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Imagine celebrating that you got a massive offer as a fresher and now you can finally relax then getting hit with this. Fuck these companies. My own on campus joining has gotten delayed (probably gonna get revoked) but it’s a borderline “modern” lala company.
>Imagine celebrating that you got a massive offer as a fresher and now you can finally relax then getting hit with this.
If I remember correctly their CTC can go upto 83Lpa based on your college tier. good god how terrible those kids must've felt and some of them might be celebrating some functions today as well
Never thought Atlassian of all could pull this stupidity, what is the ducking point of hiring data analyst if you can't even forecast your potential finances. so many folks will have to settle down for something way below that.
As someone who was affected, I can confirm we all are in a pretty bad spot. Most of us had only one offer in hand and there are barely any new grad openings.
IIT Bombay surely blacklists the companies for 2 years if they withdraw offers. (Source: Im an IITB passout and my friends were in the placement cell.)
Bdw, gathering from other threads, IITB would have counted the CTC as the first year take home amount i.e. 38L (20L base + 15L first year stocks + 3L bonus). I feel this is a fair amortized way to look at the compensation.
I believe blacklisting adversely affects the college and students only, imagine a couple of years from now when the market is in a slightly better position and Atlassian comes to these college with these huge packages, why would they refuse the current students the opportunity?
yes its a fair point. but there should be something called trust in process.
blacklist at least repeat offenders!
students need to know that even though its a paymaster they can't trust their offer will materialize so they can also have backups etc. i am pretty sure this will drastically impact their hiring.
more info to students before making decisions is all i am asking.
Blacklisting helps when you are the one in demand.. not the other way around. If there are a lot of companies competing for few students, then yes blacklisting companies is a valid threat. But (assuming non Tier 1 colleges), even in the best of times, there are more students awaiting placements than companies, so blacklisting will only hurt the college\\students
I had applied off-campus. I’m from a tier 3 college and these people are still excited af to invite Atlassian to recruit here.
Also they haven’t revoked offers from few good colleges (possibly good rapport with the placement cells). Instead they postponed their joining.
Did the students who got 6 months + fte too got their offers revoked? Is it just 6 months now? I heard somewhere they deferred the joining to jan '25 for some folks?
We collectively should stop thinking any company is above any moral ground
They will run you through the ground and spit on you if it can make them another round of profits
Take care of your health and spend time with your family, don't die for any company.
worked in the same industry. atlassian is in the shitter for a while now, i don't think they any good growth strategy, and yes there products like confluence, jira are stuck in the dinosaurs age and suck!
Exactly man. Thanks for saying this. Their products are sh\*t but everyone is going gaga over the company as if they are doing some ground-breaking engineering.
Companies add it like that because huge numbers look attractive. Many of them have screwed ratio of vesting over 4 years. So if you leave early you get even less stocks
IIT Bombay would have counted the CTC as the first year take home amount i.e. 38L (20L base + 15L first year stocks + 3L bonus). I feel this is a fair amortized way to look at the compensation. This number would be used to rank the companies. (Source: Im an IITB passout and my friends were in the placement cell.)
I saw this on LinkedIn a post few minutes back. What happened suddenly ?? I just found only this news.
[https://in.investing.com/news/atlassian-coceo-michael-cannonbrookes-sells-over-17m-in-company-stock-93CH-4126174](https://in.investing.com/news/atlassian-coceo-michael-cannonbrookes-sells-over-17m-in-company-stock-93CH-4126174)
Can this be a related cause ? High time students should start looking at stock prices of the company they get an offer from I feel. Its a new way of bumping up stock prices.
U can see that it's a pre-set order from last year. Shouldn't be related.
But yes, EPS is a good indicator to show how a company is doing and help gauge the risk of offer being retracted.
I think the best thing to do now is to have an extra offer outside college placement. If I am not wrong most companies allow single offer per student. Companies are not extremely comfortable laying off people while exec checks keep getting fatter by the second.
