While there are millions of us trying to make a break through in the job market, there are a few individuals who manage to execute a higher bargaining power – sometimes because of their educational backgrounds or their rich experience.
But there are some exceptions to the rule who are actually eating into the opportunities of many other bright minds. In this post Vishwas Mudagal shares his experience of interviewing a candidate who seemed to have an inflated bargaining power of salary negotiation.
Just last week, I interviewed a candidate with a high salary. Working with a reputed company, his resume was impressive. During the interview, I realised he is not really upto the mark. I got curious as to why he is getting such a high CTC for 2.5 yrs exp.
When I probed, I was appalled at how industry has been artificially inflating the CTCs. The candidate had shifted 2 companies in 11 months. In his first company, after his appraisals he got a package of 8 lacs/annum from his previous 5.5 lacs.
Next he quit & joined second company for 11.5 lacs (45% hike!) Further after 8 months for whatever reason, he starts looking out again. Now, he held an offer of 16 lacs already. I asked him ‘Why are you still looking out?’ He told me he is looking for better opportunity.
He wanted us to better the offer by giving him 17 lacs. Now tell me what is going on here? Someone who was getting 5.5 lacs 9 months back is now getting an offer of 16+ lacs. That’s 300% hike! Who’s responsible for this?
We are! Because everyone is hungry for talent. This needs to stop & everyone needs to be aware of this. Before you make an offer, get to the bottom of when & how he got all his previous hikes. This is key!
Have you faced a similar situation? Let us know in the comments section below.