Early on in a job candidacy, you’ll likely be asked what you’re required salary or job rate is. This can make some candidates uncomfortable as some people don’t like discussing money. Others find the process of negotiations thrilling.
No matter how you view the process, you might not know how to answer the dreaded question. You want to be fair, but you also want to be compensated for the work you do. Here’s a look at how to know how much salary to ask for.
Make salary a discussion
You can discuss with the hiring manager what’s reasonable. While this isn’t a widely accepted practice, there’s no harm in saying you’re open to negotiations. Some applications may require that you put a salary range in the field, which means you’ll still need to know the average salary for a position.
The best way to truly understand salary requirements is to work with a recruiter, who can help you not only understand the salary but will also help you negotiate to get what you want. Before you meet with a recruiter, you can also do some of your own research by looking at websites that focus on salary, including glassdoor.com and salary.com.
Match your job rate to your experience
Your experience should be your guide when it comes to salary negotiations. This means you shouldn’t automatically choose the top end of a salary bracket. Instead, once you see a range for your area and job title, evaluate your level of experience and education and choose a number accordingly.
If you’re at the top of end of a salary, there’s no room to grow. This can be concerning to a hiring manager because it indicates a shorter-term relationship since you’ll outgrow the position quickly. Having room to grow in a salary is beneficial to you and the employer. It also might make you more attractive than other candidates if you aren’t the most expensive person being interviewed.
Find a mentor
This has many benefits outside of knowing your worth. A mentor who has been through similar steps in a career can help you understand your worth and guide you in how to negotiate a fair salary.
Additionally, a mentor is a great person to do a mock interview with so that you can be prepared for the tough questions. This includes how to answer the salary question with confidence and fairness.
Ask your coworkers
This isn’t applicable for everyone because some people are very tight lipped about their compensation. You also don’t want to ask people you don’t have a relationship with so be careful using this tool.
While this can be a very awkward conversation if you don’t know them well, it can also offer some great insight. Many states have made it illegal for companies to penalize employees for discussing their pay.
The easiest way to know your worth is to talk to an expert. The Goodkind Group has been helping candidates find the right position and negotiate their salary for nearly 30 years. Contact us to see find out more about how we can help.