Need help about Quoting CURRENT CTC
Hi friends,
I recently completed my PGDHRM from Symbiosis through distance learning in 2007. I am looking for a good opportunity in HR and have two years of experience. The problem is that while applying for jobs in other cities, I need a minimum CTC of 120,000 at the least, and I want to quote about 150,000 to 180,000 as my expected CTC. However, employers usually say that they calculate CTC based on my current CTC, which is 66,000 + PF, may come up to 74,000 approximately. They sometimes hesitate, stating that your current CTC is this much and you are demanding double, more than that. How to deal with this situation? I want the employer to judge me based on qualifications and experience and not on my current CTC. In my current job, it's a different situation. Hence, how do I convince them that I am worth the CTC which I demand? Also, since I need to shift to another city, it would require me a substantial increase rather than what I am drawing today.
ALL SENIOR MEMBERS PLEASE ADVISE.
Ravi
From India, Pune
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57Hi friends,
I recently completed my PGDHRM from Symbiosis through distance learning in 2007. I am looking for a good opportunity in HR and have two years of experience. The problem is that while applying for jobs in other cities, I need a minimum CTC of 120,000 at the least, and I want to quote about 150,000 to 180,000 as my expected CTC. However, employers usually say that they calculate CTC based on my current CTC, which is 66,000 + PF, may come up to 74,000 approximately. They sometimes hesitate, stating that your current CTC is this much and you are demanding double, more than that. How to deal with this situation? I want the employer to judge me based on qualifications and experience and not on my current CTC. In my current job, it's a different situation. Hence, how do I convince them that I am worth the CTC which I demand? Also, since I need to shift to another city, it would require me a substantial increase rather than what I am drawing today.
ALL SENIOR MEMBERS PLEASE ADVISE.
Ravi
From India, Pune
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Hi Ravi,
I believe that companies do not bother to offer a CTC double or triple than what you are earning now, but they do care about how much you can justify the job for which they are selecting you. If you are able to give optimum justification for the positions you are seeking, companies will definitely offer you a good CTC regardless of your current earnings. This clearly conveys that you need to improve your skills in order to secure a good CTC.
Regards,
Srihari Rao
From India, Delhi
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I believe that companies do not bother to offer a CTC double or triple than what you are earning now, but they do care about how much you can justify the job for which they are selecting you. If you are able to give optimum justification for the positions you are seeking, companies will definitely offer you a good CTC regardless of your current earnings. This clearly conveys that you need to improve your skills in order to secure a good CTC.
Regards,
Srihari Rao
From India, Delhi
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Hi Ravi,
It's a general trend that up to a 40% hike is given when switching jobs, but of course, nothing is hard and fast. It all depends on your ability to negotiate and sell yourself in the job market. You have to describe your qualities to clinch a better salary deal. Your current CTC is what it is, considering yourself as a Non-MBA. Now that you are an MBA, you need to highlight that previously, you were a non-MBA, and thus, you were earning less. As an MBA with a certain number of years of experience, you deserve a higher salary than a fresh MBA would typically be offered. It takes time and resources to train a fresh MBA, whereas you are already trained and can be put to work immediately upon joining. Your training would not require additional time and money, making you a more attractive candidate compared to a fresh MBA.
So go ahead, express your views confidently.
Best of Luck!
Amit Goyal
From India, Delhi
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It's a general trend that up to a 40% hike is given when switching jobs, but of course, nothing is hard and fast. It all depends on your ability to negotiate and sell yourself in the job market. You have to describe your qualities to clinch a better salary deal. Your current CTC is what it is, considering yourself as a Non-MBA. Now that you are an MBA, you need to highlight that previously, you were a non-MBA, and thus, you were earning less. As an MBA with a certain number of years of experience, you deserve a higher salary than a fresh MBA would typically be offered. It takes time and resources to train a fresh MBA, whereas you are already trained and can be put to work immediately upon joining. Your training would not require additional time and money, making you a more attractive candidate compared to a fresh MBA.
So go ahead, express your views confidently.
Best of Luck!
Amit Goyal
From India, Delhi
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Hi Ravi,
Don't lose hope. It all depends on the company that you're applying for and also the field in which you have experience. I am not aware of the other fields, but in IT, it's no big deal to provide double the current CTC. All you need to do is be firm in your decision before moving to the company. Negotiate until you're satisfied, and never compromise on your salary.
Since you have 2 years of experience, you need not worry. These days, even freshers without an MBA also get more than 1.2 LPA. So all the best for your future.
Regards,
Roopa
From India, Bangalore
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Don't lose hope. It all depends on the company that you're applying for and also the field in which you have experience. I am not aware of the other fields, but in IT, it's no big deal to provide double the current CTC. All you need to do is be firm in your decision before moving to the company. Negotiate until you're satisfied, and never compromise on your salary.
Since you have 2 years of experience, you need not worry. These days, even freshers without an MBA also get more than 1.2 LPA. So all the best for your future.
Regards,
Roopa
From India, Bangalore
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Roopab... 1.2 LPA. You mean 1.2 lac per annum?.Is it not too less?.Or there is something I dont know!..Pl enlighten me. We learn evryday and I am a learner for life!... . Shreyas
From India, Mumbai
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From India, Mumbai
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Dear Ravi,
As said by others, all are very true. The only thing you have to keep is high morale, positive aspects, and be confident always. Definitely, you will get the success.
