What kind of a hiring process is this? Need advice
I recently interviewed at a large company. I applied by sending my resume to someone in my network who works there and they forwarded the resume to HR. After that I got a call from HR and they asked for my expected salary among other things to which I answered that I want a 40% hike. I cleared all technical interviews and after that I got a mail saying that they would like to offer me a full time role and asked some of my documents to prepare an offer. I was curious about them asking for documents without having an HR round first so I called the HR and asked some details about the job and she ensured that they can give me a 40% hike on base but not on TC so I assumed they will hike my base and keep the other components in a similar range to what I currently have. I send the documents and on the next day I get a call from HR asking about my expected compensation again, I then ask about their salary structure and they explain that it's all fixed. I was confused on what number to give them so I said that I wanted a 40% hike but since my TC consists of variable components and theirs don't, I would like to know what is the maximum salary they could give me to which the HR replied that they will let me know in a while. It's been more than 24 hours and I haven't heard back. I don't want to call the HR because that might make me look desperate and give them a reason to lowball me but I'm not sure what to do and am even more confused about what kind of process is being followed at this company.
You should always have a number in your mind for fixed pay and a number for total annual tc.
If asked, directly answer that figure.
Some random tips:
- don't say 10L, say 10.483L
- Before saying any expected numbers, give them some random numbers facts [like inflation this, your prev salary that, then say "that is why I am expecting xyz ]
But how do I come up with a number without knowing the salary structure? Like my current TC has a perf and retention bonus and if the other org doesn't then I'm obviously going to ask for a higher fixed salary from them. And if I already have a TC in mind but they're offering all fixed instead of variable components, then I can accept a lower TC than the one I had in mind.
There are 3 parts:
Fixed money - base pay [whatever you will get 2nd or 3yr onwards without any hike ]
Variable part - Joing bonus, retention bonus, yearly bonus
Shares : Esops/rsu etc
Always have a number for fixed part.
Simply ignore the variable part. If they give, good, if they don't, then also cool
If it's a big listed mnc which gives shares, then have a number for that as well.