🎧 Smarter Career And Business Moves Podcast

Show Me The Money - How To Answer The "Salary" Question

July 11, 2020 Annette Richmond, MA, Executive Resume Writer Season 1 Episode 10
🎧 Smarter Career And Business Moves Podcast
Show Me The Money - How To Answer The "Salary" Question
Show Notes Transcript

Most job seekers dread talking to recruiters and employers about salary. In many states it’s illegal to ask candidates about their current salary. But that doesn’t mean you can’t be asked about your expectations.

 The truth is, you can’t completely dodge the salary question.

But, to some degree you can control it. You do this by understanding the process and being prepared. 

This episode covers 3 areas: why recruiters as about your salary, possible ways to respond, and how to determine a salary range. ***

#1 Why do recruiters ask about your salary?

As a former recruiter, I know they don’t ask your salary requirements to put you on the spot. Recruiters ask about your salary because each job has a predetermined salary range which has been provided by the hiring manager and/or human resources.

Experienced recruiters know that salaries at the higher end of the spectrum will go to the most desirable candidates, those who have everything they are looking for, and salaries at the lower end will go to those with fewer skills or less experience.

(To learn more about how recruiters work listen to Episode #5 Former Recruiter Shares How Recruiters Work and How They Can (And Cannot) Help You)

#2 How should you respond to questions about salary?

If you want to be considered for the position you need to prepare an answer for salary questions. 

Some states have passed laws prohibiting employers from asking job applicants about their salary history. As of June 2, 2020, 19 states have enacted salary history bans, according to HRDIVE. (Check your state on HRDIVE’s running list of salary history bans.)

But that doesn’t mean there will be no salary questions. Recruiters and employers can ask you about your expectations. There are a few ways you can answer. Always remember that the highest salary in that range will go to a candidate who meets most if not all the requirements. 

#3 How to you decide on a salary range?

Research, research, research. The best way to be ready for the dreaded salary question is to prepare in advance. There is plenty of information readily available.

One of the easiest ways to find out salary information is online. A few of them are 

Salary.com, Payscale.com, Bureau of Labor and Statistics (Wage Data by Area and Occupation), and The Occupational Outlook Handbook (Earnings)

After your research get additional information by talking to people either familiar with or working in your target position. 

Remember that compensation is more than just salary. It’s also benefits like health insurance, vacation and sick time (Paid Time Off), tuition reimbursement, flexible schedules, etc. Make a list of the criteria that’s most important to help you evaluate job offers.

Talking salary is tricky for both sides. Prepare your answer to the salary question before you begin your job search to avoid getting caught off guard.

*** Please note: the content in this episo

📌 NEW Podcast: Content Marketing School.

Thank you for listening, I hope you found this episode insightful and relevant. If you're a coach, consultant, or entrepreneur, or just want to dive more deeply into content marketing. I hope you'll join me on my new podcast, Content Marketing School.

Available on your favorite podcast platform.

(Previously recorded, Live Show)

Follow Black Dog Marketing Strategies on social media

YouTube: https://www.youtube.com/@blackdogmarketingstrategies
LinkedIn: https://www.linkedin.com/in/annetterichmond/
TikTok: https://www.tiktok.com/@annetteadvises
Instagram: https://www.instagram.com/annetteadvises/
Visit our website https://blackdogmarketingstrategies.com/

Annette (00:09):

Hi, welcome to the smarter career moves podcast. I'm an at Richmond executive resume writer and principal of career intelligent resume writing and career services.

Annette (00:32):

Hi, thanks again for joining me today. Today. I want to talk to you about how to answer the salary question. Most job seekers dread talking to recruiters and employers about salary and in truth, it can be an uncomfortable topic for both sides. Now, in many States, it's illegal to ask candidates about their current salary, but that doesn't mean that you can't be asked about your salary expectations. The truth is you can't completely dodge the salary question, but to some degree you can control it. You do it by understanding the process and being prepared before you start the interview process,Today, I want to talk to you about three areas before I begin. I do want to note that I'm not a lawyer. So the content in this podcast is not meant as legal advice. If you do have any questions specific to your situation, you should definitely contact an employment lawyer.

Annette (01:29):

So, the first area is why do recruiters ask about your salary? As a former recruiter I know they don't ask about your salary just to put you on the spot they ask, because they need to know if you are in the salary range for the position they're filling. Remember recruiters don't work for you. They work for the employer. You can learn more about how recruiters work in episode five of this podcast, where I share how recruiters work and how they can and cannot help you. Each job has a predetermined salary range, which has been provided by the hiring manager or human resources to the recruiters. Experienced recruiters know that salaries at the higher end of the spectrum will go to the most desirable candidates. Those candidates who have everything that the employer is looking for and the lower end of the salary range, will go to candidates who have fewer skills or less experience.

