Benefits of sharing salaries

The Benefits of Advertising Salaries in Job Adverts

Should you share salaries during the hiring process?

Aisha Barnes explores the pros and cons

In the competitive world of recruitment, the question of whether to advertise salaries in job adverts is a contentious one. While some argue that it attracts the right candidates and saves time, others worry about the potential drawbacks such as limiting negotiation potential and attracting salary-focused candidates.

Should you advertise the salary in your Job Ads?

I’ve had several conversations with both candidates & clients about their views on Advertising salary on job adverts. Most were in favour of the salary being advertised, so why are there so many roles out there with no salary information…

What Puts Companies Off?

1. Limits Potential to Negotiate

Having a salary range may mean less applicants as they can automatically rule an opportunity in or out based on salary alone

2. Attracts More Salary-Focused Candidates

Could attract a pool of candidates that will apply solely based on the salary, rather than the job creating more work

3. Competitive Disadvantage

Competitors can use salary information to poach talent directly from them or adjust their own salary offerings to be more competitive.

  4. Internal Conflicts

Existing employees might feel disgruntled if new hires are offered higher salaries for similar roles, leading to dissatisfaction and turnover.

5. Complex Salary Structures

Salaries often depend on various factors like experience, skills, and education and would be difficult to convey on a job advert

Things to consider

Although the above potential risks are valid, they often cause more difficulties within the process such as:

Wasted time on both sides with candidates whose salary expectations are too high

More quantity of candidates rather than quality

Salaries need to be benchmarked on market value not just on internal salary values

Why I’m an Advocate for Salary Advertising

1. Attracts the Right Candidates

Job seekers know immediately if the salary aligns with their expectations, leading to applications from people who are generally interested. Nothing worse than interviewing a great candidate that you can’t afford!

2. Saves Time & Therefore Cost

 Saves time for both employers and candidates by focusing on opportunities that match financial needs and expectations.

3. Builds Trust

Great for Employer Branding as candidates feel that companies are being open and honest about compensation which can be the start of a great candidate experience.

Companies that are transparent about salaries are be viewed more favorably, enhancing their reputation.

4. Reduces Pay Inequality

Publicly posting salaries can help address gender and racial pay gaps by standardising pay rates for similar roles.

Can also create a more level playing field during salary negotiations, or even support in updating processes around salary review with clear pay ranges for each level.

5. Improves Job Satisfaction

Candidates are less likely to be disappointed if the salary is known upfront, leading to better job satisfaction and retention.

How can I help? Although you may see the benefits of advertising salary on job adverts, there may still be some very real risks/concerns in doing so. Companies partner with us to keep this information confidential through our anonymised job adverts that can display the salary, while not revealing the company name or brand.

I have included a Salary Benchmarking guide that HR Heads has compiled to support in ensuring that you’re open or future hires are competitive with the current market rates.

If you would like any specific market insights regarding Financial & Professional Services roles, it would be great to hear from you…