From the last blog post we shared it is not a best practice to share a compensation range with candidates. It is, however, imperative to have the conversation about comp and it should happen in the first phone call. This is probably the most important conversation in the recruitment process. Let’s make sure you, as the candidate, are not wasting your time. At the same time, the recruiter should not get farther into the process without knowing because they are wasting their time and the client’s time if compensation is not competitive. Great-we can all agree it’s in the best interest of everyone’s time to have this conversation. So why do so many candidates loathe this question….and why do candidates feel they should not disclose their comp?
Candidates- Get.Over.It! Here’s why:
- Projected pay ranges are just that- projected. Company’s often have a range that can stretch 10-50k. For real. Most of the time, clients want to see a range of experience to really determine what they need. If a candidate is coming from the same industry, they may hold more value and have less ramp up time. If a candidate is making a career transition, that can play into offered comp. They may be coming from a smaller organization into a much larger one which will likely reflect a change in how comp is structured. You can’t compare candidates like the old apples to apples scenario. There are a lot of factors at play.
- If you hear a range of 150-200k and you get offered 160k, aren’t you going to be peeved that you aren’t getting offered the higher end of the range? Like, how do they not see you as the superstar you are?! It’s on a different scale, but there is a reason Steph Curry gets paid more than any other Guard in the NBA. You can use any professional athlete in any particular position. There are performance factors at play and how they can impact the team. Therefore, comp varies in that position. You can also look at celebrity actors. There’s a reason Brad Pitt or Scarlett Johansson make $20M a film versus some lesser known actors who may make $5M. Point is, the experience you bring and how it will affect their business, plays a big factor in what they will offer you.
- One of the best measures of a candidate’s business acumen comes out in conversation around compensation. As a candidate, you want to get paid what you are worth…and you SHOULD! It’s the job of the Recruiter to understand the scope of your role, the impact you have made in your career and how your career has evolved to where you are today. It is also the job of a Recruiter to help you get to a competitive offer. Think of a Recruiter as your agent (I’m not talking Corporate Recruiters or In-house recruiters. I’m talking third party recruiters.. don’t know the difference? That’s coming in the next blog post. Stay tuned). It’s ok to share your compensation structure and numbers. Don’t assume it will put you in a box and you won’t get the offer you are looking for. If you withhold this information, it tells us something about you and it’s likely you won’t even get a shot at the opportunity.
- Why would a company that you don’t even work for, disclose any information that has to do with financials? Think about that.
- It saves everyone time which is your most valuable resource.
High performers deserve to be paid what they are worth. Just because a company does not want to disclose a range does not mean they will try to low ball you. This will be a topic people passionately disagree on. Our advice is to be transparent for the reasons we listed above. If you need advice on how to best disclose the numbers, call us anytime.
Written by: Allie Milbrath, CEO
Bottom Line Growth Recruitment