I have a unique solution tried and tested over a long period.I ask the candidates to work out their requirements as follows:
-- SPECIMAN
Expense head | Per day Rs | Per month(30 days) Rs |
Food/day | 400 | 12000 |
Commutation/day to and fro apx 40 km by two wheeler or company transport bill -25 working days | 120 | 3000 |
PG accommodation/month |
| 3000 |
Toiletries/month |
| 300 |
Clothing/year: 2 shirts-2000 Two pants-4000 Inner wear-1000 Shoes and socks-2000
|
| 750 |
Medical expanses |
| 500 |
Loan repayment: Vehicle: 500 Education:500 |
| 1000 |
Charity/religious expenses |
| 100 |
Vacation expenses; Twice/year @ Rs 6000 |
| 500 |
Total |
| 21150 |
Savings @20% |
| 4230 |
Net |
| 25380 |
A MBA student from a tier two college at the entry level attracts this type of salary and perhaps upto 30k/month in tier two and three companies that come for campus placements. Of course there are exceptions wherein the pay may go up to 50k in tier 1 companies( who come to only reputed colleges) depending on the merits of the candidate as well.
I advise the candidate to simply produce this type of a statement when the question is asked and in all cases so far the recruiters have appreciated that the candidate knows what he wants.
The above working is only prescriptive subject to change as per individual requirements.
We must advise the candidates to avoid emotional responses.
Regards
Dr.B.N. Balaji Singh
On Fri, May 6, 2016 at 9:27 AM, Prof. Bholanath Dutta <bnath.dutta@gmail.com> wrote:
--Sometimes, this is the most difficult question for the students in interview so for the faculty changing jobd for better opportunities.......We know there are many ways to address the question like 15-20% hike on the last salary [Based on Marketing Correction], instead of quoting a figure give a band, as per existing norms, few ask for joining bonus etc...Would love to hear some more views on the subject....--It would be useful for many of us.EDUCATE, EMPOWER, ELEVATEProf. Bholanath DuttaFounder & PresidentMTC Global: An Apex Global Advisory Bodyin Management Education, ISO 9001: 2008Partner: UN Global Compact I UN Academic ImpactCell: +91 96323 18178 / +91 9964660759
The views expressed are individual and not necessarily MTC Global also share the same views.
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