SALARY

Annual bonus is paid once in a year. Deferred payment includes pension / provident fund contribution from employer, gratuity, profit sharing etc. Some organizations also offer stock options ( very lucarative scheme in the long term), insurance scheme up to certain amount, medical facilities to the candidate and his dependent family members or allowance in lieu of these facilities for buying certain capital goods or taking these on lease basis, interest, subsidy, etc.

Except stock options, cost of all the items constitute salary package. Since most of the organizations in which scope for salary negotiation exists keep their salary packages confidential, the best way to collect information on salary package is to contact friends and acquaintances who have intimate knowledge of the sector in which the organization where you are attending the interview falls.

Besides researching salary package in general, also try to find out whether differential salary packages are offered by the sector to candidates belonging to certain privileged categories. For example, MBAs from IIMs ( these institutes give PG diplomas in management but in common parlance, it is known as MBA ) and other premier institutes, engineers from IITs and similar other institutions, etc. are offered much higher salary package as compared to candidates coming from other educational institutions. Researching salary package relevant to the sector will enable you to take a more realistic view on salary negotiation.

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