Through working in the recruiting industry, we’ve learned quite a bit about negotiating pay. While pay might be the number one thing that job candidates are concerned about, pay is the last thing recruiters are concerned about. When we consider sending a candidate to our client, we look at a few things: skill-set, ability to execute and do the work, and company fit.
Several factors influence pay ranges, and budgets for positions vary depending on both the client and the candidate. While a candidate might be looking for a certain salary at a company that expects a 50-hour workweek, the pay will be much different for a company that has a 35-hour workweek. Each company has its own budget for salaries, expectations, and benefits. These are components that both the recruiter and the candidate should take into consideration.
Recruiters should be prepared for candidates to come into this process with some knowledge about salary negotiations. It’s the recruiter’s job to work with the client to make a counter offer if a proposed salary is unrealistic. The salary might be too low or too high depending on the market rate for the position. Recruiters can and should work with candidates to negotiate salaries according to market rates. It’s important to note that clients that don’t pay their employees according to market rates inevitably lose employees to companies with more competitive salaries. This reflects poorly on both the recruiter and their clients.
Job seekers, here’s what you should keep in mind when negotiating pay with recruiters:
Never underestimate the value of honesty. If you show you are someone with ethics and integrity—and allow the recruiter to get to know you for your skills, experience, and professional reputation—recruiters will be more likely to place you. It’s all about company fit.
Know the market and competition. Your role in this process is significant. There is often limited flexibility for negotiation, so knowing your value and being able to assert that value is crucial. There are several salary surveys online that can help ensure you’re knowledgeable about salaries in your field. Use this to your advantage, but keep budget restrictions in mind. The way you ask is most important, so reference your employer’s needs, not your own, in justifying more pay.
Don’t draw out the recruitment process. Prompt responses are crucial in developing a professional reputation. The art of negotiation can be very sensitive, so remember that it is the recruiter’s aim is to find the best candidate for the job in a timely manner.
At Financial Professionals, we handle the negotiating. The recruiter acts as a messenger and will hear honest feedback from both the client and the candidate. When a company hires us to find candidates and fill positions, we know what the budget is. It’s our job to determine whether or not someone is the best candidate for the role, and if we don’t get the sense that it’s a good fit we won’t send that person to the company. We take care of your hiring needs on both ends. Visit our Employers page to learn how we can meet your staffing needs and, if you’re looking for a job, our Job Seekers page. We look forward to helping you find the right match.