SALARY is one thing our job's revolve around. From quoting a higher cost to company (CTC) during an interview to finding our your colleagues salary, we all have zillions question about it in our minds. All your queries answered in this zone.
1. My internship company is not ready to pay? Is that fair? Please suggest.
If you are on a short training, as a part of the curriculum, then the stipend is a prerogative of the company, though most companies do pay stipends. It is you who wants to learn, remember! When you join the company as an employee albeit on training, you are entitled to a salary/stipend based on the company norms. In this case if you are not being paid, then it time to look for another job.
2. What percentage of increment should I expect annually? Or is it related to performance?
Today in the era of competitiveness, increments and bonuses are clearly performance based. So better the performance better are your chances for higher increments.
3. If I am switching my job, how much more should I demand?
Generally companies offer a hike ranging between 20 to 30 per cent, however there is no hard and fast rule. You may get a 5 per cent increase or a 100 per cent increase, depending on the role, your area of expertise, need of the company, your negotiating power etc.
4. Should I initiate the topic of salary during my first interview?
Never. Never initiate a salary discussion during the interview. Wait for the interviewer to bring the subject up, even if it's postponed to the next rounds. In case, you are still keen to know, check on it through your consultant.
5. How do I find out my colleague's salary?
What is more important to know and to focus on, is your performance in the company and how to achieve more. There will always someone in the system who is earning more than you or less than you. Set your own benchmarks.
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