With the novel coronavirus, many people are job hunting or completely pivoting their careers in general, and there are many facets of this complicated, and sometimes, drawn-out process. Resumes, portfolios, and multiple interviews later – whew, you’re worn out from the mental, emotional, and physical gymnastics of it all.
However, you cannot neglect an important step in the job-hunting process – the actual job offer. Think about it, if a potential employer contacted you today or the next day with an offer, would you have a number in mind for your salary requirements? Surprisingly, many people do not, but you can get ahead of the pack by taking these 5 steps to estimate your salary requirements and make them a reality.
Research average salaries. There’s no better way to get a feel for your deserved wage than to research what others out there are also making at their jobs. There are several websites you can use to obtain this information, such as The U.S. Bureau of Labor Statistics. This website, for example, can provide salary data for thousands of jobs, including any of a similar nature within your geographical area. If possible, find a median salary for the type of job you want to apply for and take it from there.
Consider your experience. Now, you have a general number in mind from your research, and it’s time to consider your own experience. If you’re new, or “green,” to your field, you will, obviously, have to settle for the lower end of your salary range. If you have three to five years of experience, you will have more wiggle room to command a higher pay rate. Remember, a majority of employers consider the experience to be more vital than your education, so it’s crucial to know where exactly you stand in this regard.
Examine your current earnings & personal finances. In most cases, your salary requirements should exceed your current compensation. Who wants to leave a job and accept a new one that pays less, especially if you have years worth of experience under your belt? Unless you have a strong passion for the company, see significant potential for advancement, or are ready to move on from your current position, you need to hold firm to only accepting the amount of money that you feel like you’re worth.
Turn to a job placement professional. If you have a difficult time locating salary data, it may be a good idea to seek out someone more knowledgeable than you is on the subject. You can easily speak to a recruiter or a job placement professional regarding this issue. Looking to take it the extra mile? Hire a life coach that can help you plot out an exact track of your short- and long-term career goals, including salary expectations, benefits, and more.
Discuss and negotiate benefits. You put in all of the work, and it’s come to the moment of truth. Either, you’ll be presented with a number or suggest your own. From there, you can discuss paid time off, insurance benefits, retirement plans, stock options, and more. If the salary isn’t your dream number, it’s vital to consider the other perks of the job in conjunction with the check you’ll be paid weekly, bi-monthly, or monthly. Despite all of this consideration of salary, numbers aren’t everything!
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