should I sign 'Bond' ?

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clmlbx

Technomancer
Hello guys and girls,

First time I am starting some serious thread in fact have a query..

I am a web designer and a Fresher to be more exact with no corporate experience but I am doing freelancing for last 7 months which is going well but I got suggestion-advice that I should get some job to get experience..

so I went for interviews from which two of them are very positive but problem is they are asking to sign a bond.

first one is for 6 months bond with 20K deposit which they will return after 6 months/bond completion and second one is for 2 years bond and they will keep all original certificate..

So I am not comfortable in signing bond.. so need an advice from you all please help.. need to reply ASAP..

Edit :

First company : gowebbaby
second company : diaspark
 
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OP
clmlbx

clmlbx

Technomancer
first thing is should I sign bond.. is it good .. second company is very reputed one..

let me make more clear

First company : gowebbaby
second company : diaspark
 

tkin

Back to school!!
Is it an option? I mean how important are you? Will those company hire you on your own terms? Without a bond?

I think the answers to these questions will give you your own answer and yes, as a fresher we all have to sign bonds, TCS, Accenture(not exactly sure cause I selected TCS), its not an option.
 

rhitwick

Democracy is a myth
Bond means for next six months you can't leave the company, if you they would keep that 20K.

If you think you would continue at least for 1yr signing bond is alright. Else, say your terms to them, see what happens. But, being a fresher hardly you would be heard.

2rs bond is out of question. Don't think about it (unless they are paying higher which could be a decisive factor)
 
OP
clmlbx

clmlbx

Technomancer
yes that is a point being a fresher every one asks to sign a bond.

second is it wiser to freelancing rather then job.. or you should some experience before you start on your own

Personally I am just doing this for experience I have no interest in working for others... would like to work for myself..

I actually talked to the first one.. and they decreased to 6 months at first they asked for an year .. but then they minimum 6 months.. and I don't think second company will even talk... today was the final Interview.. I was one of 6 they shortlisted.. they said they will let us know by friday.

well second company first said about an year bond and now in final HR meeting increased it to 2 years.. for first six months there offer was 1.4L/annul and next six months 1.8L/annul don't know about second year for now.
 

krishnandu.sarkar

Simply a DIGITian
Staff member
I was not aware about Indore. But here in Kolkata, generally this type of practices doesn't exists.

Exceptions are there, like some big firms.

Personally, I'm completely against Bond.
 
OP
clmlbx

clmlbx

Technomancer
^^ just to be clear bond thing is only for freshers. so it must be everywhere isn't it?
 

RCuber

The Mighty Unkel!!!
Staff member
Bonds are kept to retain freshers so that they don't run away after gaining knowledge from the company. bond security is either a deposit or handing over the certificates for the bond period. It is a very risky to hand over your certificates. unless you extremely desperate for a job, you shouldn't sign any bonds. its unethical for a company to demand security deposit. I have worked with many freshers over a period of time and I know their ordeal. BTW in my previous company my friend narrated his initial struggle as a fresher. A very posh looking company hired him as a fresher, IIRC he mentioned there were about 50 employees. they also asked for a security bond of 20K+. Looking at the office and the staff strength he agreed for the bond. monthly salary was suppose to be ~7K. After a month, there was a long weekend with declared holidays, but when they turned up next working day the office was empty.. no computers or other electronic items. even the building owner was in shock as he guy had to pay rent. 50+ employees were cheated.

Never Sign a bond.

look for a smaller company to work for.. you will get experience.. don't bother about salary initially(unless its too critical or your family cannot support you). salary will come with time.
 

asingh

Aspiring Novelist
Do not join. Show them the middle finger and walk off. They are holding you as mortgage or what, to harness their employee turnover. Please. These are cheap tactics, and am 100% sure the companies are even worse.

Also, never ever give original of any document to anyone. They can 'view' it for verification. And even if you keep photocopies of anything (PAN/license/marksheets); please cross them with a pen and write the reason. Example: "For cross verification of address". This will prevent misuse. There is a lot of fraud going on.

Asking a money bond is even worse. Refuse, and do not join, even if they waive the bond or negate receiving original documents.
 

rhitwick

Democracy is a myth
If I'm allowed to say....all leading companies ask for bond for freshers. Its not applicable if you are an experienced person.

Just to name,
TCS
CTS
Infosys
Rolta (4yrs bond!!!!)
L&T
Patni
Mahindra Satyam
Wipro
 

krishnandu.sarkar

Simply a DIGITian
Staff member
Yes as I said, generally Big Firms asks for Bonds to freshers. and the reason is already mentioned by RCuber.

As per asingh and others siggested, I'd personally suggest you to stay away from all these. At times they can become worse.

Join from SOHO / SME's to gain experience. Generally you'd learn better in SME's than these Big Firms.

But at the End of the Day, it's totally upto you. Though the 6month bond looks fine to me. As anyone would spend 1 year anyways in a company. But never think of handing over your originals.

But as asingh said, these are cheap policies companies do for hiring freshers, so that you don't leave right then after learning :p

PS : Keep away TCS from that list, they don't practise these type of bond policies, at least not here in Kolkata, for freshers too.
 
OP
clmlbx

clmlbx

Technomancer
second is it wiser to freelancing rather then job.. or you should some experience before you start on your own

Personally I am just doing this for experience I have no interest in working for others... would like to work for myself..


any views on it. Well even I had a mind to deny their offers but needed an opinion that I am not making any mistake.
 

gopi_vbboy

Cyborg Agent
IMO
One word NO.You wont have freedom to change if you don't like your job.
It will lock you in the fear of paying the money.I still regret myself
joining a company with bond as i lost other good offers and couldnt join .

About the certificate thing, never ever do that.

But if you have any financial obligation, its upto you to decide.
 

rhitwick

Democracy is a myth
lol.... I served that bond.
I can verify from my juniors for present conditions

but, we are going offtopic here...lets stick to Op's issue.
 

RCuber

The Mighty Unkel!!!
Staff member
second is it wiser to freelancing rather then job.. or you should some experience before you start on your own

Personally I am just doing this for experience I have no interest in working for others... would like to work for myself..

any views on it. Well even I had a mind to deny their offers but needed an opinion that I am not making any mistake.

you should work in a company to gain first hand experience on how to deal with clients, understand their requirement and estimate the effort. Freelancing is good as you want to work on your own. but you need to consider the following.

you need to convince the client that you are capable of doing the work - best way would be to show case your work in your website / portfolio.

you should be able to convince about the fee you are quoting for the client. you should not settle for a lower fee just because you want to work/earn money. you need to set your standards first, justify your commitment you show towards the project and also the support you will be giving post deployment. with these points you should be able to convince a potential client to hire you.

you can master the above points only through experience. the best way to get experience is to work under a experienced person.

I would recommend you to join a company for 1-2 yrs, create a online portfolio and work on that side by side. also create free simple templates and put those up in popular template sites. once the general public start using your templates and you start getting popular you can start build very professional sites and start charging it. Also learn about various CMS available in the market, this will add weight to your portfolio.

hope this helps.
 
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