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If you have been with your company for 5 years, your severance pay would be $16,000. That works out to about $1600 per week, or $3200 for two weeks. Let’s say your salary is $80,000 per year. # of years with company X 2 weeks of regular pay = Severance Pay $ Total (5 years X $800 = $4,000)įor salaried employees, the typical calculation looks like this: So if you typically make $800 per week, and have worked at your company for 5 years, your severance pay would be $4,000. # of years with company X 1 week of regular pay = Severance Pay $ Total While your final number will vary from other employees receiving severance, most companies do use a pretty standard formula for calculating the amount each worker will be paid.įor hourly employees, the typical calculation looks like this:
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The answers to all of those questions will help determine the amount of severance pay your employer will offer. How long have you worked for your company?.What are the circumstances of your dismissal?.Are you a worker bee or part of upper management?.Are you an hourly or salaried employee?.The amount you actually receive could depend on many factors. Much like salaries, severance payments have widely varying scales.
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The most common question about severance packages is how much money should I be getting? As a result, workers who are laid off are wondering what their severance package should look like. So, an IT engineer with an annual compensation of Rs 40 lakh effectively earns 10X then what an average Indian household will earn in a year.With so many jobs disappearing due to cut backs and downsizing, severance packages are becoming more and more common. According to a research by a website called in 2020, India had an average household income of Rs 3,93,600 per annum. In the self-report section on the Glassdoor, we see that there are many mid-level and junior IT engineers in India who are earning between Rs 5 lakh to Rs 20 lakh per annum.Īlthough these salaries are not as high as what Abbot's tweet implies, these are still quite high compared to average remuneration in India. For Cisco India there are records of 68 employees with an average salary of Rs 11,40,017. Similarly, the average salary of an engineer at Ericsson in India is around Rs 5,62,041. For Tata Consultancy Services there are 22 reports on the website and they note that the average salary for an engineer is around Rs 5,00,000 per year. Depending on the experience, it ranges between Rs 6,81,720 to Rs 28,89,579. The average monthly base salary for an IT engineer at Google India on Glassdoor is Rs 9,68,926 on the basis of 3 people who reported their salaries.
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Although much depends on the company where the person is working, and his or her experience level. Glassdoor notes that the average salary of an IT engineer in India is Rs 6,92,585 per year. While there is no specific data that can be taken at face value, a quick look at Glassdoor, a website that lets people report their salaries, shows that IT engineers usually earn less than the figures discussed in the chat posted by Abbott. And obviously switching can take one so far, you do hit a ceiling in that," said another Twitter user in reply to Abbott.īut exactly how much IT engineers, who are not part of the startup ecosystem, earn? Their salaries are probably lower. A new normal for tech salaries for Indians is going to be established. "With remote work, talent can finally start looking at getting salaries compared to their global counterparts. There is a possibility when Abbot highlights high-salaries he is specifically talking about the start-up scene where "rock star" engineers are in demand not only within the Indian startup ecosystem but also by startups based outside India.