How important is a salary in a job advertisement?

In this blog, we wanted to assess the importance of salary for our candidates when searching for jobs, not only on our website but when searching across job boards and company sites.

We wanted to know how much you value salary information on job listings. Did you put it at the top of your list when you started your job search? Or was there more important information you wanted to see first? The results painted a very clear picture, with 84.38% of respondents stating they would not apply for a role that did not state a salary - or salary range - in the job advert.

This does not come as a great surprise as research shows 67% of candidates prioritise salary when searching for a new role. With the job market being so competitive (job postings reaching a record high and talent shortage becoming increasingly more prominent), if your business is not advertising a salary, you risk losing full engagement on your advert. Furthermore, if you include a salary but your business is not offering competitive remuneration, you risk losing top talent to competitors.

The reason candidates prioritise salary on job ads is to make sure the job is right for them and worth the time applying for it… we work to live, not live to work, right?

Some individuals use pay as an indicator of seniority and suitability - if the salary is too low, the role is probably too junior, likewise, high salaries suggest the role is very senior and might not be right for the individual until they gain more experience. This is a bonus for companies as well, being transparent with salaries could increase the relevance of candidates applying for your position.

In rare cases, people will take a pay cut for a new role; this can be to gain new experience, change career paths or reduce hours. However, the most popular motivator when searching for new jobs is to seek a pay rise and/or an increase in responsibilities.

One of the reasons people search for a new role rather than seeking internal promotion is because they feel more confident negotiating salary with a new employer rather than asking their line manager for a pay rise. A study has found that employees who stay in a role for longer than 2 years can earn 50% less than their counterparts who are willing to jump from job to job. However, we would always recommend going to your manager first and expressing your drive for development; learning new skills, taking on more responsibility or going on a training course might be available for you at your current employer, which could quite possibly result in a pay rise.

In a tight labour market, such as the one we are currently experiencing, having skills that are in high demand gives you extremely high negotiating power; giving you a fantastic opportunity to increase your salary.

If you want to find out if you have an in-demand skill, you can check out the NIdirecits website here.