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  • Category: IT jobs

    Is it advisable to sign 3 years bond ?

    Wondering whether one should sign a bond to get a job at a given CTC or should look further for new jobs after completing BE education? Ask for more information about bond contracts in a company over here.

    I got offer from Financial Software and Systems(FSS) as a Software Engineer-Trainee

    Bond- 3 years
    Bond value - 3 lakhs

    Is it advisable to sign bond or should I look out for other opportunities IT ?

    I'm a B.E CSE Fresher
  • Answers

    4 Answers found.
  • Employees in an IT based companies' are required to sign a bond so as to retain them for a minimum period of time. In some companies there are bond of 1 year , 2 years or even 3 years. The decision whether to sign a bond of three years should be taken after considering some of the points, those are as follows:

    Are you going to lookout for another IT based company within the duration of three years and is planning to move if you get a better opportunity in another company, then you shouldn't sign a bond of three years.

    If you think that the salary that they are offering is way expected than yours and you are planning to continue with the company more than three years then you should sign a bond of three years with the company.

    It is also advisable that you clear all your doubts and queries with the company HR before signing any type of contract.

    Considering the above mentioned points, you can decide on your own whether to sign a bond of three years or not.

  • Hi,
    Well I have seen my friends go for jobs that have one or 2 year bonds. But 3 year bond is something new that I am seeing. But I suppose this must have been done to take care of the huge employee turnover. You must have seen that today nobody stays in the same job for quite a few years. Everyone looks for growth. So they move from one job to the other.

    So if you are on a 3 year bond and that too worth of 3 Lakhs then you will not be able to leave the company for at least 3 years. If you do then you will have to give the amount that you signed for in your contract. In your case the amount is Rs.3 Lakhs. It is a whopping amount. So do not take any rash decision after you join the company. But having said all this if the company decides to terminate you then you do not need to pay anything, since it is the company's decision.

    This was about what happens if you join the company. Now the question is whether you should join the company. Now this depends on the reputation of the company.Try and check this out with your friends and seniors who have joined the company previous year. If it is moderate also then join the company. Today getting a proper job is becoming rare and very difficult. So don't let go your opportunity. In the meanwhile keep looking for better companies and give interviews there. From this company you will have a 3 year experience that priceless in today's world. This will ultimately lead you to better opportunities. Also it may happen that your current company gives you better opportunities and if they are really content with your work then they might give you better and higher opportunities in the company itself. So think about it.

    Live life Kingsize!

  • Signing a bond is an unavoidable and mandatory formality in most of the companies. They do so to extract much from you other than the training expenses in this due coarse and to have a strong permanent employee database by which a company's quality can be assessed.

    congratulations for having recruited in a company! You might be knowing about how many engineering graduates are facing tough times to get a good job. So keep this in view and take an apt decision for signing your bond. The other factors which you must consider before doing so are as follows:

    1. Company assessment:
    Know what is the current ranking of your company in a group of software companies. Does it have a tags like "fastest growing company" or "best employee training company" in market? Then I advice you to opt for it.

    2. Working environment matters:
    Know how your company treats their employees and what is the working environment there. It is best to choose a hassle free working environment and a company which feels that their employees are an asset to it.

    3. what you are working in? :
    It is good to know on which domain you will be working in for rest of 3 years. Is that domain or field has a good future in market? must be noticed.

    4. What you are working for matters:
    Please make sure about your salary particulars before signing the bond. Make sure that you will see yourself in company's permanent employee database after probation period and your salary increases regularly. It is good to assess your self that how much you are worth after leaving your company.

    Wish you a happy career.

    Venkat Satish Mamidisetti,
    Power Plant Operations Engineer.

  • TThis response is marked as DELETED by the admin.

    I think it is important and useful for the employees in It companies to sign a bond. I read rushmyessay review which helps to understand the importance of this question and also provide further details for this.

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