n a high-growth economy like India, it is important that you constantly improve

your earnings to ensure that you have enough to retire on. A good opportunity to do
that will be by re positioning yourself and negotiating better packages when you
change jobs.

With the economic revival back on track, job offers are making a comeback. But how
do you ascertain what salary is appropriate for you and the job profile? There are
certain basic steps you need to follow to assess your monetary worth.

There are various portals which provide benchmark salaries. This data is based on
the sector, company and your work experience. Sites like Pay Scale - Salary
Comparison, Salary Survey, Search Wages customize the search by asking questions on
your current employment status, employment details, etc, to give you an approximate
salary quote. But you cannot base your decisions just on these portals. You have to
back it up with your own research.

For instance, if you had passed out of MBA five years ago, you could check with
your batch mates working for the same sector to get an approximate market
valuation. You can make a more accurate comparison with a friend working for the
same company. Making wrong comparisons with a friend working for a different sector
or job profile would be misleading.

There is a subtle but very crucial distinction between the two. Often what you
deserve may be coloured by wrong comparisons or your personal definition rather
than the market value.

"Job seekers can use the trial and error method to ascertain their market value.
They should talk to 2-3 prospective employers to assess their market value.
Depending on his realistic demands, chances are that both or either of the
employers would take him on board. If neither of them are keen to hire that
employee because of his own pre-determined value, he will get his answer," says
Shiv Agrawal, CEO of ABC Consultants.

If you are moving from a bigger-branded company to a start-up or an SME, you have
the upper hand in negotiating your salary.

Obviously, the company would stretch itself to invest in employees who would be
instrumental in its growth and development.

Big companies do not have disparate salary structure as they are answerable to a
big work force, which is one of the main assets of the organisation.

"Big companies follow a gradation system and segregate the work force based on
qualification, the university/institute attended and work experience. For instance,
even when a company looks to fill a vacancy slot, it would ask for specifics such
as the B-school name, passed out year, etc. These companies would already have 100-
200 such employees in that grade and can't upset all of them by paying a different
salary," says Kris Lakshmikanth, CEO and MD of Head Hunters India.

This could be an additional qualification or a specialisation, which could put you

in a more commanding position. For instance, PhD for teachers, MD or Masters for
doctors and other healthcare professions would be helpful in the growth of these
professionals.

Initially, when you enter into an organisation, you may be treated at par with
lesser qualified professionals, but these degrees or specialised courses come in
handy during promotions and salary hikes.

Always ask for the offer letter with a detailed break-up of the salary. Once you
get the break-up, look out for the variable component of the salary, which is more
of the notional income.

"The realisation of this component is dependent upon your performance, your team's
performance (if you are leading the team) and your company's performance. Then look
out for the size of your annual payouts, which includes your LTA and medical. Other
perks such as company accommodation in the best of suburbs or a chauffeur-driven
car for your comfort travel replace the additional bucks in your salary. Hence,
ascertain the rupee value of each of these perquisites with the HR to get a fix on
the right take-home salary," adds Mr Lakshmikanth.

Make appropriate comparisons to ascertain your market value. Talk to 4-5 people and
your seniors/mentors to counter-check your self-valuation.

There are portals and forums which will give you an approximate market value for
your profession.

Moving to a smaller brand or a company is risky but highly rewarding. Similarly, a

fish out of a small pond cannot compare with the sharks in the ocean at the time of
joining the organisation. You would be given you dues after spending some years in
the bigger company.

If you are just out of the campus, be aware of the industry benchmarks and your
market value.

You salary can't be too different from your colleagues. The company can't upset the
internal equilibrium because of a single employee.

There's nothing called a free lunch. You may have to pay for the company
accommodation during the training period. Similarly, you may have to pay for the
company transport facility. Clarify these details with HR.

The CTC may look too loaded. Weed out the variable component and work out an
approximate take home after accounting for taxes and annual payouts.

You will get your gratuity only after completion of five years of service. Keep
doing part time and online courses to spruce up your skills and consolidate your
position in the team.

Even as the economy is recovering, it's still difficult to get a 50-60% hike when
you jump jobs, unlike two years ago. 2009 has changed the dynamics, say experts.

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