Getting your actual worth

As freshers your first priority after passing out of college is to secure a job for yourself. In this pursuit for a job you hardly give any consideration to the pay package. You grab any offer that comes your way. But along with writing resumes and preparing yourself for interviews it is important that you learn how to negotiate your salary with the company’s HR. After all, the pace at which you will grow in the corporate world will very much depend on the salary you settle for in your first job.

In order to get your actual worth you need to be aware of the current industry standards. A HR professional dealing with compensation issues suggests, “Visit the websites of the companies you intend to target in the sector of your choice. Study about their position in the market and growth records. Speak to your college alumni and friends to get more information. Read industry publications and browse through websites that are specialized in providing information about salary across sectors.”

The salary which you will be offered will consist of fixed and variable components. The fixed part will be your take home and the variable one will depend on your performance, company’s profits and other factors. Try to get a clear picture about all your benefits. For example, retirement benefits (provident fund, pension plan and gratuity) and insurance benefit (health insurance and group insurance benefits). Besides this, you can have other benefits like company leased accommodation, company leased car, free telephone and free club membership. In order to further sweeten the deal the company may give you some stock option and joining bonus as well.

You must be having some expectation about your salary but as a fresher it is good to show to the employer that you are more interested in the job profile than your pay package. “Never ask your interviewer about your compensation. After you clear the technical interview an HR round will be conducted to discuss about your salary,” says an employee of an IT company.

If your salary is reasonably good, then accept it without any arguments. If it is not up to your expectation then request the HR to make some adjustments. “Do not show your temper in course of the discussion. Put in your viewpoints gently and it will be acknowledged for sure”, advises an HR executive.

As fresh graduates you may not have work experience but your technical knowledge and enthusiasm will be an asset to the organization. So try to get a good pay through effective negotiation with the HR. In fact, your entry level salary package will lead you to a great future ahead.

- Ranjita Chattopadhyay (views expressed in the article are that of the author)