What Does Competitive Salary Mean - TheJobNetwork

What Does Competitive Salary Mean - TheJobNetworkSometimes the vocabulary of job searching all binnenseems to blend together into a confusing jumble. Have you seen the phrasingcompetitive salary, and not been quite sure what it means? Let us help. Competitive salary simply means that the salary theyll offer will be equal to or mora than the industry standard for similar jobs in the same geographical area. That makes it easy to estimate if you do a bit of field research. googletag.cmd.push(function() googletag.display(div-gpt-ad-1467144145037-0) ) It also means this company might be more open to salary negotiations. Or that they keep their salary information confidential to protect their employees i.e. youll find out when youre hired. It also might mean that the company is trying to weed out candidates who are only in it for the money. You might also see the terms negotiable salary or market rate. Those terms usually mean the same thing.Its Not All in the NumbersRemember in places wh ere supply is lower than demand, the going rate, or competitive salary will be higher. And also keep in mind that there are other forms of compensation in a package, like benefits. One company might offer a lower salary than another, but more than make up for that in the benefits they are willing to provide.Determine Your GoalsIf youre looking for a job, the most important things to consider are what you need to support your life. Do your research into the going market rate in your region. Then figure out what the minimum is youd need to make. Dont forget to consider things like benefits. What would insurance cost in your state if not subsidized by your employer? How much paid time off would you want in a given yearand how much would that be worth, given the rates? Will this company contribute significantly to a 401k?Once you know what you need, or want, youll reach an appropriate moment to bring this up with your potential employerusually not before the second interview, or when an offer is made at the latest. One option is to wait and see whether the employer brings it up first and saves you the awkwardness of finding a way to steer the conversation in that direction. Once you find your moment, inquire about the compensation.Be StrategicOnce you have your answer, and its not quite enough, realize you might not get what you ask for. But dont walk away Use what youve learned about the market rate to gently and respectfully see if they are willing to negotiate. If youre the candidate they want, chances are that if they can, theyll try.Remember Dont sell yourself short if you dont absolutely have to. Stay strong and get your needs metthat way you wont resent your employer down the line.