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"What is your current salary?" - thinking about this questio

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BillyB
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Postby BillyB » Thu, 21 Mar 2013 6:20 pm

Sergei82 wrote:
Wd40 wrote:My colleague gets paid $5600 a month and the per day billing rate applied across the working days of a month came out to be about $10,000 :o :o :o

Doubt that. Who will like to feed vendors that much for nothing? Its not the vendors doing work in the bank, isn't it?


You'd be surprised at the mark-up for people arbitrage!

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Re: "What is your current salary?" - thinking abou

Postby x9200 » Thu, 21 Mar 2013 6:40 pm

Sergei82 wrote:Who in the hell will be interested to disclose his current salary [..]

I do it from time to time. It saves both parties embarrassments and some time :)

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Re: "What is your current salary?" - thinking abou

Postby Sergei82 » Thu, 21 Mar 2013 7:45 pm

x9200 wrote:
Sergei82 wrote:Who in the hell will be interested to disclose his current salary [..]

I do it from time to time. It saves both parties embarrassments and some time :)

Disclosing the budget for the position equally saves time and embarrassments, isn't it? :)

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Postby Brah » Thu, 21 Mar 2013 9:14 pm

I decline answering that question and reply by asking what the range for the job is, then ask how fixed that is. I tel them I'm happy to discuss salary once I've met the company, which means I've already read the JD, know which company it is for, and actually have interest in it to begin with.

I don't tell just anybody my salary, that info goes into databases and people in those firms come and go.

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Postby Strong Eagle » Thu, 21 Mar 2013 9:30 pm

Sergei82 wrote:
Wd40 wrote:My colleague gets paid $5600 a month and the per day billing rate applied across the working days of a month came out to be about $10,000 :o :o :o

Doubt that. Who will like to feed vendors that much for nothing? Its not the vendors doing work in the bank, isn't it?


Actually, that's about right... maybe even a bit low for professional types.

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Postby Sergei82 » Fri, 22 Mar 2013 11:00 am

Strong Eagle wrote:
Sergei82 wrote:
Wd40 wrote:My colleague gets paid $5600 a month and the per day billing rate applied across the working days of a month came out to be about $10,000 :o :o :o

Doubt that. Who will like to feed vendors that much for nothing? Its not the vendors doing work in the bank, isn't it?


Actually, that's about right... maybe even a bit low for professional types.

So what is the rational? You don't care about motivation and quality of work that folows demotivation. You can pay more, but as long as it is coming from another part of the budget, financial statements for your department look good and you're happy? Was it one of the factors contributing to recent decline in banks?
Why then our bank hires in Pune and Bangalore mostly on vendor's payroll? Cheaper locations anyway. Is it finance/accounting gambling?

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Postby the lynx » Fri, 22 Mar 2013 11:06 am


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Postby Strong Eagle » Fri, 22 Mar 2013 11:12 am

Sergei82 wrote:
Strong Eagle wrote:
Sergei82 wrote:
Wd40 wrote:My colleague gets paid $5600 a month and the per day billing rate applied across the working days of a month came out to be about $10,000 :o :o :o

Doubt that. Who will like to feed vendors that much for nothing? Its not the vendors doing work in the bank, isn't it?


Actually, that's about right... maybe even a bit low for professional types.

So what is the rational? You don't care about motivation and quality of work that folows demotivation. You can pay more, but as long as it is coming from another part of the budget, financial statements for your department look good and you're happy? Was it one of the factors contributing to recent decline in banks?
Why then our bank hires in Pune and Bangalore mostly on vendor's payroll? Cheaper locations anyway. Is it finance/accounting gambling?


Nobody ever got fired for hiring IBM, or HP, or Accenture. All of these companies have overhead. Even as a small company, I can't do 25 percent markup... I absorb all the paperwork, the payment risk. I handle taxes, I bill the client and pay the employee/contractor. 50 to 75 percent of gross payroll costs is the normal markup for small firms, and I've seen far larger multiples for the big firms. How about $100 per hour for Indian programmers brought over on H1B visas who were earning $139 per day? Whatever the dumbasses will buy is what you sell.

