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Know Your Numbers (Salary)

Many recruiters make this mistake.

They accept point blank the budget provided by their clients, without questioning it.

After a few sleepless nights of searching, they have no candidates that fall in that budget range. They went back to the client sheepishly with the news, or worst, they continue to search fruitlessly.

When a new hiring mandate is received, the first thing is to do a quick market research to get a sense of the salary benchmarking for different levels of experience for the same role.

In my experience, the best way to do this meaningfully is not relying on a salary report provided by consulting firms. Those figures do not paint an accurate picture of the day to day candidates you would be speaking with.

Instead, connect with a few candidates that are relevant for the role and engage them earnestly for a complete understanding of their current salaries, and expectations. You get an accurate snapshot of the candidate landscape which you can use to discuss meaningfully with your client.

With the right data points which are fresh off the oven, your clients will appreciate your ability to bring updated relevance to their immediate hiring needs.

You have just helped your client justify a budget adjustment. It is a win for the client as they are in a better position to hire, a win for the candidate because they will be properly compensated, and a win for yourself because you will end up closing the deal successfully.

p.s. Follow me on LinkedIn and DM “The Solo Recruiter” if you need further help with hiring budget strategy.

Joo Kwang
​Author of Solopreneur’s Guide to Recruitment Business

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