business
What is Your Desired Salary? How to Answer Recruitment’s Trickiest Question
What’s your desired salary? It’s a question that will sweat out even the most confident applicant. The question will eventually pop up at one stage or the other during the recruitment process. What you need to do is be strategic about it. If you lowball the number, you will have to settle for less. If you go for the high, you might not be considered anymore. So how do you answer this? Let’s find out.
What is Desired Salary?
A desired salary is pretty much self-explanatory. It refers to the amount you expect in exchange for your service. A desired salary is useful both for the employer and the potential employee. It allows the employer to understand the expectations of the potential recruit and assess whether it fits within their budget or not.
On the other hand, a potential candidate can determine a desired salary based on their experience and skills for a position. However, it is important to research the market rate for similar positions and be prepared to negotiate to reach a mutually satisfactory salary package.
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How to Determine the Appropriate Desired Salary
From the perspective of Bangladesh, the concept of desired salary holds little value in most hiring cases. Unless you are applying for a highly technical position or a mid-career switch, the negotiations hardly work in favor of a candidate. Still, there are several ways to determine the appropriate salary. Here’s how.
Understand the Industry Standards
Research what the industry standard is for the role you’re applying to. Consider location, required skills, and level of experience in this regard. Bdjobs, Chakri, and CareerJet can be good starting points for the research.
Match Your Skills and Experience
Be realistic about where you are skills and experience-wise. For example, if you apply for a position requiring 2-3 years of experience as a fresher, chances are you won’t even make it to the preliminary screening let alone salary negotiations.
Read more: Empower Your Tech Career in 2024: Master These In-Demand Skills for Success
The best approach would be to again research what other companies are paying for your skills and experience level to get an estimate.
Factor in the Benefits
Many organizations offer benefits and perks like commute allowance, mobile allowance, rent subsidy, and high bonuses. Consider all the benefits you will be getting before estimating a number.
Consider Future Growth Potential
Another thing to consider is the future growth potential of the company. In the case of a company with a robust growth and promotion structure, an initial low salary can be offset by long-term career earnings.
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Confidence Group signs MoU with UCB Investment and others for strategic alliance
Confidence Group, UCB Investment Limited, and Prime Bank Investment Limited signed a Memorandum of Understanding (MoU) to revolutionize corporate advisory and equity raising in Bangladesh.
The ceremony, held at The Westin Dhaka on March 18, was attended by industry leaders, including Rezaul Karim and Imran Karim, Chairman and Vice Chairman of Confidence Group respectively, Arif Quadri, Managing Director and CEO of United Commercial Bank, Tanzim Alamgir, Managing Director of UCB Investment Limited, and Syed M Omar Tayub, Managing Director of Prime Bank Investment Limited.
This alliance marks the dawn of a new era, characterized by strategic partnership and mutual growth, said a press release.
At its core lies a shared commitment to harnessing the collective strengths and expertise of the three entities to drive innovation, foster sustainable development, and unlock unprecedented opportunities within Bangladesh's dynamic business landscape.
The strategic alignment between Confidence Group, UCB Investment Limited, and Prime Bank Investment Limited signifies a bold step towards synergizing resources, knowledge, and capabilities to address emerging market demands and propel the nation towards greater economic prosperity.
As stakeholders gear up to embark on this transformative journey, the alliance is poised to redefine industry standards, catalyze growth, and set new benchmarks for excellence in corporate collaboration.
BRAC Bank signs credit guarantee agreement with BB to support women, agri entrepreneurs
BRAC Bank has signed a participation agreement with Bangladesh Bank to avail Credit Guarantee facility to support women and agro-based product processing entrepreneurs.
This facility will support women entrepreneurs in small enterprises, and the agro-processing industry under Bangladesh's refinance scheme.
Selim R.F. Hussain, Managing Director & CEO, BRAC Bank, and Nahid Rahman, Director, Credit Guarantee Department of Bangladesh Bank, signed the agreement at Bangladesh Bank Head Office in Dhaka on March 11.
Nurun Nahar, Deputy Governor; and Mohammad Jamal Uddin, Executive Director, Bangladesh Bank, and Syed Abdul Momen, Deputy Managing Director & Head of SME Banking, BRAC Bank, attended the programme.
The credit guarantee will cover a Tk 3,000 crore refinance scheme for women entrepreneurs and a Tk 1,400 crore refinance scheme for the agro-product processing sector.
This scheme will help women and agro-processing entrepreneurs obtain loans without collateral, said the BRAC Bank.
No Padma Bank employee will lose job: Exim Bank Chairman says after signing merger
Padma Bank has merged with the Sharia-based Exim Bank Plc.
The merger happened on Monday through a formal deal signing at Bangladesh Bank.
The central bank’s Governor Abdur Rauf Talukder and senior officials, officials of the two banks were present at the deal signing ceremony.
This is the first merger of two banks in the country after Bangladesh Bank’s recent initiative to merge weaker banks with sound or strong ones.
Exim Bank Chairman Nazrul Islam Majumdar told UNB that Padma Bank will no longer exist from tomorrow. Due to the merger, the new operations will be carried out under the name of Exim Bank.
“No employees will lose their jobs despite the merger. However, the directors of Padma Bank cannot be on the Board of Directors of Exim Bank. No decision has been made yet regarding the managing directors of the two banks,” he said.
Majumder said, "There was no pressure from the government to merge with Padma Bank, but there was a suggestion from the government. We have done it in the interest of the country, in the interest of the economy.”
Following the merger, depositors and shareholders will not face any issue, he said.
He said, “There are two methods of integration of banks — acquisitions and mergers. We didn't do acquisition, we did a merger.”
