What Salary Should I Ask For?

What is a fair salary to ask for? This is a question that many job seekers face when job searching.  As career author, Alison Green, puts it in her article How to Determine What Salary to Ask For “At some point in your job search, you’re going to be asked what salary range you’re looking for. You’ve probably read that you should try to avoid naming a number first, but the reality is that employers are going to ask you and you’ll usually have to answer. In fact, many online applications these days won’t even let you apply without naming your salary expectations.”

There is no way around this question, and only one way to prepare for it – Research!  By efficiently preparing for the salary question ahead of time, you can accurately evaluate your market value and provide a confident response. 

We often work with clients who are fearful of two different situations regarding salary in the job search. On one extreme, clients do not want to low-ball themselves. On the other hand, they do not want to price themselves out of the employer’s range. As Goldilocks would say, you want to find a salary range that is “just right” for the target position and company. 

Three strategies to ramp up your salary research:

1.) Salary websites. Research your target position on websites that provide salary information. (NACE Salary Calculator, Salary.com, Glassdoor.com, Payscale.com, CNN’s Cost of Living Calculator.) This can be a good place to start your research, but don’t strictly depend on this strategy. Job titles commonly represent widely different latitudes of responsibility, and salary websites don't always reflect this.

2.) Ask professionals in your target industry. I am not suggesting that you ask others what they make. That can be awkward for both parties involved. Rather, you could say something like this “Based on my research, I have found $ - $ to be a fair range for this position. Given my experience and level of education, would you agree?” Are you about right, too high, too low?

3.) Check out similar positions on online job boards. Some companies will list a salary range with the position. Target similarly sized companies in your desired geographic region to gather additional data.

Do as much research as possible. This will allow you to identify consistent salary patterns in your industry to generate a fair salary range. After you have explored all three forms of salary research, you can provide an informed response based on facts. What strategies would you add?

Keep in mind, salary is just one piece of the compensation package. Though some companies have set ranges that allow little wiggle room, don’t let this discourage you. You’ve still got benefits, bonuses, vacation days, etc. to negotiate! Click here to hear what Dr. Joe Labianca, UK Professor of Economics, has to say about salary negotiation. 

Posted by Kelly Allgeier