Pay Transparency - Is Knowing The Range Harmful In Salary Negotiation?

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Күн бұрын

Pay Transparency - Is Knowing The Range Harmful In Salary Negotiation? When you're interviewing for a job, the most stressful question is what your salary expectation is. Most people want to know the salary range beforehand. But is it good to know? In this video, I break down the hidden dark side of pay transparency.
0:00 - intro
2:55 - are you mature enough
4:08 - internal equity
5:38 - 3 options for a lower offer
6:35 - you may miss out
7:09 - higher expectations
8:18 - less opportunity
9:35 - how to figure out your value
10:51 - get more interviews
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Пікірлер: 191

@metachronicler 2 жыл бұрын

People will be expected to perform at the 99th percentile level regardless of what they are paid. Employers want the cheapest they can get or at least to feel like they got a deal. Employees want to get the most money so that they can live comfortably.

@ALCRAN2010 2 жыл бұрын

An employer only pays enough so that the employee doesn't leave. The employee only works hard enough so that they don't get fired.

@ShacklefordR 2 жыл бұрын

@@ALCRAN2010 I think there’s a balance and more to the context than that simple outlook. Yes, no one will deny the P&L rationale, but I think certain amount of grit + average intelligence when applied correctly can net you success in white collar world

@redking1333 2 жыл бұрын

You win.

@YouTubePurgetheblackplague 2 жыл бұрын

Yeah, I just found out being a barista earns less then a secretory, but more then I make a physical labor job.

@aclem8246 5 ай бұрын

Absolutely correct. The guy making these vids is a recruiter so has a particular slant on what he is saying.

@Matt-wf7ry 2 жыл бұрын

Problem with pretty much all companies is that they don't bump your pay up in accordance with your years of experience and instead give you small merit based increases at the end of the year with ends up around 1-3 percent increase. Well if you are in a compliance/quality position for 7 years you now have 7 years of experience versus either little to no experience when you started. The salary difference between an entry level compliance/quality role and a required 7 years experience compliance/quality role is WAY more than 7-21 percent. In fact it is at minimum a 100% difference in pay and closer to 150%. If companies want people to stop job hopping and stick to a specific role they really need to up pay based upon experience. It is also ridiculous that companies are so desperate to keep pay a secret that they refuse to allow certain states to have remote workers to avoid giving up that information.

@CmdrShepardsPie 2 жыл бұрын

Colorado passed a law requiring job posters to state up front what the job pays. In response several companies have said they can’t/won’t hire people from Colorado (and several other states with other pro-worker protection laws). Some will say these laws hurt workers, but do we really want jobs that exploit people? I say no, there are plenty of companies that need us more than we need them.

@BreezyBellefu 2 жыл бұрын

Colorado also grossly underpays the majority of workers. Compared to cost of living.

@CmdrShepardsPie 2 жыл бұрын

@@BreezyBellefu The cost of living in Colorado (especially major cities like Denver) have far outpaced wage growth, and so has homelessness. Even for a well-paid tech worker my lifestyle has had to change as things like food and rent have gone up 20-50% while my pay has gone up 1-5%.

@jolp9799 Жыл бұрын

im glad that new york and califonia are following suit. there's no way companies can afford to ignore all three of those job markets

@BaronVeyer Жыл бұрын

Should be mandatory across the world.

@theindooroutdoorsman Жыл бұрын

And that is against that same law. Lawsuits have been filed against some companies by the state already.

@dacripe 2 жыл бұрын

All states need to require the pay range and benefits like Colorado, NY, and Conn. I feel like companies are shady when they don't give you any information before you start interviewing. You go through the whole process and then find out they cannot pay you enough and/or the benefits really suck. Seems like it would save everyone time and money. Also, I am getting offers where employers say "This is what the job pays $xx,xxx" like you have no negotiation with that number. Most don't even ask what pay range I am looking for nowadays.

@ramy8700 2 жыл бұрын

Exactly! People are also undervaluing themselves and don't feel comfortable asking pay ranges because they don't want to come up as greedy. The think I've learned from hiring medical staff, RNs, LVNs, Aides, etc, the first thing you should ask is pay range. They always ask that's first. But of course, medical salaries are widely advertisied because company's need to compete with each other to get staff

@dancingshade5344 2 жыл бұрын

You are one of the most realistic career KZfaqrs out there. I like how you go into nuances into how salary is offered to potential candidates. I have just finished 6months of searching for a new job. I found that it was best when I was transparent with my salary expectations. Not all companies are out to cut you short. I ended up accepting an off for about a 15% raise. I'm already a high earner, so this is exceptional.

@seinfan9 2 жыл бұрын

I don't understand how a company doesn't increase the salary of a current employee that at the very least gets good reviews to keep up with the new hires coming in. They would rather potentially face a 6 to 12 month ramp up period (speaking of engineering work) letting things fall behind while some other company gets the proven good employee. And they may not even get a solid replacement.

@RandomFandomDragon 2 жыл бұрын

This has never made sense to me, either. Especially since the prevailing wisdom seems to be "leave your current job if you want paid more". If companies know they are going to lose people, and possibly have to pay more for the replacement plus the training cost, why not just bump the current employee's pay.

@cetriyasArtnComicsChannel 2 жыл бұрын

happens all the time in the design field too. folks thanks they can get anyone to 'draw in photoshop' not understanding that drawing is a skill, drawing in photoshop is a skill and also dealing with individual tech spec for each manufacture actually takes years to learn. The more green a person is, the longer it will take for them to catch up which will cost more, especially correcting mistakes and missing deadlines.

@ADAPTATION7 Жыл бұрын

Supply & demand. That's the only real law out there that governs all of the rest.

