What if a Company Asks for a Salary Range?
Although it’s not guaranteed, during a job hunt some employers may ask you to provide your requested salary range when submitting your cover letter and resume. If the employer has requested that you provide this range in a specific manner, such as with a separate salary history sheet, it’s best to follow his instructions. Otherwise, the best option is to state your salary range in your cover letter.
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Research
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Prior to informing the employer of your salary range, it is important to conduct research and consider all factors that might affect the salary you earn. If you consider the position a “step up” from the job you currently hold, of course you might expect a higher salary. However, not all companies set identical salaries, even if the positions are similar. Contact the company’s human resources department to ask what the pay for the position you are interested in has paid in the past. Also consider the experience level of the employer who held the position and whether he had more or less experience than you. Finally, consider the cost of living in the area if you are relocating for this job.
Negotiation
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While not mandatory, it is usually best to let the employer know that you are willing to negotiate your salary if hired. Explicitly indicating unwillingness to participate in salary negotiation is inadvisable and gives the impression that you are not flexible and possibly not easy to work with.
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Options
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Including your salary range in the final paragraph of your cover letter is the most ideal way to respond to the request. State your range, such as “$40,000 to $44,000” or “in the low 40s” and thank the employer for his time and consideration. In some cases, the employer may wish to see a salary history in order to decide on an acceptable salary range. In this case, the best option is to create a separate “Salary History” page to accompany your resume, which should include starting and ending salaries at your present and previous jobs. While some job seekers simply ignore salary range requests and wait until the interview to discuss compensation, doing so means you run the risk of giving the impression that you are unable to follow instructions.
Other Factors
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Salary is only one part of compensation. When presenting your salary range and during the negotiation process, consider other factors, such as the benefits package the company offers, the amount of vacation time you will receive and whether there are any perks with the position, such as a company-provided car, laptop or phone, or discounts on products the company sells.
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