An IPO Dream Funded by Frozen Salaries and Zero Appraisals
Pros
You'll learn how corporate buzzwords like ownership, transparency, and people-first culture can mean something entirely different in practice. Great place to build patience—an appraisal cycle that runs from April to March can apparently be concluded whenever management feels like it. (Apparently, in June last week, delayed twice after two emails from the HR head and one Townhall by Mr.CEO) If you enjoy uncertainty and surprises, you'll love waiting months to find out that your increment is 0%. NO PROMOTIONS! Be there for years!
Cons
Appraisals were delayed until the end of June with little transparency, only to result in zero increments for most of the employees and some nonsensical ESOPs that are worth nothing in the future! The unofficial strategy seems to be: "Let's become profitable by not giving appraisals, increments, or promotions and ask everyone to wait for the IPO." Deserving employees and high performers are not adequately rewarded or promoted. Leadership appears more focused on cost optimization than employee retention and morale. Excessive micro-management from some senior PM(s) and Engineering Director(s) has created a low-trust environment. I don't know how these senseless people become engineering pillars in product-based companies, Ohh! Sorry, this company is being marketed as PBC but actually, it is service-based in a true sense, as for every client you need to do some JUGAAD, of course! as these are being promoted by PM and the Engineering Director, not from developers! Engineers spend more time on status updates, approvals, and firefighting than solving meaningful technical problems. Frequent priority changes, unrealistic timelines, and constant context switching lead to burnout and unnecessary rework. Technical debt and engineering excellence often take a backseat to short-term delivery pressures. Career growth and compensation decisions lack transparency and consistency. The company has many talented people, but poor leadership decisions and micro-management are gradually making the work environment worse and more toxic.
