How much your salary expectation should be?
Figuring out what salary to ask for, may be quite a struggle whether you are hoping to negotiate a particular salary in a new job, or looking for a pay rise in your current one.
Giving a value that is too high may give the impression you lack knowledge in the job you are applying for and asking for a low figure can lead to you missing out on money. When trying to establish an appropriate figure, you must work out what you are worth as an employee first. Salaries are based upon different factors such as location, your skill level and experience, therefore, you can expect to see differences in pay based upon individuals. Once you determine your worth, you can then have a better idea of what salary you deserve.
Research and Networking
To start, it is important to do your research. Many job listings will give a salary range of the minimum and maximum wage. Should you make it through to the interview stage, some employers will ask what salary you are expecting. It is good practice to have secure knowledge around this so you are in a strong position when having this discussion with potential employers. You may wish to consult web tools such as online salary calculators and relevant job salary guidelines to get a good idea of value. Please note, we advise these are used as a starting point to help you begin your research. They are useful in providing a rough salary estimate, however, they do not always take into account that job titles can vary vastly depending on the industry. Individual businesses and company size, therefore these web tools shouldn’t be relied upon when it comes to finalising a figure.
Once you have a rough idea of numbers, try networking so you are able to speak to individuals that currently work in the field that you are looking to move to. It is a great way to meet a range of different people and gather lots of information to help clarify a figure that suits the job you are applying for. We understand that discussion of how much one is paid can be a ‘taboo’ topic, therefore try to phrase your questions in a way that does not directly mean the person has to reveal their personal information. For example, you could ask the question “how much do you think an *insert job title* can earn?”
If you are looking to stay within the same company but seeking a pay rise, then do not be afraid to speak to your colleagues. Thanks to the Equality Act 2010, legislation states that you are protected from discipline should you wish to seek information regarding pay disclosure. Furthermore, try being transparent and speaking to your manager directly. Treat it as a constructive conversation where you can ask questions such as how your pay was determined and what steps can be taken to increase it.
During the hiring process, employers will appreciate honesty about your salary goals. Be sure to ask the right questions during interviews and ensure you are satisfied you have all the answers you need. Do not be afraid to ask about benefits such as bonus schemes as these minor details can be a great way to accumulate money to coincide with your salary. In addition, being upfront about your salary goal eliminates ambiguity so both you and the employer know what is expected.
Final Points to Note
Settling on an exact figure may be difficult so you should consider setting yourself a salary range as opposed to a set number. Once you have a range in mind then you can begin to narrow it down to a more precise figure for each individual job application.
A multitude of factors, both internal and external, comes into play when determining a salary. You must be mindful that different companies have different conditions that may affect the wage of your job role, therefore the research part is crucial and sets you up to be realistic when setting a target value.
- Monster – www.monster.co.uk/career-advice/article/salary-calculator
- Pay Scale –www.payscale.com/research/UK/Country=United_Kingdom/Salary Salary.com – https://www.salary.com/
ABL Recruitment team