Can you explain Mu Sigma pay structure for freshers?

For the 2013 passouts, Mu Sigma changed the compensation system.

The three-year net salary is 18 lacs.

You would receive the complete sum without incurring any losses; however, this is contingent on joining the organization.

The optimal time to join is December because you will be eligible for the next promotion cycle in precisely one year.

You would be 3-4 months behind schedule for the first promotion cycle in all other circumstances.

Early Salary structure

1st year: 3,00,000 gross + 30,000 variable + 75,000 bonus = 405,000 (bonus is paid at the first year end),

2nd year: 500,000 gross + 50000 variable + 75,000 bonus = 625,000 (bonus is paid at the second year end).

3rd year: gross 560,000 + variable 65,000 + bonus 150,000 = 775,00

For three years, the total package is 405,000 + 625,000 + 775,00 = 1,805,000. (i.e 18 lacs)

#Note: For BA and SBAs, the variable payout is 100%.

The variable is added to the gross compensation for 2013 passouts, and the first-year bonus is increased to 120,000 instead of 75,000.

Updated Salary structure

1st year: gross 330,000 + bonus 120,000 = 450,000 (bonus is given in the Jan cycle; hence people who joined in May-June would need to wait for 1.5 years )

2nd year: gross 550,000 + bonus 75,000 = 625,000

625,000 gross + 75,000 bonus = 725,000 in the third year

Total three-year pay = 450,000 + 625,000 + 725,000 = 1,800,000. (i.e 18 lacs)