It’s the reason why we work, isn’t it?
Money is one of the most important drivers in our day-to-day life. This is why the conversation with your current or potential employer is so daunting. Everyone struggles with finding the sweet spot when it comes to money. An informed approach to ‘money talk’ is best because asking for too little, you are undervaluing yourself and asking for too much may be a real turn off.
What happens when you sell yourself short in a role you’re qualified for? You’ll likely resent the decision and be on the lookout for a new job in close to no time. On the contrary, if you ask for the moon right off the bat, you risk coming off as purely money-driven in a global HR climate where company values culture fit, professional growth, and intrinsic motivators.
So, should you avoid the topic altogether? Definitely not! Let’s look at what Career Contacts President & CEO, Natasha Jeshani had to say back in 2018.
In her blog post, Natasha mentioned three key stages in which money comes up during a job search.
- 1. During the Initial Interview Stage
- 2. During the Offer Stage and;
- 3. At the end of the probationary period
I’ll expand on each of these a little further. By the end of this, it’s my hope that you, the reader, feels empowered to advocate for yourself in your own way.
During the interview stage
Money at the initial stage helps sets your target – the type of role you’re looking for, the industry, and maybe even the type of company. It also helps you set and work towards goals if you’re not quite where you want to be yet.
A good agency will be transparent about salaries and unless there is a really good reason not to, should always be posting the salary bands for each role to ensure there is pay equity.Natasha Jeshani
During the Offer
Congratulations! Making it to the offer stage means you’ve made quite the impression with your prospective employer.
Pro tip: provide your expectations in the form of a range.#yourcareercontact
There are numerous factors (i.e. benefits, flexible schedules, office perks) that can impact total compensation and ultimately, total consideration before you sign any offer. Also, take a look at salary guides and ask others in your network for their advice. Money talk is just that – a talk. Keeping the dialogue open will ensure you start your next job on the right foot.
The end of your probation
This brings us to the end of the probationary period. Although not as common, this might be a good time to leverage the past three to six months of work and effort you’ve put into this new role. A probationary period is a trial for company fit and to me, it is also a “prove it” time to showcase your value add.
I recommend to everyone that you keep an open line of communication with your employer. It can also be a creative process. For instance, you might be willing to start on the lower end of your range but with an increase after the probationary period if you perform well.
Don’t be discouraged if the conversation isn’t going the way you expected, instead, ask questions and seek out new skills to help you get to where you want to be.
Remember, a good employer will offer you fair compensation for work done but a great employer will work with you to reach your goals.
Thanks for tuning in!
Jeff So, HR Consultant