Job changes typically come with a higher salary hike compared to in-role promotions or annual increments. A common guideline is to aim for at least a 10-30% increase in salary when moving to a new company. However, the salary hike is depending on factors such as industry, location, experience, and the specific roles and responsibilities involved.
Recently, Gaurav Kheterpal, founder and CEO of Vanshiv Technologies, shared that he had to let go of a ''really good candidate'' because of her high salary expectations. In a post on X, Mr Kheterpal said that the candidate who had four years of experience, was currently earning Rs 28 lakh per annum. However, she was expecting a salary of Rs 45 lakh per annum--an increase of 17 lakh from her current package.
''That moment when you come across a really good candidate. You ask HR to screen the candidate & they report the numbers -4 Yrs Exp -Current CTC: 28 Lacs -Expected CTC: 45 Lacs Read it again- this is 4 Years Experience. All you can do -pass it off with a bit of humour,'' the tweet read.
A screenshot of his conversation with the human resources department was also attached along with the post that read, ''We will have to apply for a loan to hire her- let's skip.''
See the tweet here:
That moment when you come across a really good candidate. You ask HR to screen the candidate & they report the numbers
— Gaurav Kheterpal (@gauravkheterpal) March 13, 2024
-4 Yrs Exp
-Current CTC: 28 Lacs
-Expected CTC: 45 Lacs
Read it again- this is 4 Years Experience. All you can do -pass it off with a bit of humour#startup pic.twitter.com/inxIP0uewU
The tweet has gone viral, garnering a range of responses. Some reasoned that companies should not shy away from giving skilled candidates a well-deserved raise, while some said that such a hefty amount is too big for just four years of experience.
One user wrote, ''IMHO, experience can not be the only deciding criteria for one's salary. If you think the person can deliver what's expected of him/her and you have the budget for it, it's worth giving a shot. Really good talent is hard to find.''
Mr Khetarpal replied to his post and said, ''Good point, but that logic works well for product companies with a fat purse and investor funding, not so much for small bootstrapped consulting and services companies like ours.'' In another tweet, he revealed that his salary was Rs 6.5 LPA when he had four years of experience.
Several users also urged companies to be transparent in their hiring process and add salary details in the job description to save time and effort for both parties.
Another user commented, ''True and that is why companies should be transparent in telling what salary they are offering for a role. Salary should not be dependent upon how much the candidate is drawing but on how much you think you are willing to spend for the role. Ppl will apply accordingly. Saves time.''
A third said, ''Offer equity then.'' A fourth stated, ''You know what you can do to avoid this? add the salary details in the job description. no one's time will be wasted that way.''
A fifth added, ''I just hope the person they rejected forms their own company and realises their worth. There is nothing wrong in asking for what you think you deserve. Many enterprising people/organisations do not judge you by your age/experience but simply by skill.''
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