* Salary calculators help you figure out what your worth in today's job market is
A friend seeking job search advice called me the other day. He has been out of work for quite some time, having lost his job over a year ago when his company hit hard times. With a degree in Management Information Systems, his skills tend more toward project management and business process management than toward the technical side of the business, so he’s not too worried about his skills becoming rusty.He understands that the type of job he wants can be harder to find than a pure technical position. Still, he has not lost his optimism for finding a new job.
A friend seeking job search advice called me the other day. He has been out of work for quite some time, having lost his job over a year ago when his company hit hard times. With a degree in Management Information Systems, his skills tend more toward project management and business process management than toward the technical side of the business, so he’s not too worried about his skills becoming rusty.He understands that the type of job he wants can be harder to find than a pure technical position. Still, he has not lost his optimism for finding a new job.
He had called specifically to discuss salary expectations. He was wondering what his worth is in today’s job market. His previous job paid him about $90,000 a year, and the one before that was over $110,000. He believes it is reasonable to expect a range of $80,000 to $100,000 in a new position.
He recently interviewed for a position that matched his resume perfectly. He figured it was a slam dunk until the interviewer asked for his salary expectations. When he gave his desired range, it was clear that the interview was over. Although the job required significant travel and a high level of responsibility, the employer couldn’t even begin to approach the low end of my friend’s scale.
So, he wonders, has the market changed that much since his last gainful employment? He knows it’s an employers’ market, but are the hiring managers trying to low-ball the candidates to get them to take huge cuts in pay? Or, are his demands just out of line with today’s norm? How can anyone pinpoint his worth before stumbling on that highly charged interview question, “What kind of salary are you looking for?”
There are two good salary sources to which I refer people. One is the Networking Salary Calculator , a free tool from Network World (you do need to register to use this tool). The calculator is updated annually based on the yearly Network World Salary Survey.
The second salary tool I tell people to use is the one provided by Certification Magazine . As you might guess by the name of the publication, this salary calculator is aimed at people that hold some type of technical or professional certification in the IT field. Like the Network World calculator, this one is free and requires registration. And, the annual survey just closed, so new figures should be available soon.
The Networking Salary Calculator is currently based on 2004 salary data – gathered by surveying Network World readers – but it is due for an update soon. Regardless, 2005 salaries are not significantly different from those in 2004, so it’s safe to use this tool to figure your worth today.
This tool allows you to select positions from three categories: executive level, director/manager level, or staff level. Then you input a few more details, such as the number of years on your last job, your education level, the size of the network you are responsible for, where you live, and so on. Press the button and out comes…an average salary for your profile. If the salary is more than you’re earning now, Network World steers you toward other online resources to improve your career: advice articles, pointers to career-building resources and searchable job postings. Heck, if your current employer won’t pay you what you’re worth, maybe someone else will.
Certification Magazine’s calculator first asks for your IT certification. Unfortunately, it only accepts one, so if you have multiple certifications, the tool doesn’t take that into account, so enter the one you think is most valuable. You also input your years in IT and your location. Press “calculate” and see the dollar signs for your profile.
Of course, these tools only tell you what kind of salaries your peers had in the past year. They don’t take into account the fluctuations in the economy, your (non-IT) industry knowledge, or even what employers are willing to pay to hire you today. However, these calculators at least give you an idea of what is realistic for your level of experience and your geographic location. They can tell you if you are way off base in your salary requirements/expectations.
On the flip side, if you are a hiring manager and you want to know what to budget for a new hire, the calculators are a good place to start, especially if you don’t plan to use a search firm to locate candidates.
As for my friend, Network World thinks he is worth the low end of his salary range. Certification Magazine, however, says his project management certification has value and moves him toward the higher end of the range. Either way, at least he now knows his demands aren’t unreasonable. It must have been the brown shoes with the blue suit that lost him the job in that last interview!
Linda Musthaler is vice president of Currid & Company. You can write to her at mailto:Linda.Musthaler@currid.com
