While the economy was on an upswing, we are now dealing with record levels of unemployment. Countless Americans are out of work or furloughed, while others feel they are hanging on by a thread. With such uncertainty, I can understand why people are concerned about their future. I can also understand why those currently seeking a job are worried about being lowballed regarding salary. Here are my thoughts:
This season is only temporary.
Though there may be some changes in salary, I do not anticipate that salaries will decline rapidly and stay there. After the crash in 2008, everyone thought the world was ending. There were concerns about salaries, lending, banking, and the economy as a whole… Yet after much change, review, and a big turn-around, companies began to flourish and grow.
If companies are hiring, they are in a good financial position.
Companies that are actively recruiting new employees are likely in a strong financial position to begin with, so the chance that they are going to cut salaries substantially is slim. Some companies may have decreased salaries temporarily to reduce overall costs, but I do anticipate that businesses will begin to operate at normal capacity as people feel it is safe to resume regular activities.
When it comes to salary, be prepared.
I encourage you to allow the person conducting the interview to take the lead when it comes to salary. When asked what your salary range is, turn the question back around. “I’m flexible depending upon the responsibilities. May I ask what your budget is?” And move forward from there.
Above all, research and be prepared to answer when asked. A simple search online using LinkedIn, PayScale, Glassdoor, and Indeed, can help you know what the range is for someone with your experience. Remember that salary is not just about take-home pay. Benefits, PTO, and a 401K match, are all important factors to consider, as well as scheduling, flexibility, travel, etc.
If you need some guidance with your job search, consider my comprehensive training program. With a personalized plan and approach, you will have all the tools you need to be paid what you are worth. Michelangelo once said, “The greater danger for most of us lies not in setting our aim too high and falling short; but in setting our aim too low, and achieving our mark.” So aim high, remain negotiable, and contact me, today. Your dream job is waiting!
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