How do you answer what is your current compensation?

A simple example response could be, “I’m seeking a position with a base salary of $45,000 to $55,000.” Another example would be, “I’m looking for a base salary roughly between $90,000 and $95,000 annually.

What is your current total compensation ?*?

Total Compensation = Base Salary + Incentive Compensation. Total compensation can also be used to describe the total value an organization offers employees. For example, this might include job perks that have a monetary value, as well as the benefits provided by the employer.

What is your current compensation for fresher?

How much does a Fresher make? The national average salary for a Fresher is ₹20,322 in India.

What do I put for compensation?

When answering desired salary or expected salary questions on an application, the best approach is to write in “negotiable” or keep the field blank. If a numerical response is required, enter “000” and in a notes section, mention that salary is negotiable based on further understanding of the position.

What do u mean by compensation?

Typically, compensation refers to monetary payment given to an individual in exchange for their services. In the workplace, compensation is what is earned by employees. It includes salary or wages in addition to commission and any incentives or perks that come with the given employee’s position.

How do you answer total compensation questions?

How to answer “What are your total compensation expectations?”
  1. Research the industry and geographic area. …
  2. Emphasize your flexibility. …
  3. State a range rather than a fixed amount. …
  4. Consider offering high compensation. …
  5. Be honest. …
  6. Focus on why you expect the amount. …
  7. Prepare for price negotiation.

What is your current notice period?

The notice period is the time period between the receipt of the letter of dismissal and the end of the last working day. This time period has to be given to an employee by his employer before his employment ends.

What is compensation give example?

Compensation consists of a combination of an employee’s pay, vacation, health insurance, and bonuses. It also includes other perks, such as a company car, free parking, free or cheap meals, commuting costs, etc.

What are the 4 types of compensation?

Basic Pay 2. Dearness or Cost of Living Allowance 3. Incentive Payments 4. Performance-Based Remuneration 5.

How important is compensation?

Compensation is a vital part of human resource management, which helps in encouraging the employees and improving organizational effectiveness. … Compensation packages with good pay and advantages can help attract and retain the best employees.

What is compensation in the workplace?

Compensation refers to a reward paid to an employee for the work they do for an organization. When an employee works for an organization, they are paid back in terms of money, perks such as free food, unlimited vacation time, great healthcare, bonuses, etc. for their time and talent.

What are the 3 types of compensation?

Different types of compensation include:
  • Base Pay.
  • Commissions.
  • Overtime Pay.
  • Bonuses, Profit Sharing, Merit Pay.
  • Stock Options.
  • Travel/Meal/Housing Allowance.
  • Benefits including: dental, insurance, medical, vacation, leaves, retirement, taxes…

What are examples of direct compensation?

These include meals, commissions, mobile phone expenses, travel expenses, club memberships, insurance, reduced interest loans, and more. Other direct compensation options include incentive pay linked to exceptional performance and occasional bonuses for special occasions.