Responsive Ads Here

Friday, February 28, 2020

Human Resource - Salary Negotiations Interview Questions

Human Resources Salary Negotiations, Salary Negotiations Tip, Salary Negotiation Interview Questions

Salary Negotiation


After your profile is shortlisted (refer to my blog "How To Prepare a Resume" and the interview process is selected. The next come is "Salary Negotiation" which is a very important part of any recruitment process. Not negotiating the salary part at the time of Human Resource interview and accepting it as is may put you in dissatisfaction.
Your upcoming promotions and salary appraisals also depend on the initial CTC offered by the hiring company. In fact, it will also affect future change, hence good and healthy negotiations are important for career growth.
I have made a blog regarding "factors considered for salary calculations"

So let us discuss a few points before we move into an actual topic.

1) Try to find the average salary and package for the position -
Refer to different sites like "Glassdoor", and "Payscale" to understand the CTC range offered for the position applied.
Sometimes hiring companies mention CTC range while placing job adds on the job portals, which will help you understand the pay scale.

2) Get more details about the company - 
The CTC budget, up to a certain extent, also depend upon the size and turnover of the organization, So it is always advisable to dig out the details about the organization before applying.

3) Job grade and band  -
Try to understand from the HR person about the grade and band they are willing to fit you into. In case the company is hiring you for lower grade which has less CTC budget then it will become tougher to climb up the hierarchy in the future.

4) Take social help -
Ask the experienced people or the former colleagues to provide their views on the job offer and how much CTC you can expect from the company for the position.

5) Calculate Take-home salary -
Most of the time it is observed that candidates do not think about take-home salary and they keep a certain percentage hike in mind when they go for the interview. When you are considering the CTC, it is equally
important to know how much you want as Net Salary (take home) and will be bringing home after-tax deduction.

6) Give your best in the technical interview - (regarding clearing interviews to refer "How to get selected in an interview"

After you have done the proper homework regarding the hiring company and salary range, give your best at the time of the technical interview.



Now let's discuss, How to negotiate the SALARY

1) Be honest & Explain - 
When the recruiter asks you about your CTC expectation, do not give any fixed figures. Instead, you can say-
"I am very excited about the company and the projects and want to join at earliest. But I also need to think of meeting my family expenses and consider the growing inflation rate. I WOULD BE MORE THAN HAPPY TO ACCEPT THE OFFER ANYTHING BETWEEN THIS RANGE" (here you need to mention min. and max. figures).

2) Show eagerness -
Some times recruiters talk in a negative way to test the patience level of candidates. Even if you do not like the way the recruiter is talking, keep calm and be humble and keep your approach positive.

3) "Your expectations are too high" -
It is a very common thing that the hiring manager would disagree with your CTC expectations so explain to him why are you expecting this CTC. For eg., you can say -
"Sir, I agree with you, but as mentioned earlier I have certain family responsibilities & I do not want my family to compromise because of my salary"
I personally consider this as a very effective statement because everybody has a soft-corner for family.

4) Budget Issue -
This is another way the hiring manager defends his statement. In such a case simply say "I understand but I will not join any organization below XXXX this figure".

5) Be constant -
The hiring manager may not easily agree to your proposal but don't get disappointed and push gently by justifying your experience, knowledge, qualification, certifications, awards & achievements.

6) Keep margin for negotiation - 
Considering the fact, the hiring manager will not agree to the said figure, always keep 5% to 10% margin.
I mean, if you want a 35% hike on your current CTC then ask for 45%.


No comments:

Post a Comment