A friend of mine got a 65% hike last month💰
This is the script he used to negotiate the salary:
Read on till the end to know why the script worked.
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Recruiter: We will be able to offer you a CTC of 16 lacs + an annual bonus that will be dependent on your and the company’s performance for the financial year.
Candidate: [Silent]…
R: [Silent]…
C: [Silent]…
R: Did you understand the offer?
C: Hi, Yes. But I don’t think this number will ever work. Based on my experience and research of industry standards, I was expecting a salary in the higher range. [𝗖𝗼𝗻𝗰𝗲𝗽𝘁 𝟭: 𝗦𝘁𝗿𝗮𝘁𝗲𝗴𝗶𝗰 𝘂𝗺𝗯𝗿𝗮𝗴𝗲]
R: Okay… Our company has a set budget for this role and we can’t go beyond that.
C: I understand that you have a set range [𝗖𝗼𝗻𝗰𝗲𝗽𝘁 𝟮: 𝗠𝗶𝗿𝗿𝗼𝗿𝗶𝗻𝗴], but I hope you can see where I’m coming from. I want to make sure that I’m being compensated fairly for the skills and experience I bring to the table.
R: Well, what range did you have in mind?
C: Based on my research and experience, I was hoping for a salary in the range of 19–29 lacs [𝗖𝗼𝗻𝗰𝗲𝗽𝘁 𝟯: 𝗔𝗻𝗰𝗵𝗼𝗿𝗶𝗻𝗴].
R: I understand, but that’s quite a jump from our initial offer. Let me see what I can do. I’ll come back in 2 days.
[2 days later…]
R: Hi, we have reworked your offer and I am pleased to offer you a CTC of 18 lacs + an annual bonus. This is significantly higher than the initial offer, and I am sure it will work for you.
C: Thank you for considering this. But how am I supposed to accept this when I would’ve gotten this anyway after the appraisal in the coming month? [𝗖𝗼𝗻𝗰𝗲𝗽𝘁 𝟰: 𝗜𝗹𝗹𝘂𝘀𝗶𝗼𝗻 𝗼𝗳 𝗰𝗼𝗻𝘁𝗿𝗼𝗹].
R: [Herself gave an explanation 😀]
C: [Silent]…
R: Okay. Tell me your final number. I can’t go again and again on this to my higher-ups.
C: [Thinking… ] I understand your point. I have done some maths on my own, and the least on which I can agree is 20.7 Lacs + the annual bonus. [𝗖𝗼𝗻𝗰𝗲𝗽𝘁 𝟱: 𝗡𝗼𝗻𝗿𝗼𝘂𝗻𝗱 𝗻𝘂𝗺𝗯𝗲𝗿].
R: You have a very specific ask. Let me see what I can do. I’ll come back.
[3 days later]
R: Hi, I have reworked your offer and I am pleased to confirm that we are offering you a CTC of 20.5 lacs + an annual bonus. This is our final offer and should you accept it, we will release the offer letter in the next 48 hours.
C: Thank you so much for your efforts in making this happen. I’m excited to accept the offer and start working with your team
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An important insight — mostly, the first offer quoted is ~80% of the budgeted figure/
So,
a) know what the what’s the budget for the role ( you can find it on levels.fyi, ambitionbox, glassdoor, or directly speaking with people on the role)
b) get interviewed for > 3–4 positions to have leverage.
