How broad should a salary range be?

Asked By: Canto Prolubnikov | Last Updated: 15th June, 2020
Category: careers resume writing and advice
4.2/5 (149 Views . 30 Votes)
A traditional salary range is commonly 30 percent to 40 percent. It is common that top salary grades (i.e., for executives and top management) have a wider range (sometimes greater than a range of 40 percent) and that the lowest salary grades often have the narrowest range (sometimes smaller than 30 percent).

Click to see full answer

Also question is, how wide of a salary range should I give?

A good rule of thumb is to keep the lower end of your range at least 10 percent above your current salary, or the number you determine is a reasonable salary for the position. For example, if you currently earn $50,000, you may say that your range is $55,000 to $65,000.

Subsequently, question is, what does a salary range mean? Salary range is the range of pay established by employers to pay to employees performing a particular job or function. Salary range generally has a minimum pay rate, a maximum pay rate, and a series of mid-range opportunities for pay increases. The salary range for lower-level positions is normally the narrowest.

Also question is, what are your salary expectations for this position?

You can try to skirt the question with a broad answer, such as, “My salary expectations are in line with my experience and qualifications.” Or, “If this is the right job for me, I'm sure we can come to an agreement on salary.” This will show that you're willing to negotiate. Offer a range.

How do you propose a salary range?

In your proposal, state your current salary, followed by data comparing your current salary to the market rate. Propose a salary range, also based on your research. 7. Calculate a starting salary range if you are in salary negotiations for new job.

27 Related Question Answers Found

What is a good salary 2019?

Using information from the fourth fiscal quarter of 2019, the BLS claims that in that quarter, the median income for a full-time wage or salary worker on a weekly basis was $936. For a 40-hour work week, this translates to a yearly income of approximately $48,672. This is a 4% increase on the previous year.

What is your desired salary?

What to Put for Desired Salary on Job Applications. The best way to answer desired salary or salary expectations on a job application is to leave the field blank or write 'Negotiable' rather than providing a number. If the application won't accept non-numerical text, then enter “999,” or “000”.

How do you provide salary requirements?

Tips for Including Salary Requirements
  1. Do your Research. Learn as much as you can about the position and compare salaries with other companies and similar job titles.
  2. Give a Range.
  3. Start with a High Number.
  4. Don't Sell Yourself Short.
  5. Be Aggressive.
  6. Be Flexible.

How do you calculate salary?

Factors to consider in determining this rate include:
  1. market band placement.
  2. applicable knowledge, skills, and abilities.
  3. relevant experience.
  4. general market conditions.
  5. other considerations (budget, legal, internal pay relationships)

What is a good pay?

In general $100,000 or above is considered a good salary in the US. That might not be that good in New York City or San Francisco, and $50,000 might actually be a good salary is many rural parts of the country. $100,000 is a "good" salary for most of the country, including most small to medium sized cities.

Why are salary ranges?

A salary range gives companies a system to pay employees consistently for the work they do in a given position. The range usually allows for differences in education, experience or performance. However, employees in the same type of job know they earn pay that is relatively similar to colleagues.

How accurate is payscale?

Glassdoor salary information is self-reported and not verified, therefore some salaries are likely not correct. The better sources are the U.S. Bureau of Labor Statistics and Payscale.com. Salary details on Glassdoor are more likely to be accurate for larger companies with many reviews versus smaller companies.

How do you discuss salary in an interview?

To sum up, here's what you need to remember when talking about salary in an interview:
  1. Know your worth and the forms of compensation that matter most to you.
  2. Use salary resources like Indeed Salaries to study the current trends and learn about the range for this job in your city.
  3. Give a range, not a specific number.

What do you say when a potential employer asks your current salary?

When Your Potential Employer Is Very Persistent
But if you're underpaid, don't hesitate to say so forthrightly: My previous salary was below market value at [current salary], so based on my skill set, experience, and research about this position, I'm seeking [salary range].

How do you answer the question what are your salary expectations?

How to answer salary expectations questions (with examples)
  1. Provide a range. If you don't feel comfortable providing a single number, you may choose to offer a range instead.
  2. Include negotiation options.
  3. Deflect the question.

What are the 10 most common interview questions and answers?

Top 10 Interview Questions and Best Answers
  1. Tell me about yourself.
  2. Why should we hire you?
  3. What is your greatest strength?
  4. What is your greatest weakness?
  5. Why do you want to leave (or have left) your current job?
  6. What are your salary expectations?
  7. Why do you want this job?
  8. How do you handle stress and pressure?

What is your greatest achievement?

'My greatest achievement' examples could include:
  • Giving a great presentation at work.
  • Beating sales targets.
  • Training for and completing a marathon.
  • Organizing a successful charity event.
  • Mentoring a coworker or fellow student.

What is your salary expectation fresher?

When HR ask you about your expectations, answer should be - “Well my expectations is similar to what you pay for freshers for this role”. It will make the HR person think that you know the range and you will be paid similar. Hope this will help you and other fresher who all are looking for job.

How do you handle stress and pressure?

I react to situations, rather than to stress. That way, the situation is handled and doesn't become stressful. I actually work better under pressure and I've found that I enjoy working in a challenging environment. From a personal perspective, I manage stress by visiting the gym every evening.

Why did you leave your last job?

The general rule here is that you should always be leaving to move toward a better opportunity. You should never position it as fleeing from a bad opportunity. Your interviewer wants to feel like her company is wooing you away from your current employer. You should never lie in a job interview.

What is your greatest strength?

Here are a few other aspects of a perfect "what are your strengths" example answer: Your greatest strength happens to be a skill you need to do the job. Your greatest strength sets you apart from other candidates. You show off your communication skills when you provide the answer.

How do you do a salary analysis?

How to Establish Salary Ranges
  1. Step 1: Determine the Organization's Compensation Philosophy.
  2. Step 2: Conduct a Job Analysis.
  3. Step 3: Group into Job Families.
  4. Step 4: Rank Positions Using a Job Evaluation Method.
  5. Point method.
  6. Ranking method.
  7. Step 5: Conduct Market Research.
  8. Step 6: Create Job Grades.