SALARY NEGOTIATION
Sweden raises salary threshold for foreign workers by almost 120%; mulls further hikes
The government plans to further raise the threshold to 35,600 kronor, with exemptions for certain workers and a one-year grace period for current permit holders. The updated threshold applies to new applications and renewals from June 18, 2024, with annual adjustments based on median salary figures. Temporary seasonal workers must meet a lower threshold of 13,000 kronor but also ensure their salaries align with industry standards.
What will happen to Tesla CEO Elon Musk's $56 bn pay package?
Tesla shareholders are set to vote on reinstating CEO Elon Musk's $56 billion pay package, which was invalidated by a Delaware judge for being unfair to shareholders. A "yes" vote won't automatically reinstate the package but could strengthen Tesla's legal case to overturn the ruling. If the package is rejected, Tesla may still appeal the decision and negotiate a similar pay plan with Musk. Regardless of the vote outcome, Tesla faces potential legal challenges and significant costs if a new package is required.
How startups are changing their hiring strategies to streamline costs
Facing a prolonged funding drought, startups are trying a new approach to cost-cutting. Layoffs continue, but some companies, like Swiggy and Ola, are strategically refilling certain open positions with lower-salaried junior staff, according to industry insiders.
'Appraisal, promotion system in Indian cos is a joke': Dehradun techie shares ideas to get big pay hikes
A post by an engineer in Dehradun for higher salaries has sparked a discussion on social media. The engineer emphasized the need for individuals, especially software engineers, to consider switching jobs for better pay. The post has led to conversations about job mobility and fair compensation in the Indian job market.
Economy is on strong footing then why such low salaries for IITians?
With companies scaling back on hiring and offering lower salary packages, IIT students at the tail-end – those that haven’t been placed yet – are being offered annual packages below Rs 10L
Myth Debunking 101: Salary negotiation is not meant for freshers
Many freshers often hesitate to negotiate their first salary, but it's crucial for setting a positive tone in their careers. Mental barriers like unfamiliarity with negotiation skills and pressure to start quickly hinder negotiations. Lack of market salary information and fear of rejection also contribute to hesitation.
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Headcount down, It's not final countdown
Infosys and TCS reported headcount declines in 2023-24 due to automation. Indian IT workers face challenges negotiating salaries with generative AI. Global tech job markets are impacted by AI, leading to a shift in causality for Indian companies.
IIT degree doesn't guarantee crores: IIT-Roorkee alumni and IFS officer gives a reality check, busts placement myths
The reality of IIT placements, revealed by IFS officer Gaurav Garg, showcases a wide salary range from ₹6-35 lakh, with CSE and ECE graduates receiving higher offers. Global companies like Google and Facebook offer crores, but salary packages can be complex, often resulting in lower in-hand pay. IIT Bombay struggled this year, with 36% of students failing to secure jobs, reflecting challenges in a volatile economic climate.
No banking on Saturdays? 5-day work week for banks agreed by IBA; from when is it likely to be applicable
5-day work week for banks awaits govt notification: Bank employees may soon work a five-day week, i.e., Monday to Friday. This means that banks will be closed on all Saturdays and Sundays, if government agrees.
Myth Debunking 101: A higher education degree = A hefty paycheck
In the modern job market, the belief that higher education guarantees higher earnings is being challenged. While degrees can open doors initially, they don't guarantee long-term salary growth. Continuous learning and adaptability are crucial in rapidly evolving industries. Industries like technology and digital marketing prioritize skills and practical experience over formal education.
In the era of gender disparity, women still find it a challenge to ask for a pay raise
The gender gap in pay raises persists due to women's hesitation influenced by confidence disparities and unconscious gender stereotypes. Organizational culture, compensation philosophy, and market benchmarks play a crucial role. Women should keep records, conduct research, negotiate, and consider non-monetary incentives.
The perception of gender pay gap and bias seen rising with affluence
The second report from the 'Women and Finance' study by DBS Bank India and CRISIL reveals that 23% of salaried women in Indian metros perceive a gender pay gap, while 16% report experiencing gender bias at work. Affluent women show a higher perception of the gender pay gap and bias compared to semi-affluent women.