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Postby Sergei82 » Fri, 22 Mar 2013 11:46 am

Strong Eagle, so how do you prefer to filter out suitable candidates: by asking them how much do they earn, asking them how much do they want to earn, or buy telling them the budget for the position? :)

Any arguments for or against these approaches?

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Postby Wd40 » Fri, 22 Mar 2013 4:55 pm

As a business, your goal is to maximize profits but on a sustainable basis.
Now suppose your budget to pay a candidate is 6k, you call up a candidate and then ask him his salary and 3 situations are possible
a) candidate is currently earning 3.5k. Now market trend for hikes is say 10-15% so you would be crazy to offer the candidate 6k. Rather you would try to pay 5k and keep the 1k as additional profit and this could then be given to another stubborn candidate who is hell bent on joining at only 7k. So net net your profits are still same.

b) candidate is currently earning 5.2k. In this case you will have to expend your full budget of 6k

c) candidate is currently earning 6.5k. There is no point even talking to this person anymore.

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Postby ecureilx » Fri, 22 Mar 2013 5:04 pm

Wd40 wrote:As a business, your goal is to maximize profits but on a sustainable basis.
Now suppose your budget to pay a candidate is 6k, you call up a candidate and then ask him his salary and 3 situations are possible
a) candidate is currently earning 3.5k. Now market trend for hikes is say 10-15% so you would be crazy to offer the candidate 6k. Rather you would try to pay 5k and keep the 1k as additional profit and this could then be given to another stubborn candidate who is hell bent on joining at only 7k. So net net your profits are still same.

b) candidate is currently earning 5.2k. In this case you will have to expend your full budget of 6k

c) candidate is currently earning 6.5k. There is no point even talking to this person anymore.


And that is from the point of the consultant or end employer ?? :D

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Postby Sergei82 » Fri, 22 Mar 2013 5:18 pm

Wd40 wrote:As a business, your goal is to maximize profits but on a sustainable basis.
Now suppose your budget to pay a candidate is 6k, you call up a candidate and then ask him his salary and 3 situations are possible
a) candidate is currently earning 3.5k. Now market trend for hikes is say 10-15% so you would be crazy to offer the candidate 6k. Rather you would try to pay 5k and keep the 1k as additional profit and this could then be given to another stubborn candidate who is hell bent on joining at only 7k. So net net your profits are still same.

b) candidate is currently earning 5.2k. In this case you will have to expend your full budget of 6k

c) candidate is currently earning 6.5k. There is no point even talking to this person anymore.

Well... we all know this logic. The question is - why would I help this guy to calculate his expenses? I have my own concerns: I need more money, by not disclosing my salary I have an opportunity to go up way beyond market trend. I do not give damn who is crazy over there.
Once my own concerns are resolved, I am ready to help other people, struggle for the sake of the whole humanity, galaxy and universe. But not before that!

Am I saying nonsense???

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Postby ecureilx » Fri, 22 Mar 2013 5:23 pm

Sergei82 wrote:....


From my experience, the thing is .. if you don't state your current, most agents don't know how to go about it, and tend to discard your resume ..

Does anybody here say otherwise ?

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Postby Sergei82 » Fri, 22 Mar 2013 5:35 pm

ecureilx wrote:
Sergei82 wrote:....


From my experience, the thing is .. if you don't state your current, most agents don't know how to go about it, and tend to discard your resume ..

Does anybody here say otherwise ?

Yes, they can. Here, in Singapore. Only the dumbest recruiters. Fortunately, my niche is quite narrow - not a huge lot of specialists. If there is some opening, several recruiters contact me at a time. I really can and am willing to help them by disclosing how much do I want to earn. Whether it is too much for me it is not their animal concern, it is concern of the company which has the opening. :)
What a hell? Recruiters want higher commission, isn't it? Unless those are vampire vendors!

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Postby sundaymorningstaple » Fri, 22 Mar 2013 5:51 pm

IF they didn't want higher commissions, they wouldn't be recruiters. It's not a charitable institution where people just donate their time to helping others find jobs. :???:


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