It went on to say that junior employees were led astray to think that they were “underpaid,” while receiving a CTC of Rs 34 lakh annually.
The Securities and Exchange Board of India (SEBI) has expressed its belief that the current controversy surrounding the employees’ complaints on the purportedly toxic work culture at the regulatory body is “misguided” and may have been sparked by “external elements”.
It is our opinion that SEBI’s younger officers, who were first quite angry over HRA allowances, were led astray, maybe by outside forces… to think that, despite having proven they are entirely capable of providing high standards to the market ecosystem, they should not be held to strict performance and accountability standards because they are “employees of a Regulator,” according to a press release released by SEBI on September 4.
It went on to say that the junior employees were misled into thinking that “they should get automatic promotions” and that “even at a CTC of Rs 34 lakh per annum, they are being “underpaid,” and that it would be in their best interest to use issues of work culture to bargain for monetary benefits.”
“SEBI officers are already highly compensated; for entry-level officers at Grade A, the annual cost to the company is about Rs 34 lakhs, which is extremely competitive even when compared to the corporate sector.” According to the SEBI announcement, “their new demands would amount to an additional CTC of nearly Rs 6 Lakhs per annum.”
