Have you wondered what the salary range is for the job you’ve considered applying for?
There’s really only one way to find out: apply, interview and prove your worth. Show them how you can raise revenues, reduce expenses, or make their business more efficient.
There’s usually no set formula for determining the salary when a company hires a new, talented professional. What the company wants to pay and what the company can pay is often different from what they will offer a specific professional.
Factors a company considers:
- Internal equity – what others in the company with similar duties, education and experience are earning.
- The salary of the previous person who held the position.
- Your current compensation.
- The priority level of filling the position.
- How motivated they are to hire you.
- Your level of enthusiasm about the opportunity.
- Competing offers, if there are any.
Your specific level of experience influences an offer greatly. For example, you may “wow” them through the interviewing process but may have experience that’s a little lighter than they were targeting. They’ll want to hire you, but you probably won’t get an offer at the top of their pay scale.
On the other hand, many professionals bring a higher level of experience and knowledge to the table, and companies end up raising the level of the position.
So, if you really want to find out what a position pays, apply for it and demonstrate your value.