Money talks in the labor market

Money is one key aspect of a job’s compensation, but how can you get pay worth your work when you’re not used to talking about wages? Dive into this week’s edition and find out how to be more comfortable discussing salaries.

Normalizing salary talk

Although discussing wages between employees is still taboo, salary transparency has become a relevant topic among the workforce, and a vital checkbox companies need to fill in order to stay relevant and attractive to professionals.

Truthfully, salary transparency is a best practice that can benefit employees and companies when used to reduce gender pay gaps and improve work conditions. This issue is so relevant to the labor market agenda that some states across the US have even established pay transparency laws to compel organizations to disclose pay ranges.

Following salary transparency regulations, listing salary ranges in job postings, unveiling your company’s payroll, and providing the criteria for determining salaries are some actions to reduce the pay clearness void. Learn more about this trend in the following article.

Discussing salaries right from the start

For candidates, asking for their worth or even talking about money is challenging. Most of the time, this conversation falls aside during the selection process; nevertheless, negotiating your wage with the right mindset and preparation will become a routine for you.

But negotiation skills aren’t only for a job search. Even if you’re comfortable with your current position, you should feel empowered to negotiate your salary, especially if you have acquired new skills, training, or certifications. Here are a few tips on how to negotiate your wage:

• Do market research

• Consider counter offers

• Weigh-in benefits and bonuses

Find out more about defining salary requirements, best practices for negotiating, and how partnering with a recruiter can help your case by checking this blog post.

Weighing in a lowball job offer

When you’re on a job hunt, you’ll likely receive a job offer below your current or expected salary, also known as a lowball offer. Even if your first thought is to reject, take a step back to loosen up and analyze the situation in depth.

Also, even if it seems complicated, don’t take things personally, especially if the job posting had a higher salary or you’ve discussed it during the interview. This is a common practice across many companies, as it seems to be a financial strategy for negotiating. Here are other cases why the salary range of an opening may have changed:

• Budget changes

• New job specifications

• Your experience and background

In this article, you’ll find insight into taking advantage of a lowball job offer and responding to it.

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