Job seekers are not only interested in workload, work environment, or company culture, but also in the salary they will receive. A competitive salary is always a goal for employees, and it's a term companies prioritize using during the recruitment process. So, what exactly is a competitive salary? Why are more and more recruiters using this term in job descriptions (JDs)?
1. What constitutes a competitive salary?
If you're looking for a job, you'll undoubtedly come across job postings mentioning competitive salaries. Simply put, a competitive salary is the amount a company pays its employees, which may be equal to or higher than the market average.
Companies with high hiring needs will offer higher competitive salaries compared to companies with sufficient resources. In addition to the base salary, employees also receive other benefits. A company might pay its employees less than others, but they focus more on employee benefits.
2. Why are more and more recruiters using this phrase in job descriptions?
In some cases, when an employer mentions a competitive salary, you can understand it as an open opportunity. The company won't give a specific number, and you can absolutely negotiate your salary with the employer during the interview.
Sometimes, employers use this phrase to protect employee information. Revealing income levels not only affects the individual employee but also the company.
Salary is a crucial factor in determining whether candidates apply for a job. Therefore, some employers take advantage of this to attract potential candidates, especially those seeking high-paying jobs.
3. Advice for candidates
Before accepting any job, consider the salary offered by the employer. To determine if that salary is reasonable, research the average salary in your area. You need to know the minimum salary you can expect to receive. Don't forget to consider other factors such as labor insurance, a 13th-month salary, bonuses, annual leave, etc.
Once you know your salary expectations, you can negotiate with the employer during the interview. You can let the employer present specific figures first, then state your desired amount, or you can answer directly when the company asks a question.
However, remember that your proposed figure won't always be accepted, as salary is always commensurate with your experience and skills. In that case, use your knowledge of the job market to further discuss the matter with the employer. If you are a strong candidate, employers will certainly do everything they can to meet your requirements. Therefore, don't give up immediately if you are rejected.
A competitive salary is always a top priority for job seekers. Understanding this, employers have incorporated competitive salary strategies into their recruitment process to attract a larger number of applicants and select the most suitable candidates.
Source: Compiled
