CTC Vs VFM
“Never Ask a Woman Her Age & A Man His Salary”
This Quote you have definitely heard in your lifetime I have tried to google whose quote is it, but I couldn’t find if you know or find please do share with me.
Today if we do Poll on Social Media & asked how many people are feel that they are being underpaid? More than 90% will agree with the statement.
And if you'll do another survey & ask how many People are willing to share their CTC? More than 90% People will say No to that.
Than what is Solution to this Problem.
CTC V/s VFM.
We all know that CTC is Cost to Company & VFM is Value for Money that means being paid for What Value you bring in Organization.
It is very easy to blame HR create corporate jokes & Memes about the same for offering Lower CTC including myself. I have blamed one of my Good Friend for very long period of time who has Negotiated with me & i joined Organization with Lesser pay which i came to know at later stage of my Career.
But we need to understand 2 Points here.
They are not forcing us to join Organization on Gun Point , we are the one who are accepting the offer. They are just doing their Job.
2. If you came to know that you are being underpaid & your are still continuing without discussing with your Superior, HR or Management than it is your fault & has nothing to do with Organization.
And this is where VFM comes into picture. If company is thinking about CTC we must think about VFM without any guilt.
Understanding your Value.
Understanding your Value which is very very important & I feel this is where we all make mistakes.
To make it simpler I’ll share one of my favorite Quote
“The problem with the world is that the intelligent people are full of doubts, while the stupid ones are full of confidence.”
- Charles Bukowski
I hope this will clear we all have seen people who are overestimating themselves & on the opposite side people who are underestimating their capabilities. So we should know our worth & ask accordingly.
So what we should do?
First of all never shy away for asking money what you Deserved, because somehow most of us are conditioned in such a way we feel uncomfortable asking for money what we feel we should get & in the end we settled for what Company wanted to give us.
How do we know our Value?
We must take rational approach.
Be open about your CTC, No I am not telling you to share your Salary details to any random Person but asking you to share with someone whom you can trust be open with him/her & tried to understand your Value & than you will come to what is your Actual Value & whether you are earning less or more than what you deserved which will help you at your next appraisal or Negotiation for Next Company.
Full Disclaimer here i am not at all asking you to leave Job if you feel you are underpaid. If Work Culture & Career Growth is there for instead of changing Job, you should always discuss with HR, openly & firmly.
Few Tools which may help you to determine your Values are as follows.
Most easiest way is to take help of Online Job portal sites where you can easily see how much other Companies are willing to offer for similar Work profile like yours & based on that you can decide.
Discuss with your Mentor or person whom you can Trust.
Most common practice Employees do is give Interview to competitors & based on their Offer discussed with current Organization ( I am just mentioning Practices & not recommending to do so.)
This should help to understand your VFM & help to go get paid what you deserves.