Hello friends,
I currently have a CTC of 1.9 LPA, and I am looking for an increment in my current company. What percentage of salary should I ask for as an increment or hike? Essentially, I am aiming for a gross salary of 25k. Can you please assist me with this? Thank you.
From India, Pune
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I currently have a CTC of 1.9 LPA, and I am looking for an increment in my current company. What percentage of salary should I ask for as an increment or hike? Essentially, I am aiming for a gross salary of 25k. Can you please assist me with this? Thank you.
From India, Pune
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Dear Anamika,
You are asking for a 58% hike compared to your present salary. In addition to the questions posed by Mr. Harpreetwala:
- What was your increment in the previous fiscal year 2016-17?
- How do you justify your demand for a 58% hike?
Thank you.
From India, New Delhi
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631You are asking for a 58% hike compared to your present salary. In addition to the questions posed by Mr. Harpreetwala:
- What was your increment in the previous fiscal year 2016-17?
- How do you justify your demand for a 58% hike?
Thank you.
From India, New Delhi
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Dear colleague,
Please understand the basics. You can only expect and express your intention and not demand. Your performance is the key factor, along with market trends and company policy, in determining your annual increment. Your performance should be far, far more outstanding to command a 58% increase.
So be reasonable and realistic about your expectations.
Regards,
Vinayak Nagarkar
HR Consultant
From India, Mumbai
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Please understand the basics. You can only expect and express your intention and not demand. Your performance is the key factor, along with market trends and company policy, in determining your annual increment. Your performance should be far, far more outstanding to command a 58% increase.
So be reasonable and realistic about your expectations.
Regards,
Vinayak Nagarkar
HR Consultant
From India, Mumbai
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Compensation Management: Performance Reward Budget
In compensation management, the annual performance reward budget normally allocated worldwide is between 3% and 10%, depending on the company's financial health and policy. However, individual star performers can receive double their present salary when promoted to the maximum two-step grade upgrade.
Rainbow Chart Formula Adjustments
Companies that use the so-called "rainbow chart" formula will only receive adjustments of between 1% and 5%, again depending on the performance appraisal that the employee receives in that particular year. Overall, a company always adheres to the compensation principles of "affordability" and "sustainability" concerning the total payroll cost that they have to budget and fund year on year.
Best regards.
From Philippines, Parañaque
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In compensation management, the annual performance reward budget normally allocated worldwide is between 3% and 10%, depending on the company's financial health and policy. However, individual star performers can receive double their present salary when promoted to the maximum two-step grade upgrade.
Rainbow Chart Formula Adjustments
Companies that use the so-called "rainbow chart" formula will only receive adjustments of between 1% and 5%, again depending on the performance appraisal that the employee receives in that particular year. Overall, a company always adheres to the compensation principles of "affordability" and "sustainability" concerning the total payroll cost that they have to budget and fund year on year.
Best regards.
From Philippines, Parañaque
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Salary & Compensation Guidelines.zip
Basics of Compensation Management.pdf
Salary Increment.pps