By Robin Carlen
I’ve had several of my clients ask me recently if they can really afford to be picky when it comes to talking about their salary expectations with a prospective employer, especially when considering that millions of people are out of work as a result of the Coronavirus, and the unemployment situation is even worse than what we faced during the Great Recession (2007-2009).
My short answer is: YES, YOU CAN!
Let me explain why you should definitely, hands down, no holds barred, do this:
1. Remember You Have Value and It’s Worth $$$
Millions of people have lost their jobs and many business owners are experiencing serious problems, even including the closure of their businesses. We are living in unprecedented times, and no one quite knows what the outcome will be once this is over. Based on some conversations I’ve had recently, many people who are still employed are not only worried about what might happen to them, but they are often being asked to take over part, or all, of the work left behind by departed coworkers. You may wonder if you have the right to complain when you still have a job and some (or many) of your coworkers no longer do. Shouldn’t you just be a good worker bee (or overseer of bees), put your nose down, and work even harder than ever before?
Even under these extremely difficult circumstances, does this change your value? Absolutely not. You are still important to the company you work for; if anything, you have become more valuable than ever. There will always be people who will try to knock you down a notch or minimize your value (I know, because I’ve been there). If you work for a manager who does this to you, that’s even more of a reason to consider looking for another job. Stat. As Eleanor Roosevelt said, “No one can make you feel inferior without your consent”.
Action Item: Make a list of the successes you’ve had in your current and prior jobs. What have you done that has impacted the business by increasing revenue, improving efficiency, reducing costs? What are your key accomplishments? What positive things have customers or clients said about you?
2. Know How (and Where) To Do Your Research
Most companies base their pay practices on what is known as a “Compensation Philosophy”, which they then formalize into a “Compensation Plan” that they use to guide most (if not all) of their decisions around employee pay. What exactly is a “Compensation Philosophy”? A Compensation Philosophy guides an organization in making decisions related to internal employee pay and how it will compare to external competitors. Companies vary when it comes to their views on this in the following ways:
· They can “Match” the market by paying comparable wages
· They can “Lead” the market by paying higher wages
· They can “Lag” the market by paying lower wages
· They can use a combination of these three options depending on current market conditions, business conditions, the value of the job, how in-demand the skills/experience for that job are, etc.
Remember that base pay is not the only variable to keep in mind when considering a new job. Incentives (benefits on top of base pay) are also very important. If you settle for less when it comes to your base pay, you lose, not only because your benefits are directly related, but also because it will be harder for you to make up for “lost” wages.
In a down economy, how much will it really help to do your research? Aren’t you better off just saying “I’m flexible” when you are asked about your salary expectations? No! Why? For the reasons stated above in #1 and more.
Action Item: Especially if you’ve been a strong performer, have in-demand skills, show a history of being promoted, and have key accomplishments you can point to, refuse to settle. Abide by the belief that “Knowledge is Power” because it really is. Along with writing out your accomplishments, spend some time doing (valid) research about the job(s) you are interested in and their worth in the marketplace, do research on companies you really want to work for (including speaking with people who are or have been there), and you will be in a much better position to talk numbers from a position of strength.
3. Learn Best Methods and Practice Them
One of the first stages involved in the interview process is often a phone screen, where one of the primary goals of most recruiters is to learn about an applicant’s salary expectations. This saves the company a lot of time that will be wasted if an applicant is brought on site only to discover that they are out of range for the job. Knowing how to answer the question, “What are your salary expectations?” takes skill. It not only involves WHAT you say, but it also involves HOW you say it. I recall very well having to deal with what I would call (in nice terms) “overly confident” job applicants who were very demanding about what they wanted. Companies may need your experience and skill set but they will not forget how you came across during the interview process. Management and H.R. are concerned (and rightly so) about an applicant’s communication and people skills and how they will fit into the team and company culture.
What is the best response if you are asked questions related to salary? What (if any) questions are now illegal to ask (and how should you handle it if you are asked them anyway)?
Action Item: There is a lot of information available online and there are many good (and not so good) resources you can use to learn what you need to know. To help my clients, and anyone who is interested in gaining more skill about this during a difficult time, I’m offering my online workshop, “How To Answer Salary Questions In The Interview Process – What You Don’t Know Can Hurt You” for only $.99 (regularly $34.95). This offer is good through June 30, 2020.
To find out more, or to sign up, go here