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