Cost to Company (CTC) Meaning for Net Salary
What does cost to company (CTC) mean?
The abbreviation CTC is often seen next to the stated salary package (remuneration) for the job opening being advertised. It stands for cost-to-company and simply means that this is the total amount that an employer is prepared to pay for the employee and includes all benefits. Those that are new to the job market can find this quite misleading and be surprised to find that their net salary is significantly less than the initial remuneration advertised. However, it is a way of the employer stating that this is the only amount available in the budget for the employee and all associated benefits. Some deductions are mandatory while others are optional and many companies are flexible with the way the final package is structured provided that it does not exceed the CTC amount stated at the outset.
In-House Company Training, Types of Courses and Benefits
In-house training is an exciting prospect for some employees who look forward to expanding their knowledge about the industry. For others it is a somewhat agonising way to wile away a few days listening to boring lectures and sometimes wasting an entire weekend. Training often means moving forward in one’s career, whether with your current employer or another. It ultimately works in the benefit of the employee, just as much as it does to the employer. If you are more knowledgeable, you are also more competent to undertake additional tasks and therefore stand a better chance of a promotion. More importantly, it helps to reduce the amount of additional skills that your employer may recruit from outside the company thereby jeopardising your position in the future. There are two types of in-house company training which can be broadly categorised as accredited and unaccredited.
Credit Checks and Financial History for Job Interviews
The debate over whether a job candidate’s credit history should influence an employer’s decision will probably go on for years to come. Some may argue that it is unfair and others will claim that it is an invasion of privacy. But like it or not, it is a tool which more employers will consider using in order to judge an applicant’s honesty, credibility and even reliability.