Embracing transparency and authenticity in salary discussions

In the modern job market, the old adage “money can’t buy happiness” is being challenged by a new wave of jobseekers who recognise the importance of financial security alongside job satisfaction. As fresh graduates step into the workforce, many are no longer willing to downplay their salary expectations, recognising the importance of aligning financial rewards with their career goals.

A 2024 survey by GTI Media found that nearly 80% of fresh graduates are concerned about the cost of living on a graduate salary. This underscores a significant shift in jobseekers’ priorities, where salary has become a top consideration, especially in an era marked by economic uncertainties.

However, navigating the delicate balance between expressing passion for a role and discussing compensation remains a challenge for many. The tension between these elements is not just about personal priorities but also reflects broader expectations around transparency and honesty in the hiring process.

Kishen Anker, People Partner at YouGov, weighed in on this evolving landscape. “Today, transparency in job postings regarding salary is widely viewed as a best practice. When organisations provide salary ranges, it fosters trust and sets clear expectations for applicants,” he told HRM Asia. This level of transparency can help attract a diverse pool of candidates by eliminating the uncertainty that often prevents jobseekers from applying.

Indeed, job postings that openly share salary ranges are becoming increasingly common. A 2023 Gartner survey in the US revealed that 44% of candidates chose not to apply for positions where no salary information was provided. This trend not only saves time for both employers and candidates but also signals an organisational culture that values open communication and fair compensation.

But what about the interview stage? Anker believes that jobseekers should feel empowered to inquire about salary during the interview process, though he advised doing so with tact. “When asking about compensation, they not only demonstrate an interest in the role but also allow them to assess whether the position aligns with their financial needs and career goals,” he explained.

For fresh graduates and early-career professionals, this can be daunting. There is often a fear of being perceived as too demanding or solely motivated by money. However, Anker suggested a strategic approach, stating, “Revealing one’s salary expectations can be beneficial, as it provides a starting point for negotiations. However, candidates should be cautious and consider the potential implications of disclosing a figure that may be lower than what the organisation is able to offer.”

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Instead of diving straight into their own expectations, Anker recommended a more subtle approach. He said, “My approach would be to ask the employer what they believe is a fair salary for the position. This provides insight on the organisation’s compensation philosophy and help gauge one’s market value.”

Yet, the key to successfully navigating these discussions lies in preparation. “All in all, the approach to discussing salary should be guided by adequate research and preparation,” Anker emphasised. He advised jobseekers to familiarise themselves with industry standards and, where possible, specific organisations’ compensation practices. “By gaining such knowledge, they will be more empowered to engage in informed discussions, ensuring that they advocate for fair compensation while still being able to align with their employer’s expectations,” he concluded.