My idea of this post is that you may keep happily using this word till you are not fooling your self or getting fooled by your employer ( present or prspective ).
Actually when it comes to salary truth can be divided in two :
Monthly : Right side bottom of your salary slip i.e what get's credited
What bloats CTC artificially ? Let's study some of these factors , you must know this . Check out your offer letter / appointment letter or promise of your placement consultant
House Rent Allowance ( HRA ) :
Check the finer print , it varies from location to location . You might get transferred to Indore and your package may mention your HRA as per Mumbai . See how your real salary reduces .
Interest on Loans :
You may be offered a subsidised loan and the difference would be added to your package aka CTC . Check out for :
- What's the difference in the rate of interest calculation ?
- When you'll be elligible for this loan?
- Any clause that says that in case you leave with 2/3/4 years this portion would be reversed
Biggest of myths , your package may include performance bonus at a certian rate , check out for :
- When you'll be elligible for this ?
- How this has been calculated ? Average , At least or Maximum Elligible
At times you may find whole lot of allowances included in your package , Beware and check out for :
- Whether payable monthly or annually?
- Any elligibility condition?
- Any expenditure proof required ?
These some of the artificial inflationers , do check out for the complete offer carefully ask questions ( as many times as you want ) and then decide .
Till then keep quoting your CTCs happilly to the world ( Indian government or thier employees are still happy quoting their basic salary scales and actually their take home is much more than that including DA etc )
Must say that some organisations have started simplifying this CTC concept and are quoting what can be actually called WYSIWYG.
What you see is what you get , Can you say this for your salary and appointment letter ?