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Resume Tips: How To Determine & Articulate Your Salary Requirements

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Resume Tips: How To Determine & Articulate Your Salary Requirements

Resume Tips: How To Determine & Articulate Your Salary Requirements

Resume Tips: How To Determine & Articulate Your Salary Requirements

Job seekers are often faced with the dilemma of whether or not they should include salary requirements in their professional resume. For those of you pondering the pros and cons or trying to determine an appropriate salary range, we have compiled a list of tips to help you make an informed decision.

Don’t Limit Your Options (and Listen to the Employer)
It’s admittedly risky to mention salary requirements in your resume unless the prospective employer has explicitly requested it. If you are unfamiliar with the job description, the industry standard, or the employer’s expectations, you may not have a realistic idea of appropriate salary ranges. Including a salary range in your resume at this preliminary stage of negotiation may risk identifying you as ignorant or impractical. Furthermore, it may automatically eliminate you from the employer’s hiring pool, convey your dissatisfaction working at a lower salary, or trap you into accepting a weak compensation package.

Research
Should the employer request a salary range in your resume, be sure to conduct adequate research beforehand.

  • Industry is everything: Survey your specific industry to determine the salary standard based on the potential job and its responsibilities. Also, examine the supply and demand within your industry; is the market flooded with identical talent competing for just a handful of positions? If you possess a rare skill set within your industry or if the demand is high, employers will be more likely to offer high compensation packages.
  • The cost of living: Salaries will differ depending on location, so research the cost of living in your employer’s state. For example, financial advisors in New York are compensated at a higher rate than those in Arizona since the cost of living differs between these two states.
  • Cost to Company (CTC): Determine the total CTC for your profession by researching the overall compensation structure for your industry. This includes factors like benefits and commission, as well as salary.

Define Your Qualifications
When employers or executive recruiters examine your resume to help determine their salary offer, they will be looking for skill sets and experience that place you above your competition. To position yourself for a higher compensation package, ensure that relevant competencies are bolded on your resume.

Articulate Your Flexibility
If you choose to define a salary range in your resume, consider stating that it is negotiable based on the overall compensation package, which may also include benefits. Additionally, be sure to allow flexibility within your stated salary: drawing upon industry research, quote a range that includes your real salary expectation as a base line and increases to the higher end of the industry standard, e.g. $50,000 (your expectation) - $75,000 (your industry ideal).

How to Phrase Your Salary Range
Per your request, I have researched the industry based on your job requirements and concluded that $50,000 - $75,000 (without benefits or supplements added) is a fair range. This salary package is flexible based on the potential for career growth, overall compensation, and additional factors.

Resume Tips: How To Determine & Articulate Your Salary Requirements

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