Padma Bank, which has about 1200 employees, will work for Exim Bank, sources said.
Padma Bank has defaulted loans of around Tk 4000 crore and the liability of government banks is about Tk 3000 crore with Padma.
In this regard, Exim Bank Chairman said, "Padma has been merged, as a result, all liabilities of Padma Bank have now been taken over by Exim Bank.”
About Shariah-based banks, Nazrul Islam said, “Exim Bank is Shariah-based. Even though Padma Bank is general, since we (Exim) have merged them, they will also be Shariah-based. Every index of Exim Bank is in a good position, hope it will do better.”
Standard Chartered, Apollo Hospitals, Kolkata sign MoU
Standard Chartered Bangladesh signed a Memorandum of Understanding (MoU) with Apollo Multispecialty Hospitals, Kolkata to provide healthcare privileges to clients.
As a part of the agreement, Apollo Hospitals will offer special discounts on health check-up packages, outdoor investigations, and room rent for all Standard Chartered credit and debit cardholders.
Walton brings country’s first 6-star energy rating AC
The MoU was signed recently at Standard Charter Bank’s head office.
Tawfique Imam, head CCPL, Shahreen Alam, head of rewards and Alliances Standard Chartered Bangladesh; Rana Dasgupta, Chief Executive Officer, Eastern Region, Apollo Hospitals Group; M M Masumuzzaman, Managing Director, SEOK, healthcare (Representative of Apollo Multispecialty Hospitals in Dhaka); and other senior officials from both organisations were present at the event.
DSE's tribute to Bangabandhu on his birth anniversary
A delegate of Dhaka Stock Exchange led by Chairman Professor Dr. Hafiz Muhammad Hasan Babu paid tribute by placing wreaths at the portrait of Bangabandhu at Dhanmondi 32.
The board of directors, management authority, and employees of DSE paid tribute on the occasion of the 104th birth anniversary of Father of the Nation Bangabandhu Sheikh Mujibur Rahman, according to a press release.
Brigadier Imran Hamid made independent director of DSE
Bangladesh Securities and Exchange Commission (BSEC) has again appointed Brigadier General M Imran Hamid as an independent director of Dhaka Stock Exchange (DSE), the country's main stock market.
The BSEC in an office order said his appointment for the next 3 years will be effective from March 15.
Brigadier Hamid has just completed his three-year tenure in the post.
BRAC Bank wins Top Ten Remittance Award
Brac Bank has won the Top Ten Remittance Award at the World Conference Series 2024.
This recognition demonstrates BRAC Bank's unwavering commitment to bolstering the economy by simplifying remittance processes for wage earners worldwide, said a press release.
A leader in facilitating inward remittances to Bangladesh, BRAC Bank set a new benchmark by facilitating wage remittances totalling USD 817 million in 2023.
Islami Bank pays tribute to Bangabandhu’s memorial
According to BRAC Bank, this milestone underscores its significant impact on the country's economic stability.
The award was presented at the World Conference Series 2024 grand inauguration ceremony organised by the Centre for Non-Resident Bangladeshi.
The Centre for Non-Resident Bangladeshi handed the award to BRAC Bank, acknowledging its pivotal role in driving economic growth, alleviating poverty, and fostering social development across Bangladesh.
The ceremony was attended by AK Abdul Momen, former Foreign Minister; Mashiur Rahman, Economic Affairs Adviser to the Prime Minister; Shofiqur Rahman Choudhury MP, State Minister for Expatriates' Welfare and Overseas Employment, alongside managing directors and senior executives from various banks held at Pan Pacific Sonargaon, Dhaka on March 10, 2024.
Tareq Refat Ullah Khan, Deputy Managing Director and Head of Corporate Banking at BRAC Bank, and Shahrear Zamil, Head of Remittance and Probashi Banking, received the award on behalf of the bank.
Trade between Bangladesh-India through Hili land port suspended today
This year's World Conference Series, themed 'Branding Bangladesh,' aims to elevate the nation's profile on the global stage, encouraging the Bangladeshi diaspora to increase their investment in the homeland and to utilize formal channels for remittances.
Islami Bank pays tribute to Bangabandhu’s memorial
Islami Bank Bangladesh PLC paid tribute to the Father of the Nation Bangabandhu Sheikh Mujibur Rahman, at his memorial in Dhanmondi 32, marking his birth anniversary and National Children’s Day on Sunday.
Trade between Bangladesh-India through Hili land port suspended today
FCMA Directors, Freedom Fighter Md Joynal Abedin and Mohammed Nasir Uddin and Md Altaf Hossain, Additional Managing Director of the bank placed a floral wreath on behalf of the Bank, according to a press release issued today.
Top executives, officials, and employees of the bank were present on the occasion.
Trade between Bangladesh-India through Hili land port suspended today
Export-import between Bangladesh and India through Dinajpur’s Hili land port remained suspended on Sunday marking the birth anniversary of the Father of the Nation Bangabandhu Sheikh Mujibur Rahman and National Children’s Day.
However, movement of travellers through the land port remains normal.
Harun-Ur-Rashid, president of Hili Land Port Importer-Exporter Group, said trade through the border remained suspended due to the public holiday on the occasion of the birth anniversary of the Father of the Nation.
Trade through the land port will resume from Monday, he said, adding that they informed their Indian partners about the closure through a letter earlier.
SM Haider, assistant manager of the land port’s private operator ‘Panama Hili Port’, said goods from Indian trucks at the port will be unloaded on Monday.
Sheikh Ashraful, Officer-in-Charge (OC) of Hili Immigration Check Post, said although trade between the countries was suspended, traveller movement will remain as usual from 9 am to 6 pm.