Details for a Salary Requirement Letter
Job postings may ask for salary requirements and history. As a rule, if the post doesn’t ask, don’t offer any. It’s also advised that you don’t talk about salary in the interview unless the hiring manager inquires.
If the subject does come up, the best avenue is a salary requirements letter.
Why Employers Ask for Salary Requirements
- Salary requirements are a screening device that simplifies candidate selection.
- The question lets hiring managers know if you’re just right, over-qualified, or under-qualified (good salary, too much, too little, respectively).
- Hiring managers see how you value yourself.
- Satisfying the company’s bottom line is ultimately a hiring manager’s objective, alongside locating the candidate that fits.
So Now You Need a Salary Requirement Letter
Before you write your letter, you need to look up salary ranges for the position based on research of the area and industry. Professional organizations and websites (PayScale and the Bureau of Labor Statistics) can supply salary data. Professional organizations and websites (PayScale, Bureau of Labor Statistics) can supply salary data.
If by chance you can’t find salary information, take your last salary and add no less than 10% to it. Take heed that hiring managers will likely lean toward the lowest number of your range. Make sure that low number is one you’re willing to accept. Never ask for less than what you’re worth.
Avoid answering questions about salary as long as possible. If your number’s too low, you hurt yourself. If it’s high, you take yourself out of the running. When it’s brought up, mention you have a salary requirements letter and will submit it if they like.
Writing the Salary Requirements Letter
Use your research to create a salary range. Factor in that your value is founded in market demand, experience, education, and skill.
The opening paragraph should stress how your background and education make you the perfect candidate for the position. Spend the next paragraph (or two) detailing why you deserve this position, not why you deserve a specific salary. Focus on your mission: using your credentials to justify your worth.
Close out with a paragraph that states research, experience and the job description makes your suggested salary range acceptable, and that the numbers don’t include benefits, bonuses, etc. Close out with a paragraph that states that your salary range suits your experience and the job description, and that the numbers don’t include benefits, bonuses, etc.
Before you get to the salary requirements letter, you’ll need a resume. Use our Resume Builder to design credentials that highlight potential and prove your value.