What salary should you be asking for?
This is a really important one, because there is a risk of potentially getting this number wrong and that rules you out of the process.
If you go too high, you get auto-rejected.
If you shoot too low, you run the risk of not earning your potential.
And that causes issues with your budget, your finances, your pension, and your long-term goals.
All of that kind of stuff can fall down if you get this number wrong.
It’s all about the industry, the location, and the job level.
There’s no one-size-fits-all, as this is quite personal.
I want to talk this through with you so you can work out what you’re worth and ask for that when you’re applying for jobs.
Now, if you’re already at the job offer stage, congratulations.
This video is for you instead.
But for now, when you’re making your initial job applications, this is what you need to focus on today.
Calculate Your Minimum
First of all, calculate what your minimum might be.
And before you tune out because you think I’m going to ask you to apply for the minimum, it’s far from that.
You need to have a look at what your minimum is to maintain the kind of lifestyle that you want to lead.
Because when you’re looking at different opportunities, you might be at a stage in your life where you’re willing to compromise to get the right fit.
If a role was fully remote, meaning you didn’t have to commute, or it helped you manage your priorities outside of work, then maybe a cut in what you earn is the right approach.
But you need to make sure you know what that minimum amount is.
Start by calculating what that would look like, so you know your bare minimum base.
Because you don’t want to go beyond that or waste your time by applying for jobs that offer less.
Check For Your Compromises
Next, have a look role by role and check for your compromises.
For each job that you go for, there’s always going to be a shopping list of things that you want and then the things that aren’t necessarily on that shopping list.
Let’s say, for example, you want to do hybrid work, but a role is asking for four days a week in the office.
However, you really like the job, you really like everything else about it, and actually, the office isn’t that far.
Never compromise without adjusting your minimum so that you get the benefit of that compromise.
If you’re going to step out of your comfort zone, go and make it worth your while.
And realistically, people are changing jobs all the time.
If you can stick being in the office four days a week for 18 months, then you’ve earned at least a rewarding salary to go and do so.
Then you’ve got the badge of that role on your CV, and you can go and find something that brings you back to what you’re more aligned to.
Think of things like a longer commute, rubbish benefits, a lack of pension, or a lack of holidays.
All of that kind of stuff mounts up.
Research the Market Rate
What you have to do next is research the salary against that role and what that means.
Now, some companies will tell you what that salary will look like.
In 2027 in the UK anyway, that is going to change and that will become mandatory, but we’re not there yet, and not everyone’s falling into that process.
If you know the salary, great, put a pin in that.
But if you don’t know the salary, go and look at companies like Glassdoor.
If you’re not familiar with it, people go on and upload what they get paid anonymously to give others an indication of what salaries are being benchmarked against.
In the absence of Glassdoor having any good data, because small organisations might not have enough, use AI, but use it properly.
Don’t just paste the job description.
Ask it: “What do people who live in this area, doing a hybrid role, get paid to do this specific job with this specific company who are based in this area?”
The location bit is really important.
Even if you’re in one country, the different geographical locations can determine the salary that you earn.
The cost of living in London, for example, is very different to the cost of living in Belfast, and salaries reflect that.
Use AI to do your research and find out what the salary range could be.
It’s not perfect, but it will give you a guideline of what that might look like.
Time to Apply!
You’ve done your research, or you know the salary, and now it’s time to apply.
First of all, it goes without saying, make sure that the salary range is above the minimum of what you should be going for.
If it’s below your minimum, don’t waste your time because it’s unlikely you’re going to be able to negotiate that above the minimum.
If you go through an interview process hoping it’s going to go that way, remember there will be other jobs that pay what you’re looking for.
Make that tactical decision now to not waste your time later.
However, if that salary range is above your minimum, then my recommendation is to apply for the job and go 5% less than the maximum of that salary bracket.
The reason you need the 5% buffer is because if you go in at the absolute top of your research, that research might not be completely accurate.
When you apply for opportunities, if the salary falls outside of their range, you will get declined.
Especially in this market, sometimes they would have a conversation with you to see if you would come down.
But in a market that’s rich and full of supply, if there are too many candidates who already fall into that salary bracket, they are going to get prioritised.
Go 5% lower than that maximum range you’ve researched.
Don’t worry, because once you get to the offer stage, you’ve already gone through the CV checks, the first round, the second round…someone I know had a seven-stage interview recently!
If you’ve got to that point, they want you.
At the offer stage, you can negotiate that later. (remember the other video!)
What I will tell you now is if you’re given a job offer, thank them for the offer, and wait 24 hours so you can sleep on it and get back to them.
That gives you the time to work out your next steps and plan your negotiation properly.
I hope you earn exactly what you’re worth.
Key Takeaways:
- Calculate your minimum: Always know your bare minimum base to maintain your lifestyle, and only adjust it if you’re making a worthwhile compromise.
- Do your research properly: Benchmark salaries using platforms like Glassdoor, or use AI by asking highly specific questions about the role, location, and company.
- Use the 5% buffer rule: When applying, pitch your salary expectations 5% below the top of the bracket to avoid pricing yourself out of a candidate-rich market.
Good luck with your job searches this week, and if you’d like to learn how I can help you further, Book a free, no-obligation 30-minute consultation with me and tell me your story.
Let’s see if I can help you shift the dial and secure your new career.