We are back with another installment of our Ask Our Recruiters series. Today’s question seems to come up a lot, so we asked Erika to answer Matt’s question and hopefully you all find it helpful!
This is a great question we all have asked ourselves at one time or another in our personal job searches. Money is obviously an important factor to consider when taking on a new role, but can be an uncomfortable topic to discuss within the interview process. Here are some tips that will help you prepare, select, and interview for those positions that meet your ideals and provide you with your next step in your career:
1. Speak to your recruiter about your current compensation package. Have you had an increase in the last year? What is your bonus potential? What is your next step there? What is the salary you need to make a move to a new organization?
2. Find out your market value: Indeed.com has an excellent “average salary” guide by geographic region. Remember, this is a “guesstimate”, as each company is different. Find out more about the company you are interviewing with, and see what the retention rate is. You can also ask your recruiter about previous year bonuses or review programs there. Does your salary range work with their budget?
3. Review your current compensation package versus what your ideal salary is. Is it attainable and realistic to that industry and your level of experience?
4. Be honest, yet humble in the interview. Your audience can be quickly turned off by answering the salary question that is out of their range. Your recruiter can convey your agreed upon salary expectations in the submission process.
5. Communicate any new information you learn about the position in the interview process like direct reports, travel, or additional responsibilities not in the original job specs. You can then take these factors in to consideration if you need to adjust your minimum.