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What is the best way to negotiate salary package with HR?

The most difficult task is negotiating the salary package with any companies HR as I have come across. I have got a work experience of 6 years in BPO F&A industry and 3 years in insurance industry where I started my career. Its quite obvious that once you start your career you can't expect a good handsome package. Now after staying in my 1st company (BPO) for 41/2 years your package doesn't increase compare to what you expect while shifting companies. Now when you join a new company they offer as per your current CTC...I need to know at what parameters does HR judge a candidates salary package? Does they check the candidates domain knowledge and experience in the required field? Can you please help me on this?

Gauravhamirbasia, posted on November 13, 2012 at 11:47 am    Salary negotiation


Nishta Gupta said November 14, 2012 at 05:10 pm

Dear Gauravhamirbasia,

The benchmark for negotiating salary is usually your current CTC. While that is the norm in the industry, this should not stop you from getting a 100% hike if you believe you are worth it. The percentage hike would be based on your current salary only.

HR is not responsible for checking out domain knowledge but the hiring manager is. The HR department only helps shortlists the right candidates and it is up to the hiring manager to review the candidature of each of the prospects. So, you should be selling your skills to the person who interviews you for the job.

Some dos and donts for salary negotiation are:
1. Dont be too desperate: Remember HR can sense your willingness to accept the offer much before you make that final confirmation. If you sound too desperate, you have lost the battle already. At the same time, you should not send out signals that you aren't interested in the job as well.
2. Dont be fearful: Be confident about the salary you seek from your new employer.
3. Do your homework: You should know the salary that your peers are getting for a similar job. Seek information from existing employees of the company. Use this data to negotiate your salary.
4. Do have a back-up plan: If one plan does not work, make sure you are prepared for a Plan B.

I hope this helps. Happy fixing!




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