What does competitive salary mean?
What does it mean when job adverts say ‘competitive salary’? Is this a good thing, or something to avoid?!
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What does it mean when job adverts say ‘competitive salary’? Is this a good thing, or something to avoid?!
If you’re in the middle of applying for jobs, you might have noticed some jobs don’t tell you the salary. Instead, they just say ‘competitive salary’. This may leave you feeling a little frustrated. After all, you don’t want to apply for a job that doesn’t pay you enough.
So in today’s blog, we’re giving you the inside scoop on competitive salaries.
A competitive salary means the company pays the average salary (or above) for the role.
There are a couple of different reasons why companies choose to write ‘competitive salary’ rather than specifying an amount.
The first reason is that the salary is likely to be negotiable. Some companies don’t want to put people off by listing a low salary because they’ll pay more for the right person. At the same time, they don’t want to list a salary that’s really high. Believe it or not, but this can put some people off from applying.
The second reason is that the company may want to keep the salary confidential. Many companies don’t like when employees discuss their salaries. They prefer to keep this information confidential. But you should know that you can always ask your colleagues about their salaries.
At some stage in the process, you’ll want to ask the employer for more information about the salary. At this point, they should be able to tell you a salary bracket.
It’s important to gauge the going rate for your role in your area. To do this, you can check other job adverts online or use salary checkers.
Important note
Average salary checkers aren’t black and white. You should remember that salary isn’t just about the job title and location. Your experience and level of qualification will also affect the salary you’re entitled to. For example, a software engineer with just 1 year of experience wouldn’t expect to earn £72,500. The average salary for a software engineer with 1 year of experience will be much less than £72,500.
If you find out before the interview process that the salary is too low, here’s what you do:
If you find out the salary is too low after you’ve been interviewed, you’ll need to negotiate your salary:
Seeing ‘competitive pay’ on a job ad isn’t a bad thing. It often means the employer is open to negotiation and will pay for the right candidate. But it’s important to get clear on the salary bracket as soon as possible. You don’t want to waste your time or the employer’s time if your salary brackets are total opposites. So always gain clarity on the salary bracket at your first opportunity!
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