We tend not to talk about how much we earn.
Years ago, it was because it was felt to be vulgar to talk about money, and that bragging was something that was just not done. These days, it may be that we don’t want to be seen as not earning enough.
But whatever the cause, the fact that we don’t talk about the salary we earn, in general, can cause problems.
The problem for employees
This is a problem for people thinking of applying for a job, or a promotion, and unsure of what kind of salary they should be asking for.
It can be difficult, if not impossible, for them to find out the going rate. Is that employer being mean or realistic? Should they be looking around for more, and what really is the going rate for the job they do?
Things can come to a head in the interview when you ask what they are earning now. If they are not earning enough, their fit for a new and better paid role might not look realistic – even though they may have the skills you want.
If they are expecting more than the job was going to pay, everybody has had their (valuable) time wasted.
The problem for employers
The problem can be nearly as difficult for those looking to recruit. Staying in touch with the latest salary information is essential for employers in the fast-paced world of business. Perhaps you are expanding and costing out the new team you must have. Perhaps you are looking to bring in key new hires with particular skills, and don’t know what you need to offer to even get the people you need to read the job ad.
Perhaps you have a key person who is already with you – who you want to keep happy, and who wants more money to stay. Are they being reasonable, or downright greedy?
It is a highly competitive environment and, while you can’t afford to pay too much for people, you can’t afford to run the risk of paying too little and not attracting or retaining staff.
If you don’t know what to offer the people you need in your business, you might not be able to bring those people in.
The problem is made worse by the fact that salaries have been steadily going up. A rate that brought in a senior person a few years ago might only attract a middleweight in today’s market. You need to know the real figures on what various jobs pay now.
The solution for all
The solution is to find a source of salary information that you can rely on.
Business funding specialists Rangewell work with businesses across every sector, and have put a new online salary guide together.
A Rangewell spokesperson explains; “We help our clients find the funding solutions that they need – hunting through all the lenders in the UK to find the best deals. It has given us a clear understanding of the challenges they face – and of the importance of understanding the costs of building the team they need. That’s why we have assembled our salary guide.”
It’s reliable – Rangewell has a team of data experts who looked at a number of sources, and built it around the the figures used by the ONS, the Office of National Statistics, generally accepted as the foremost authority when it comes to employment statistics.
It’s also up to date. It allows you to check how salaries have changed over the last 7 years, as well as what they are today.
And best of all, it’s easy to use. All you need is the job title of the role you are interested in – and it will give you the figures you want in a moment.
It’s a valuable source of information – and like all the services from Rangewell, it is free and is waiting for you to use here.