@angrydragonslayer Жыл бұрын

Yeah... I've asked people this and they think that the replacement will stay long enough to make up the cost That means they expect the replacement to work there for ~250 years in one specific case (and he was the replacement for a replacement from 2 years before)

@leapace9480 11 ай бұрын

Oh thank God you went that way. I CANNOT apply to a job unless I know it's in the ballpark of what I need to live. I'm not gonna waste an hour of my life on a job I can't even afford to do.

@donnathedead7554 2 жыл бұрын

Most companies don't want to post pay range because they know they would get even fewer applicants.

@dope1258 Ай бұрын

Maybe pay more? 🤔

@racerx2502 2 жыл бұрын

Due to COVID and more remote workers, companies are now starting to look a geographical location for salary ranges. I live in the Midwest and I worked remotely for a Fortune 30 company 3 years ago. I was the highest level technical role in the company, but I discovered that I was actually being significantly underpaid for the role, solely based where I lived. A colleague of mine, who was one position below me on the organizational chart, was actually making more than me, just because he lived in a larger city on the coast. Companies seem to no longer be paying solely based on skill-level, but also on where you live, which on the surface seems quite unfair to the employee.

@annielin2894 2 жыл бұрын

McLaren_F1_Fan I know this you might not know but I am trying to get into the tech sales industry and I heard tech companies don't fire salespeople just number-driven but does a salesperson work long hours just doing cold calls?

@chemquests 2 жыл бұрын

Doesn’t seem unfair to me. The number one puts to value is experienced as the lifestyle you can sustain on the compensation which varies by region. Besides it’s the principle behind offshoring jobs. Do you think a job previously done in US at a certain pay should be paid the same when moved to Bangladesh? That would eliminate the entire point & would limit both business growth and economic development of poor countries.

@jdruin1 2 жыл бұрын

I have had companies do that to me as well. I stood my ground and walked away. There are companies that will pay for the value you bring.

@racerx2502 2 жыл бұрын

@@chemquests Which is why I said, "on the surface seems to be unfair." The reality is, if people made the same salary for a remote job solely based on skill, then it would make sense for people to relocate to geographical areas with significantly lower costs of living. Though, it still doesn't change the fact that the #1 reason a person is hired, is because of the skill/value they bring to the role, not necessarily where the person lives geographically. However, hiring more remote workers could benefit the company itself, and drive costs down, but only if these companies can find the talent with the skills they need in those geographic locations where the cost of living is lower.

@chemquests 2 жыл бұрын

@@racerx2502 sounds like we agree & I’d say this is a positive development for society to have a mechanism for making good money in a cheap place. It’s a pretty efficient system economically and should help improve the more rural low population density places that are these cheaper locations.

@nocigar7730 2 жыл бұрын

Brian, your channel is so valuable. I just accepted a life changing offer today and so many of your insights helped to make that possible. You are having a massive impact on the people that listen to what you have to share. Thank you! Keep making content, its a worthwhile endeavor. I wish you and your family health, wealth, and peace of mind. I hope your move went smoothly and you are enjoying the new house! Best,

@Frissdas1207 5 ай бұрын

I work in IT. My technical prowess is generally mid with a few advanced areas. The reason i tend to land offers at most places i interview is my exceptionally above average ability to be likeable. I asked my first boss years and years ago, why did you hire me? He said "you were probably the least qualified candidate on paper but every one on the panel wanted to work with you. People generally would rather work with someone who's not as skilled but pleasant to be around vs someone who knows everything and no one can stand." I'm not making this in a bragging way, merely a testament that you don't have to be a rockstar at everything to get good paying jobs, sometimes being pleasant to work with goes a long way.

@ladysparkymartin 2 жыл бұрын

This was interesting, thank you. For the past 25+ years I worked in small business where my salary seemed pretty arbitrary. It was good because I’d get merit increases and bonuses sort of emotionally driven by my boss 😅. But also so vague and subject to penalty when the business was struggling and such. Very mercurial. Now I’m starting a union job where the rates are predetermined, nonnegotiable, and even published on the guild’s site for all to see. Totally different world but in my 50s now I’m cool with predictability. I no longer need to be a starlet 💃😂

@decarlocalloway01 2 жыл бұрын

Yeah, I want to know the pay range. Even if it doesn't work in my favor, I would respect the transparency.

@thetrainhopper8992 2 жыл бұрын

When it comes to pay transparency, if the company get pigeonholed into paying someone the upper end of their pay range, that’s on them. Companies tell us if they offer paid time off and health insurance, along with a job description. Telling us what the annual or hourly pay is should also be standard. As a teacher, there are certain places I won’t work since they have to tell us what they pay range is. If they can’t get people, that’s on them, not me. It’s also the states problem since our school system is so fractured that it can’t function well, but that’s a different story.

@MR3DDev 2 жыл бұрын

While we usually don't share or talk about our salaries at the company I work for, I sometimes share what I make on my side gigs with my coworkers. Sometimes they are amazed at the number which makes me wonder if we are all underpayed 🤣

@ALifeAfterLayoff 2 жыл бұрын

Side hustles are where it’s at!

@ctjmaughs 2 жыл бұрын

Better to discuss pay when not at work.

@MR3DDev 2 жыл бұрын

@@ctjmaughs Why? What is so taboo about mentioning it? Besides is always them asking "but how much did you get on that? "

@ctjmaughs 2 жыл бұрын

@@MR3DDev it creates team dissention in the work place. I have no problem with them discussing outside of the office though.

@michaelmurphy2112 2 жыл бұрын

@@ctjmaughs If it's causing problems that means the company likely has unfair pay practices which should absolutely be discussed

@dancingshade5344 10 ай бұрын

That electrical engineer percentile chart you showed is spot on with my understanding of the market here in the midwest. Great to see that info from another source.

