From an Ex Central Banker
I thought sharing my opinion on the recent salary hike of the CBSL. Usually, I don't discuss matters in social media, but I've seen some untrue comments in a related thread. So, here's my two cents.
Is the salary hike justifiable? No & Yes. There are some really talented people in CBSL who's getting paid less than they deserve and far below the industry average. So for them, it's a YES. Unfortunately, for the majority of the staff with their "Kanthoru" attitude do not deserve it. Will be explained next.
Talent profile in CBSL: For an organization with so much power, their human resourcing practices are shite. CBSL follows a decade old examination-based practice to recruit staff (Not office assistants). So number of people with zero soft-skills, people with zero economics and banking knowledge get hired. Theoretically, they have talent. But not in Economics! For example, out of 100 persons recruited, there may be 5-10 Economics graduates and 30-40 Physical science (and whatnots) graduates. Another laughable example is CBSL recruits "Assistant Directors" to be Software Engineers.
Why now? Well, people are leaving. Of course, as you may have guessed, the most talented people are leaving for better pay and better jobs. There were some 50 resignations in the last two years (LOL, including me -- with no talent at all) Hence, the untimely salary hike.
To put matters into perspectives. An engineering graduate from UOM will most likely leave CBSL if they don't get paid above 500K. OOH, a graduate with a MA in geography will happily accept this salary to be in this completely unrelated job. We don't have negotiated salaries in gov organizations, so it's messed up.
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