Why do we feel uncomfortable to disclose salary expectations? Employers are bound to bring up this topic at some point in an interview. Truth is, your salary expectations are something that you know and the company doesn’t. There exist a whole bunch of outdated and misinformed salary “myths” that stand between you and the salary you deserve.
Yes, salary negotiations might be the most nerve-racking part of the job offer – this is why we have debunked six salary myths to make the process easier for you.
You must keep your paycheck private
Our parents’ generation don’t openly discuss money because that’s how they were raised. However, in comparison, millennials have witnessed a greater shift around salary disclosure and social media has played an important role in embracing transparency.
Lowballing your salary expectations to get in
By putting down your lowest acceptable salary in hopes to be considered and get a raise or promotion can backfire. By seeing this, companies will base their offer on your underestimated figures and pay you less than your worth. Instead, provide a salary range of your comfort upfront as it is not easy to shift your compensation once you have the job.
Decline offers that don’t pay enough
If you feel the salary range being offered is lower than your expectations, don’t let go. Impress them with your skills and expertise, there’s a possibility you’ll win them over for a more generous salary.
Negotiating will put your job offer at risk
Understand that ‘negotiating’ your salary is normal and expected. If your offer doesn’t meet your expectations let them know. The key is to communicate clearly and professionally as to why you deserve the amount or what you could bring to the table. On the other hand, never act entitled or arrogant.
It’s inappropriate to ask for a salary greater than your current one
Ultimately companies want to attract new talent who are happy and excited about the offers. Know the market value for your experience and whether the salary is in line with the industry benchmark.
Negotiating for a greater salary makes you greedy
Negotiation helps you to be clear on the salary you are looking for. Examine your value in the market based on your skills and expertise and if you’re not being offered your market value, open up a negotiation. Do your homework and understand your true market value.
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