By Jeff Altman, The Big Game Hunter
I like to spend a few minutes quite frequently talking with you about some element of job search because I don’t believe job hunting has to be hard, difficult, painful, or take a long time.
It’s just the skills needed to find the job are different than those needed to do a job. And thus, when I do this show, I’m just trying to address some of the things that will help you perform at a higher level and also understand how the system works. So, someone wrote to me and asked, why do companies and recruiters want to know my past salary? Very valid question.
From you, from them, there’s a reason. There are reasons for it. Number one is they want to correlate what your current salary is with people internal to their organization to see how you match up.
I’m just going to pick numbers at random. So, let’s say you make $100,000 doing the equivalent of what someone internally to their organization does at $75,000. There’s no way they’re interviewing you.
Another reason they do it is they want to see whether you’re within their price points, whether you’re within the budget for the job that they’re interviewing you for. Again, for example, you make $150,000. Their job goes to $130,000.
They know you’re not going to take a $20,000 reduction in salary and they’re not prepared to pay more. Why would they continue or even have a conversation? It makes no sense. Now, let’s also look at the scenario where you are within budget.
The job goes to $140,000 and you’re making $125,000. Generally, firms have theorems or formulas within their firm as the percentage increases that they can offer. So, I just want you to know these are targets.
Some firms exceed these targets. So, don’t take this as being cast in stone. But, let’s say you’re making $125,000.
The position goes to $140,000. Their ideal rate is 5% salary increases. So, I’m going to do some quick math.
Let’s say they would propose a $7,500 raise at 5%. So, they could offer you $132,500 or $135,000 and thus you’re within the budget of the job. They save $5,000.
HR looks like heroes and you’ve gotten an increase that hopefully you would like and they’ve saved $5,000 on what they were prepared to pay. Notice firms don’t often reveal what the salary range is. And the reason is, if you make, let’s say $90,000 and they’re prepared to pay $130,000 and they offer you $110,000, it’s a good increase, right? It’s a good increase.
It’s a $20,000 increase, but you ask yourself, hey, how come I didn’t get $130,000? And it becomes harder for them to close the hire, close the deal. So, firms are trying to use data that you provide to manage you into jobs, manage your expectations and save themselves some time. There’s no beneficence in this.
It’s all part of the manipulation that organizations do to try and bring you on at the least amount of money. And save themselves a few dollars, rather than giving you as much as they’re prepared to pay. Hope you found this helpful.
If you’re interested in my coaching, reach out to me. The easiest way is visiting my website, which is TheBigGameHunter.us. On the top of the page, look for the tab that relates to coaching. I do a variety of different forms.
So I can coach you over the course of the entire search. And we can work hourly on that. And I do have packages that you can order that allow you to pay less per hour for my talk.
Or you can just hire me to critique your resume and or LinkedIn profile, prepare you for interviews, help you with salary negotiation, just purchase time because you want advice from me. There’s a whole different number of ways that you can approach me for help. So, I hope you find this helpful and I hope you come to me for coaching.
So, that’s today’s show. Hope you find it helpful. I’ll be back soon with more.
In the meantime, have a great day. Take care.
There are several reasons why companies are recruiters want to know your salary and few of them benefit you.
Tough Interview Questions: Rate Your Abilities on a Scale of 1-10
ABOUT JEFF ALTMAN, THE BIG GAME HUNTER
Jeff Altman, The Big Game Hunter, is a coach who worked as a recruiter for what seems like one hundred years. His work involves career coaching, all as well as executive job search coaching, job coaching, and interview coaching. He is the producer and former host of “No BS Job Search Advice Radio,” the #1 podcast in iTunes for job search with more than 3000 episodes.
Are you interested in 1:1 coaching, interview coaching, advice about networking more effectively, how to negotiate your offer or leadership coaching? Schedule a free Discovery call.
Connect with me on LinkedIn. Like me on Facebook.
You can order a copy of “Diagnosing Your Job Search Problems” for Kindle on Amazon and receive free Kindle versions of “No BS Resume Advice” and “Interview Preparation.” If you are starting your search, order, “Get Ready for the Job Jungle.”
Would you like to talk through a salary negotiation or potential negotiation you’re involved with? Order and schedule time with me.
Do you have questions or would like advice about networking or any aspect of your search. Order and schedule time with me.
Would you like me to critique your resume? Order a critique from me
Jeff’s Kindle book, “You Can Fix Stupid: No BS Hiring Advice,” is available on Amazon.
