The first and foremost thing to understand is that there are two types of domains companies work in :
- Product based – These are the companies that have their own products to sell. Examples are Google, Alphabet, Facebook, Adobe, etc.
- Service based – These companies may or may not have their products, but their primary business is service. They work for other organizations or we can say they are clients of Product Based companies. Examples are Infosys, Wipro, TCS, Cognizant, etc.
Do Product based companies pay better?
In most of the cases “Yes”
Understanding why?
Product based
These companies have popular products, more popularity means more revenue and “almost” flawless products. To develop these, it requires best engineers.
Now, every company wants best engineers to develop these products which always provide unique customer experience. High demand of those elite developers and less supply, obviously cost will be high. That is why, they are willing to pay huge amount of salary to hire these developers.
Now, other part of the coin. There are many product based companies, which are not popular as these giants. They have limited budget, least popular products obviously lead to many flaws within them. Architectural flaw, bad coding and no marketing exposure lead to a failure. Salary obviously will be less.
Service based
These companies work on products, projects and product maintenance, which means coding is done, now they are billing their clients for their maintenance.
Maintenance includes enhancement, handling real time issues (troubleshoot) and running their services (including new patches).
If you are a fresher ,you will rarely get development projects, and even if you get you are not going to develop anything from scratch.
For Indian IT service based companies, pay scale is too low because demand is less and supply is high. Therefore, salary is less.
But again exception cases are always there, if you are working in rare technology then certainly those particular skills are difficult to find in the market. They will retain you after giving high salary.
The FAANG syndrome…
Heading towards a reputed company is a good idea but the question lies is FAANG or other ubiquitous companies really worth it ???
Essentially the problem with this is that people are unaware of other companies which offer the same package or even better for the same profile…
Top Product based companies
Large Tech Giants –
Fast growing startups
If you believe in embarking your career by joining the best possible company you can, then you are definitely up to a good start but knowing the ground reality of “xyz” company as well as digging around other not-so-good companies/startups should also be a must start for you so that it doesn’t lead to a heartbreak later..
Know 