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Companies and start-ups, especially in the fields of tech and finance, are on a hiring spree in India. Unicorns (start-ups valued at over $1 billion) are expanding their talent pool by hiring new people with handsome salaries, a development that is making talent retention tough for early-stage start-ups.
The hiring spree is landing people in jobs with a substantial raise in salary. Unicorns are hiring software engineers and back-end and front-end developers with nearly twice their old salaries, according to a report in The Hindustan Times.
Fintech company BharatPe has unveiled the list of perks that it is offering to its new team hires. The list includes superbikes, high-end gadgets, and T20 World Cup tickets, in addition to a fat paycheck.
BharatPe to hire 100 people
New joinees at BharatPe will get to choose between an array of superbikes that include BMW G310R, Jawa Perak, KTM Duke 390, KTM RC 390 and Royal Enfield Himalayan. The list of gadgets includes Apple iPad Pro, Bose Headphones, Harman-Kardon Speakers, Samsung Galaxy Watch, etc. The fresh recruits will also be flown to Dubai for ICC Men’s T20 World Cup which is slated to be from October 17 to November 14.
The company aims to triple the strength of its technology team with this new round of hiring as the company is planning to launch a series of products that will cater to merchant as well as consumer lending. Currently, it has 60 people in its tech team.
Appraisals advanced
New hiring is not the only thing that the company is looking at right now. It is also taking steps to enhance its existing talent pool. The appraisals of the tech team have been advanced by 8 months with the team earning close to a 75% increase in pay, divided between a hike in CTC and enhanced ESOPS. All measures have been put into effect starting July 1. So far, the company has raised around $300 million in equity and debt, from investors like Sequoia Capital, Coatue Management, Ribbit Capital, Beenext and Steadview Capital.