Want a better salary but not sure how to negotiate with a prospective employer? 6 fail-proof tips from a Harvard Business School professor
Career expert Matt Gavin, who is associated with Harvard Business School, shared some tips to put your best foot forward when negotiating your compensation package during an interview.
Signing bonus: The pros and cons, and how you can negotiate
Companies use signing bonuses as a powerful tool to attract top talent by swiftly onboarding them without compromising on internal compensation. Bonuses are offered for specialised or high-demand roles, providing an immediate financial incentive to join. Pros include immediate financial boost, competitive edge, and retention tool, while cons include tax implications and potential misalignment.
5 tips to ace any job interview and stand out
Many competent professionals and high-potential freshers struggle to get past the interview stage. The key lies in the fact that interviewing is an independent skill and is unrelated to your expertise in the profession. Focus on getting the basics right and you can be in the top 20% of the interviewees. Want to be in the top 2%? Become the expert who demonstrates effort through your research. Here are steps you need to keep in mind to ace your next job interview.
IBA, bank employee unions agree to 17% salary hike, latest on 5-day week proposal: 10 points
IBA-bank employee union wage revision agreement: The djustment is set to take effect from November 1, 2022, and will span a period of five years. According to the agreement, the wage revision will result in a total expenditure of Rs 12,449 crore for all public sector banks, including the State Bank of India (SBI).
How to negotiate and get an above-average salary hike in your next appraisal
What is the ideal way of looking at performance appraisal, and the increment and promotion cycles? ET Wealth spoke to experts across the spectrum to put together guidelines to navigate the performance appraisal season and stay ahead of the game.
Salary hike during appraisal: How much increment will you get next year? Check here
The annual increment is important for most salaried individuals. How big will be your increment next year? Take this test to find out. The more honest you are with your responses, the more accurate the result will be.
Why leadership is all about using negotiations effectively
Experts say we are always negotiating in life. “Aren’t we all negotiating all the time?” asks Ranjini Chakraborty, People Leader with Giesecke + Devrient Mobile Security India PvT Ltd. “From a child, homemaker, retail vendor, team member, client et al. In each role, the skill of negotiation comes to play for a desired outcome.”
IT pays? Now not much higher for the new hire
This fiscal, software firms are offering hikes of 18-22% to those jumping jobs, while earlier, such candidates would command an increase of over 40% — even up to 100-120% — in remuneration, according to data from staffing firms accessed by ET.
How to negotiate a better compensation package: Beyond salary
Many companies now offer hybrid work models, allowing employees to work a few days from home. Negotiate for 2 or 3 days of remote work.
Smart ways to handle salary negotiations
Negotiating salary is a crucial part of career progression, but many employees fail to do so simply because they are too scared to put forward their opinion. It is essential to do thorough market research and propose a salary range, rather than a specific amount, to allow for flexibility and room for negotiations.
Effective ways to negotiate your salary
Do thorough market research to understand the current salary trends for your desired position.
Coming back from a career break? Here's how you should negotiate your salary
Returning to work after a break requires negotiating for the rightful pay while showing interest in the job. To negotiate the right role, level, and salary, one must understand the company, the role, and the structure thoroughly. It is crucial to have a limit in mind while negotiating for a reduced salary. Other aspects should also be considered, such as the excitement of the role itself, learning provided, insurance and healthcare benefits, leave policy, variable pay, ESOP eligibility, mid-cycle revision, and signing bonus.
Don't wait for yearly appraisals. Recruiter, who worked with LinkedIn, Microsoft & Meta, reveals dos & don'ts for increment talk
Not sure how to initiate the conversation with your manager? Sweat not, here's your step-by-step guide.
Five tips for women to negotiate a higher salary
Some of the gender pay gap can be attributed to differences in how women negotiate. Here are five tips that you can start applying today to be more effective in your workplace negotiations. These strategies benefit women but represent best practices for anyone seeking higher pay regardless of where they identify on the gender spectrum.
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