How do I get a 500% Salary hike as a software developer?

How do I get a 500% Salary hike as a software developer?

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Hello folks 👋, Today I share my experience about how I achieved a massive salary hike of 500% from the current CTC. Let's talk about details and things you have to consider when negotiating salary. The thing you have to keep in mind while applying for any role.

I have applied to more than 200 companies and got genuine replies from 18 to 20 companies. Out of that 12 - 13 companies have taken interviews. After Interviewing at these companies I got my first offer and I got almost doubled of current salary for that role. After that, I interviewed at remaining companies including Qualcomm, Oracle, Motorola, Vimeo & Gartner. Out of which I cleared 6 interviews but got only 4 offers, which is almost 4 times my current compensation but after negotiation, I got an offer which is 500% of my current CTC.

Now, the interesting part comes! When you'll apply for a job and if company HR will call you for a role discussion they often ask you about your skills, projects you are working on, and your current CTC & the most important question is how much salary you want for this role? If they ask about your current CTC, never tell them your current CTC. Just ask them what is the salary range for this role. They never share this info with any candidate, rather they tell you that it depends on your skill & interview.

If they ask about your current compensation, you have to tell them that it's confidential and I don't want to disclose this information until I get an offer from your company. If you share this data with HR you never get your desired salary. They just give you a 15% to 20% hike. And it totally depends on the company you've applied to. If they ask you a range then just tell them that "I'm looking for a 40% to 50% hike" or whatever you feel appropriate.

Now, if you got a very first offer & it suits your need, it's good. But if you are waiting for other companies after interviewing then use your first offer for negotiation. If it's a very good company then it does not matter how much your current CTC is, they'll give you a very good package according to their company & market standards and if you are not satisfied then negotiate it based on your first offer.

While negotiating salary, search about salary range in any company for a particular role in your region using LinkedIn, Glassdoor, Ambitionbox, etc. Now you got an idea and negotiate your salary with HR but you have to be flexible while negotiating. If you want 80k/yr then tell HR that "I'm looking for 85k to 90k according to market standards & the role I've applied".

If they ask you "it's negotiable" then tell them "I'm ready for negotiation". So that they understand that you are ready to work with them & they give you an offer. If you are not ready to negotiate & if the company doesn't have a budget you are asking for, they declined your offer. so be careful about that.

You likely get your desired package or the same figure you had told while discussing. Good companies give you a very good compensation & they do not care about your previous CTC. but some companies take advantage of it, they only give you a 10 to 20% hike & tell you that it's the maximum we can offer. So beware of this situation. After getting 2 or 3 offers you only have to join one company, so you have to reply to other companies that you don't want to accept their offer. And reply in a positive way so that in the future if you want to apply for that company they'll consider you. For example "Thanks for the offer but it doesn't meet expectations or needs. I really appreciate you for this opportunity" or something like that in a positive way. Give a genuine reason why you haven't accepted their offer and make a connection with HR so that in the future if you want to apply to that company they'll help you.

If you have any questions feel free to ask me in the comment section and don't for forgot to like if you find this post helpful.