0:25 so let's discuss your salary
0:28 expectations a good negotiation is a
0:30 win-win for both the parties involved
0:32 but it's also like a chess match where
0:34 both the candidate and the HR are trying
0:37 to outplay the other as a recruiter my
0:39 job is to stick to the budget provided
0:41 by the company while hiring the talent
0:43 and the candidate would obviously want
0:45 to maximize his returns from this offer
0:48 a good negotiation ends in a stalemate
0:50 the guy I'm interviewing right now he's
0:52 applying to be a product analyst with
0:56 our startup his current salary is 6.5
0:59 LPA and the budget given to me is 12 LPA
1:01 the found Rohit was looking for someone
1:03 to lead the product team and unmo seemed
1:06 like the perfect fit Rohit was very
1:08 insistent on getting him on board so I
1:10 might have to spend a little extra time
1:13 and money to get him but let's see what
1:16 number he's thinking sure I do have a
1:18 number in mind but since you're a
1:20 startup and I may be expected to perform
1:22 multiple responsibilities I was hoping
1:24 to get a full disclosure from your end
1:25 first to you know like check if we're in
1:27 the same range
1:29 h of course I wasn't going to say my
1:31 number number first it makes me look
1:33 weak and the weaker you seem the Lesser
1:35 negotiating power you
1:37 hold plus I've checked with their other
1:38 employees and I know the pay parity
1:40 within the company they're paying around
1:42 10 to 12 lakhs perom to product analysts
1:44 here so I expect to hear a similar
1:47 number from her as well okay so the
1:48 expectations will be the same as what
1:50 Rohit told you in the previous round but
1:52 of course you'll be expected to handle
1:54 slightly more than the average 95
1:57 welcome to a startup I guess so like you
1:58 must have been told in the previous
2:00 rounds as well the plan is to equip you
2:03 to handle product end to end you'll have
2:04 to take full ownership because the
2:06 outcome will depend on you and if
2:07 everything goes right you'll be our
2:10 product manager in the next 6 months of
2:12 course we're still building out our team
2:13 you will be the first to join and we'll
2:15 build a team with you in the center
2:17 typically we work 10: to 7: but of
2:19 course there are days where we all
2:21 stretch beyond our work schedule and
2:23 Saturdays yes we work Saturdays where a
2:26 startup we can't not afford to
2:29 fair whatever she said just now was not
2:31 new information I already anticipate an
2:33 increased workload here but it's just
2:34 good to have it become part of the
2:36 conversation early on especially cuz
2:37 then I could play to the context of
2:39 since you expect more work from me I
2:43 expect more money from you so so I'm
2:51 range okay I can offer you a CTC of 25
2:54 LPA the CTC I've shared includes many
2:56 different components like joining bonus
3:00 performance bonus and majorly esops he
3:02 won't receive them immediately or every
3:04 year the bonuses are just onetime cost
3:07 to the company and esops are mostly
3:09 paper till they fructify there's nothing
3:11 wrong or unethical about this and it's a
3:13 standard practice but it makes the
3:16 candidate more excited and proud about
3:18 the compensation they would be drawing
3:21 they can say their CTC is 25 lakhs among
3:22 friends and relatives and feel good
3:24 about themselves most won't ask to check
3:26 the breakup once they hear such a high
3:28 number and I can keep the monthly cost
3:30 down but I'm sure he ask for the
3:34 breakdown and what's the breakup of [Music]
3:36 [Music]
3:39 this like what's the monthly in hand so
3:41 12 lakhs we'll be giving you in esops m
3:44 1 lakh would be your joining bonus okay
3:46 and 2 lakhs would be your performance
3:48 bonus got it and the rest would be your
3:52 inhan salary every month H so 10 lakh
3:55 perim essentially not 25 L per
3:58 an yes that's more than a 50% hike from
4:00 your current monthly Sal and the esops
4:02 alone can build you so much wealth
4:04 they're worth 12 lakhs today but they'll
4:10 years there are three types of
4:12 negotiators collaborative who try to
4:14 create a win-win situation for both
4:17 sides competitive who try to maximize
4:19 only their outcome and accommodating who
4:22 put the other side's concerns first I'm
4:24 usually collaborative but depending on
