How Much Salary Can I Ask for a New Job Based on My Experience?

Transitioning to a new job is a significant event in one's professional life. Your current CTC (Cost to Company) of 13 LPA (Lakhs Per Annum) and 13 years of experience can command a noticeable salary in the new role. However, the exact amount you can ask for depends on various factors. Let's explore these factors and provide guidance on how to approach your negotiation.

Factors Influencing Your New Salary

Salary negotiation is a complex process influenced by a variety of factors. Here are the key elements to consider:

Niche Skillset

If your skill set is niche, there is a higher demand for your specialized knowledge. In such cases, you might be able to command a higher salary. As an expert in your niche, you likely have unique abilities that are not easily replaceable. Therefore, you can confidently ask for a salary significantly higher than the standard market rate.

Previous Job Switch Interval

The timing of your last job switch also plays a crucial role. If you have been working for more than 5 years at your previous job, and you are still earning 13 LPA, you can make a compelling case to negotiate for a higher salary. The industry standard for a base salary after a decent period (more than 3 years) in a previous job is often around 30 LPA. However, if it has been more than 5 years, you can push for a salary closer to 26 LPA.

Industry Average

The industry standard for a non-niche position is typically around 30 LPA. This figure serves as a benchmark for compensation based on the standard industry practices and the average salary your counterparts are earning. This can help you understand the typical salary range for a similar position in your industry.

Desperation and Negotiation Skills

Ultimately, the salary you can command depends on how desperately the company needs you and your negotiation skills. If the company is actively looking to hire someone with your experience and capability, they might be willing to offer a higher salary to secure your services. Additionally, your negotiation skills can play a significant role. Skilled negotiation can often help you achieve a salary that is more in line with your value and experience.

Preparing for Salary Negotiation

To increase your chances of successfully negotiating a higher salary, you need to prepare thoroughly. Here are some steps to follow:

Research the Market

Thoroughly research the current market rates for similar positions. Use resources such as , LinkedIn, and Payscale to gather data on salaries. This information will help you form a reasonable salary expectation and bolster your negotiation stance.

Highlight Your Achievements

Prepare a list of your achievements and contributions at your current job. This can include quantifiable success stories, such as cost savings, new revenue streams, or key projects completed. Highlighting these achievements can make a significant impact on your negotiation.

Pace the Conversation

During the negotiation, pace the conversation by staying calm and composed. This can help you stay in control of the discussion and make informed decisions. Remember, it's okay to take a break if you need more time to consider a counteroffer.

Conclusion

Your current CTC of 13 LPA and 13 years of experience are valuable assets. However, understanding the various factors that influence salary and preparing well for the negotiation process can significantly enhance your chances of securing the salary you deserve. By researching the market, highlighting your achievements, and leveraging your negotiation skills, you can achieve a fair and reasonable salary for your next role.