What should your desired salary amount be?

One of the main reasons people choose to change jobs is because they want a little more money – but how much more? Let’s learn more about how to respond to the desired salary question.

Let’s face it, salaries are usually a key factor in our decision making when it comes to switching. It’s only natural to want fair compensation. You might also change jobs for more responsibility, flexibility, a greater sense of purpose or a more suitable organisational culture. 

However, most often employees move because they feel they’re not being paid adequately in their current role. This can be due to the skills, experience and qualifications the individual has, and therefore command the higher salary they think they deserve.

When speaking to a recruiter or hiring manager during your job search, it doesn’t pay to inflate your salary too much. Your requested figure could potentially price you out of the market, lead the hiring manager to think you are over-qualified, or make you look unfaithful or devious.

So, what is the alternative? Rather than thinking “What’s my current salary” with an inflated figure, you should focus on your “desired salary” amount. 

Here, we’ll cover how you can determine what this figure should be.

Desired salary at a glance

A desired salary is what someone with your combination of skills, experience and qualifications could reasonably hope to earn. This is a figure you could aim for when job searching or discussing salary with a recruiter.

It’s essential that the desired salary you share be a realistic reflection of the market rate for the types of roles you’re interested in. However, knowing what your desired salary is can be hard. To help determine yours, you’ll need to do a little research.

Look at our salary guide

Your first thought should be to look for an up-to-date salary guide. Here at Hays, we publish an annual salary guide. It provides valuable yearly updates on typical salaries for specific roles, as well as location and industry. Download your copy of the Salary Guide here.

Speak to people in your network

Do you already know someone in a similar role who you could ask about current compensation trends? By speaking to people in your potential new sector or industry, you may find that a great deal of advice and experience is only a phone call away.

Speak to a recruitment consultant

As consultants speak to both employers and candidates daily, they will guide you on a potential desired salary. Take advantage of their detailed and accurate insights, tailored to your skills, experience and qualifications.

Look at job boards for salary insights

There’s also a wealth of information available online. Take to the job boards to compare similar roles and salaries by reviewing advertisements.

Remember, your salary is only one aspect of many other factors

When looking at a new job offer or determining your desired salary, there are several other important factors to consider. Things like employee benefits, pension contributions, medical insurance and other non-financial incentives are all important considerations in the overall picture. It can sometimes even work out better to sacrifice some salary for a generous benefits package.

When considering an offer, estimate the value of the benefits proposed and add these to the base salary. Remember, some benefits may not be obvious when going through a job application – speak to your recruitment consultant to clarify any offer if you’re unsure.

What to remember about desired salary

When we don’t feel like we’re achieving our full salary potential, we might decide to look for new opportunities. This is especially true if we feel we have developed the skills, knowledge and experience to take on a more challenging role. To find your desired salary for a new position, consult a salary guide or speak to a recruitment specialist.

Remember, you may not just have to change your job to receive your “desired salary”. If you’re happy with your current role, arrange a time to speak to your manager about a potential pay rise. If you don’t feel comfortable about speaking to them, take a look at the advice we’ve provided on how to negotiate a pay rise.

Finally, be accurate in your approach. Whether it’s talking honestly with your manager or going in a new direction, a realistic desired salary can help you apply for the roles that actually deliver what you’re worth.

For more information about the latest recruiting trends, download your free copy of the Hays UK Salary & Recruiting Trends 2022 here. You can also find more career advice on our website.