4:26 the candidate I sometimes have to switch
4:28 to one of the other methods what ano
4:31 says next would tell me his negotiating
4:32 style can you tell me what is the
4:36 breakup again collaborative so joining
4:40 bonus of 1 L mhm that I receive when
4:42 25,000 immediately and the rest once you
4:45 complete a year here joining bonus a
4:48 year after I join industry
4:51 practice okay and the performance bonus
4:54 varies from 10 to 20% so you will
4:56 definitely get 1 lakh and you can go up
4:59 to 2 lakhs got it any other condition on
5:02 this bonus or you're guaranteed to
5:05 receive a lak okay and esops worth 12
5:08 lakhs uh what is the vesting period and
5:10 buyback options the stocks will be
5:12 wested over four years in an increasing
5:15 manner so first year 10% then 20 then 30
5:17 40% in the last year you can choose to
5:19 encash the esops anytime when we go
5:23 public mhm if we go
5:25 public it's okay to take time to do this
5:28 during a negotiation it's not rude and
5:29 it is very necessary for you to know EX
5:31 exactly what you're signing up for and
5:33 exactly how much you're getting each
5:35 month andol we want you here for the
5:37 long run and grow this company and if
5:39 you do so you should receive the
5:41 dividends of the growth story
5:44 competitive no that is fair and I also
5:45 want to be here long-term it's just that
5:47 my salary structured in a way that it's
5:50 still 10 lakhs perom um what can I
5:51 expect my yearly appraisal to be you're
5:54 guaranteed a 15% appraisal and we've
5:55 mentioned a clause in the agreement
5:57 where if your performance exceeds our
5:58 expectations then we will reward you
6:02 fairly the yearly growth seems too less
6:03 if I keep esops out of the picture and
6:05 take minimum appraisal and
6:07 bonus I'm still pretty early in my
6:10 career I have both an appetite for risk
6:11 and a hunger to explore different
6:13 opportunities but this offer seems like
6:15 it will tie me down with the company for
6:17 a very long period an offer that
6:19 presents its rewards on the condition
6:21 that I stay for multiple years might
6:22 become a negative incentive for me to
6:25 stay here Beyond ideal any job should
6:28 either help you learn earn or upt to a
6:30 better position I know I learn a lot and
6:32 I'll earn decent so I need to make this
6:34 work for me I need to convert this offer
6:36 such that it allows me to encash most of
6:39 it upfront and if it makes sense to
6:40 continue here long term I can always
6:42 negotiate a new
6:44 contract could you maybe reduce the ESOP
6:46 component a bit and balance that with my
6:49 enhanced salary you don't want the esops
6:52 I do but I just want a better balance
6:54 between my esops and my enhan sality
6:57 right now it's like 50% of my CTC
7:00 Okay the reason I present such a breakup
7:03 of salary is for two reasons number one
7:04 it keeps the monthly cost in check for
7:06 the company I'm only giving a monthly
7:08 salary and the rest of the competents
7:10 are either just onetime payments or on
7:13 paper for some time number two the
7:15 larger number sounds lucrative to most
7:17 candidates and since it's to be released
7:19 gradually it incentivizes them to stay
7:22 for longer but now since he's asking me
7:24 to balance this better and I've already
7:27 set 25 LPA I might have to turn out a
7:31 higher salary and go over budget
7:33 what do you think is a better balance
7:35 I'm thinking 6 lakhs as esops and the
7:37 rest can remain as is which means 16
7:40 lakhs per that won't make sense for us I
7:41 need to keep this company lean and
7:43 monthly cost to a minimum we're looking
7:45 for early stage team members like I told
7:47 you not just employees and for that it's
7:49 important that we entrust you with the
7:51 growth of the company for that you need
7:53 to be incentivized to stay here for
7:56 longer that's fair and as much as I want
7:58 to stay here and ensure that outcome for
8:00 me and for you there's never really a
8:01 guarantee that the esops will
8:03 materialize I mean I want it to happen
8:05 but what if it doesn't I also have to
8:08 look after my finances right salary
8:10 negotiations are tricky one misstep and
8:12 you can end up with losses of lacks and
8:15 crores over the course of multiple years
8:18 those losses do compound drastically but
8:20 what can hurt even more in the long run
