Importance of Current Salary

1. Importance of Current Salary

2. Significance of Current Salary Generally, the last drawn salary means your previous monthly gross salary (undeducted for Taxes and other deductions). It is the gross salary as per your last salary slip. It includes everything as per the salary slip. Many employers request the previous drawn salary before getting approval for the hire. This will justify the proposed offer and is often a part of the hiring process. Knowing your last drawn salary package makes the employer aware of your earnings. Suppose their offer (even ones they think are market values) cannot match your latest salary. It is mutually beneficial to all parties to stop the recruitment process sooner rather than later. So they can decide to continue or not.

3. Why is the Question about Current SalaryAsked? • Are you within their budget? • . Gives them an indication about how capable you are? • Negotiations • . To know your expectations • To check if they can afford you.

4. How to Answer the Question about current salary • Do market research. • Tell them the truth. • You can inquire about the reason behind asking this question. • While giving answers online/form.

5. Examples of how to answer when you don’t want to share the salary information:- My employer considers employee salaries confidential, and access to this information is limited to management inside our organization. So, I am unable to share it with you. However, if you share the salary level and range for this position, I can confirm whether my salary is within that range or not. I would rather not discuss my current salary, as it is irrelevant to your role or market. If you wish to discuss salary ranges for your role eventually, I am open to negotiation. At my current organization, it’s confidential information. But we can discuss the salary range for this job and can negotiate. I would also like to know your budget for this job role.

6. Examples to share your salary details:- My current salary is XXXXX. I feel like the responsibilities of this role are more significant than my current job. While I am ready for this role, I also hope to be compensated accordingly. Of course, we can discuss these details at a later time. Where I am working, my current salary is XXXXX. But I am not so satisfied with that salary. I am looking for a good opportunity where I can grow my skills also and also I can get a better salary. Hello sir, currently, XXXXX is my salary, but after deductions, my in-hand salary is XXXXX. Also, I am somewhere unsatisfied with my current salary, so I am looking for a job where I can work passionately and earn some extra money.

7. Conclusion What is your salary? Or what were you paid in your last job? This is an important question, and when you go for an interview somewhere, you are asked this question. How you answer this question shows how ready you are for the job. Revealing your current salary can affect your starting salary in another company. Asking for someone’s current salary is an inappropriate question, but still, it’s a part of the hiring process for many companies as they hope to negotiate based on it. While talking about the salary, which is the last and most important part of a hiring process, you should not ask too much about it. You should be clear about your expectations. If that job deserves that amount of money, the company will provide that to you, but asking for more than your current salary is not suitable for your interview. So the bottom line is that while giving your salary information, provide the answers honestly and tell them your current salary. You can negotiate with the employer for salary, but it shows your personality and top performance skills while giving the answers.

8. Thank you for Watching! Read this blog to know more Information :-https://www.hirect.in/blog/how-to-answer-questions-about-current-salary-during-a-job-interview/