How much should I be paid?  5 ways to research salary expectations for a new job. 

Researching salary expectations for a new job is an essential step in negotiating a fair and competitive compensation package.   Understanding the salary range linked to your job title within your industry and location is key to making informed decisions. There are notable salary differences across roles, companies, and cities, so it becomes more critical to conduct a level of research before stepping into any salary negotiation. Here are five ways you can research your potential pay rate.

1. Online salary surveys:

Tap into the wealth of online resources like Glassdoor or Payscale for salary insights. These platforms offer average salary ranges tailored to different positions, taking into account factors such as location, industry, and experience. When using these types of resources, it’s advisable to focus on average wages specific to your city or local region, as opposed to relying on country-wide or global averages which may not reflect the average salary for your particular role.

2. Company research:

Explore the salary framework within the specific company you are being interviewed for. Some companies openly share salary ranges in job postings, however in cases where the job posting lacks salary information, take the initiative to conduct independent research. 
Numerous employment websites and online career guides feature insights into company salaries. Consider searching for your prospective employer and look for details about similar positions to the one you're interested in. This could serve as a valuable indicator of the salary range the company might have in mind for the open position.

3. Recruitment agencies:

Connect with specialised recruitment agencies in your industry to gain valuable insights into current salary trends and receive expert guidance. Recruiters are successfully placing hundreds of people each year into roles, and have a strong barometer on wages, especially recruiters who specialise in an industry or job type. 
If you're collaborating with a recruiter, or if a recruiter has approached you about a position, feel free to enquire about any available salary information for the role.  Recruiters act as intermediaries between you and the company, making them potentially more open to sharing such details early in the hiring process. 
Additionally, a good recruiter should ask you about your preferred salary range to match you with suitable opportunities. It’s also smart to ask about the company's offering before expressing your own salary expectations.

4. Consider your experience and skills:

Not one size fits all.  Take the time to reflect on your own qualifications, experience, and skill set. If you possess unique skills or have accumulated more experience than the typical candidate, you may have the opportunity to negotiate a higher salary. While average salary figures provide a useful baseline, it's important to recognise that additional expertise and specialised skills often merit higher compensation or are at the top end of the salary bracket. 

5. Check job postings:

Review recent job listings for positions similar to the one you're interested in within your local area. This approach provides insights into the salary range that companies are currently offering for comparable roles. It's common for job postings to outline the salary range as it assists qualified candidates in determining if the role aligns with their salary expectations.

Understanding the prevailing salary trends in a specific industry or job role enables professionals to negotiate effectively during job offers or even performance reviews.  In essence, reviewing salary expectations or ranges for a role allows individuals to navigate a fair and reflective compensation for the role with confidence. Good luck!

To talk to our recruitment team about salaries in your industry, please contact the team on 131448 or email us.