what is your current ctc answer

what is your current ctc answer

what is your current ctc answer

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What is your current CTC?

Current CTC is the money invested on you by your present company (where you are working right now) in terms pay and allowances as mentioned above. Expected CTC is cost to company on you, what you are expecting while either joining a new company or what you are demanding for pay increment to your present company.

What is your current CTC salary per month?

CTC stands for Cost to Company. It refers to the total amount of money an employer spends on the employee annually. So, your current CTC will comprise of the salary as well as all the additional benefits you will receive directly or indirectly during the year. There is a difference between the CTC and take home salary .

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What is CTC in salary with example?

Cost to company ( CTC ) is a term for the total salary package of an employee, used in countries such as India and South Africa. If an employee’s salary is ₹500,000 and the company pays an additional ₹50,000 for their health insurance, the CTC is ₹550,000. Employees may not directly receive the CTC amount.

what is your current ctc answer
what is your current ctc answer

What is your current CTC answer?

When you are asked for historical salary information in an application form, it’s best to leave the field blank or with a ‘0’. Similarly, when you are asked to share your expected CTC or take-home pay, answer the question with a ‘0’ or ‘negotiable’.

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Tips for answering “What is your current CTC?”

The following tips can help you to field the question “What is your current CTC?” during your HR interview round.

Revisit your offer/appraisal letter

Your offer letter/ appraisal letter comes with a complete breakdown of your total CTC. This will give you an insight into the elements and benefits your current company provides and can help you answer “What is your current CTC?” comprehensively.

Thoroughly understand your monthly pay slip

When answering “ What is your current CTC?” it is important to have a clear understanding of your net salary after deductions.

Remember, you will need to submit your salary breakup/ pay slips if you bag the job so fibbing will only land you in trouble.

Avoid lying about your net salary or to any of the HR interview round questions.

Identify the fixed and variable component

Your CTC comprises of various elements, some of which are fixed like your basic HRA, EPF, etc while others are variables such as quarterly/half-yearly/annual bonus, incentives, profit sharing, retention bonus, Rewards & recognition (R&R), etc.

Usually, working professionals don’t pay much attention to the constituents of their salary breakup. This can dampen their chances of leaving a good impression when answering “What is your current CTC?” as it projects them as ill-informed.

Knowing these factors will not only help you negotiate better but will also show that you have an understanding of your salary breakup.

what is your current ctc answer
what is your current ctc answer

Discuss your in-hand salary too

Similar to answering any other HR round interview questions, you must be able to answer “What is your current CTC?” properly.

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You should be able to break down your in-hand salary or net salary along with your gross breakup to be able to give a concrete answer for any follow-up question after “What is your current CTC?”

Tip: Get in touch with your respective HR business partner to understand your CTC breakup when you join a new organization.

This will help you to know your salary package better irrespective of whether or not you have a job interview lined up.

Mention additional perks or incentives, if any

Make sure to mention any additional incentives or perks apart from your net salary and other breakups of your salary. This will give the recruiter an idea of what you receive and what you’ll be expecting from the company.

“What is your current CTC?” may seem easier to answer than the rest of the HR round interview questions. However, do not take it too lightly as it can still affect your chance of bagging the job.

 

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