Lucy Rider shares her insight on how to know if you’re being paid the right amount
The Challenge: How to know if you are being paid the right amount and how you should pitch yourself in terms of remuneration to a role, especially on a semi-remote basis.
The Solution: Do your research, both online and by speaking to recruiters!
With an increase in roles that can be worked on a semi-remote basis, I’m seeing applications from candidates much further afield, but many don’t necessarily consider that it’s not as simple as adding a certain figure to their current package.
For example, I regularly receive applications from London-based candidates who have considered the logistics of a role that would require them to grab a train to Leeds once a week but haven’t necessarily calculated the cost of that commute and potential hotel stays, as well as the regional differences in salary. I’m always transparent in my adverts for the salary or rate that is on offer, but when I discuss this with many candidates in the South, they tend to conclude that it’s not feasible to maintain a London cost base and receive a Leeds-based salary. Equally, it’s important to reflect on the reverse scenario and make sure you aren’t being underpaid if you are spending money to commute to a role in the South.
The more research you can do, the better positioned you are to effectively run your search for a new role and get paid at the right level for your skills and experience.
Do a comprehensive search for adverts that match what you are looking for, and benchmark the salaries advertised with what you are looking for. Do they look like a big leap or a backward step? Take the pragmatic view that if something looks perfect but the salary isn’t quite right, then a quick call with the recruiter is time well spent, as they may not have pitched it right or there might be other factors not covered in the advert.
Speak to local recruiters; this is especially important if you are relocating, as they will know what the market is like in their areas. For example, when I see candidates looking to move from London to Leeds, there can be around £10 – 30K differences in terms of salary expectations. It’s worth finding out how your skills and experience will fit into the market.
If you find many jobs advertised that look similar to yours that are paying more, and a pay rise is your main push factor in looking for a new role, take them to your line manager and have an open conversation to see if they can consider increasing your salary. Hiring a replacement is always more costly than retaining a good member of staff, especially if you are competing with other employers in the market who are already paying more.