8:22 is not knowing how to manage the money
8:24 you make wealth creation is really a
8:26 two-step process it's important that you
8:28 try to negotiate as high an offer as you
8:31 can but it's equally important to know
8:33 how to manage that money and most of
8:35 them don't know how to do the second
8:37 part they listen to financial gurus
8:39 online and invest into one stock that
8:42 eats away all their savings or they
8:44 would never bother to learn where to
8:46 invest their money so that their money
8:48 can make money for them while they sleep
8:51 that is where zeroda Varsity comes in
8:53 Varsity offers free courses that help
8:55 you manage your money better it's a free
8:58 to use platform with weekly live classes
8:59 where experts teach you on how how to
9:02 grow and build long-term wealth I urge
9:03 you all to check out the link in the
9:05 description join a free class and start
9:08 your journey to managing your money
9:10 better your financial condition depends
9:12 on the company's Financial condition and
9:13 let me tell you something the health of
9:15 the company's finances is not something
9:17 you have to worry about we're raising
9:19 our next round very shortly so that's
9:21 even better right like if the company is
9:23 poised to make money then the teammates
9:25 can be compensated better plus you know
9:26 my role is going to be a revenue Center
9:28 not like a backend support function
9:30 until the time we are aita positive it
9:32 can get tricky for us we need to have a
9:35 Runway this is getting tough she
9:37 definitely won't go over her budget 12
9:39 lakhs maybe
9:41 13 I understand you want to keep the
9:43 monthly cost
9:45 low can we look at an incentive
9:46 structure where I get the get a
9:48 percentage of the no we can't do that
9:50 it's not a good look for the company on
9:52 moal and we want to maintain internal
9:54 pay parity I can't be treating you
9:56 differently definitely won't go over the
9:58 budget 12 LS it is let's look at it this
10:00 way for the first for 6 months we keep
10:02 your pay at 12 LPA this gives us enough
10:04 time to see if you can lead the team
10:06 effectively or not then if all goes well
10:08 you can become product manager and we
10:10 bump your pay to 18 LPA everything else
10:11 Remains the Same but if you're just
10:14 decent we take your pay to 15 LPA and
10:15 the next appraisal will happen a year
10:19 after that point Fair tempting but I've
10:20 learned never to accept before having a
10:22 full disclosure on the kpis
10:24 responsibilities and terms cuz a lot of
10:25 it won't ever be written on the contract
10:27 it'll just be a verbal agreement
10:29 moreover for me at the moment it is more
10:31 more about gaining trust than salary how
10:33 would you define all going well what
10:35 would the kpis and benchmarks be for the
10:38 next 6 months too soon to say that but
10:40 you'll know as we know we're still in
10:42 the early stages where we've defined a
10:44 path but we could have to Pivot and the
10:45 kpis could change
10:48 accordingly 12 lakhs it is going to be
10:50 but let me just give her one quick win
10:53 can we still look at 14 lakhs perom when
10:56 I join 12 LPA unmo I'm already stretching
10:57 stretching
11:00 it should I accept the offer should I
11:02 ask for some time to consider this
11:06 should I negotiate a little more should
11:07 I walk
11:12 away H earn learn up turn if you get
11:14 just one of the three in a job it is a
11:17 compromise two is the goal three is
11:20 fantastic here I can get all three so no
11:23 point negotiating more yes let's do it
11:25 great I'll mail you the offer letter in a
11:30 while and PA was a bit sneaky with his
11:32 negotiation I got the offer that I
11:34 wanted more or less anyways I just
11:36 wanted the offer letter I have however
11:38 extended an offer to one more candidate
11:40 before him is backup I'll use this offer
11:41 letter to get a hike in my current
11:43 company or maybe I'll leverage it with
11:45 some other company I'll wait for her to
11:47 reply first and then send the offer to
11:48 him it's just good to have a backup
11:50 while negotiating it's just good to have
11:51 a offer letter in hand while you're negotiating
12:02 um what can I expect my yearly appraisal to
12:03 to
12:08 be whatever you want 200% we have we
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