By Jeff Altman, The Big Game Hunter
I low-balled my “desired salary” for a position I’m applying to, not realizing that the norm was a fair bit higher. They’ve requested an interview. Would it be okay to raise my desired salary if it comes up?
When applying for a new position, it’s common to feel uncertain about the appropriate desired salary to list. Often, we may underestimate the market rate, not realizing that the norm is actually higher. This can be a tricky situation, but it’s important to address it proactively if you find yourself in this position.
The first step is to thoroughly research the typical salary range for the role and your level of experience. This can be done by checking reputable sources like Glassdoor, PayScale, or industry-specific salary surveys. However, it’s important to remember that these numbers may not always accurately reflect the local market conditions or the specific requirements of the role you’re applying for.
Verifying the Salary Data
To ensure you have a more accurate understanding of the appropriate desired salary, it’s best to reach out to someone who is knowledgeable about the local job market and the specific role you’re applying for. This could be a professional contact in your network, a recruiter, or even someone currently working in a similar position.
By speaking with someone who has first-hand knowledge of the industry and the local job market, you can gain a better sense of the appropriate salary range. They may be able to provide insights into factors such as the cost of living in the area, the level of experience required, and any unique qualifications or skills that are in high demand.
Correcting the Desired Salary
Once you have a clear understanding of the appropriate desired salary, it’s time to address the issue with the employer. This can be a delicate conversation, but it’s important to approach it in a professional and transparent manner.
When the topic of salary comes up during the interview process, acknowledge that you may have initially underestimated the desired salary range. Explain that after further research and consideration, you believe the appropriate desired salary for the role is within a specific range that aligns with the market rate and your qualifications.
It’s crucial to present this information in a way that demonstrates your understanding of the market and your value as a candidate, rather than coming across as demanding or inflexible. Emphasize your enthusiasm for the role and your desire to find a mutually beneficial arrangement.
Highlighting Your Value
To support your desired salary, be prepared to highlight your relevant skills, experience, and the value you can bring to the organization. Provide specific examples of how your expertise and accomplishments align with the employer’s needs and how you can contribute to the success of the company.
By demonstrating your value and the alignment between your qualifications and the role, you can help the employer understand the rationale behind your desired salary and increase the likelihood of reaching an agreement that satisfies both parties.
Navigating the Negotiation Process
Salary negotiations can be delicate, but it’s important to approach them with confidence and professionalism. Remember that the employer has likely budgeted for the role and may be willing to accommodate a reasonable adjustment to the desired salary, provided you can justify it effectively.
If the employer is hesitant to meet your desired salary, be prepared to explore alternative options, such as a higher starting salary, a signing bonus, or increased benefits. By remaining flexible and focusing on finding a mutually beneficial solution, you can increase the chances of reaching an agreement that satisfies both you and the employer.
Conclusion
Correcting an underestimated desired salary can be a challenging task, but it’s important to address it proactively. By thoroughly researching the market, verifying the salary data, and presenting your value proposition, you can navigate the negotiation process effectively and secure a fair and appropriate compensation package.
Remember, the goal is to find a mutually beneficial arrangement that aligns with your worth and the employer’s needs. With the right approach and preparation, you can turn this potential setback into a successful outcome for your job search.
ABOUT JEFF ALTMAN, THE BIG GAME HUNTER
People hire Jeff Altman, The Big Game Hunter to provide No BS job search coaching and career advice globally because he makes job search and succeeding in your career easier.
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He is the host of “No BS Job Search Advice Radio,” the #1 podcast in iTunes for job search with over 2900 episodes over 13+ years.
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