Should you discuss your salary requirements, or disclose your salary history in your cover letter or resume? The answer to that isn’t always clear.
In some cases, the job listing may specifically ask you to provide a ballpark figure. This is often done to ensure that the applicants have requirements that are within the organization’s hiring budget. Sometimes companies need this information to determine a potential employee’s worth. If your previous employer paid you significantly below the industry average, for example, that could raise some red flags.
If there’s no explicit area in the job application form, you may consider disclosing your salary in a cover letter. The tips below will help you to discern how and if you should do that. At the end of this article is a sample cover letter with salary requirements you can use to model your own.
When You Should Include Your Salary Requirements or History
First, if the potential employer hasn’t asked for it, do not include it. Ideally, you should hold onto the salary information until the employment negotiation phase. You should also leave the salary details off if they violate any confidentiality agreements.
Now let’s assume that the job listing asks you to provide salary information. And you do not have any restrictions about disclosing it. If that’s the case, follow our next tips!
Do Research Before Starting Your Salary Requirements
Don’t risk under- or over-selling your salary requirements. Your current salary is just one factor to consider. Do some research to determine the going rates for people in your profession, at your level of expertise and in your area. This way, your request will be in line with market demands.
When you failing to research in advance, you could risk undercutting your ability to negotiate the best possible salary for yourself. If you set the mark too high, you are unlikely to even make it to the interview phase.
Executive Career Coach
Use a Salary Calculator If You Plan to Relocate
If your new position will require you to relocate, take the changing cost of living into consideration. Check local job listings and salary statistics. Or use a salary calculator to determine which figure you should aim for to live comfortably in the new location.
If Your Requirements Are Negotiable, Indicate That
It’s fine to have firm requirements regarding your salary. In fact, it’s even desirable to be very clear about it, if that works for your situation. On the other hand, it can also be good to share that your requirements are flexible. This is especially true if you are unsure of what the perks and benefits of your position will be. You can always write something like:
‘I am willing to accept a salary starting at 35K per year. However, that may change depending on the benefits package that is offered.’
Follow Instructions When Disclosing Your Salary History
Some employers want to know the exact amount of money that you are making. Others want a range. Whatever you are asked to provide, you must follow their instructions. In some cases, they may ask you to limit the information you provide for regulatory reasons.
Quantify Your Requirements
Whether or not your salary requirements seem reasonable depends on the other information you provide. For example, if you are demanding top salaries in your field, you should be able to show that your abilities and accomplishments merit that.
Cover Letter Example With Salary Requirements in .docx Format
Sample Cover Letter With Salary Requirements – Text Format
Dear Mr. Williams,
I am writing this letter to express my interest in the position of Senior Digital Marketing Manager advertised on Indeed. With a decade of experience in online marketing, campaign management, and social media marketing under my belt, I’m confident that I could benefit your company.
In my current position, I worked with a marketing team of 100 staff members. Under my management, we have conceived and successfully executed social media campaigns for several Fortune 500 firms. Personally, I specialize in designing marketing campaigns for social media. This includes the creation of content that is distributed through a variety of online channels including Facebook, YouTube, and Instagram. I am also responsible for coordinating these efforts with other members of the advertising and marketing team. As well, I work closely with our field, sales team leaders.
I have the skills and experience required to help any company create a powerful online presence, and form relationships with customers via social media. The campaigns I create have measurable impacts on social media audience share, website traffic, and conversions. I am a team player, motivating supervisor, and experienced creator. I also have the technical skills required to perform the duties of this position impeccably. This includes the ability to use a variety of marketing technologies.
I currently earn a salary that is within the top 20% of my field. My current salary requirements are between $120,000 and $130,000. This amount is negotiable depending upon the details of any benefits and relocation assistance.
I look forward to meeting you soon. Thank you for your consideration.
If you are asked to provide your salary history, or current requirements proceed with caution. Reveal the information asked of you without disclosing too much. Even more importantly, show that you deserve the pay that you demand by sharing facts and accomplishments within your field.