Hello Experts,
I am seeking help in determining a salary raise. I currently have over 4 years of experience in HR and am drawing a salary of 4.5 L (4 L fixed and 50 L as Variable). I am due for a raise in 3 months with approximately a 20% increase on my fixed income, and my revised CTC would be 4.8 L Fixed + 60k Variable, totaling 5.20 Lacs.
I need to know if I can currently quote 5.20 L or what the general trend is regarding the raise that would be provided if I am currently getting an offer. Since I would otherwise lose out on a 30% increase that my current company will provide me within 3 months, would it be practical to quote the total expected raise or the current CTC? It would not make much sense if I leave my job for a 30% hike on 4.50 Lacs.
I appreciate expert views on this and it would be a great help for me to understand the market scenario.
Thanks in advance.
From India, Mumbai
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I am seeking help in determining a salary raise. I currently have over 4 years of experience in HR and am drawing a salary of 4.5 L (4 L fixed and 50 L as Variable). I am due for a raise in 3 months with approximately a 20% increase on my fixed income, and my revised CTC would be 4.8 L Fixed + 60k Variable, totaling 5.20 Lacs.
I need to know if I can currently quote 5.20 L or what the general trend is regarding the raise that would be provided if I am currently getting an offer. Since I would otherwise lose out on a 30% increase that my current company will provide me within 3 months, would it be practical to quote the total expected raise or the current CTC? It would not make much sense if I leave my job for a 30% hike on 4.50 Lacs.
I appreciate expert views on this and it would be a great help for me to understand the market scenario.
Thanks in advance.
From India, Mumbai
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Well, I think if you are looking for a change, you should consider waiting for three months before seeking a new opportunity, especially after receiving an appraisal. This approach can potentially lead to a higher salary increase. It's important to note that some companies do not differentiate between fixed and variable salaries, viewing variable salaries as simply incentives.
I hope I have correctly understood your point and that my response has been helpful.
From India, Pune
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70I hope I have correctly understood your point and that my response has been helpful.
From India, Pune
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Dear Askexperts,
My advice to you is to ask for a small hike over your expected salary. I have done this in my career, and fortunately for me, I got the package that I wanted. Not every company will agree to giving a hike on your 'expected salary', so you need to be diplomatic in asking for this.
Keep in mind that there are other factors also influencing their decision, such as other candidates whom they may have shortlisted, the salary scale in the company at that level, the company's willingness to pay (remember these are tough times, purse strings are tight), etc.
Tell them that you are very much interested in the role and would love to work with them; however, you do not want to accept a package which you may later feel disappointed about. Don't make a demand for a higher package; ask if it would be possible, see their reaction, and then decide whether you want to push for it or not. Don't expect an on-the-spot confirmation; politely ask them when you should expect their reply.
Hope this helps.
Regards,
Ritesh Shah
From India, Pune
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My advice to you is to ask for a small hike over your expected salary. I have done this in my career, and fortunately for me, I got the package that I wanted. Not every company will agree to giving a hike on your 'expected salary', so you need to be diplomatic in asking for this.
Keep in mind that there are other factors also influencing their decision, such as other candidates whom they may have shortlisted, the salary scale in the company at that level, the company's willingness to pay (remember these are tough times, purse strings are tight), etc.
Tell them that you are very much interested in the role and would love to work with them; however, you do not want to accept a package which you may later feel disappointed about. Don't make a demand for a higher package; ask if it would be possible, see their reaction, and then decide whether you want to push for it or not. Don't expect an on-the-spot confirmation; politely ask them when you should expect their reply.
Hope this helps.
Regards,
Ritesh Shah
From India, Pune
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Hi,
According to me, you should ask for a higher salary increase as you are already due for a raise in your current company. However, there may be a possibility that your future employer has a strict budget and cannot increase the cost to company (CTC). In that case, you would have to decide whether you want the new desired role or prefer to stay in your current organization to receive the raise and then consider a change.
Just a heads up, if you receive a 20% raise from your current company and are aiming for a 30-40% increase over the appraised salary, it might be challenging unless the company is willing to hire you under all conditions. Sometimes, employers reject candidates due to extensive salary negotiations on the candidate's end.
I hope you find this information helpful in making your decision.
Regards,
Shruti Wadhwa
From India, New Delhi
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According to me, you should ask for a higher salary increase as you are already due for a raise in your current company. However, there may be a possibility that your future employer has a strict budget and cannot increase the cost to company (CTC). In that case, you would have to decide whether you want the new desired role or prefer to stay in your current organization to receive the raise and then consider a change.
Just a heads up, if you receive a 20% raise from your current company and are aiming for a 30-40% increase over the appraised salary, it might be challenging unless the company is willing to hire you under all conditions. Sometimes, employers reject candidates due to extensive salary negotiations on the candidate's end.
I hope you find this information helpful in making your decision.
Regards,
Shruti Wadhwa
From India, New Delhi
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Dear Askexpert,
I believe that it purely depends on the variable amount which you receive apart from your regular CTC. For example, if I am receiving an additional amount of 65,000 which is separate from my regular CTC, even though it is labeled as variable, I am 100% certain that I will receive it without any deviation. This certainty comes from the fact that I am not involved in sales or marketing, and my company has structured it in such a way. In this scenario, you can include your variable amount in your current CTC. Dear seniors, please correct me if I am mistaken.
Thank you.
From India, Tiruchchirappalli
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I believe that it purely depends on the variable amount which you receive apart from your regular CTC. For example, if I am receiving an additional amount of 65,000 which is separate from my regular CTC, even though it is labeled as variable, I am 100% certain that I will receive it without any deviation. This certainty comes from the fact that I am not involved in sales or marketing, and my company has structured it in such a way. In this scenario, you can include your variable amount in your current CTC. Dear seniors, please correct me if I am mistaken.
Thank you.
From India, Tiruchchirappalli
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