Mar 18, 2008

SALARY EXPECTATION CALCULATOR - ”What should be my salary?”

Often I have seen employees are not satisfied even if they are paid well. They are unable to establish - right expectations. They keep comparing or get swayed by the salaries quoted in business magazines.

I have collated the views expressed by number of my colleagues / friends on various occasions and attempting to put forward a calculator for salary expectation . Here it goes ...

You need fit yourself in one the categories to know whats salary to expect :


Category 1(Post Graduate): If you have excellent domain knowledge with minimum 7 years experience and are able to project your work in the organization. Then

Minimum salary to expect ( Gross )= Age * Rs.100,000

E.g. : if your age is 33 than you must get Rs 33 lacs (Gross Salary )


Category 2(Post Graduate): If you have excellent domain knowledge with minimum 7 years experience but find it difficult to project yourself in the organization. Then

Minimum salary (Net take home) = Number of years of experience * Rs 2,00,000

E.g.: If you are at 33 with 8 years experience than should expect 16lacs ( Take home )


Category 3(Graduate or PG part-time): If you have acceptable domain knowledge and able to create a right perception. Then expect

Minimum salary (Gross) = Number of years of experience * Rs 1,50,000

E.g.: If you are at 32 with 8 years experience than should expect (gross) 12 lacs


Category 4 : If you are weak on perception management/ domain knowledge than consider yourself lucky that you are still employed .

The above categorisation is applicable for growing sectors like financial services ,banking ,telecom ,information technology etc in which quality of human capital is key success factor .

For the employee working other industry can apply a 25 % discounting factor to arrive at salary to expect.

One can put his /her career growth on 5th gear by right perception management backed by efforts to succeed. Few basic suggestions for perception management :

a) Work towards solution don’t discuss problems
b) Debate /discuss alternative solutions with your senior . Don’t argue.
c) Don’t escalate issues better to quit the job.Escalation rarely helps inlong terms
d) When you lose, don’t lose the lesson.
e) Learn from others mistake .
f) Relationships go a long way to shape-up your career .

Start calculating ...

2 comments:

Unknown said...

wise words... i liked the interesting analogy of the calculations.. also would like you to elaborate a bit more on the "Perception Management" bit you have mentioned ...

Anonymous said...

Sir, you must be minting money. How I wish!