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13-12-2016, 05:45 AM
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Junior Member
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Join Date: Dec 2016
Posts: 1
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URGENT advise needed :(
Dear All, appreciate some advice on my situation.
I quit without a job (due to personal reasons), recently went for a interview via a recruiter where I asked for 20% increment, the company said its "within their Budget". Today, recruiter called me and said the company can only offer me 12% increment as I might not have enough relevant experience. Told her I will need to consider.
What do you guys think? Should I say no, I am strictly looking for a 20% increment to the recruiter? Or is 12% reasonable in this market? It is the same industry, job scope is perhaps half similar to what I was doing so I have the knowledge.
Do you think the recruiter is conveying a lower amount to me on purpose for her benefit? I also know I'm their most preferred candidate cos my Friend there alr saw them interviewing others but not qualified.
Should I take the risk and say no? Will they forego me then?
Thanks guys!
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13-12-2016, 10:01 AM
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I agree, there is always room for negotiation, that's why it's called contract negotiation. The above poster who replied u, very nicely and plainly explained what u need to do. Good luck!
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13-12-2016, 10:19 AM
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what about fresh graduate with an internship experience at a bank. Is the contract pay negotiable?
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13-12-2016, 11:10 AM
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No need to settle anything less than 20%. To me 20% is bare minimum, I always target at least 25% each move.
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13-12-2016, 11:38 AM
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Quote:
Originally Posted by Unregistered
No need to settle anything less than 20%. To me 20% is bare minimum, I always target at least 25% each move.
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Did you hold firm on your 25% target? Or did you start asking for 30%?
Because if you go with 25% target, then they come back with 15%, probably I need to go back with something like 20%-22% or else they won't entertain negotiation.
If start at 30% target, then at least there's room to lower to 25% for negotiation.
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13-12-2016, 01:35 PM
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Quote:
Originally Posted by Unregistered
For the last job I just told the recruiter my expectations are above 20%. The first offer was slightly above 20%, then it was to & fro a few time and settle at ~27%.
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Woah. That's amazing. It must be that your resume is stellar.
I think different technique for different people. I can't convey an expectation of above 20% with confidence like you. I appreciate the information but I think I'm better of with lower expectations.
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13-12-2016, 01:51 PM
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Quote:
Originally Posted by Unregistered
Woah. That's amazing. It must be that your resume is stellar.
I think different technique for different people. I can't convey an expectation of above 20% with confidence like you. I appreciate the information but I think I'm better of with lower expectations.
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Depends greatly on the nature of the job change. It also depends on annual remuneration package instead of monthly basic.
I have 4 job changes in the 7 years. Based on annual remuneration package
1st Job (close to 2 years) to 2nd Job for better job prospect. Related skills - 50%
23% increment
2nd Job (3 years) to 3rd Job for upgrade to management level. Related Skills - 30%
30% increment
3rd Job (7 months) to 4th Job because of company restructuring and change of superior.
5% increment
4th Job (1 year) to 5th Job for better job prospect (Regional role). Related Skills - 60%
32% increment
Was countered offer for 1st, 2nd (1st resignation one year before 2nd resignation and chose to stay) and 4th job.
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13-12-2016, 01:53 PM
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Don't blindly listen to what others have to say, without understanding more of the context behind it. Different industries, different departments, different landscapes... these play a huge part in determining the amount of increment that is reasonable to ask for, and the amount that is just plain ridiculous.
I had a friend who received a 60% increment, jumping from a UK bank to a German bank. Is this normal? If u knew his backstory of how he had stayed at the UK bank for 7 years and only received an effective increment of 4% each year, u'll understand why he got this increment amount.
If the above poster receives a 20+% increment every time he jumps, first off, congrats. My questions will be, what industry are u in? Are u in a client facing role? How many years experience do you have and how long do you stay at a role before moving?
Without understanding all these, it is impossible to use 20% as a benchmark without coming across as ignorant and arrogant to the hiring manager. For myself, I jump on an average of 12-14 months, and my expectations are between 10-15%. This is in line with the average in the banking space and usually falls within reason with the hiring managers for someone of my experience level.
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