What's the right way to calculate hikes ?
So, a friend of mine was earning 7LPA (6 fixed and 1 variable) in her last job. She got laid off a few months ago and after a bunch of interviews, she finally was able to clear all rounds and in the HR round, she was offered 7.95 LPA(6.95 fixed and 1 variable) as her new compensation.
Although she was informed that she'll be given a 30% hike which is a market standard when switching jobs, I don't understand how 7LPA to 7.95LPA is a 30% hike.
We both as confused w.r.t math that happened here. Can anyone clarify on this ? Should she negotiate ? (Bcz from my mathematics skills, she's got 13% hike and not 30% hike)
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Companies will, in general, offer the least they think a candidate will accept.
Given that your friend was laid off and has no other offers, they obviously know that she has more to lose from them walking away than they have to lose from her walking away.
If your friend feels confident enough to do so, she can always ask for a renegotiation on their first offer.
Makes sense. That loss of leverage plays a very crucial role
Did she hear correctly and it wasn't 13 instead of 30?
Be that as it may, you have more leverage if you have competing offers. Does she have that?
No competing offers and yes she has call recording of it. HR did clearly say 20-30 milega aapke current CTC k upar.