You’ve probably already asked yourself before: should I include salary information in my job postings? This is a common question among recruiters, and indeed a confusing one. Revealing a salary that some find too low might repel interesting candidates, while disclosing a high salary could result in a surge of unqualified applications. So what should you do? Let's first define what competitive pay means, then review the benefits of disclosing salary information in job postings.
Here’s what’s in store:
- How to keep abreast of industry standards
- Reasons to disclose salary in job postings
- How to disclose salary in job postings
- How to pitch a job without mentioning salary
How to keep abreast of industry standards
Many job postings mention competitive pay. But what does that really mean? Competitive pay refers to a compensation package that is equal to or greater than the industry standard for similar jobs in the same geographical area. A company offering competitive pay will be ready to compete for top talent and is most likely willing to negotiate salaries.
Unfortunately, not all companies claiming to offer competitive pay actually do. The term is meant to attract applicants but can lead to false hopes and confusion. Before posting a job and starting the interview process, make sure you know have a good idea of how the salary you’re offering fares compared to others. Not sure where to start?
One of the tools you can use to find out if the salary you’re offering is lower or higher than the average is a salary estimation tool. Using data from online job postings, a salary estimation tool enables you to research and compare average salaries across industries and regions, so you can have a precise and detailed idea of where you stand.
Reasons to disclose salary in job postings
1. Candidates want to know
Through our extensive research on candidate experience and candidate personas, we’ve uncovered the most recurring frustrations among job seekers, one of which was a lack of information regarding compensation. It can be frustrating to go through the entire interview process to discover that the salary is not what they had in mind. Job seekers prefer to have as much information as possible before applying.
2. It gives you an edge
“Knowledge of compensation is key” says Daniel Kijewski, Talent.com’s Director of Enterprise and Staffing. In industries like retail or delivery, “50 cents could be the difference between being a leader or a loser,” he adds. Being upfront about salary, bonuses and benefits can give you an edge over the competition and make users more likely to click on your job postings, learn about your company and apply.
3. It attracts passive candidates
Passive candidates are often already employed, with industry experience and sought-after skills, but they rarely apply, which makes them hard to recruit. A salary, especially a high one, could be the defining factor that makes a passive candidate apply.
4. It shows transparency
The job seeking experience can be daunting. Candidates are looking for good wages, of course, but they are also looking for companies that will treat them well. By disclosing salary in job postings (whether low or high), you are being transparent from the start, which bodes well for the future and solidifies your reputation as an honest company.
5. It saves time
Displaying salary information on your job postings can save you time without you noticing, as it serves as an extra candidate filter.
How to disclose salary in job postings
1. Provide a precise range
Instead of an exact salary, you can provide a range. For optimal results, make it as precise as possible. For instance, if the range is between $50,000 and $70,000, divide it in three parts and clearly state which experience level lands a candidate on which salary. This will ease job offer negotiations and give candidates information about their potential future within your organization.
2. Do not write the salary in the job title
There is no need to write the salary in the job title. It can actually be seen as tacky and lower your chances of receiving clicks. Most job boards and job posting platforms have a designated box where you can enter the hourly, weekly, monthly or annual salary. Using this box ensures that salary appears in the right place and leaves space in the title for additional information about the job, such as the seniority level required.
How to pitch a job without mentioning salary
Salary is important, but it is not everything. If you are not able to disclose salary information, you can still have a super attractive job posting: focus on your strengths. Ask yourself: why should job seekers pick you over the competition? The answer to this question can become the focus of your employer branding efforts. You might not be able to offer a high salary, especially if you’re a small business just starting out, but you can provide more in non-monetary rewards such as the opportunity to participate in the growth of your company and gain start-up experience. You can even begin your job posting with your company’s perks and benefits to pique interest.
As seen above, disclosing salary in job postings has many perks: it aligns with candidates’ wishes, gives you an edge over the competition, attracts passive candidates, shows transparency and saves time. It’s also best to provide a range and to write it in the appropriate space. And if you can’t disclose salary, focus on your other strengths to attract candidates.
Talent.com is a leading job search and recruitment platform available in 78 countries. We help you post jobs, craft personalized digital campaigns and track performance to reach your hiring goals. On this blog, we use our industry expertise to inform and guide you in the development and implementation of your recruitment strategy. Follow us on LinkedIn or subscribe to our blog to get the latest scoop on job seeker interest, hiring news, job market trends and talent acquisition technology. Looking for advice to maximize your recruitment ROI? Contact our team of experts today.