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Topic Review (Newest First)
07-08-2011 03:03 AM
Unregistered
Quote:
Originally Posted by YGYGYG View Post
Is it true that salary offered to scholars by the sponsoring company is lower than market rates?
I was from HR and BOTH of you are right in ways.

Scholars will get the SAME market rate as their PEERS within their same age band.
However, as they are 'scholars' who are supposed to be driven and intelligent, they will oversee more portfolios (usually double) within the organisation. this is basically having 1 person, 1 salary, 2 jobs. - this is monitored very carefully by the Talent Management Officer.

Even if the scholar is shown not to perform, they will still get 're-designated' upwards(we cannot show that our "scholars" are poorly chosen). this serves in 2 ways

1) it safeguards the organisation's reputation for talent identification
2) it is a form of 'counselling' to leave. this is explained in the next paragraph.

For non performing scholars, as their designations go up based on the their progression roadmaps (and they assume more duties), their salaries however do not follow as fast. hence there will be a growing salary disparity between them and the staff of the same rank (who might only hold a single portfolio). this would eventually lead them to leave after their 1st contract, or break their bond (which is actually, not discouraged for many non-performing scholars).

In terms of economics, a scholarship is a 7-10 year depreciating 'asset' valued at cost. the cost of your scholarship will be equivalent to the cost of hiring 1.5-2 people for the duration of your bond, depending on the valuation of your scholarship.

however, should you choose to break your bond, it becomes a maked up valuation (this is usually masked in the prime rate interest), and the liquidated damages you will have to pay would offset the NBV of your scholarship with a profit. this profit is rolled over to offset the operating cost of hiring a new staff/staffs to cover your duties.

hence the more expensive the value of your scholarship, the more work you can expect to do when you return.

however once you finish your bond, my advice is to renegotiate your salary package when they offer you a re-contract. Many scholars don't know this and accept the 1st offer they receive. but truth is, after your bond is up, your financial obligation to the organisation is fulfilled, and you can ask for your money's worth.

there is no such thing as a free lunch.
06-08-2011 07:40 PM
Unregistered
Quote:
Originally Posted by YGYGYG View Post
Is it true that salary offered to scholars by the sponsoring company is lower than market rates?
Generally should be the same as market rate. People may think that HR will try to lower the pay, but there's a greater loss if the "scholar" chooses to slack until their bond is up and leave the company.

Some companies will cut your salary during your duration of study to offset the tuition fees.
06-08-2011 09:20 AM
YGYGYG
Salary of industrial scholars

Is it true that salary offered to scholars by the sponsoring company is lower than market rates?

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