Fibbing your way to a new salary

Fibbing your way to a new salary.

Do you add a few thousand dollars to your current salary when job searching? According to recruiting experts Hays, in today’s cost conscious environment doing so can damage your chance of landing the job.

“Some candidates think that by adding a few thousand dollars to their current salary they will get an especially good increase when changing jobs,” says Jason Walker, Managing Director of Hays in New Zealand. “Others do so to have a bit of negotiating room.

“But I can’t stress enough how there really is no valid reason for doing this. It will only serve to jeopardise your application and could damage your reputation in the job market.”

Hays provides these four reasons to make you reconsider inflating your salary:

1. It can price you out of the market. If the increase you give yourself puts your salary above typical market rates, potential employers may assume you’ve been working at a higher level than they require. If you then say you are looking for an increase on what you are currently earning, your expectations may seem too lofty. Worse, a potential employer may decide it’s a waste of time to review your CV if the figure you give is outside the assigned budget for the role.
2. You’ll get caught out. Your recruiter probably knows hiring managers at your current organisation or may have placed someone else there in the past, so if the salary you provide seems unrealistic they can confirm it. Your former boss may also disclose your current salary while providing a reference or you may slip up at some later point.
3. It’s not the only factor that determines the offer. The salary you are offered depends on a number of factors, including the employer’s budget, internal salary bandings, the availability of your skills in the market, what you can bring to the organisation, and what the hiring manager feels your skills are worth. Your current or last salary is only one factor that determines the offer you receive.
4. You can negotiate. Most employers expect you to negotiate once they make their first offer. They also know you’ll want to receive a little more that what you’re currently on to move, so there’s really no need to add on a few thousand dollars.
5.
Instead, Jason says the best course of action is to be honest while also providing an indication of the salary you’d expect if you were offered the role.

“Give a salary range rather than one set figure though,” Jason advises. “For example you could say, ‘Based on my research of typical market rates for this role and the experience and skills required, I’d expect it offers a salary in the range of $75,000 to $82,000.’

“When it comes time to negotiate, remember that you should also consider non-financial benefits. If the employer has a tight budget, perhaps they can offer additional days off, mentoring by a senior leader or internal training?”

Hays is the most followed recruitment agency on LinkedIn in the world. Join Hays’ growing network by following Hays Worldwide. You can also get expert advice, insights and the latest recruitment news by following Hays on Twitter @HaysNewZealand.

Hays, the world’s leading recruiting experts in qualified, professional and skilled people.

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