@alethomas6648 2 жыл бұрын

I got my dream job a few months ago thanks to this channel. I was happy I got a small raise from my previous job. Weeks into the new job, I found out my company offers access to salary ranges to employees. Looking at my chart, I realized I accepted an offer 1$/hr shy of the lowest band. The lowest is 36, I accepted at 37, the mid is 46 and max 55. Such a bummer, I realized I didn't value myself properly. Any advice on how to better my salary without switching jobs?

@ewanfraser 2 жыл бұрын

I got a huge raise by getting a counteroffer against another companies offer. That will have your employer decide quickly if you are worth the money. Just make sure you are willing to take the other job in case they don’t counter offer.

@egrnhl 2 жыл бұрын

@@ewanfraser The general advice I have seen is not to accept counter offers from the current employer as up to 80% of employers replace employees in this scenario in 6 months.

@seinfan9 2 жыл бұрын

@@egrnhl Well, this guy actually like his current job. He just wants to be payed more. Usually people that start looking for other offers have decided they don't like a lot of things about their situation to justify the job search in the first place.

@Ethernet480 Жыл бұрын

That is strange that HR would let that happen. There are real repercussions outside of disgruntled employees for why you don’t want to pay under or even within (but low) in the band.

@josereyes1148 Жыл бұрын

This exact same situation happened to me. I learned through other career coaches that this happens from time to time. There is such a thing as a SALARY ADJUSTMENT for situations like this. You ask your employer if they have time to talk and then politely address the issue. You mention that you realize you are being under paid compared to others with similar experiences in your role. You don't talk as if it's unfair but rather ask what can we do so that I can earn what my colleagues in my position with similar experience earn. A salary adjustment is a different concept than a standard 3% raise. It is an acknowledgement that you are not paid fairly compared to the company standard for that experience level and role. Problem is I set this situation up and was literally told "oh well you should have negotiated better". Needless to say my moral has been low and I've been looking to switch jobs.

@Ra20233 2 жыл бұрын

This is so entirely subjective. I wish employers would, as a rule, make decisions as logically as you discuss. From my experience, they simply don't.

@curiousGoyangi 2 жыл бұрын

Underemployed is tricky when you wanna jump from the underemployed role to another :/ that’s my difficulty right now with low balling HR 😹

@JustMe99999 Жыл бұрын

The only problem I see with posting the range is that everyone thinks they should be at the very top end of it, regardless of their background.

@TheResidentPsycho 2 жыл бұрын

I do compensation comparisons internally and externally in my previous job. The internal equity for a company that hires externally a lot has a huge gap from the lowest basic pay through the highest... and for the most part they usually have the same length of experience relative to their current roles. Employees who have been in their employers for far too long should check out their role's job posting to see if they are being ripped off because more often than not, they usually are.

@ALCRAN2010 2 жыл бұрын

I wonder if there is an internal path to requesting a pay rate adjustment.

@robertbrown2706 2 жыл бұрын

Yes. Before I came into the organization I work for now, I was at a different organization and commanded a certain salary. So, when I took my job, I came in with leverage (security if you will) that I did not need the job. So I negotiated for the salary I would be happy with and not a penny less. Immediately I was paid more in my role than employees who had been here for a while. But the key difference between them and me was that I had leverage at the negotiation table when I wanted my salary. I was not going to come for less than what I was worth. If you already work for the company, you can ask for a raise but they already have your services and therefore the leverage. It is often only through job hunting that you truly create leverage in this kind of situation.

@t28mcd Жыл бұрын

Sometimes coming in on the lower end of the band can have advantages, you may be seen as good value and if you do a good job it's easier for them to give you pay rises and promotions building your confidence and career momentum.

@GuitarsAndSynths 10 ай бұрын

This is why I like public sector jobs they always post the salary no games no jokes.

@music80s65 2 жыл бұрын

I remember when employees were fired because they made too much money and replaced with employees with lower salaries within the company or the position left vacant in the early 2010s recession.

@sid2112 7 ай бұрын

I was pretty good at what I did and I would always command a bigger salary because of it. The one time someone found out about my wages they pitched a fit. Lesson learned, don't talk pay.

@vargulfen 2 жыл бұрын

The transparency laws for Remote are very helpful imho. If a company is going out of their way to exclude those locations because they do not want to post the ranges then that is a huge red flag to me. Good riddance to them. The claim that having a second scale they can move to so you might miss out sounds more like a passive aggressive threat. "sorry you didn't want to apply with us. You might have qualified for this secondary range and we also were trying to reach you about your car's extended warranty." As for reaching the top of your range coming on? Inflation and people are sick of the alternative. I will take the top of the range tyvm and if you want to keep me you best be refiguring your math. Because if I do not aim for the top It will be many years before I reach it at the pathetic 1.5-3% yearly raise that will be outpaced by the market in a matter of a few years. How many people work for a place, coming on at the median only to find out after 10 years of hard work, experience and loyalty that the new guy is hired on at a wage 10% higher than yours? Enough.

@bethiciaprasek9415 2 жыл бұрын

I have felt more comfortable knowing the pay range versus not knowing it. Being curious and a scientist I was curious and found pay ranges for different positions at one of my first jobs. Not sure if we were supposed to know. Although I pitched for higher wages each year, I didn't discuss that information. Knowing it was sufficient. I didn't feel badly about being on the lower end. I was entry level and came in at a lower position because I really needed a job. But that knowledge helped me to request promotions/significant pay increases as I grew in the position which were appropriate. It is nice to hit a point in your career where you believe they need you more than you need them. On the other hand, please give me someone to mentor because I am ready to move above this position. Not a good feeling to believe that your department will be hard-shipped should you get ill for a few days.

@paulhornbogen980 2 жыл бұрын

Keep it up Brian. You are providing realistic information sir. Again, two thumbs up.