Annette (02:36):

Basically recruiters want to know if the employer can afford you, Now, while there may be some flexibility or wiggle room in the salary range, there still is a limit. Employers will only go so high, even if the perfect candidate or the proverbial purple squirrel in recruiter speak, comes along. Learning a candidate’s requirements is a fast way to understand whether a candidate is too expensive for the employer. No matter how awesome you may be. If the top of the salary range is $175,000, it's unlikely they’re going to pay you $225,000. Although I've spoken to candidates who don't believe this. On the other hand, you have to be careful about giving a salary range that’s too low. It can signal to the recruiter that you were under-qualified for the position. If the salary range is $150,000 to $175,000, for example, and you say that your salary target range is $100,000.

Annette (03:43):

It makes the recruiter wonder if you were either exaggerating about your qualifications or if you are grossly underpaid. So how do you respond about questions concerning your salary? If you want to be considered for the position, you need to prepare an answer for salary questions. Now, as I mentioned at the beginning of the podcast, some States have passed laws, prohibiting employers from asking candidates or job applicants about their salary history. As of June 2nd, of this year, 19 States have enacted salary history bands according to HRDIVE. The website HRDIVE keeps a running list of salary history bans. So you might want to check that out before you start your job search. Although some States have banned salary questions specifically, those questions are regarding your current salary or questions about your salary history. That doesn't mean that there won't be any salary questions, recruiters and employers can still ask you about your expectations. Here in Connecticut, where I live, for example, they can also ask about other elements of compensation, as long as they don't ask about the value of those other elements.

Annette (05:11):

Now, you can certainly try to put off a response about your expectations. You could ask what the salary range is for the position. You may say that you don't like to discuss it, you're open until you learn more about the position. Now, recruiters may give you the salary range. They may not. They may push you and not let you put the question off. If the recruiter does give you the salary range, you can respond by saying that's in my range. If pressed, you can pick a number somewhere in that range, but just remember the highest salary in that range, we'll go to the candidate who meets most of not all the requirements that may include having experience in that industry, as well as having held a similar position. It may also include having particular skills and several years in a comparable role. For example, if you're a creative director whose primary experience is with print, you probably won't command the top salary at a digital advertising agency.

Annette (06:22):

If the recruiter won't share the salary range, you can try giving the recruiter, your salary range. Most employers will see the lower end of your range as your bottom line. So make sure that that number is something that you can live with. One thing to remember when giving a salary range is to be sure to note whether or not that number includes benefits while many companies have standard benefits, such as health insurance, other companies offer additional benefits like professional development or tuition reimbursement. The third thing that I want to talk about is how do you decide on a salary range for you? The answer is like most things, it's research research, and more research, the best way to be ready for that dreaded question is to be prepared before you get on the phone with a recruiter or a hiring manager. There is plenty of information readily available online.

Annette (07:26):

There are several websites where you can find information there's salary.com, payscale.com. You can go to the Bureau of Labor Statistics, which is a free government site. You can find wage data by area and occupation there. You can also go to the Occupational Outlook Handbook, which is another free government site. There, you can learn about earnings for different positions. After you finish your research, get additional information by talking to people, either familiar with the target position or people who are actually working in the target position. You may find someone to help you among your family and friends. If not, maybe they can introduce you to someone who can help you. You can also try your college or university alumni association. You may find a contact there who holds your target position. You can also contact the alumni office directly. They may be able to connect you with someone who went to the same college.

Annette (08:30):

Remember that compensation is about more than just salary. It's benefits, including health insurance, vacation, time and sick leave, now frequently bundled together as paid time off, there's tuition reimbursement, maybe a flexible schedule. Some companies have summer Fridays, and the list goes on and on. Those are all part of your compensation package. Don't discount the value of a corporate cafeteria that has inexpensive healthy meals or the option to work remotely, even if it's only one day a week. Make a list of the criteria that's most important to you. That will help you evaluate any job offers. Talking salary is tricky on both sides. Therefore there will always be some anxiety when the topic of salary comes up. Prepare your answer to the salary question before you begin your job search to avoid getting caught off guard. Check to see if your state has a salary history ban. Again, HRDIVE keeps a running list of salary bands by state. If not, and you're concerned about your rights, you might want to talk to an employment lawyer. So thanks again for joining me today. Please do subscribe to our podcast and good luck with your job search.

Annette (10:06):

Thank you for joining us for the smarter career moves podcast. We hope you enjoy today's show. If you did, please subscribe. Thank you. [inaudible].