What's Your Current Salary? Here's the Right Answer!
Marc Miller
Career Pivot | Author of Repurpose Your Career A Practical Guide for the 2nd Half of Life | Forbes Top 100 Career Website | Podcast Host & Producer of the Award Winning Repurpose Your Career Podcast
What is your current salary?
I’m sure you have been asked early in the interview process, “What is your current salary?”
If it was up to me, I would have everyone respond indignantly—None of your %^%#(& business!
However, that does not work in our current work environment.
So, how should you answer the question, “What is your current salary?”
I have a client who, just the other day, was asked this by a recruiter. It was the beginning of a series of interviews or, as I call it, she was going to run the gauntlet.
My client very politely said it was early in the process and that she would discuss salary later. It was all about total compensation, benefits, yada, yada, yada. Pretty standard response.
The recruiter persisted in wanting to know. She finally said, we need to know whether we can afford you. What is your current salary?
My client broke down and told her, but added twenty thousand. It turns out that this was in her range. Padding your current salary in the interview process is not something I condone!
I told my client I would have turned it around.
Oh, you want to know whether you can afford me. What have you budgeted for this position and I can tell you whether you are within my range?
Make them give you a number!
For more read: Negotiating for What You Want!
What are you worth?
I wrote in a post called Managing Your Career is Like Selling a Vintage Fiat that a car is worth what someone else is willing to pay. Plus, you only need one buyer!
You are worth what a company is willing to pay you. That amount has nothing to do with your currently salary. This is particularly true if you have worked for the same company for 5 or more years.
Relocating
Salaries can vary a lot based on location. Living in Austin, Texas I have had many discussions with Californians moving to Austin. They needed to understand that, if you move from San Jose to Austin, the salaries and cost of living will both be a lot lower.
Check out sites like Glassdoor.com and Salary.com for salaries in the area where you plan to relocate.
For more read: Sales Strategies for Managing Your Career
Ask Around
In today’s work environment, it is perfectly acceptable to ask what someone makes. This is a big departure from when I started working in the 1970s where it was both taboo and could be a fire-able offense to disclose your salary. In fact, a few companies are making all of their salaries public.
Determine a fair salary range that you would be willing to accept.
Salary is not everything!
What else do you want? You will need to determine how much Paid Time Off (PTO) you want. How much are you paying for health insurance and is your spouse currently covered on your plan? He/she may not be when you change jobs. Many businesses are dumping insurance coverage for your spouse.
For more read: Evaluating the Job Offer – What is Missing?
So what is your current salary?
If they insist on knowing your current salary, you can say,
“I am looking for $xxxx in salary, but I will be evaluating the entire compensation package, which includes, salary, bonus, and benefits.
Do not tell them your current salary, but what you want to be paid!
If you have experienced this issue how about sharing this post by "liking" the post, writing a comment or sharing on LinkedIn, Twitter or Facebook!
What is Your Current Salary? How to Answer! was originally posted in August of 2014 on the Career Pivot blog.
Marc Miller is the founder of Career Pivot, which helps Baby Boomers and others design careers they can grow into for the next 30 years. You can follow Marc on Twitter or Facebook or LinkedIn.
Marc authored the book “Repurpose Your Career: A Practical Guide for Baby Boomers.
VP Product Management
8yCompletely agree with this blog post. Salary history is nobody's business but yours. Why a future employer would need to know what any number of previous employers paid you is beyond me. What if your previous employer paid you $5K / year? What if they paid you $5M / year? Would that information change what they are willing to pay you? If yes, they are fools. If no, then it is irrelevant and they don't need to know. Having worked as an independent consultant for over a decade, I always respond to this type of inquiry with my expected compensation and indicate that details of past compensation are confidential.
Vice President Supply Chain and Manufacturing Operations
8yThis article is helpful because this question is frequently asked. However, part of me thinks a direct answer is much more efficient seeing as most recruiters are asking the question.
Chef at Sodexo
8yDear Sir, how r U? We work together with Carnival legend where I was DCDP and you worked as a F&B Manager.in 2006.Anything for me?
Senior HR leader, talent cultivator and people champion
8yIt is interesting to see companies asking this question even before the candidate gets to the screening and interview process; the question is appearing more frequently in the online application process.