@Silverdragon517 2 жыл бұрын

Love listening to you and watching your videos

@satan9487 Жыл бұрын

In my experience I've gotten better offers when I let the company give me a range. 80% of the time their low end is more than I expected to make so I simply go with that. If their low end is too low for me i outright don't apply, it saves me time it saves them time.

@kimpreslar303 Жыл бұрын

This was a GOOD one!

@jennyc5100 2 жыл бұрын

Very helpful info about buckets and percentiles. Thank you.

@FlatOutFE 2 жыл бұрын

Thanks so much for the great content. I'm navigating a job offer presently and your advice has been awesome.

@theindooroutdoorsman Жыл бұрын

First off, it's illegal for your employer to stop you from talking to coworkers about pay. So don't worry about the topic at 0:59, you can just ask them their pay.

@pigeonfarmboy Жыл бұрын

This was a very helpful video for me. Great points to consider in negotiation!

@egrnhl 2 жыл бұрын

I learned that special approval was needed if requesting a salary within 90% or more of the pay range. Others were lower at 70%.

@edhcb9359 2 жыл бұрын

My company dropped our 401k match from 12% to 6% for new hires so that we could offer higher salaries. The new hires are thrilled with their pay and then come on board and then complain like crazy when they realize that they are getting half the 401k match as everyone else.

@devilsadvocate7389 2 жыл бұрын

12% 401k match is amazing. I never worked anywhere with a match larger than 4%

@sabrina.natalie Жыл бұрын

12% is phenomenal. If you don’t mind sharing OP, what company do you work for? The only companies that I know of, that offer higher 401k matches are Southwest Airlines and USAA.

@edhcb9359 Жыл бұрын

@@sabrina.natalie It’s Novartis. By the way, Southwest matches up to 9.3% and USAA matches up to 8% which are both less than 12%.

@sabrina.natalie Жыл бұрын

@@edhcb9359 - Oh cool! Thanks for taking the time to respond. I appreciate it! 💖

@curiositykilledthecat5118 2 жыл бұрын

I managed to dodge a crappy call center job because I was non-negotiable on pay. Their range was still below value for the level of expertise they were demanding but they asked me four different times if I was willing to negotiate which told me they never planned on paying the higher end of their pay range.

@JasonRobards2 Жыл бұрын

My employer recently introduced pay brackets, basically frustrating a stable, highly experienced work force who was running a very flexible customer oriented production chain. The pay brackets were based on a study ordered with one of the big 4. My employer bluntly told people were told they would never get a raise with the company, sometimes even going so far to state "be glad, because you are overpaid as it is". At the same time, the employer didn't provide an outlook for future development into another position. On top of that, several people found out that the study was done on outdated function descriptions and that their actual role wasn't represented by the information provided to whoever made the study. Despite this, management refused to redo the study for this position. Needless to say, several people decided to leave their job on the spot. Some of them had been working for the company for over 20 years. How not to do it.

@SuprousOxide 2 жыл бұрын

Going in at the top of the pay range may have some disadvantages as you say, which you wouldn't know without knowing the pay range, so that's not a disadvantage to the job-seeker.

@mockdux 2 жыл бұрын

Excellent tips. Sharing with my students.

@Lingura123 2 жыл бұрын

What a weird take: "We'll give you in the 75% range to be able to get a raise." It sounds like "we're underpaying you for a while to bait you later on with a raise, to stay a little longer ." The CV is an extremely unfair equalizer for those who have honed their skills to the top tier, because their CV will be similar to someone with two years of experience in the field. Both are qualified, yet the veteran will provide immensely more value, especially in corporate. A few thousand dollars extra a year is nothing compared to the hundreds of thousands the veteran will prevent losing due to either poor management or poor operational skills. I have seen this specific situation in a local company that produces leather chairs for luxury cars - the stock key users (one of which is my brother) left due to internal unfair promotions; 6 months later, their overstock was on a -$1.6M loss. And it still is, the company is ON FIRE and nobody knows how to fix things. The story above is from two months ago. If this comment feels a bit acid, it's because this is my perspective.

@nunyabidness3075 2 жыл бұрын

All I know is that if I find out my coworkers are making more than I am (and I always find out), they better be out producing me. I’ve been in jobs where I honestly realized my performance was well below average to nearly the best. One of the reasons I went into sales was pay discrepancies in management (it didn’t work, the bosses still fix outcomes). At least in sales there is some objectivity so if you perform well, you know it. Made enough to retire early, too.

@thestrangegreenman Жыл бұрын

Hey, no fear! If the company says "We can't give you a raise, ever, because we'll have to give everyone a raise," then I can go get another job at a better company. Turnover is the one level we have here so any tools, like pay transparency that help us use that lever, it's good

@purefaerie 2 жыл бұрын

I automatically assume and base any decision to move forward on my target being the median of any range a recruiter mentions. Normally offered higher but it’s been a good guide for me. What I’m annoyed with is what appears to be new definitions of “salary”. Recently a recruiter gave me a salary range - that sounded reasonable and a nice increase for a lateral move - then proceeded to explain later in the conversation that the “salary” was a base with an “up to 20%” annual bonus - which would mean a drop in my monthly income instead of an increase. Am I wrong to feel tricked? Thought bonuses and any other incentivized pay options were considered salary.

@amys0482 2 жыл бұрын

You are correct. The recruiter is confusing total cash compensation with base salary.

@mrwonk 7 ай бұрын

If a company doesn't have a "business nexus" in a state; they are not subject to the pay wage range laws for that state.

@cetriyasArtnComicsChannel 2 жыл бұрын

hmm, I'd rather pay transparency as that will help not to be under paid and also lets me know if a job market even worth it. More often than not, the budget is set rather than paying more 'for the right fit' and same with the issue of 'pulling more weight', I work well regardless of pay. If I feel under or not enough to live with I'll still leave regardless. And if all states are all transparent, there's no issue there.