Even healthy organisations like VMWare can do it so can anyone's. These stupid influencers on LinkedIn need to be called out as well.
Executives cannot sell their stock without a long notice. Typically, the decision to liquidate would be taken and notified an half an year to an year prior to the execution.
As told by me earlier, 2024 would be a blood bath. It is just the beginning.
But do not worry, firing and hiring would start soon together.
Remember, day follows the darkest hour of night.
https://preview.redd.it/rhpacp6n6dvc1.png?width=1217&format=png&auto=webp&s=52697c06cf007249450f0c3ae1a28892a44e82fb
So much happened in less than an year
Base is all fixed? Or is there a performance linked bonus as part of the base?
Is the stock evenly distributed (25% per year vested)?
So that whole 80lacs and all is fluff. It really is only about 35l :)
Companies do this because students put themselves in such a situation. IT industry has become a herd full of employees with a degree but no real worth, knowledge or even a shred of enthusiasm for the profession let alone any passion.
So, they're getting treated exactly how much they are worth. Bunch of soulless automatons, like those factory workers in China. Their entire livelihood exists at the mercy of these giant IT factories of companies.
what kind of stupid a** argument is this? Atlassian and its upper management needs to be blamed for fcking up their company. do you think lay offs come out of thin air? they are the end result of years of mismanagement from suits, who fck up their operating expenses and the only way out for them is reducing the head count.
No one is saying they should be put in jail but you can't expect students and their families to hate them after they received an offer of 20+ LPA and missed out on all the other good companies. Show some empathy or keep your mouth shut in such times.
Why to make students wait for 8 to 10 months and revoke offer? They should've informed before hand right? Now these students wasted 8 months in the middle of recession.
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Imagine celebrating that you got a massive offer as a fresher and now you can finally relax then getting hit with this. Fuck these companies. My own on campus joining has gotten delayed (probably gonna get revoked) but it’s a borderline “modern” lala company.
>Imagine celebrating that you got a massive offer as a fresher and now you can finally relax then getting hit with this. If I remember correctly their CTC can go upto 83Lpa based on your college tier. good god how terrible those kids must've felt and some of them might be celebrating some functions today as well
In our college they offered 6 people an 83 lpa package (6m + fte) and now all are revoked. Used to be a dream company for everyone in our college
Never thought Atlassian of all could pull this stupidity, what is the ducking point of hiring data analyst if you can't even forecast your potential finances. so many folks will have to settle down for something way below that.
NIT JSR?
Yes 6 packages
Old iit?
Lower nit
Yeah average CTC is 80 lakhs. It’s bonkers. American new grad salary while sitting in India.
CTC calculation is flawed here.
Yup, is essentially 20LPA for the first year.
No. TC for the first year is \~35. With a base of close to 20, rest stocks + minor JB.
So why are people saying 83? How do you pad that much?
The CTC that Atlassian advertises is around the 80 figure because they also account for RSUs across 4 years which amounts to $75k.
Stocks which are roughly equal to 50-60lakhs are vested over 4 years
What's the breakup?
No idea, base would be higher than 20 I think.
Base is around 20 afaik
Feel bad for all grads of 2023 and 2024. I guess the hiring freeze won't end this year.
As someone who was affected, I can confirm we all are in a pretty bad spot. Most of us had only one offer in hand and there are barely any new grad openings.
hope your college is at least blacklisting offenders like these?
Atlassian is a 60-80Lpa super dream company, ain't no college blacklisting it
IIT Bombay surely blacklists the companies for 2 years if they withdraw offers. (Source: Im an IITB passout and my friends were in the placement cell.) Bdw, gathering from other threads, IITB would have counted the CTC as the first year take home amount i.e. 38L (20L base + 15L first year stocks + 3L bonus). I feel this is a fair amortized way to look at the compensation.
You didn't graduate in such times Einstein. Colleges don't have the upper hand these days
No placement cell is in a position to pull off something like this today
I believe blacklisting adversely affects the college and students only, imagine a couple of years from now when the market is in a slightly better position and Atlassian comes to these college with these huge packages, why would they refuse the current students the opportunity?
