Salary on Job Advertisements
Updated: Jun 30, 2021
Whether or not you should reveal salaries in job adverts is an issue for debate. It is a controversial subject. Those who are against the idea may argue that it will reduce the ability to negotiate or allow competitors to gain an unnecessary glimpse at your pay rate. While these may be motives for not disclosing salaries on job advertisements, it is important to think about it from a candidate perspective.
Below are some of the several reasons why we believe in including salary ranges in our job listings.
Candidates Want to Know
It's as simple as that. Even if a candidate's primary motive for taking the role is not salary (for example - their main reason for joining a startup may be to learn and boost skillsets), they still want to know the salary. Everyone past a certain age has financial commitments, and while salary may not an applicant's primary motive, they will have a range in mind that they will be willing to and not willing to accept. If salary is not listed, they're going to ask.
LinkedIn has stated that 70% of job seekers expect to hear about a recruiter's salary as soon as possible. Studies have also found that job descriptions including salaries got at least 30% more clicks than those without.
Transparency Helps Build a Strong Employer Brand
While salary won't always be the number one deciding factor, it is good to be transparent from day one. Not including salary might suggest that there is something to hide, implying that the job is paid below the market rate. Studies have shown that 90% of millennials would happily commit to a company for several years if the employer is honest about salary and career growth. Although your company may have a justifiable reason for not including salary in a job advert, candidates may decide not to apply for a role over concerns of compensation being too low.
It's Becoming a Norm
We often go with what we believe is the norm, but many organizations are shifting towards including salary range in job posts and building a culture of transparency.
Save Candidate/Recruiter Time
There are two arguments to be made when we consider including the salary range in a job advert. Honesty about a role, including pay, may give you a competitive advantage in a saturated market. Alternatively, if you advertise a low salary compared to competitor rates, you could argue that it won't attract enough candidates. Either way, it saves time. Those who want to apply will apply, and those who don't will not.
There is also the awkward topic of salary in the interview, which could take away from time that interviewers could spend learning more about the candidate. This is often an uncomfortable topic on both sides and can easily be avoided from day one.
It is expected that many companies are undecided whether to list the salary range in job advertisements. Startup companies or SME's may not be able to offer the same compensation as corporates and don't want to seem lesser than.
While salary is important for most job seekers, it isn't always the number one deciding factor for accepting a position. Many job seekers, especially millennials, are looking for excellent cultures, the opportunity to work remotely, and great training structures. Being transparent about everything your company has to offer from day one will be sure to attract talented employees.