“So, what is your CTC expectation?”
This is one of the few questions that make every interviewee scratch their head in an interview.
Confused much?
In this blog, we will talk about a one-of-a-kind feature that will help solve your dilemma and give you an upper hand while negotiating salary.
It’s none other than the Salary Calculator feature which jobseekers can come across on AmbitionBox.
Why is it important you ask?
Here is why!
1. Helps to break down the salary components
So, first things first, let’s address how this feature works. It’s really easy to use, making it even more favorable for a user.
Take for example, Mr A has been offered the post of a Software Engineer in X company. Similar to other interviewees, he is also in a dilemma regarding the salary breakup and what will be his in-hand salary.
After all, it can seem complex to many. Worry no more.
Follow these steps to get all your answers Mr A!
Step 1: Click on the feature ‘Salary Calculator’ once you have landed on AmbitionBox’s website.
Step 2: Fill in the slots for ‘Company Name’, ‘Designation’, ‘Annual CTC’, and ‘Years of Experience’.
Step 3: Choose the tax regime and whether or not you live in a metro city and click on calculate.
Bazinga! You have a complete breakdown of your salary, giving you clarity on your take-home amount and everything.
2. Helps in salary negotiation
It is only natural to feel inquisitive of what the other companies in the market are offering for the same position and of the same year of experience.
Let’s continue with the example of Mr A from the above-mentioned point.
So, with the help of AmbitionBox’s Salary Calculator, Mr A now has clarity on his salary breakup. But he also wants to know how much the competing companies are paying to a Software Engineer of the same work experience as his.
AmbitionBox has the answers ready for you. On scrolling down on the same page, Mr A will find the detailed breakup of his offered CTC and on the right-hand side, he will find the compared salary rates of the other companies.
This is how it will look like.
Based on these comparisons, Mr A can make a sound decision regarding choosing a job.
Also, Mr A can check the bandwidth of the salary offered by X company from the Salaries section on AmbitionBox.
This can further help him to negotiate in a better manner as he will be well informed.
To add on, a comparative analysis of the salary offered by other companies can also help Mr A tally his salary package as per salaries offered in the market.
This knowledge can help Mr A negotiate a better salary package in his other interviews.
4. Helps get clarity on tax deduction based on salary
Many people still struggle with taxes. The Government of India has now provided citizens with a new tax regime in its Budget 2020.
This leaves the working professionals with the option of choosing from either the Old Tax Regime or New Tax Regime.
The user can fill in the details as mentioned in the first point and simply choose either of the tax regimes. Based on your choice, the Salary Calculator will give you the salary break up accordingly.
It looks like this.
The best part about the salary calculator is that it provides you with a detailed breakup of in-hand, EPF, Medical, and other tax deductions in a single place.
Do you know how Gratuity is calculated? AmbitionBox breaks it down as Gratuity = (Basic salary + Dearness allowance) × 15/26 × No. of Years of Service.
Similarly, AmbitionBox has a series of such formulas to help you understand the calculations. This is easily available in the FAQ section of the page.
So, you can play around with your options better to make a sound decision. After all, you wouldn’t want to feel underpaid.
Don’t forget to check out AmbitionBox’s Salary Calculator the next time you have an interview lined up and negotiate like a pro!
Need more help and expert tips to make an amazing salary negotiation in your next interview?
Read 5 Hacks to Get a Higher Salary Package at Any Company to know more.
