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.
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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.