Candidate, Know Thy Worth

One of the more frustrating aspects of searching for a new role is knowing what kind of compensation rate is fair and equitable. This is because there is a culture of secrecy around compensation information in North America. Job seekers are regularly (and incorrectly) counseled not to ask about salary ranges until the very end of the interview process. Some interviewers even regard such questions about remuneration as rude or overbearing, as if people go to work for reasons other than the primary one of providing for themselves and their families. 

I’ve written previously about the importance of talking about salaries among coworkers, family members, and peers. Such ongoing dialogue could go a long way toward increasing pay equity between genders and along racial lines. Employers could help the cause by being transparent about their compensation plans with both current and prospective employees. But we’re not quite there yet. Last week, a Fortune 500 company recruiter wrote this Tweet. It did not go over well:

This recruiter’s intention may have been good, and her advice to always ask for the salary you deserve, no matter how high you think it may be, was spot on. But the admission that rather than sharing the budget for the position, the recruiter simply offered the candidate the lowball salary that she had asked for illustrates the enormous problem in the recruitment process. Beyond the candidate losing out on an additional $45K in compensation, now that this has come to light, it has instilled a sense of uncertainty into anyone else who may have read that Tweet. This calls into question, especially for women and people from marginalized groups, everything they believe to be true about their relationship with their employer. What else are they hiding, and what other inequities exist? Such gatekeeping of knowledge leads to stagnation in an organization. Rather than spending time transforming great ideas into actionable initiatives, employees focus on rumors, suspicions, and, most importantly, finding another organization that will treat them with the respect they deserve. 

Fortunately, there is legislation that may help with the gender and racial pay gap and pay transparency in general. Both California and Colorado passed laws last year requiring companies to disclose pay ranges to candidates. In California, an employer must disclose pay ranges if a candidate asks after an initial job interview. Colorado’s law goes a step further, mandating that companies make available both pay ranges and benefits in any job ad or posting. And, beginning May 15, 2022, a law goes into effect in New York City that will require any company looking to hire in the city to include the pay range in the job posting. 

Until companies are required to share salary information, either because of legislation or competition for talent, it will remain incumbent upon you to know your worth and ask for appropriate compensation. A few online tools can help you, such as Glassdoor’s Know Your Worth, Payscale’s What Am I Worth, and salary.com. To get information that is tailored and targeted to your position and field, talk with your coworkers and industry peers. Arm yourself with this data and clarify the value you bring to the organization and how you believe you should be compensated.