@howardlan861 2 жыл бұрын

I also think a lot of recruiter do not tell you the real salary range of the job. They will tell you the lower end. "The salary range for this job is 120-130k". But really it's probably more like 110k - 160k. They do that to anchor you low.

@francargeric1 Жыл бұрын

I think that too, because realistically if they tell you that range is 110 and 130 you will ask around 130 but maybe the actual range was 125-155 and they get to hire for their lowest possible.

@chrisaustin6255 Жыл бұрын

I've walked into a handful of companies at the highest pay, there was a couple times where people found out my pay and they were pisted off at me

@01michellehall 2 жыл бұрын

Great video

@V4zz33 2 жыл бұрын

Just put the salary in the advert and everybody will be carrying merrily on with their day. It is infuriating to not to see salaries and asking for the 100th time to fill out fill application forms... joke about bot to waste time... or to have to ask the question about salary expectations... put it in the advert. I moved countries again, and finally got told the salary range for my favourite industry in that country: I did abandon my dream job because it doesn't pay enough for the effort that I need to put in to be considered for the role /new country/, while I could earn similar or more with my other skills.

@elgersmam Жыл бұрын

This is a bit different for nonprofit organizations in my experience. Often the pay is locked down because it's written into the funded grant proposal. I appreciate this general info -especially about the percentages. I'd still rather see a salary range than not. It tells me if we're in the same city of not the same ballpark.

@chrisaustin6255 Жыл бұрын

I have been in a position where I rejected the offer for Job #1 and then they opened job #2 for much better pay

@MrTree421 Жыл бұрын

this is an important topic. It truly is which is why it pains me that I was quite a bit distracted that you were just a bit out of focus.

@rizza8920 2 жыл бұрын

Please do a video about work from home/remote work, especially where to apply for remote jobs that hire internationally.

@deltasyn7434 Жыл бұрын

As touchy of a subject as this is, I think it is better off that salary info is public. Simply because the truth always leaks out sooner or later. Even in the most tight lipped environments, people begin to assess what you earn based on how you live.

@lg3103 2 жыл бұрын

I say go ahead and post the salary range for the role or at least volunteer the numbers when interviewing selected candidates. Eventually an employee will find out what others are making in similar roles.

@TML34 2 жыл бұрын

It only makes sense to know what the range is, but doesn’t necessarily mean there’s no negotiation. I’ve applied to jobs and told them in my cover letter that the pay isn’t a market rate and still heard back. We have this believe that HR depts have done all the research when in fact they have no clue.

@amys0482 2 жыл бұрын

only about half of companies even have a compensation strategy

@CB-vt3mx 2 жыл бұрын

information asymmetry is the greatest challenge to the job searcher and even the employee when it comes to pay and benefits. Employers and the government use information asymmetry to lower pay and raise taxes. It is a corrosive problem to any population.

@BewareTheLilyOfTheValley 2 жыл бұрын

My most recent interview was with a company that didn't share its pay range. And the recruiter didn't bring it up when we did the phone interview either. I did about a two hour interview, which wasn't all that stressful but they did ask about my skills (I thank them for keeping the focus just on my last two jobs, which I feel are my strongest) then did an interview with two who would be in the department I would work for, interviewed via Zoom (I was physically in the main office though the job will be remote), and then back to the first two. After the two hours and at the absolute very end, I finally asked about the pay range. Took them awhile to even check it, lol. They gave me a range that thankfully works for me (so long as they don't feel I'm valued at the bottom half of that range as then it would be less pay than my last job. Which I'd hope not, given that they seemed impressed with my years and various experience and having worked a like-minded job before). I don't feel comfortable quite yet asking for the upper half of that bracket but I'll negotiate higher if they offer anywhere less than the middle. Happy I did get the courage and finally asked so I knew what to expect and the whole two hours wasn't a waste. I love everything I've read and seen about the job and have only passively still been submitting applications. I feel this job might be "the one" I can grow with, as others in their reviews have said and done (I'll switch jobs in the future if I just truly feel I've gotten everything I can out of it). I also love that the job offers some great benefits: PTO, health, vision, dental, life and A&D insurances, 401K with I think a 5% match, office hours of Monday-Friday, 8 to 5:30PM, which is abnormal for my field, and being off on all state holidays...also abnormal for me. That does mean I lose the quiet shopping at 10AM on a weekday I've had for years, but that has often been one of the very few perks I've had at jobs, with Saturdays and especially Sundays being absolute hellish because of low staff. I've considered faking being religious just to claim off on Sundays, I started to get so tired of being made to work that day, lol. Will be so nice for everyone to be on the exact same schedule, so the work is always evenly distributed. And as this is a tech company, they also allow employees a 15% discount on buying company stock. I took a look at the stock price and yeah...I'm gonna need that discount, lol. But hey, finally a foot in the door on investing, which I've been wondering what company to start with or if I should do so at all. While it'll never reach the grandeur of Apple or Google, the company offers a much-needed service that I think will help protect it from going belly-up, so long as they don't do anything crazy.

@irlporygon-z6929 2 жыл бұрын

I mean, that sounds interesting, but what in the world kind of tech company job requires that you work weekends? Are you doing customer support or something like that? No developer job has that sort of requirement.

@BewareTheLilyOfTheValley 2 жыл бұрын

@@irlporygon-z6929 I'm customer support but we provide support and have built the websites for nearly all of the government agencies in the state (and other states), and so we keep an eye on things even on the weekend to stomp out any fires. Don't know if it's mandated that they work on weekends and I don't think it's a lot, just more like a cursory checkup. It helps them not come back on Monday and everything's gone to hell and helps me not run around like a chicken with its head cut off responding to a deluge of voicemails, emails and incoming chats, lol.

