HR on your variable and fixed components and exact take home salary...
But in our case the BLP is a fixed designed program and we accept the terms mentioned....there is no negotiation here....and hence the variable package will remain a pandoras box untill the first batch passes out and draw the 1st salary.....
also guys one more thing to add in the previous qs asked to AM2 manager today which i forgot to include....
Q> What is the average hike a person gets in ICICI?
A> Completely depends on the peformance of the company...for eg in the year 2008....2009 0% hike was given...as it was told to me for 2008.....and in 2011 and 2012 around 3-4K pm increase in tek home...(I am not sure of the exact years he mentioned)
Q> 3K-4K PM?? Thats it?
A> Yes its the regular hike in banking sector....People also get 1K hike per year....It is not like %age hike you get in services and IT....
@1985amit & ri026418
This was one thing which i wanted you to clarify about the hike....and completely forgot in the previous post..
@anujcareer24 said:@1985amitHey Buddy, Can u pls throw some light, if u have any info of the inhand component of CTC between 13-20 lacs for M2grade as per your above post .....Also as per @aayan4evry1 post, there are people at CM1 grade who are at a package of 13 lacs with in hand of 1/month.My only point is i totally understand that in all private jobs the CTC is divided into fixed and variable pay... But before moving to another organization we are normally informed about the break-up of CTC and various other components.......Why the things are not so transparent in this case.......
boss,
u r going to join after 2 years not now.no org can commit ctc after 2 years,at least they have commited this.
i already put in hand n number of times before but it seems u only consider wat u want.
ohk u ll get 60k in hand after 2 years dis is wat u wanna hear.
i dunno y out of 10,8 quess r coimng only for ctc.
just check previous posts when last 4 batches joined n see how many questions were raised for ctc?at least 50% less from dis batch.
b4 2 days u guys were focusing on post which said(shriram) dat out of 15, u ll get 70k in hand n now u r focusing on 1 lac in hand per month out of 13 lacs.
we who all r joined r fools n u guys r intelligent creatures of the world. icici ll be lucky enough to have u.
I still dont understand y u applied for dis much uncertain program,u could have enquired about dis b4 n opted out of it.
HR is not ready to confirm to the remaining candidates that they are not selected. The reply received was "You would be intimated on the further process". Is it possible few more selections are yet to be intimated?
@banshire I think they'll confirm once they have list of candidates who are selected and willing to join the program. Based on number of those who refused to join, they'll send offer letter to equal number of waitlist candidates.
IMHO
IMHO
I will probably drop the offer. May be one of u get a chance in my place. I have nt sent the confirmation mail yet. Neither the 10000 nor the medical
@aayan4evry1 bhai true to this fellow.let me if he is Pawan ....most of the things he mentioned correctly.....
.>>>>regarding the NISM program.....it follows the same structure ...as our except for grade ...so ...for a premium of 2.5 lacs...you can easily add 10 k per month additional...to their take home ...at tier three ciy like Nagpur....more for Mumbai Delhi......
>>>>>Regarding the CM1 package ...very true people might be drawing less...as compared to us in future ... reason ...they may have rose to this lvel ..with regular annual increments or have joined at negotiated package based upon thier last CTC.
>>>>>>regrading hike....As per words of DGM HR who came to address us Mr Pauls Dlemma.......when I myself asked him ....he replied .."why will you not be considered ...give me one reason to leave you out "
>>>>>>>risk/relationship......5 days only ....if required ...you may work for long for your own sake ......to learn and to do well and to excel..........
>>>>>>>>>>I disagree to the one statement.....as compared to PO program ..guys are send to any stream...as they have to start there career ...in our case at M2 in retail we will be nothing less than Brach manager..........be a bit logical......those who dont hold previous similar /ex ICICI employees ...no one else will be send to Retail.....as per my discussion with HR ( that too if there is requirement and someone is interested) as I was interested in retail as well....>
>..regarding our CTC...what ever we calculate or speculate......until the first batch draws its 1st salary ...nothing can be sure...........you may all hold on till than for whom package is the only criterion.......
one question to you all..............during where in campus interview do you find the HR discussing the Break up and ..and assuring your exact profile and location ......and even if they .....how many times they have stick by that............be it any college......can you really demand for all these during campus placement .................max to max you can choose not to sit....
" a real story.....@IMT Ghaziabad/nagpur...few years back ....during final offers were made...a candidate rose to argue for a clause in offer letter ..that he does not agree ...HR said to him ..you are than free to leave.............""""""""""
think twice ..guys...this is not a mere MBA .. neither a full employment offer..from day one ......where you can negotiate.........you cant better than this if you want to work hard for rewards....and want to get into core finance field.....
@aayan4evry1 ....grt work....nice calculation , I welcome you aboard.....one shud wigh the pros and cons...for decsion making .....which u did....cheers@bhagithaki if it overlaps for a day or two , it does not matter.....as you can join a day or two late...jsut inform the program coordinator ....from college
@aayan4evry1 ....grt work....nice calculation , I welcome you aboard.....one shud wigh the pros and cons...for decsion making .....which u did....cheers@bhagithaki if it overlaps for a day or two , it does not matter.....as you can join a day or two late...jsut inform the program coordinator ....from college
@priyranjansingh they dont even hold the position of M1 even in their first year.....they are MT.....only......and have no practical knowledge to excel even in first year...but we will be M2 with more than ready to go for kill from day one ..........
@ri026418
Believe me or not....U r one of my PROs...:-) so is AMIT.....
C you both soon on the campus.....
Puys few queries....
1)Will ICICI give any confirmation dat they have received medicals ,deposit slip,signed letter sent by us???
2)how we will come to know that they have received our acceptance of offer???
Thnx in advance
@Shaan022 I got mail for receipt of medical reports today. The test was conducted at Piramal diagnostic (1st Mar)....i.e. sent to bank directly by diagnostic center....
@agarg84 : thnx , actually i gt test done by local center as piramal was nt in delhi and then sent reports to icici , however no receipt response