Finding out the salary range for a position before the job interview has never been simpler. Pay disclosure laws have been passed in over a dozen states, cities, counties, and Washington, D.C., requiring firms of a specific size to disclose the compensation range of a vacant position. Additionally, over one in four American workers now reside in an area where wage ranges are displayed on job advertisements.
Leveraging public salary ranges can help you enhance your job offer negotiations
Chanelle Howell, a recruiter in New York City, believes that using wage ranges in job interviews can be accomplished by asking one direct question, citing her experience conducting hundreds of interviews for organizations such as Bridgewater Associates, Goldman Sachs, and her consulting firm. Recently, she provided the following example: Let’s say you are interviewing for a job where the wage range is $100,000 to $150,000. In an interview with a hiring manager or recruiter, ask about the talents and experiences that separate the $100,000 candidate from the $150,000 candidate.
The interviewer will be prompted to discuss their remuneration plan for the position in response to this question. For instance, they can claim that a candidate at the top of the range has a given number of years of experience in the industry, has led a specified number of projects, has managed a specific number of employees, or is an expert in a particular talent. With this knowledge, you may then use your background to inform the abilities and achievements you can talk about. According to Howell, the secret is to reiterate these attributes throughout the interview to support your argument for why you are an exceptional candidate.
According to Howell, you can then use their exact remarks to support your claim for a raise later on in the negotiating process. When you approach the last stages of negotiations and receive a verbal offer, it’s important to discuss how you satisfy the requirements of a high-paid candidate and then respond to the offer by stating that you would like to be paid at the highest possible level. The secret, according to Howell, is to get your prospective employer to specify the precise reason why a person merits that sum of money, after which you should build your narrative around it.
How to use public ranges if you don’t know the salary range?
Although pay range disclosures are not legally required in your state or city, you can still mention that they’re becoming more and more common and that you’d like to use them in your situation. Due to new rules requiring pay transparency, many businesses are disclosing pay ranges to applicants. Can you let me know the range for this position? Howell claims that she has repeatedly observed this tactic to be effective with the clients she works with. Using this structure, a recent marketing customer was able to negotiate a 20% increase in the first offer, or a rise of about $15,000 to $20,000.
She not only did a great job at the interview, but she was also the best applicant, Howell continues. Keep in mind that salary ranges that are too broad to be useful may be listed in some job descriptions. Even in those situations, find out what makes a candidate stand out from the rest. A recruiter might state, for instance, that the highest level is only available to those with decades of experience or seniority that you do not yet possess. If so, Howell advises inquiring about the expected median salary and what makes a good applicant stand out even slightly over that.
Additionally, you can still work your way up to the absolute top of the range even if you don’t get it right away. According to Howell, it’s likely that the wage range listed reflects the anticipated increase in pay for the position in a few years. Bear in mind that the entire compensation isn’t always taken into account by the base salary range, Howell continues. Later on, further components like stock, performance-based bonuses, and signing bonuses can be negotiated.