@irlporygon-z6929 2 жыл бұрын

@@BewareTheLilyOfTheValley Oh, I got you! Sounds like an important feature lol. May the weekend work be light and the fires be small 🙏

@ButterflyBree 2 жыл бұрын

Thank you for explaining how the salary range is viewed from the company and HR representative. I think all companies should be required to list the salary range. I'm actively looking for more optimal opportunities. I don't look at jobs when the salary isn't disclosed.

@francargeric1 Жыл бұрын

Everybody wastes time if it isn't transparent. 3 interviews to find out that they pay like shit? No thanks.

@masonhock6442 2 жыл бұрын

Isn't it impossible to be the 100th percentile (Cause you can't be higher ranked than yourself)?

@michael567jober Жыл бұрын

i started at 15/hr when i started as a CSR/logistics coordinator 2 years ago. got raised up to 18 then 20 before my 1st year. just got laid off last week. problem is i live in miami fl alone so all bills are on me. i obviously cannot afford les than 20 per hour. rent alone is 1050/mo. what do i do?

@Secret_Takodachi Жыл бұрын

Knowledge is power, anyone advocating for less public knowledge has a vested interest in obfuscating the landscape. You don't need to be an economist to understand the dynamics at play here.

@bige3969 2 жыл бұрын

Cigna is most famous for doing it in Colorado.

@angelsfan1514 2 жыл бұрын

I’m curious what are your opinions on LinkedIn certification’s opposed to something like the google analytics certification?

@ALifeAfterLayoff 2 жыл бұрын

I personally don’t hold much weight on LI certifications. Can’t speak for others.

@jonathanstarr1617 2 жыл бұрын

How do you know whether to proceed with an interview if you have no idea what the pay will be? Wastes everyone's time.

@steveconsultant4523 2 жыл бұрын

The other side of starting at the top of the range is that you won't get significant pay increases after that.

@SuprousOxide 2 жыл бұрын

So pay transparency is important so you know whether you're at the top of that range or not.

@robertbrown2706 2 жыл бұрын

That is his weakest argument here. It is not better to "get raises later" when your starting salary is lower and those raises only get you up to what you could have negotiated for to being with. Those raises still won't go over the pay band. You are DEFINITELY better off getting paid at the top end of the range to start with. You just need to understand that you are at the top end of the range coming in and will need to work for a promotion if you want to earn more. Fortunately, with pay transparency, you know where you are on the scale! And, I work at a public institution with public salaries and public salary bands- we all survive just fine. The idea that salaries and compensation should be kept secret is ONLY beneficial to employers- ever.

@francargeric1 Жыл бұрын

If you start at 50 or 70% you will still hit a flat period once you get to the top range anyways, you just start ahead and have more years of savings.

@timisa58 2 жыл бұрын

I have seen three different job postings for the same position. One has no salary information. The other two have ranges that are very different from one another. Posting #2 has a salary range of 30k difference. Posing #3 has only a 10K difference, but its upper end is 5K less than posting #2. Is this a red flag that should be negotiated? Questioned during the interview?

@AoCabo 2 жыл бұрын

Pay transparency is important, but I think in general, people tend to put way too much value on the base salary. It's critical to take into consideration the entire compensation package. The base salary for my current position is a bit underwhelming but considering the above average 401k, PTO, health care, and average performance bonus of 11%, the package as a whole is incredibly competitive. The company also treats people extremely well and it's a growth encouraging environment with high work-life balance, and there's no tangible monetary value to these aspects of the job. Also, you wanna shift your compensation away from your base where possible for tax efficiency anyway.

@michaelmurphy2112 2 жыл бұрын

I agree that base salary isn't necessarily the most important thing and the whole package needs to be evaluated, I am leery of bonuses. If it's high, great, but unless it's part of the contract, it's not guaranteed and is dependent on how the company does. Since getting out of the navy, I've had two jobs that offered bonuses. The first, nuclear instructor, paid an annual certification bonus upon completion of our instructor certifications at $15k/year (this was in our contracts) and there was the variable annual performance bonus that depended on performance evaluation (this put you in a per cent band) and how your supervisor felt about you (they determined where in the band you fell). My current position (federal employee) has similar bonuses, one for holding specific certifications, although this isn't in a contract it is in an instruction and is classified as a "retention bonus" and there's also the annual performance bonus.

@beardedpanda5086 2 жыл бұрын

Wow! Found this just in time. Do employers stay strictly within those bands? I’d their the flexibility to go up 1000 if you really have the skills for the role?

@elmateo77 2 жыл бұрын

Most large companies have strict bands, smaller ones are usually more flexible.

@peterpan408 Жыл бұрын

If you are too qualified or seeking an above average salary, they dont want you. They want an average employee willing to compromise on salary..

@joefaddoul1894 2 жыл бұрын

Do you know of any tips or tricks on how to request the employer to have pay ranges become published to the staff?

@elmateo77 2 жыл бұрын

Whatever you do, make sure to do it anonymously just in case management/hr throws a tantrum.

@elmateo77 2 жыл бұрын

I'd rather get paid well for years and be the first one they look at to cut in a possible eventual recession than not have to worry because I'm underpaid and they couldn't find anybody else willing to work as cheaply as me.

@dekippiesip 2 жыл бұрын

The thing is that you need to perform at the level of a senior in that role. If you are confident that you can do it, and come from an experienced position from another employer, go for it! But I think that's terrible advise for a university graduate just getting into the labor market. You don't have any experience in the job and seniors in the company are going to vastly outperform you in whatever you do for several years. It would be unfair to make as much money as them, i.e. be at the top of the stated salary range.

