Salary is such a delicate part of every job search. You want the job but you don't want to work for free, and you don't want to take a pay cut if you don't have to. To complicate the issue even more, addressing salary is more delicate today than a year ago because too many job seekers are chasing too few job openings.
What does that mean? Well, the employer appears to have the advantage. If you're unemployed and really desperate to find a job, you don't want to play hard ball and risk losing an offer. If you're not so desperate, you have more flexibility in what you say about salary to the employer, but you still have to play it safe. So if you find a job ad that requests salary requirements, how do you address it in your cover letter? Here are three options:
- Beat around the bush by saying something like this:
"Salary is only one of the factors I consider important in weighing a job offer. I'd be happy to discuss it once we determine I'm a strong candidate for the position."
- Give a range you're comfortable with:
"Based on my understanding of the job responsibilities listed in the ad, plus the value I could bring to your organization and my understanding of the market, my salary expectations would fall in the range of $40,000 to $60,000 per year."
- State an exact number you're hoping to settle on:
"Based on my understanding of the job responsibilities listed in the ad, plus the value I could bring to your organization and my understanding of the market, the salary I have in mind is $35,000 per year."
The important thing to keep in mind is that if you are desperate, you don't want to appear to be. An employer can pick up on that and extend a low salary offer. If you're not desperate, you have to consider current economic conditions and be as realistic as possible when stating a salary range. Use salary research sites like Salary.com, PayScale, and Bureau of Labor Statistics to get an idea of what the job might pay.
There's no right way to talk about salary, so base your expectations on your research, what you're comfortable with, and what you can live with.
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I'm a fan of the range approach or what you did with #1. The employer might offer you something in the higher end of your range, which could be more than you expected.
I wouldn't put an exact number.. Even giving a range of something like 35,000 - 40,000 gives you some flexibility when negotiate time comes around.
I've run into the following scenario once, and was glad to have done IN DEPTH research into the position because it allowed me to demonstrate the value of my research abilities as well as my tact and diplomatic skills, ...
Me: "Given the current market climate, my accomplishments in this field, I would expect a base salary between $60 - $70,000."
Hiring Authority: "Oh no, we couldn't possibly pay that to start."
This opened the door for me to share just how much I knew about their organization, how my expertise would add to their productivity by giving specific examples, then closing by asking, "Would there be any specific questions I could answer for you to validate why my services wouldn't be worth $62, 500?"
At that point he was either going to ask further questions on my management style or specific accomplishments/tangible goals that I met with my past employers (which I was ready for either) ... or he was going to flat-out reject even the low $60K which would have been just above the low end of my position and tenure in the field. If the latter would have been the case, I would have thanked him for his time, wished him well on his search for the right candidate and ended the interview. As it turned out, he said he'd have to really think about it, make a few phone calls and said he'd be in touch. I thanked him, exited his office into reception, then went into a vacant conference room just off reception to make a cell call. I noticed my interviewer almost in a trot go by the conference room as if trying to 'catch someone'. He didn't see me. It was at that moment I knew I'd be offered the position and I'd hold out for $62.5K. I went back to reception thanking the young lady your her courtesy, she then informed me that the 'interviewer' tried catching me at the last minute. The interviewer came walking back into reception, saying, "There you are, ...I'd like to speak with you for a minute if you don't have to rush off." I was hired for $63,000. My gamble paid off, but I had to back it with solid research and a frank tact/diplomacy stating "I want this job!" In return for the interviewer's confidence in what I offered, I closed my meeting with him, shaking hands ... and put my reputation on the line by saying, "I will not fail you." If you think about it, ... that statement is a powerful statement - one that will hold you to the hardships and challenges of which you will overcome and meet. In short, you live up to 'giving your word'. And the employer will be watching to insure you live up to it. It's a win-win situation. -G. L. Lawritson
Well i think salary may be discussed after the selection process or during interview. Already mentioning salary range in the CV or Cover Letter lessen the chances of getting shortlisted in the initial stage.
I agree, personally talking about the desired salary with the employer is a more suitable approach in the current scenario.
Regarding salary to be address during interview or cover letter one needs to be practical. One can just give a flowery answer or quote any figure.