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Answers to your recent career queries
I am a manager (marketing) with a reputed consumer
durables company. I joined the company as a management
trainee ten years back and have since worked up the
ladder. A colleague of mine was hired a few months back.
Although he's my subordinate and reports to me, he draws
a higher salary. Should I take up this issue with the
head of my department?
Of course, you should talk to the head of your department
- assuming that your information on his salary is correct
and your own overall performance has been satisfactory.
When people are poached from other companies, they are
often offered higher salaries as incentive. You are
well within your rights to speak to your superiors and
your company's HR department about it. However, a word
of caution: you need to go about it keeping in mind
your company's and your own options. Chances are you
will be told to wait till the next increment. Figure
out if you want a specific commitment. If that is not
forthcoming, do you have options or plans of quitting?
These are some of the things you need to consider. But
first, have an informal chat with your boss to get a
clear measure of things before taking any decision.
I am an insurance professional working with a private
life insurance company for the last 5 years. I have
a degree in management from a second rung B-school.
I have also cleared the Associateship examination from
the Insurance Institute of India in anticipation of
better job prospects. Now, with very little happening
in the sector, I am getting anxious. Should I opt for
a part-time degree in management with specialization
in HR and try to change my field or should I stick to
the insurance sector?
Insurance has a bright future in the country. You have
a degree in management from a second-rung B-school and
five years of experience. I have a feeling that you
are getting impatient too soon. With your qualifications
you are well placed to take advantage of a boom in the
sector. Changing your field by doing a part-time course
in HR is not going to put you in the fast lane. May
be you should consider careers closer to insurance like
financial services, banking, and healthcare related
services. Don't go about doing miscellaneous part time
courses and changing tracks impulsively. You will find
yourself spending more time moving horizontally than
vertically. Change careers if you want to, but have
a plan based on your interests, aptitude, qualifications,
skills and experience.
I am a management graduate from IIMA. I received
a pre-placement offer from a reputed consumer durables
company. A few days after I accepted the offer, another
company - to which I had applied earlier - approached
me with an offer. Since I have an offer in hand, should
I negotiate with the second company and see if I can
get a better deal?
Salaries at the management trainee level are usually
standardized and the remuneration across companies and
industries is nearly the same unless, of course, one
has previous work experience. In either case, it is
not good to bargain for a higher salary as this will
send out a wrong message. Chances are that your attempt
to get a better package may backfire. The initial stage
in one's career is crucial and one needs to concentrate
on learning and acquiring skills. Salary is important,
but should not be an over riding criterion. Keep in
mind your long term plans of sector specific specialization
while considering offers from potential employees.
I am an IIT-IIM product with a specialization in
finance. While I head the marketing division of a multinational
company in Delhi, my wife works in Mumbai as an advertising
professional. I wish to relocate to Mumbai and am considering
a switch to finance. Does such a change make sense at
this stage of my career? I have already received an
offer from a financial services firm in Mumbai and have
to make up my mind very soon.
The risk is worth taking. Just make sure that the company
is a reputed and a stable one before you take the final
decision. Given your experience in the marketing field,
you will always have the option of returning if your
new line of work doesn't suit you.
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