@elmateo77 2 жыл бұрын

@@dekippiesip I'm not saying a new grad should go in and demand a VP position, but don't be afraid to negotiate for the best pay you can get just because it might make you more likely to get laid off in some eventual theoretical purge. Save/invest a good portion of your income, so that if you do get laid off it's not a big deal and you have plenty of time to job search. Besides, if you're smart and work hard you can outperform people with decades of experience within 3-6 months in most roles. 90% of people in most companies are lazy and just doing the bare minimum to not get fired.

@dekippiesip 2 жыл бұрын

@@elmateo77 It does put extra pressure on you whenever you get that position. I personally don't like Dunning Kruger types(that state they are good at everything yet subsequently don't perform) and I don't want to be one of them. Inititially bluffing would make me feel more obliged to show I am really actually worth what I said I was, meaning I would feel pressure to work in my free time and feel stressed out at every mistake I made and slow progress shown. I like the extra money, but I know it means I don't get to play under the radar and get a 'new guy' pass for rookie mistakes if they actually offer that salary. But yeah I agree, many senior people are at a disadvantage when it comes to newer technology(cause they are older and used to the same old tricks), especially in IT where I work in. Also they have a more complicated private life, what naturally comes when you are older, have a family, etc. Meaning ambition is down due to private life constraints. That is indeed to my advantage.

@aclem8246 5 ай бұрын

Many, many jobs today do not give yearly raises much above cost of living raises. That is why employees today move from company to company ever 2 years because after 2 years you will get more money elsewhere as new hire wages increase much more over a couple of years and in many cases new employees are being offered the same rate of pay people who have been with the company are making with years of experience in that company because their yearly increase is not that much. There is no pension plan anymore and you take your 401k with so there is nothing holding anyone to a company anymore and companies know this which is why they don't even bother to try and keep employees anymore. It is just a revolving door.

@ForgottenKnight1 Жыл бұрын

I want to know the pay range so I can decide if I am going to waste my time or not.

@alittax 10 ай бұрын

Step 0: Apply through a recruiter. Recruiters get paid in proportion to your salary, and they know the salary range for the position you've applied for. Which means they're on your side: it's in the best interest of both of you to get as much money for you as possible. What do you think?

@thomasdalton1508 8 ай бұрын

They don't get anything if you don't get the job, though, so they would much rather risk you being underpaid than risk the job going to someone else they don't represent. They also want to keep the client friendly for future roles. If they get a reputation for always driving a hard bargain, employers might not work with them in the future. The general rule is that if you aren't paying someone then they aren't working for you. The employer pays the agent, not you, so they are working for the employer. Never forget that. That doesn't mean you shouldn't use an agent, but you need to look out for your interests because they won't be.

@alittax 8 ай бұрын

@@thomasdalton1508 Hi. Yes, that makes sense now that I think about it that way. What would you say is the best strategy for a salary negotiation? My thinking is to give them a little more than what you'd want as a middle value, like: "I'd like to be paid around 100k USD.", because if you'd want 90k USD, they may go down 10% to meet it, or you may even get 110k USD (they may just want to go down to 95k USD). But if you give them a range of 90-110k USD, you may only get 90k USD. What do you think? Thanks for reading and responding. Have a nice weekend.

@thomasdalton1508 8 ай бұрын

@@alittax I think it is best to try and avoid giving a number at all and let them make an offer they think is reasonable. You can then counter-offer if you think it is appropriate.

@alittax 8 ай бұрын

@@thomasdalton1508 Thanks again for the response. Yes, I'd respond by asking what the salary range is, but what if they insist that I give a number first?

@thomasdalton1508 8 ай бұрын

@@alittax I usually evade the question. I say it depends on the rest of the package, which has the advantage of being true.

@aclem8246 5 ай бұрын

It is a waste of your time applying and going thru interviews not knowing what the pay range will be. If a job posting doesn't give you an idea of the pay range that is a red flag in itself unless it is a job with a given range.

@stuffforwork 2 жыл бұрын

Aren't the percentiles given as percent of salary in that job (min for the job to max for the job), not $0 to max for that job? That is what the graph you showed said, immediately after you said $0-$Max).

@robertbrown2706 2 жыл бұрын

I assume he did that to make the math easy to see- no jobs have a zero dollar minimum for their range.

@elmateo77 2 жыл бұрын

@@robertbrown2706 Actually I've seen some where they ask you to work for free and offer maybe you'll get hired later, or want to pay you in equity (usually startups that are probably going to fail before the equity is worth anything anyways).

@quartytypo 2 жыл бұрын

Always end a job interview with, "What is the maximum you are willing to pay for this position?"

@elmateo77 2 жыл бұрын

If the pay range wasn't posted I usually ask for it during the initial phone screening. Not gonna waste my time going in person unless I know there's at least a chance of them making an offer I would accept.

@Troy_Built 2 жыл бұрын

I think the problem with pay transparency is most people can't evaluate themselves honestly. We had a problem just this last Friday with some employees that decided to get together and discuss their pay. Two are older people that are at the very bottom end of pay and ability. We hire in a new guy that started at more than either is making. He had 29 years of management but in a different field. As expected in just two weeks he is already out performing either of them. We have been trying to keep the others on because we are shorthanded and like to show some loyalty. Now they have been grumbling about the pay to coworkers. Them finding out the pay range is very likely to end with both of them out of work. Now if they were honest with themselves they could see they are both lower performers and should be paid accordingly.

@AllanSavolainen 2 жыл бұрын

If you are in the 99th percentile, you still can get a raise, big one, and still be in the 99th percentile, inflation raises the highest pay every year

@supersoundninja 2 жыл бұрын

Zoo keeper make between 25 to 35k a year it's a job you need a degree for, it's dangerous, specialized, needs a lot of work experience for entry level and they can get away with it because it's a passion job. It sucks.

