Understanding if you’re being paid fairly is a subject buried in obscurity. Salary is often a taboo topic that gets brushed under the rug.
As of this year, more and more laws are being placed that force companies to reveal what a job opening or current position pays. Additionally, hiring managers are realizing the value of placing their salary range in their job ads. Around a dozen municipalities and states, including California, Washington, and New York City, have enforced wage information access.
The disregard for a company’s human capital makes bad business. A survey from Glassdoor found that 63% of employees prefer to work at a company that discloses pay information.
So what does this mean for you? How will pay transparency impact your job search in the future…
You have the right to ask
There has been mixed feedback on whether or not it’s appropriate to ask about salary before the job interview. It’s a waste of time for both you and the interviewers if you’re just going to decline due to salary. Luckily, the best hiring managers will request a range during the beginning stages of the candidate process. The truth is, nobody wants to waste the time.
More companies will choose transparency
With clear wage ranges becoming the norm, hiring managers will have to work harder to ensure that job descriptions highlight all of the bonuses, benefits, and culture that set them apart in the hiring market. This will be especially crucial for small companies that cannot compete on price with large corporations in their market. That’s why it’s a great idea to hire a recruitment team that will be able to showcase the value of your job searches.
Salary negotiations will continue on
Some argue that pay transparency eliminates the need to have negotiations completely. This couldn’t be further from the truth. Instead, everyone will need to put more focus on future earning potential. It will help candidates manage expectations and understand where the flexibility is.
At the end of the day, you should always do your research to determine where you’re at in your career. As hiring managers continue to be more transparent in their job descriptions, candidates can make more informed decisions in their job search.