SALARY : KNOW YOUR WORTH
How much do we deserve according to our education, experience and level of qualification? What are the usual salaries for certain positions? How do you know if you are being paid a fair rate? Often, when we talk about pay, questions arise. This is normal, as salary is a fundamental question for working people, whether they are looking for a new job, a promotion or are simply curious. So, how much are you worth?
How do you know what your salary should be ?
If you want to provide a salary range to a recruiter in a job interview or to ask your employer for a raise, take the time to think about how much money feels acceptable to you. If your expectations are based on thorough research and your range is fair in relation to the job market you will appear more credible to the recruiter or to your employer when it comes to negotiating your salary.
To help you determine what you could expect to be paid, here are four main areas of research:
1. Refer to a salary guide
Our Luxembourg Salary Guide 2021 covers the various sectors in which Hays operates and highlights the salaries paid for each job according to years of experience.
This report shows how much a person with your experience can expect to earn in their field. For example, according to our remuneration study, in the Construction sector the annual salary of an Operations manager with 0 to 3 years' experience ranges from € 90,000 to € 95,000. From 8 years' experience onwards, this climbs to more than € 150,000. A Site manager with 0 to 3 years’ experience can expect to earn between € 28,000 and € 35,000. With more than 8 years of experience, this increases to between € 55,000 and € 70,000.
2. Discuss it with a recruitment Consultant
If you have been contacted by a Consultant for a position, do not hesitate to discuss the question of remuneration with them. With their expertise in the field and their in-depth knowledge of salaries in your profession, they will be able to guide you. Furthermore, their job is to act as a bridge between employers and candidates. They will be able to tell you what you are entitled to based on your experience and qualifications.
3. Ask around
Who do you know who can give you information? Look for people around you who are in a similar position and with whom you feel comfortable enough to talk about salary. After all, this can be a tricky issue to discuss for some people. Don't hesitate to make a phone call or send a message on LinkedIn to those who can help you.
4. Search on job boards
Compare the job offers and salaries on different job boards. Even if not all recruiters indicate them systematically, salaries may be included at the end of some job offers. Make sure to read all the way through! Doing so will give you a clearer idea of the salary bracket you are in.
Think about benefits in kind too
Although it's important, salary isn't the be all and end all. A company car, reimbursement of transport/kilometre costs, lunch vouchers, gift vouchers, a business telephone or computer, an internet package or company accommodation... Many employers offer benefits in kind, which can sometimes lead to significant savings and can tip the balance when negotiating a salary, a promotion or a request for a raise. So before your interview with the recruiter or your manager, think about the benefits to which you may be entitled in addition to your pay.
Now that you know more precisely your value on the job market, you have all the cards in hand to negotiate your salary or your raise!