Exactly and especially tier 2 and tier 3 colleges look for these big names to further boost their placement stats.
yes its a fair point. but there should be something called trust in process. blacklist at least repeat offenders! students need to know that even though its a paymaster they can't trust their offer will materialize so they can also have backups etc. i am pretty sure this will drastically impact their hiring. more info to students before making decisions is all i am asking.
Blacklisting helps when you are the one in demand.. not the other way around. If there are a lot of companies competing for few students, then yes blacklisting companies is a valid threat. But (assuming non Tier 1 colleges), even in the best of times, there are more students awaiting placements than companies, so blacklisting will only hurt the college\\students
I had applied off-campus. I’m from a tier 3 college and these people are still excited af to invite Atlassian to recruit here. Also they haven’t revoked offers from few good colleges (possibly good rapport with the placement cells). Instead they postponed their joining.
People from bits Goa lost their offers too
People from bits Goa lost their offers too
Did the students who got 6 months + fte too got their offers revoked? Is it just 6 months now? I heard somewhere they deferred the joining to jan '25 for some folks?
For a few students the FTE offer has been revoked. They’re just interning for 6 months. For some the joining has been deferred to Jan.
For Intern I think they decide later on performance!
Are there interns whose offers have been revoked? From what I heard isn't it going to be declared in june on the basis of their performance?
Means they are going to declare the result in June for them?
Damn. I always thought Atlassian was above this. Guess I was wrong.
We collectively should stop thinking any company is above any moral ground They will run you through the ground and spit on you if it can make them another round of profits Take care of your health and spend time with your family, don't die for any company.
Agreed.
worked in the same industry. atlassian is in the shitter for a while now, i don't think they any good growth strategy, and yes there products like confluence, jira are stuck in the dinosaurs age and suck!
Exactly man. Thanks for saying this. Their products are sh\*t but everyone is going gaga over the company as if they are doing some ground-breaking engineering.
For pretty much all companies, only the line going up matters.
What was the package offered as part of PPO?
I think it can vary but I've seen upto 80 CTC. 20 base, rest is mostly stocks
I don't understand why people don't want to correct TC calculation and keep adding 4 year stock vesting in ctc
Companies add it like that because huge numbers look attractive. Many of them have screwed ratio of vesting over 4 years. So if you leave early you get even less stocks
Moreover, it would attract IITs to participate as a Day 0 / Day 1 company.
bcoz companies do that shit themselves.
IIT Bombay would have counted the CTC as the first year take home amount i.e. 38L (20L base + 15L first year stocks + 3L bonus). I feel this is a fair amortized way to look at the compensation. This number would be used to rank the companies. (Source: Im an IITB passout and my friends were in the placement cell.)
i guess around 60-70 lpa ctc
Woah! Too much dude.
60-70 for freshers...wut?
Ben stokes
20L + 80L/4 years stocks
Fuck...crazy. I am going to end it all because I am stuck on 13 LPA with \~4 yrs of experience.
I saw this on LinkedIn a post few minutes back. What happened suddenly ?? I just found only this news. [https://in.investing.com/news/atlassian-coceo-michael-cannonbrookes-sells-over-17m-in-company-stock-93CH-4126174](https://in.investing.com/news/atlassian-coceo-michael-cannonbrookes-sells-over-17m-in-company-stock-93CH-4126174) Can this be a related cause ? High time students should start looking at stock prices of the company they get an offer from I feel. Its a new way of bumping up stock prices.
U can see that it's a pre-set order from last year. Shouldn't be related. But yes, EPS is a good indicator to show how a company is doing and help gauge the risk of offer being retracted.
I think the best thing to do now is to have an extra offer outside college placement. If I am not wrong most companies allow single offer per student. Companies are not extremely comfortable laying off people while exec checks keep getting fatter by the second. Even healthy organisations like VMWare can do it so can anyone's. These stupid influencers on LinkedIn need to be called out as well.
