When you're knee deep in the job search, it's easy to feel overwhelmed by the number of decisions you have to make—decisions that could shape your career for years to come. But on top of all that, there’s the added stress of setting and justifying your salary expectations.
The questions that run through your mind are endless:
- "If I go too high, I might put them off."
- "If I go too low, I’m not doing myself justice."
- "If I name a figure, am I putting myself at risk of locking in too early?"
- "How long should I wait before we talk about salary?"
These concerns are common and understandable, especially when so many employers advertise roles with a “competitive salary” but leave actual numbers ambiguous. This can make it challenging to know if the offer you receive truly reflects your worth.
So, how do you ensure you're being offered a fair deal? Where should you pitch your salary expectations, and how do they compare to the market average for similar roles?
Understanding Your Market Value
In a recent poll, we asked our community “Do you know if your salary is a fair offering?” – and the results speak for themselves. With over 70% of you voting “no” it’s clear that salary is something a lot of ERP professionals are wanting to gain more clarity on.
If, for instance, you’ve spent most of your career at a single company, you might not have a clear sense of what other employers would be willing to offer for your skills and experience. This can leave you feeling uncertain about what a fair salary looks like when it comes time to make a move.
Take, for example, a Senior Infor Finance Consultant I recently spoke with. After more than a decade at the same company, they had progressed from a junior role to becoming the company’s subject matter expert in Infor finance systems. Despite their extensive experience, they had no idea how their expertise would translate into salary terms in the broader job market. This is a situation many professionals find themselves in when they’ve been with one company for an extended period. Without a clear benchmark, it’s difficult to know if your current or prospective salary aligns with what others in similar roles are earning.
Key Factors to Consider
When setting your salary expectations, several key factors can help guide your decision:
1. Which jobs are the best fit for you?
Understanding where your skills and experience align with the job market is crucial. Are you aiming for a role that matches your current expertise, or are you looking to take a step up? The more closely aligned you are with the job requirements, the stronger your position will be when negotiating salary.
2. Salary range for your desired role.
While online tools like Glassdoor can provide general salary insights, working with a recruiter (like me) offers a more tailored approach. That’s because we have direct access to real-time data and insider knowledge about what companies are willing to pay for specific roles. We provide you with a realistic salary range based on your experience, location, and industry trends. This personalised guidance ensures you set your expectations correctly and allow us to approach negotiations on your behalf.
3. Market competitiveness.
How competitive is the job market for your role? If there’s a high demand for your skills and not enough qualified candidates, you’ll have more leverage to negotiate a higher salary. Alternatively, if the market is saturated, you might need to adjust your expectations accordingly.
4. Comparing your skillset.
Compare your skills and experience with others in the market. Are there areas where you excel or have specialised expertise that sets you apart? Highlighting these unique qualities can justify asking for a higher salary.
5. Looking at the complete compensation package.
Salary is important, but it’s not the only factor to consider. Other benefits, such as bonuses, health insurance, retirement contributions, flexible working arrangements, and professional development opportunities, can add significant value to your overall compensation package. Be sure to consider these perks when evaluating an offer.
Negotiating With Confidence
Navigating salary expectations and negotiations can be daunting, but with the right approach, you can ensure you’re being fairly compensated. By doing your research, understanding your market value, and being prepared to negotiate, you’ll be in a strong position to secure a salary that reflects your true worth.
However, you don’t have to go through this process alone. Working with a recruiter can significantly enhance your negotiation strategy. As recruiters, we not only have access to up-to-date market insights and salary trends, but we also advocate on your behalf, ensuring your best interests are at the forefront. We act as a liaison between you and potential employers, doing what we do best to negotiate the best possible offer for you.
What We Do For You
What this allows you to do? It allows you to focus on preparing for the role itself, knowing that you have a professional on side handling the intricacies of salary discussions - with your goals in mind.
Whether you’re looking to make a move or simply want to ensure you’re on the right track in your current role, being informed, confident, and supported by a recruiter like myself, can help you secure a package that truly reflects your value.
Remember, you’re not just negotiating a salary—you’re negotiating your future and having a recruiter in your corner can make all the difference.
