This month of April is when some of us might be looking for new opportunities after receiving our year end bonus for the previous fiscal year. All of us here have various reasons for leaving our current employer, be it due to the people you are working with or thinking of career advancement or even switching industries completely.
For those embarking on a job search or thinking of negotiating their current salary package with their current employer, the inevitable question on everyone’s mind will be what is the salary compensation package you are looking for.
From my experience, stating that your compensation package is “negotiable” does not cut it with the recruiters. Neither does giving them your ideal figure, you will be in a disadvantageous position as you are “revealing your cards” to the recruiters even before you have a chance to showcase your talent during the interview.
The recruiter can either:-
(i) Offer you a compensation scheme that is less than their original budget if your expected salary range is lower than they expect
(ii) Drop you from the candidacy for the position if your expected salary range is higher than what they have in mind
(iii) Work on your current salary to package a slight raise
I acknowledge that you will eventually have to submit your current payslip to the Human Resources for verification. Nonetheless, try your best not to reveal your salary figures during the initial stage of the recruitment.
Read: How to Negotiate Your Salary and How to Prepare Your for a Job Interview
Many times, we would like to determine the budget allocated for the job before we consider applying for the position. My Career’s Future by Singapore Workforce Agency has published a report to inform Singaporeans how much they should be earning based on their industry in the particular year. It is especially useful given that it is the official statistics published by the Singapore government.
My Career’s Future also has tips for readers to land their preferred roles, how to grow in their career and for employers for interviewing their potential candidates.
Nonetheless, there are other sources to find out your job sectors market range. They include Glassdoor, PayScale and job recruiting sites such as Hays and Robert Half.
Read: Passive Income Ideas that Anyone Can Try
Are there any sources which you use to find out what your industry is paying? Please share with our fellow readers by leaving a comment!