Moreover, you may convince the interviewer that you joined your 1st assignment because at that time you were in a learning stage and did not hold an MBA degree. But now, you have experience along with an MBA degree. It's a plus point for you.
Wish you all the best.
Regards,
Amit Seth.
From India, Ahmadabad
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As said by others, all are very true. The only thing you have to keep is high morale, positive aspects, and be confident always. Definitely, you will get the success.
Moreover, you may convince the interviewer that you joined your 1st assignment because at that time you were in a learning stage and did not hold an MBA degree. But now, you have experience along with an MBA degree. It's a plus point for you.
Wish you all the best.
Regards,
Amit Seth.
From India, Ahmadabad
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Shreyas,
That's exactly what Ravi is feeling about his salary - that what he's getting is very less. And yes, for your information, the consultancies provide around 6,000-7,000 per month to the recruiters "freshers," which is much, much less than 1.2 LPA.
Regards,
Roopa
Roopa,
1.2 LPA. You mean 1.2 lakh per annum? Is it not too little? Or is there something I don't know? Please enlighten me. We learn every day, and I am a lifelong learner!
Shreyas
From India, Bangalore
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That's exactly what Ravi is feeling about his salary - that what he's getting is very less. And yes, for your information, the consultancies provide around 6,000-7,000 per month to the recruiters "freshers," which is much, much less than 1.2 LPA.
Regards,
Roopa
Roopa,
1.2 LPA. You mean 1.2 lakh per annum? Is it not too little? Or is there something I don't know? Please enlighten me. We learn every day, and I am a lifelong learner!
Shreyas
From India, Bangalore
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Hi friends,
I have a gross per month salary breakdown as follows: Basic=7510, DA=2854, conveyance allowance=650, other allowances=2183, incentive=2850 (not fixed). I contribute to PF (basic+DA+incentive)*12%, approximately 1500. Additionally, I receive a yearly ex-gratia of 20000, LTA=7200, and around 52 leave encashable. The company also provides me with a 2-bedroom/kitchen/latrine-bathroom flat, full hospital facilities (for self+spouse+parents+child), accidental insurance, as well as a yearly gift averaging Rs. 5000 and 3pc clothing set/safety shoe/4 set soap, etc.
I find it challenging to calculate my CTC. Please help me understand how to calculate this. Thank you.
From India, Baleshwar
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I have a gross per month salary breakdown as follows: Basic=7510, DA=2854, conveyance allowance=650, other allowances=2183, incentive=2850 (not fixed). I contribute to PF (basic+DA+incentive)*12%, approximately 1500. Additionally, I receive a yearly ex-gratia of 20000, LTA=7200, and around 52 leave encashable. The company also provides me with a 2-bedroom/kitchen/latrine-bathroom flat, full hospital facilities (for self+spouse+parents+child), accidental insurance, as well as a yearly gift averaging Rs. 5000 and 3pc clothing set/safety shoe/4 set soap, etc.
I find it challenging to calculate my CTC. Please help me understand how to calculate this. Thank you.
From India, Baleshwar
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Ravi Baba,
Your gimmicks are typical. You must analyze the following:
Your current CTC is based on market values for your current job profile and job description. Your next opportunity shall be compared with your existing job size in terms of its dimensions and level of job. You must take into consideration the Business/Industry where salaries are either high-end or low-end for your HR jobs. The size of the industry also matters, which determines employers' capacity to pay.
You cannot randomly ask for X amount or Y amount as CTC. Be fair with your qualifications and capabilities because if you are underpaid or overpaid, you will be in trouble in both cases. You have to explain and justify your expected salary to your prospective employer based on the market price for this job, not on the basis of your current salary. Your salary is not a benchmark for negotiation.
Partho
From Saudi Arabia
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Your gimmicks are typical. You must analyze the following:
Your current CTC is based on market values for your current job profile and job description. Your next opportunity shall be compared with your existing job size in terms of its dimensions and level of job. You must take into consideration the Business/Industry where salaries are either high-end or low-end for your HR jobs. The size of the industry also matters, which determines employers' capacity to pay.
You cannot randomly ask for X amount or Y amount as CTC. Be fair with your qualifications and capabilities because if you are underpaid or overpaid, you will be in trouble in both cases. You have to explain and justify your expected salary to your prospective employer based on the market price for this job, not on the basis of your current salary. Your salary is not a benchmark for negotiation.
Partho
From Saudi Arabia
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Dear Partho,
If the company provides me with a 2-bedroom/kitchen/latrine-bathroom flat and full hospital facilities (for self+spouse+parents+child), also my accidental insurance, yearly gifts, and a 3-piece clothing set/safety shoe/4 sets of soap, etc., are these costs included in the present CTC?
From India, Baleshwar
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If the company provides me with a 2-bedroom/kitchen/latrine-bathroom flat and full hospital facilities (for self+spouse+parents+child), also my accidental insurance, yearly gifts, and a 3-piece clothing set/safety shoe/4 sets of soap, etc., are these costs included in the present CTC?
From India, Baleshwar
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Job Description - HR & Admin.doc
CTC SALARY SLIP FORM.xls