Have the Money Talk
There is a standing joke in the recruitment industry that many people would rather talk about sex, religion or almost anything than discuss their compensation. While data shows that money is often not the key motivation when vetting an opportunity, at some point it is a practical matter that needs to enter into the discussion in order to move the process forward.
If you are asked about your compensation, our opinion is to answer the question honestly without delaying the response. It can be off putting for an employer to hear a candidate skirt the question and state they are prepared to accept pay which would commensurate with their experience or market rate for the position. This is a non-answer, as it is subjective and based on the perceptions of the employer and subject to their compensation philosophy. Plus a candidate profile without compensation data is considered incomplete and could be interpreted as no serious interest.
On the other hand, it is also not advisable to enter into salary discussions immediately or imply that conversations that do not begin with addressing this topic are a waste of anyone’s time. Conversations between qualified interested talent and talent acquisition leaders are never a waste of time. At the very least it is an important opportunity to gain valuable information about one another and potentially create a new relationship while keeping in mind the goal of the conversation.
Candidates and employers share similar goals in the interview process. The goal of the interviewer includes three things; to understand what the candidate needs, if the candidate brings an ideal talent solution, and determine the viability of the organization to secure the candidate. The goal of the candidate is quite similar; to understand the needs of the employer, if the employer delivers an ideal employment solution and if there is viability to be hired on favorable terms. The employer and employee will need to know each other’s needs including compensation, in order to determine viability.
Compensation discussions can be viewed as an opportunity for the candidate to showcase leadership and communication skills, as well as begin the relationship in a spirit of trust and honesty.
Rose Spano Iannelli (left) and Jamie Pratt, co-founders at Spano Pratt Executive Search, can be reached at rspano@spanopratt.com or jpratt@spanopratt.com. Register for their monthly Talent Tapas newsletter. The firm is based in Milwaukee with clients nationwide.
RESOURCES
Looking for Your
Occupational Target
Having a clear sense of the type of job you’re seeking is critical.
Create
your own
Occupational Target.
By
Laura Kestner-Ricketts,
Marquette University Career
Services Center
Careeer health - strengthen your ability to journey down a career path
Traveling down a successful career path requires the right tools. Equip
yourself with these skills and qualities to establish a solid foundation.
By
Brian Noviskis, Bus Ad '82
Personal finance- the impact of big purchases
Planning ahead when making a significant purchase can help prevent bigger financial burdens down the road.
By Greg Noonan, Bus Ad '83
Step back and be quiet!
Step back and be quiet! Your ability to do that may be critical to your
success as a leader. A truly great leader knows the importance of having some
quiet time to reflect, as Chris Lowney points out in his wonderful book,
published by Loyola Press, "Pope Francis – Why He Leads the Way He
Leads."
By Mary Alice Tierney, Sp '72
LinkedIn metrics and ROI:
The 10 numbers you need
to track
Consider these ten metrics to help meet your Linkedin goals. By Wayne Breitbarth, Grad '86
Articulating your
transferable skills: a guide to building a functional
resume
Writing a functional or combination resume can help
highlight your skills. Learn how to create this new type of resume.
By Laura
Kestner-Ricketts, director, Marquette University Career Services
Career
health
It’s YOUR career. How healthy
is it?
By Brian
Noviskis, Bus Ad '82
The
easy approach to savings and finance
It's never too early to
establish or adjust budgeting and financial goals. Follow these easy steps.
By Greg Noonan, Bus Ad '83
If not here,
where?
If you are among the many professionals looking to pursue
new jobs in 2014, there are some key questions you should consider before you
make a change.
By Mary Alice Tierney, Sp '72