Salary is a large part of job satisfaction and one of the major reasons for changing roles.
As a job seeker you want to make sure that you’re being paid fairly for the time and effort you put into your work. You also want to make sure that your salary and working conditions are in line with current market conditions.
As expert ICT recruiters, we have the latest salary information at our fingertips. A Spark Consultant can discuss what your skills and experience are worth in today’s job market. Contact us today.
The great salary debate: know what you’re really worth
"I'm not paid what I'm worth." Who hasn't said this at least once? We certainly have!
Let’s cut to the chase. As recruiters, salary is the hottest topic we’re asked about. The media, business leaders, hiring managers and job seekers all want to understand the latest developments and trends for Australian salaries. Essentially, we all want to make sure we’re being paid the right salary for the job we’re doing.
With the economy back on track, Australia’s IT employment market is making a comeback. As a jobseeker, you are better able to change jobs, reposition your career and negotiate a better overall remuneration package. But how do you ascertain what salary is appropriate for you and your job profile?
There are certain basic steps you need to follow to assess your worth:
- Understand your skill competency
- Consider your whole remuneration package
- Compare your salary online
- Discretely & honestly share salary information
- Speak to a recruiter who specialises in your field
Understand your skill competency
As the IT employment market is so skills-specific the more advanced your skills are within your chosen specialism, the more you are worth to both your current employer and potential employers.
Consider your whole remuneration package
As part of your salary you should also consider core factors such as flexible working hours, location, opportunities to work from home, plus additional benefits such as more annual leave, health packages, training and development opportunities.
Compare your salary online
ICT job seekers can also benchmark their expectations with a variety of online salary comparison portals. [Link to Salary Portal at bottom of page] These tools can provide a rough salary guide based on your sector, work experience and education. But beware of completely relying on online approximations - you cannot base your decisions on these alone. Also consider your own circumstances and preferences.
Discretely & honestly share salary information
If you graduated five years ago, you could check with your university friends to get an approximate market valuation. You can make a more accurate comparison with a friend working for the same company doing a similar role but be cautious about who you ask as salary is a highly sensitive subject. Make sure you don’t breach your contractual obligations around confidentiality.
On the whole making comparisons can be fraught with risk. Often what you feel you deserve may be coloured by wrong comparisons or your personal definition rather than the market value.
Speak to a specialist recruiter
Ultimately you are only worth what the market is prepared to offer you. Find out if your salary goals are realistic by talking to Spark and prospective employers.
Tips for negotiating IT salaries
- Be open with your current employer
- Consider incentives & non-cash benefits
- Identify your salary goal
- Avoid comparing with others
- Focus on what really matters
Be open with your current employer
If your only reason for looking for a new job is to get a pay rise we recommend you approach your current employer and discuss this with them prior to entering the job search process.
Be prepared to be open with your employer and be aware of how your performance compares with what is expected of you. Try to be realistic in your requests and prepare to give them some time to accommodate you.
Consider incentives & non-cash benefits
A remuneration package is about more than just your weekly wage. Review the additional incentives and non-cash benefits you currently receive. What are these worth to you? You need to be clear about the overall package you are currently on to ensure you can improve your conditions.
Identify your salary goal
What is your goal and why? Is it a better career opportunity to achieve a higher worth in 3 years time or is it more cash now and worry about career later? Be clear and consistent on this through your job search process.
Avoid comparing to others
There will always be someone being paid more than you are for doing what you perceive to be the same thing.
First, remember that people aren’t always completely honest when it comes to discussing salary. What hidden factors can’t you compare?
Focus on what really matters
As long as you are achieving your financial goals and are happy at work that is all that matters. Having the highest salary does not always ensure the highest job satisfaction!
For expert insight around I.T salaries talk to one of the Spark Team.