Career, Personal Finance

How to give salary expectations

Give salary expectations

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The job ad sounds perfect, but there it is again, the hated sentence: “Please send us your documents and your salary expectations.” How do you give salary expectations? How do you know what is appropriate? You may be playing with the idea of overlooking this point.

Don’t do that! Because if you miss the first instruction you get from your potential employer in the first place, it makes a really bad impression. And with a little research you will also find the appropriate number and be able to give salary expectations.

What to calculate to give salary expectations

Basically, you need to know that the salary you give in the application is the gross annual salary. In some job advertisements, “salary p.a.” is written – that means “per annum” i.e. “per year”. And gross means that payroll tax and your social security contributions will still depend on it.

If you want to find out how much of your gross amount is still net, you will find several gross net calculators on the Internet. The amount of your levies does not increase linearly, so a slightly higher or lower salary can make a significant difference.

Give salary expectations by industry

If you’re looking for average salaries on the Internet, you’ll always have to specify the industry first. Especially in the industry, but also in retail, you can earn quite well, while you have to make do with comparatively much less money, for example, as a hairdresser or baker. If your desired company has signed a collective agreement, your salary expectations are of course particularly simple.

However, for most sectors, there is also a great deal of information on salaries, resulting in a relatively good average. But you shouldn’t just take that on board: there are several factors that you should include in your calculation.

Location matters

In many cases, small enterprises in structurally weak areas pay significantly less than large corporations in economically strong areas or large cities. However, the cost of living is, of course, higher in the latter areas. Here you have to overstate what is more worthwhile for you if you don’t know exactly where and how you want to live anyway.

What is it for?

Think well about what you offer the company value before you get into the pay negotiation. As a graduate with little practical experience, you shouldn’t ask for as much as colleagues who have been around for a long time. However, if you can trump such exciting things as an extensive internship abroad and with the perfect mastery of foreign languages, these are of course values for the company. If you’ve already gained experience, you’ll put that on and set your salary expectations a little higher.

Improve on your current job

Of course, you don’t want to get less salary than before when you start a new job. You can also add a little bit of your previous salary: Normal is about five to 15 percent. If you know for sure that you have received extremely little so far, you can also ask for 20 percent more.

After all, none of your new bosses knows what your payroll has looked like so far. But don’t get too far over the line: few successful bosses are known to distribute money too freely.

Don’t lowball yourself

You really want to have this job, so you’re giving a lower salary to beat the others? Unfortunately, this is a bad idea, for two reasons. First, the recruiters see that you haven’t prepared carefully for such an important issue as your application.

This doesn’t seem particularly tempting – there’s even a possibility that you’re not invited. And secondly, if the boss thinks that he likes to seize this favorable opportunity, you won’t be happy at work later. You get your colleagues get more money for the same job, and that leads to frustration. You can no longer catch up in this company.

The same applies if you set the sum too high to be negotiated down later. Some Human Resources Managers draw a line before invitations for a certain amount. So it’s best to really keep yourself within the framework you’re building through your research.

Important Source: The Company Website

The industry, the location, the size – these are all important factors that you should consider before you shape your salary expectations. But be have a look at the company website! How is your desired employer doing? Has he just opened a new plant or expanded abroad? Did he have to close a department, or are the employees employed in short-time work?

Depending on whether the company is having problems or thriving, you can more or less demand from the general framework. Also take a look at the employer ratings on the Internet: Here you can see how satisfied the employees are with their pay.

The best at the end

You put the salary idea in your cover letter for the application. In this way, the employer has already been able to read in advance why you feel good for the company and what added value you offer. If you have a very accurate idea, you can give a round sum. If you are more insecure, you specify a range, for example “between $84,000 and $86,000 gross per year”. The latter also gives you some leeway in conversation. You also avoid being sorted out because of too high a salary. Once the interview has been reached, one can respond more flexibly to the company’s ideas.

The salary negotiation: Listen to options

If you are actually invited and get a sum called that undercuts your performance, you should still not reject directly. Many employers offer their employees monetary benefits. One of the most important is the company car, but there are also many other possibilities. Let them explain to you in peace and take the time to calculate before you say or reject. Best wishes!