Haven’t you been called for job interviews? And when you take part in selective processes, you are not the candidate chosen? Have you done an analysis about why this might be happening? Undoubtedly, this can be the result of several factors. Let's talk about one of them: The wage expectation.
For exemple:
1 - How much has the market been paying for professionals who occupy this position?
2 - How is the relationship between supply of labor and vacancies available?
3 - What are your competitive differentials compared to the other candidates who compete with you for the same position?
4 – What if the competition is not accepting lower wages?
All this influences the construction of a salary.
How do you know the best salary you can earn?
The answer is not simple and you yourself are the best person to answer this question. But we want to help you find the best option.
Analysis of the type of activity and shortage of professionals.
You have to analyze if there is a shortage of professionals in your area. This shortage makes this type of professional someone harder to find, more rare. Rarity is undoubtedly a determining factor in attaching value to something. There is only one true picture of the Mona Lisa in the world, and this makes it very valuable, while there are several other paintings that are exactly the same but are not genuine.
Do you see the power of rarity? With that in mind, think about how many professionals like you exist and are available in the market. If you understand that are few, feel more secure about your salary. If you understand that there are many, then it is good to review your values.
Analysis of your competitive differentials compared to other candidates.
If you are currently employed, the elaboration of a salary pretension is simpler. Consider how satisfied you are in your current job and the personal cost of a job change. You can ask for the same amount you receive in the current company, or more. If it is for the same position, a market standard is the new company accepting to pay 20% more. But this isn’t a rule: it depends on how much you earn in the current company, and whether this value is above or below what is common in the market.
And don’t forget to evaluate not only salary, but benefits and conditions / requirements on your future job.
If you are currently unemployed, you may have the previous salary as a reference, but you may need to evaluate more factors to formulate your pretension in a competitive manner.
Age
How old are you? Unfortunately, age is always taken into account. Many companies and the market in general often interpret that the peak of a professional is around the 35 years. Before that, you can be considered a bit "young" and after that, you can be considered a bit "old". However, in senior management or leadership positions, it is normal for this age to be higher.
Formation:
What is the ideal training for those who hold your position? Do you have this formation? If yes, was it acquired at a renowned university? Unfortunately, preference is often given to those who have studied in the best universities. If you do not have adequate training, or if you have it, but it isn’t from one of the best universities, you lose competitiveness.
Experience:
How much is it necessary and important that you have experience for those who want the job you are applying for? If experience is needed, do you have it? Do you have a good deal of experience in the position or function? And do you have such experience in any reputed company? Again, having a well-reputed company on your curriculum will help you.
Additional courses:
Did you take any additional courses related to your position or profession that helped complement your resume? If not, you may have lost competitiveness.
Specific knowledge:
Does the position or function require specific knowledge? How are your specific knowledge? Are you good at what you do? Do you bring a good amount of knowledge about your position or activity?
Skills:
What is your ability to work with what you know related to your position? Maybe you have only theoretical knowledge, but little practice. In this case, you have lost competitiveness.
Attitude:
How much do you like what you do? In addition to knowledge and skill, it is important to like what you do, and that is what we mean here with “atitude”. Linking what you do is one of the fundamental points to grow within the profession and in the area that you chose to work. If you have attitude and like what you do, you have gained competitiveness.
Languages spoken:
Is it important for the professional in your position to have knowledge of another language? If yes, how is your knowledge in this language? If you're good at it, great! You have gained competitiveness. If you’re not, you have lost competitiveness.
Minimum cost:
All of these factors should always be considered in accordance with your current financial needs. Professionals who better manage their minimum costs may offer greater flexibility for companies when negotiating a salary, herefore they will have greater bargaining power and competitiveness.
Time to think and put on the tip of the pencil
What you must do now is to weigh each of these items and think that the market, in theory, will pay the best candidate the highest salary for this position or profession, and will pay the lowest salary to the candidate who submits to it, but who still has some competitiveness.
In this way, if you lost competitiveness in some of the items listed above, give discounts and try to pursue what you understand would be the most correct salary for you in front of what you can offer, the number of market opportunities, the rarity and what you understand your competitors are offering.
Remember that the pay is linked to how much you are able to offer, but also to how many others can offer for a lower cost. If the market has many candidates with good profiles and who would be willing to work for less, you will lose competitiveness and will have to lower your salary pretension to increase your chances of being hired.
Proper salary negotiation is vital not only for you to get the new job, but also to stay motivated in it, while continuing to provide the company with the results it expects.
It is also important to remember that in times of crisis, it is normal for companies to dismiss high-salaried professionals and to re-hire people with similar skills to occupy the same position, but with lower salaries.
You may be not happy to revise your salary claim, which is perfectly understandable, however, if you take too long to get back in a company, you may end up having to accept even lower wages.
Considerations:
We hope these tips can help. If you are an Engineer and are looking for a job or new career opportunities in Engineering, we would like to invite you to visit our Connection Platform, designed to connect companies and professionals. In it the candidates find support material with exclusive contents that help in the process of placement service, besides having access to job openings for Engineers in various regions of the country.
