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How to get max hike ?

 
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I heard from other persons in my company that market in india is very strong in terms of the compensation being offered these days.

one can get around 45-50% hike on his present CTC, but when i went job searching nobody is offering me beyound 35% hike .. Is market really so good or am i not a good negotiator. Any input how one can bargain more or how one can market himself and influence the HR person.

Any inputs ??

Thanks
Shalu
[ May 25, 2007: Message edited by: shalu sharma ]
 
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Originally posted by shalu sharma:


Any input how one can bargain more or how one can market himself and influence the HR person.

........................
[ May 25, 2007: Message edited by: shalu sharma ]



You serious about that..... :roll:

PS: I take interviews, regularly, and a person who is much more concerned about his package than his job profile is considered a risk and I normally reject such cases without second thoughts.

A very serious suggestion to you, improve your skills, get into a job where you have a growth in knowledge, the market is good now does not mean it will be that way always. The first people who get removed from firms in a downturn are people being payed more than the amount of revenue they bring in.
 
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Absolutely agree with Devesh.
Concentrate on your skills , in long run that will be beneficial.
 
shalu sharma
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Devesh,

I too agree with you that one should get into a job where there is a growth in knowledge.

Well could you tell me what is the the package that a person with 7 yrs of java exp should expect in bangalore and pune considering that she would be relocating from gurgaon ?
 
Rahul Bhattacharjee
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It again depends from company to company.But you should ask for atleast 30% hike.

Average salary for 7 years of experience in bangalore should be around 10-12 lpa.
 
Devesh H Rao
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Originally posted by shalu sharma:
Devesh,

I too agree with you that one should get into a job where there is a growth in knowledge.

Well could you tell me what is the the package that a person with 7 yrs of java exp should expect in bangalore and pune considering that she would be relocating from gurgaon ?



Bangalore is a costly city so the remunaration should be more as compared to pune me thinks, me work in mumbai which is the worst off in terms of IT and have always worked in mumbai so I cannot possibly tell you what is it that you should be looking for..

Best of luc with your job change.. do good
 
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PS: I take interviews, regularly, and a person who is much more concerned about his package than his job profile is considered a risk and I normally reject such cases without second thoughts.



Hi Devesh, Shalu had not asked about your job role.( I suspect you work in HR area. ) she wants to know how to negotiate a better offer..

A very serious suggestion to you, improve your skills, get into a job where you have a growth in knowledge, the market is good now does not mean it will be that way always. The first people who get removed from firms in a downturn are people being payed more than the amount of revenue they bring in.



Nobody can predict the market. anybody with a common sense understands this..But
make hay while the sun shines ..

Regarding the bargain my suggestion (tried and tested) is
1 Get more than one offer and you have the upper hand in negotiation.
2 Dont show you are desperate to switch to new job( to your new employer)
3 Any other rules that are applicable to common negotiation


Hope this helps
 
Rahul Bhattacharjee
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Originally posted by srishal singh:

Get more than one offer and you have the upper hand in negotiation.



Bad practice.

In my opinion if you get what you want then no point trying further.Then try settling down.



 
srishal singh
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Bad practice.

In my opinion if you get what you want then no point trying further.Then try settling down.




Imagine if someone is willing to offer you more than an existing offer..
are you not going to consider??

Companies also use the same principle (in a different way) for their vendors. They generate a bidding situation and give their contract to lowest bidder..

So what is the harm in letting them pay extra bucks to get your talent??
 
Rahul Bhattacharjee
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Originally posted by srishal singh:
So what is the harm in letting them pay extra bucks to get your talent??



Once you get what you want exactly , its better to stop looking further.Extra bucks is always good.

It creates a lot of trouble from the other end , employer ; when the said candidate doesnot join on time.

It all depends from person to person.Anyways , no denying that its a common practice.
 
Devesh H Rao
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Originally posted by srishal singh:

Hi Devesh, Shalu had not asked about your job role.( I suspect you work in HR area. ) she wants to know how to negotiate a better offer..




