Why Do Companies and Recruiters Want to Know My Past Salary? | NoBSJobSearchAdvice.com


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https://www.blogtalkradio.com/thebiggamehunter/2019/09/24/why-do-companies-and-recruiters-want-to-know-my-past-salary

EP 1594 There are several reasons why companies are recruiters want to know your salary and few of them benefit you.

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Hi! I'm Jeff Altman, The Big Game Hunter. I'm the head coach for JobSearchCoachingHQ.com and NoBSCoachingAdvice.com. Welcome to Job Search Radio. I like to spend a few minutes frequently talking with you about some element of job search because I believe that job hunting doesn't have to be hard, difficult, painful or take a long time. It's just that the skills needed to find the job are different than those needed to do a job. Thus, when I do the show, I'm just trying to address a few the things that will help you perform at a higher level and understand how the system works.

Someone wrote to me and asked, "Why do companies a recruiters want to know my past salary?" Very valid question from you. For them, there are very valid reasons to know.

1. They want to correlate what your current salary is with people internal to the organization to see how you match. I'm going to pick numbers at random. Let's say, you heard $100,000 and do what someone internally to the organization does who earns $70,000. There is no way that they are interviewing you.

Another reason they do is to see whether you were that their price points. To see whether your within the budget that they are interviewing for. Again, let's say you make hundred $150,000 In the position goes to $130,000. They know you're not going to take a $20,000 reduction salary and they are not prepared to pay more. Why would they continue or even have a conversation? It makes no sense.

Now let's look at the scenario where you are within budget. The job goes to $140,000 and you are early $125,000. Generally, firms have theorems or formulas as to percentage increases that they can offer (I want to understand that these are "targets" and some firms will exceed targets when they extend offers. Don't take this is being cast in stone). Let's say you earned $125,000 in the position goes to $140,000. Their ideal rate for salary increases 5%. Let's say that will propose a $7500 raise a 5%.. Thus, they could offer you $132,500 per year or $135,000 And thus you are within the budget. They say $5000. HR looks like heroes. You have gotten increase that, hopefully you would like AND they say, $5000 on what they were prepared to pay.

Notice to firms often don't reveal with the salary ranges. The reason is that if you make $90,000 and they are prepared to pay $130,000 and they offer you $110,000, it's still a very good increase (it's a $20,000 raise), but you ask yourself, "Hey! Why didn't I get $130,000?" It becomes harder for them to close the deal.

Firms are trying to use data that you provide to manage you into jobs, manager expectations, save themselves some time. There is no beneficence in this. It's all part of manipulation that companies do to try and bring you on for the least amount of money So that they can save themselves a few dollars, rather than giving you as much as they are prepared to pay.

I hope you found this helpful. If you're interested my coaching you, reach out to me. The easiest way to hire me is by visiting my website, www.TheBigGameHunter.us. The top of the page, look for the tab that relates to coaching. I do a variety of different forms, including working with you over the life of the particular search and they do have packages that I offer that allow you to hire me for less per hour my time.

Or you can hire me to critique your resume and/or LinkedIn profile, Prepare you for interviews, help you with salary negotiation just purchase time because you would like advice for me. There are many different ways that you can approach me for help.

I hope you found this helpful. I hope you come to me for coaching.

That's today show, I hope you find it helpful not be back soon with more and in the meantime, have a great day. Take care.

ABOUT JEFF ALTMAN, THE BIG GAME HUNTER

Jeff Altman, The Big Game Hunter
Jeff Altman, The Big Game Hunter

Jeff Altman, The Big Game Hunter is a career and leadership coach who worked as a recruiter for more than 40 years. He is the host of “No BS Job Search Advice Radio,” the #1 podcast in iTunes for job search with more than 1500 episodes and his newest show, “No BS Coaching Advice.” He is a member of The Forbes Coaches Council. “No BS JobSearch Advice Radio” was recently named a Top 10 podcast for job search. JobSearchTV.com was also recently named a Top 10 YouTube channel for job search.

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NoBSJobSearchAdvice.com
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