Understanding the Bond Policy at FIITJEE: A Comprehensive Guide
FIITJEE, a well-known educational institution, often requires new faculty members to sign a bond upon joining. This article aims to provide a detailed understanding of the bond policy, its period, and amount.
The Role of Bonds in Education Institutions
The practice of requiring a bond from new faculty members at FIITJEE is a common one in many educational institutions. These bonds serve to ensure the retention and commitment of the faculty members. By signing a bond, faculty members commit to a certain period of service in exchange for the employment offer from FIITJEE.
FIITJEE's Bond Period and Amount
As of the latest updates, FIITJEE typically requires a bond period of 2 years. However, this period can vary based on the position, location, and the specific hiring policies in place at the time of employment. The bond amount can range from 1 lakh to 2 lakhs or more, depending on the role and market conditions. It is essential for prospective candidates to verify these details directly with FIITJEE or refer to their official recruitment guidelines for the most accurate and current information.
A Closer Look at FIITJEE's Bond Policies
While the bond period and amount for FIITJEE are generally understood, the institution's strict bond enforcement has generated some controversy. Faculty members who leave without serving the notice period can face significant legal action, including court appearances in Delhi's Tishazari Court.
According to various reports, FIITJEE requires 3 blank cheques with a sign at the time of joining as a symbol of the financial commitment. Those who leave before the notice period can be held responsible for the financial losses incurred by the institution. The financial losses can range from Rs. 12 lakhs to 1 crore, depending on the faculty member's salary structure. It is reported that 90% of the faculty who leave FIITJEE end up with legal cases against them, often due to the undigestible rules and regulations.
FIITJEE's notice period is six months, and the resignation period is typically in November, with the last working date being May 31. During this period, no other job is available, which adds to the pressure. The famous dialogue "KI TARIKH PAR TARIKH," spoken by actor Sunny Deol, aptly illustrates the stress involved in dealing with such legal proceedings.
FIITJEE's Hiring Practices and Salary Structure
FIITJEE often hires faculty in every two months, offering a starting package of 8 to 9 lakhs. However, the actual take-home pay for new faculty is only around 35 to 40 thousand rupees each month. This is a stark contrast to the starting offer, and the salary remains largely unchanged for the next 3 years. The system of increment through appraisal is also not as straightforward as it seems. Appraisals occur every 2 to 2.5 years, and the salary increase is often influenced by a lobby system rather than merit. This has led to frustration among many faculty members.
Prospective candidates should be aware of these factors before joining FIITJEE. While the institution offers attractive starting salaries, the actual financial benefits may not be as substantial as initially advertised. It is crucial to carefully consider the balance between the job's responsibilities, financial stability, and personal career goals.
Conclusion
FIITJEE's bond policy and salary structure highlight the importance of thorough research and preparation before joining any educational institution. Prospective faculty members should verify all information and understand the terms and conditions before accepting an offer. Understanding the institution's bond period, bond amount, and overall hiring practices can help in making informed decisions and managing expectations effectively.