Please do not assume what area I work in, you may be surprised ...

And my answer was for her question that if she wanted a good deal, she has to be good and the easiest way of doing that is being good and not showing good.



Originally posted by srishal singh:


Nobody can predict the market. anybody with a common sense understands this..But
make hay while the sun shines ..

Regarding the bargain my suggestion (tried and tested) is
1 Get more than one offer and you have the upper hand in negotiation.
2 Dont show you are desperate to switch to new job( to your new employer)
3 Any other rules that are applicable to common negotiation


Hope this helps



Nice... I like the above attitude very much... it really helps me when I am taking lots of interviews in a day... Next please...


No offence meant, but it really works that way as far as I am concerned. I do not talk for the industry.
An opinion was asked, An honest suggestion given regarding concentrating on being good, the moolah follows.
[ May 28, 2007: Message edited by: Devesh H Rao ]
 
shalu sharma
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Originally posted by Devesh H Rao:


PS: I take interviews, regularly, and a person who is much more concerned about his package than his job profile is considered a risk and I normally reject such cases without second thoughts.

A very serious suggestion to you, improve your skills, get into a job where you have a growth in knowledge, the market is good now does not mean it will be that way always. The first people who get removed from firms in a downturn are people being payed more than the amount of revenue they bring in.




Devesh,

As pointed by Rahul the avg sal for bangalore is around 12 now when I say that I am looking for 45-50% hike, I would like to mention that even after 45% hike my sal would come to be 12 lpa.

Now tell me if companies are not willing to pay the standard salary to a person with 7 yrs of exp in a particular region so what's wrong in trying to look for ways so as to get that region's standard salary. And you know what I think of HR's as ppl whose sole aim is to get the quality persons at the lowest cost in most of the companies.


Originally posted by srishal singh :

3 Any other rules that are applicable to common negotiation



srishal,

would you like to explain this point a bit more in detail..
 
Rahul Bhattacharjee
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Shalu: As pointed by Rahul the avg sal for bangalore is around 12 now when I say that I am looking for 45-50% hike, I would like to mention that even after 45% hike my sal would come to be 12 lpa.



Forgot to mention.For Java , J2EE professional.
 
srishal singh
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Rahul: I never said one should not inform the other companies about the decision to join any company.. That is unprofessional


Please do not assume what area I work in, you may be surprised ...

And my answer was for her question that if she wanted a good deal, she has to be good and the easiest way of doing that is being good and not showing good.



Dont take this too personally. I dont care about whatever you do...
Or should I say the same thing myself

No offence meant..
Shalu was asking about the good offer. I have seen lot of good people working for peanuts. Some people do not like openly asking for right money.


Nice... I like the above attitude very much... it really helps me when I am taking lots of interviews in a day... Next please...


No offence meant, but it really works that way as far as I am concerned. I do not talk for the industry.
An opinion was asked, An honest suggestion given regarding concentrating on being good, the moolah follows.




I wonder asking for right money a bad attitude for you??
Meanwhile I can see a lot of attitude(arrogance) in what you have written..



Mind is like a parachute it works only when it is open.
 
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Hi Shalu!
market is really good, so if you are relocating, you should make the most use of it!
About Skills : you should always be skillful, by know means an employer would like to have an employee who takes 1 LPA less, but don't do much work! I think i am answering the correct point - no offenses meant.

if you are moving from Gurgaon to Pune/Bangalore, you are eligible for a good hike.

The double ratio is always good :
CTC = 2 X (years of experience)
{exact double is tough sometime, so even a factor of 1.8 - 1.9 is good}

this is the best formula i came across (i invented ), it really works !
(definitely not, if you talk about Google/RBS or other biggies, who pay 6-9 LPA to freshers)

So for 7 years of java/j2ee, if you are relocating, you should try to get 11-13 LPA.

Bon Voyage
 
Devesh H Rao
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Originally posted by srishal singh:
Rahul: I never said one should not inform the other companies about the decision to join any company.. That is unprofessional





I wonder asking for right money a bad attitude for you??
Meanwhile I can see a lot of attitude(arrogance) in what you have written..