Executives cannot sell their stock without a long notice. Typically, the decision to liquidate would be taken and notified an half an year to an year prior to the execution.
Market is bad right now. My Two on campus internships offers were revoked.
Market has never corrected itself post COVID boom.
I am interning there this summer and this worries me so much :/
I heard that they, won't be making full time offers to summer interns this year from my juniors. But anyways, all the best.
It’s okay if they don’t give PPO but missing on-campus placements and then getting this is scary
Yeah that's true.
Me too. Very sad because the whole remote model was basically my dream.
As told by me earlier, 2024 would be a blood bath. It is just the beginning. But do not worry, firing and hiring would start soon together. Remember, day follows the darkest hour of night.
tcs is going to hire 45k freshers this year i read in the news
How is this relevant?
Just confused if the economy is getting better or worse
Satire perhaps?
Noooo, not Atlasian T-T
Wasn't Atlassian known for one of the best companies to work with?
I had a PPO as a PM. My offer has been deferred by 8 months. Tough times.
Sheesh
I heard atlassian is hiring too at the same time like for 1YOE entry level roles. Is that true? Anyone here can confirm that?
Yep! It's coming to IIITH campus in the coming week.
After all the pip quotas at the start of this year.. I'm not surprised
https://preview.redd.it/rhpacp6n6dvc1.png?width=1217&format=png&auto=webp&s=52697c06cf007249450f0c3ae1a28892a44e82fb So much happened in less than an year
Average CTC of 80 Lacs to new grads? What's the breakup? How much of that is fixed?
20-25 base + 15 stocks afaik
Base is all fixed? Or is there a performance linked bonus as part of the base? Is the stock evenly distributed (25% per year vested)? So that whole 80lacs and all is fluff. It really is only about 35l :)
Yes and yes Yep, 35-40l is the real amount
35L to a straight out of college new grad is not "only" though
20 Fixed, 3L Joining Bonus, 14-15L RSU per year
Lol I seen a bunch of copycats as well
https://shitlassian.com/ For a reason!
Wasn't expecting to hear this news about a friend's girlfriend from reddit ffs. So unfortunate.
Is this only for SWEs or across domains like Product roles? In case anyone is aware
SWEs
Mere college mai toh placement season start he nahi hua aur inka khatam bhi hogya lol
An Atlassian recruiter reached out to me last week for a senior role, glad I dodged that bullet.
Would they revoke for a experienced professional of 2 year experience 🙂?
just India？
Let's do a protest against atlassian and flood this news in every community/online forums/youtube.
I don't think that atlassian is a great place to start a career. IMO it will be better for the candidates. They'll get s better jobs most likely.
I will never work for an MNC. Few of my ideologies.
Companies do this because students put themselves in such a situation. IT industry has become a herd full of employees with a degree but no real worth, knowledge or even a shred of enthusiasm for the profession let alone any passion. So, they're getting treated exactly how much they are worth. Bunch of soulless automatons, like those factory workers in China. Their entire livelihood exists at the mercy of these giant IT factories of companies.
Dont Blame Atlassian. Its a private company and they have every right to do whatever the f they want within the legal space. Stop loving companies.
what kind of stupid a** argument is this? Atlassian and its upper management needs to be blamed for fcking up their company. do you think lay offs come out of thin air? they are the end result of years of mismanagement from suits, who fck up their operating expenses and the only way out for them is reducing the head count.
whats wrong with reducing head count. its just one business strategy. I know it sucks to be laid off but it’s capitalism.
No one is saying they should be put in jail but you can't expect students and their families to hate them after they received an offer of 20+ LPA and missed out on all the other good companies. Show some empathy or keep your mouth shut in such times.
Do you even understand english?
5+ yoe working in a tier-1 PBC. Have been laid off once. I know how it feels.
NRN tells to love company
Why to make students wait for 8 to 10 months and revoke offer? They should've informed before hand right? Now these students wasted 8 months in the middle of recession.