Whether you’re looking for a career change, a pay rise or are going for a promotion it’s important to know what is your actual market value. Often when we speak to jobseekers and ask them what their salary expectations are the answer “as much as possible” or variance on it are given, often with a chuckle and pause.
Before embarking on the project of finding the next career move for yourself we advise that you do some homework on what you believe your market value is. Here are some of the places where you can research what typical salary bandings are in comparison to the work you do.
- Job Boards: create a search for your dream job title, location, industry, employment type and hit search.
- Competitors to your current employer: check out their website, and all their careers page links. You could message their internal recruiters or the general careers email inbox to ask about salary bandings
- Glassdoor has a good overview of salary bandings across most sectors: https://www.glassdoor.co.uk/Salaries/index.htm
- Family, friends and past work colleagues that you remained in touch with that might still work in the same space as you
- If you are still at university; career advisors, lecturers and tutors.
- Here is the key option: Recruitment agencies, and specifically ones that specialise in your skillset. Niche recruiters speak to many companies and candidates and are often in the best situation to tell you exactly what the market will pay to someone of your experience level and skillset.
Once you’ve built up a clear picture of your market value and have a realistic expectation based on the current market, then you’re ready to launch yourself into that market and actively seek your new role. But do make sure you keep abreast of any developments especially now when we are midway through the pandemic.
One final piece of advice is to not base your final decisions on your market value from one specific source. But to build up a realistic picture of the market by looking at all of the above sources.