Mind is like a parachute it works only when it is open.



Asking for right money is not bad attitude in fact it is a must. But when we think of streching that part it hurts both ways.

I was thinking not to actually put any more effort into this thread but I guess I would like to clear something from my end before I call it quits.

Every person knows his/her worth say for example person A is working for X amount in a company, now he/she thinks she is being underpaid or for some reason has to switch. Now for switching he/she has to look out for the following things in the new job.

1. Net money in hand (Not the CTC), always go for a company which gets the most net in hand and are more open in disclosing the CTC break up as most of them just show xyz allowance as part of CTC which may not always be paid in full.

2. A Person has invested a certain time in a company so when the person leaves it he leaves behind not just the job but also the contacts and professional relationships he/she may have built(sometimes personal relationships are also built but that is another matter altogether ) so the job switch has to be comfortable as what happens is as a person used to a certai culture may not absolutely like what is the new companies culture and that actually frustrates the person no end.

3. Skill set is a very important criteria, in the interview itself get it clear about the expectations set of you so that in the new job the surprises are minimal, if possible ask to meet the new manager, most of the people can gauge the new settings to a certain extent.

4. Check when will you be eligible for the next appraisal cycle in the new company as well as the increments in that company for that year for example if a company had an average increment of around 25% a 40% hike may not be a big deal for them if you happen to be good. similarly if the next appraisal applicable for you is the immediate next cycle then it is ok else you may not be eligible for the next cycle and that infact negates the whole hike and it may frustrate you to start searching for another job even if you have settled in quite nicely.


5. There are lots of good companies out there where the work is extremely fulfilling, they sometimes pay market average but then such companies are nice to work for. while some companies may give very high hikes but then you lose your edge working for them as most of the work is run of the mill.


And I have no issues with getting or quoting the right price, if a person is talented he/she should get what he or she deserves but I am against marketing ourselves or influencing people...

When you get onto a job if and when you give your best the company more often than not takes care of you, belive me they do. Its in the companies best interest to hold onto their best resources.
[ May 28, 2007: Message edited by: Devesh H Rao ]
 
Devesh H Rao
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Originally posted by shalu sharma:


And you know what I think of HR's as ppl whose sole aim is to get the quality persons at the lowest cost in most of the companies.....



Hi Shalu,

I do not contest the feeling of yours to get what you deserve, if you think you deserve 12 lakh ctc you should probably tell that upfront to the HR and say you deserve that and not coz that is the industry average.

And play the negotiation fair. Set the expectation and ask them to get back to you if they interested. They will if they need you.

Again...wish you best of luc with you job search... do good


 
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Money drives you.

They are four things important and balance if you want to be happy. Peaceful mind, Healthy body, Good relationships and MONEY.

Ask your friends and someone for your position and know what salary you should expect. Don't fall for the packages falling below that. A company always try to recruit employees having maximum skill, if you are skilled they won't spend spending on you. Also, at the same time they also consider to spend as less as possible so you see why negotiation happens.

Best Wishes!
 
Rahul Bhattacharjee
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Originally posted by Atul Sawant:
Ask your friends and someone for your position and know what salary you should expect. Don't fall for the packages falling below that. A company always try to recruit employees having maximum skill, if you are skilled they won't spend spending on you.


Very true.Some companies I have seen that they are not interested to retain good people , they look for people just fitting the requirement as they have to offer less amount to them.
 
Atul Sawant
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Thats not completely true. I think freshed are exploited that way however some companies really pay well and go beyond expectations. Like one of the guy who was Asst. Manager here should be having salary around 5-6 lakhs per annum but got placed in another company giving package 12 lakhs per annum. Could you believe this?

Employees with lot of experience are like hot cakes no wonder they are given such a handsome packages.

My manager once said "A company always try to retrieve as much as possible from an employee and spending as less as possible". That was when i joined in as a junior programmer. Now things have changed. I exploit them with my demands!

MUHAHAHAHA!
 
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