@elmateo77 2 жыл бұрын

Yep, there are a lot of jobs like that. It seems like you can live a much better life if you focus on getting a job that pays well and then do what you love in your free time rather than trying to combine your passion and your work.

@PaperRaines 2 жыл бұрын

I saw firsthand somebody get hired at way above where the rest of the group was, and it was a distaster because he couldn't contribute above and beyond everyone else. His pay turned a normal growing pain period of a new guy trying to figure things out at a new company into a hostile situation that didn't end civilly. So absolutely, if you're going to ask for a high salary you better be confident you're going to not only fulfill, but exceed, the expectations put on you In some situations in life you need to learn to take value over aggregate price. Take a little less cash up front now, add the experience instead. Build trust, and get the money made up on the backend when you're more skilled and more established. Again, unless you're confident you can take all the weight immediately

@danew637 Жыл бұрын

I think you over complicate this , for mature candidate they have a lowest number they would accept for a offer, if a company is not offering that then no deal, simple as that , just like stock market trading , there won’t be any trade if there is no agreement between ask and bid

@chrisaustin6255 Жыл бұрын

The pay of the group is irrelevant to my salary.

@ThePrimeMinisterOfTheBlock 2 жыл бұрын

I don't like them. They give you an upper cap that's very difficult to negotiate past.

@SuprousOxide 2 жыл бұрын

The pay ranges exist, whether they tell you what they are or not

@ThePrimeMinisterOfTheBlock 2 жыл бұрын

Uh huh. Tell me more

@leekappes 2 жыл бұрын

Many years ago I negotiated a job offer up to a very large amount for the position I was applying for. IO was at that job for 4 more years and didn't receive a raise until a 25 cent raise in the final year. I always thought that was dirty of that comapany.

@TheNightstalkerShow 2 жыл бұрын

Those white transitions are hard to see over a white wall in the background. Choose another color please.

@samathastevens5831 Жыл бұрын

The "equal pay for equal work" acts were designed to make pay equitable for women and minorities. As sadly, there is still a pay gap. I work in customer service. Everyone does the exact same job with no variance. When a company doesn't want to show the wage or pay range, then it's typically at or below the market rate. Browse through their customer service jobs. If those jobs are below market rate, and there are bad employee reviews, then you probably only want a job with this company if it's a recession or you are looking to put experience on your resume. In 2 to 3 years you can typically move on to a great company with a decent pay. And if a company doesn't invest in customer relations, how long will they be there?

@JS-ys2uk 2 жыл бұрын

I think you are wrong about the wage range law for other states. It only applies to companies that have a presence somewhere in that state. Obviously states have no jurisdiction over corporations in other states and cannot force them to provide the range. The issue was that companies that had a base of operations in Colorado were trying to say no Colorado applicants for remote jobs. Those people were told they are not exempt from the law

@jeffkadlec8264 2 жыл бұрын

I HATE pay transparency. I work for a large company, and due to leaving the company and then returning, I came back at a lower salary. Now, I was awarded a new position, and I am performing at the top 75th percentile. Due to pay transparency, I now know that I am one of, if not THE, lowest paid people in my position in my Company. There are no possibilities of mid year increases. And I have to live with this knowledge. And at the annual salary review, I can't get an increase that is high enough to get even to the middle of the range. If I get a high enough raise, each year, I'll be in the middle of the range within 10 years. 10 years. I HATE pay transparency. I was perfectly happy with my salary. Now I have to know I'm at the bottom. And doing a good job. And unable to make more. I hate having this knowledge.

@elmateo77 2 жыл бұрын

Dude. Find a different company to work for. If you need to improve your skillset first then do that.

@francargeric1 Жыл бұрын

That's like someone telling your wife is cheating on you and getting angry with the person who told you instead of the one who cheated on you... Pay transparency isnt what stops you from getting a raise or a promotion, and the only thing that should be important is if you can afford living and what kind of expenses you are allowed to, who cares what the rest does?

@jeffkadlec8264 Жыл бұрын

@@francargeric1 Company policies don't ALLOW for mid year bumps. So pay transparency PLUS that policy upset me. However, I recently got a promotion with a hefty salary bump!

@francargeric1 Жыл бұрын

@@jeffkadlec8264 congrats!

@theresarose2473 2 жыл бұрын

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@migueldurrelo8951 2 жыл бұрын

@Jason maroon I trade with a professional broker Mr. Joseph Hamrick he brings me massive returns.

@josephcarl5261 2 жыл бұрын

$16,000 That's really big. I trade on my own, but I've only made $2,800 in a month

@braindrude5730 2 жыл бұрын

Wow!! I thought I was the only one trading with Mr. Joseph, I just withdrew my profits of $25k after investing $3,500, in two weeks of trading

@rolandsam1529 2 жыл бұрын

@@braindrude5730 you should go on long term investment. I'm a long term investor, I started at the beginning of the year with $10,000 presently I'm having $103,700 on my dashboard, it takes patience

@cynthiahenry6821 2 жыл бұрын

Wow..!! that's amazing, please how do I started trading with him?

@dixsusu 2 жыл бұрын

J.O.B. = Just over broke . Get out of corporate !

@TheOneTrueMar 2 жыл бұрын

How to calculate proper salary during interview: Step 1: Take your last salary Step 2: Add around 10% (depending on your situation) Step 3: Add additional precentages depending on additional risks and responsibilities that the job brings Step 4: You have arrived at the proper salary to ask for

@rejectwokeness1314 Жыл бұрын

Nah I don't agree with earmarking with previous pay. There are brilliant ppl who are paid less or in poor paying companies, there are crappy ppl who has connections or luck to be in a good paying employer. It's about what you can contribute.