Learn How to Estimate Your Salary When Job Hunting

Are you aware of how much you are worth on the job market, or how to figure it out? If you are in search of a job, it is essential to know where you stand regarding salary in the market. It is also important if you are already employed, so you know if you are being paid your worth. Estimating your salary will help you to better target job opportunities and also feel more comfortable when negotiating with employers.

Estimating salary: do you know how to evaluate it when looking for a job?

Everyone should have an idea of what they are worth in the job market. Estimating your salary should be the first step in your job search. The goal is to “know your worth in the market at the moment,” explains Uncle Karim, and to apply efficiently for positions that match your financial expectations. It is also to avoid being paralyzed by the simple question: “What are your salary expectations?” This question will come up sooner or later in the process, so it’s best to be prepared.

Candidates are often afraid of missing out on job opportunities and try to go for a salary range that is too low. “Knowing your worth on the market BEFORE beginning negotiations is fundamental[…] Arriving at an interview unarmed is taking the risk of accepting a salary that is lower than what is practiced,” admits Uncle Karim. Employers take advantage of this lack of knowledge, and employees often fall into the trap. Once you have signed your contract, the margin for increasing your salary is reduced. It is important to know that annual increases only amount to 5-10%. In any case, estimating your salary guarantees that you will be more comfortable asking for what you truly deserve.

Salary estimation is a complex analysis

However, estimating your salary is not so simple and depends on several factors. For example, public officials have a separate salary range. Additionally, depending on the industry, the function, your experience, and your skills, salaries can vary significantly. “There are communication officers who earn €32,000, while others earn €48,000,” says Uncle Karim. Unfortunately, companies or the market do not always play fair.

Only 30% of employers give an idea of the salary in job ads, according to data from Les Echos. If companies do not disclose salary information, it is to keep control over negotiations and try to lower the salary. Additionally, it is to avoid conflicts with other employees who may be paid less than the advertised salary. Finally, it is to encourage candidates to apply. If the remuneration is too low, some candidates will look elsewhere. However, mentalities are evolving, and more and more employers are trying to be transparent, just like our English neighbors.

There is a simple concept to understand: the more important your function and the more profit you bring to the company, the higher your salary negotiations can be. Your added value in the company is the best negotiation power. For example, if you were a dentist or received dental training and then became a marketing manager at a dental prosthesis manufacturer, you have great value because your profile is rare.

Money and remuneration are taboo subjects in France. It is no secret that French people are not comfortable talking about money, it is “more taboo than sex.” Therefore, this does not favor openness and transparency, which benefits employers. “It’s a taboo cultivated by companies. If you don’t know your worth, it’s much more difficult to negotiate.”

In conclusion, it is crucial to estimate your salary before applying for jobs or negotiating with employers. You must know your worth to avoid falling into the trap of being paid less than what you deserve.