Mo mo money
[This is an answer to a question I answered over a year ago on The Job Lounge (via the lovely and talented Susan Ireland). As I was asked the question by a friend yesterday, I thought I’d post the info here for quick-reference.]
By my experience, a job maintains more value to an individual than just a salary. So when applying for a job that asks for salary requirements, you should be careful to consider all of things you might value in a job. And you should quote a figure that would still make the job worthwhile even if the job lacked some of those things you value.
If your ideal job was to work with talented people with whom you enjoyed, in a lovely atmosphere, that was only a short commute from home, had opportunities for growth, provided good benefits and had a good learning environment, you might take a lower salary than if some or all of those assets were missing.
Some career experts suggest quoting a salary range. This sets expectations that your salary is negotiable, pending the benefits (and perhaps pending a match to those other job aspects that are valuable to you).
The challenge that comes in quoting any compensation is that most potential employers will assume they can hire you for the lowest figure quoted. But quoting a figure too high may disqualify you due to the employer not being able to afford such a salary.
My advice on this? Take that risk. You need to get paid what you believe you are worth. If not, you will not enjoy working at that job and therefore the long term potential of your employment at risk, from both the viewpoint of yourself and your employer. Some would say that quoting one figure too high is also a risk, because, if you’re hired, the employer will expect too much from you. To me, this is how people advance in their work – by taking risks and challenging or stretching themselves to meet or exceed expectations. And if quoting such a high figure knock you out of the consideration for that position? So what? There are likely plenty of other jobs out there that are a better fit for you
So when quoting a figure, you might consider several tactics:
quote one figure that you are sure covers the potential of a job not maintaining some or all of those other values in the job
quote a range, and qualify it by noting, “I seek a salary of $A to $B, with commensurate benefits, pending a more detailed understanding of the position.”
if you already understand the job well and are asked your salary requirements, I have heard of people quoting two figures; saying, “I would take the job for $A, but I would be excited and enthusiastic to take the job for (higher figure) [grin]
In the end – go with your intuition. Quote a salary requirement that feels right for you, and not just what you think what is right for the employer. Good luck!
