Financial compensation is a controversial and uncomfortable conversation, but something that should be discussed to ensure that the employer can give you what you need before you accept a job offer. But how do you begin the conversation?
Offer a Salary Range – Referencing a one number figure can be challenging for the employer. Is this at the high or low end of your expectations? Are you willing to negotiate? Providing a scale (which can be stated hourly or annually) of where you’d be comfortable helps an employer get a better sense of your needs and your confidence in your skills.
Coming up with your Range –
- Look at your Budget - Ensure that you’d make enough to cover your daily, monthly and yearly expenses.
- Know the Market – Research what the market pays for people in your position within your area. If you’ve recently moved, you may not be in the same salary range in your current location as you were in your old city. Try to keep your research as current and localized as possible.
Use Online Tools - There are many tools to help you do your research on your salary range: You can access these profiles and reports through sites like Payscale, Job Bank Canada, and Glassdoor . Online job boards (such as Indeed, Neuvo, LinkedIn, and Monster) will also often share these types of reports as well!
Don’t Forget Other Factors - Let’s say that you’re comfortable earning $17 an hour. You may state that your ‘ideal salary expectations are $16-18 an hour’. However, you can also negotiate and take into consideration the full compensation package of whether they offer benefits, paid sick days, number of weeks of vacation, and other employee benefits.
Need help finding your salary range? A Lutherwood Employment Advisor would be happy to help you! Go to www.beemployed.ca for more information and to talk with us!