Before finalizing your offer to a candidate, take time to ensure that the salary and benefits package is appropriate. As part of this salary guide, our JDC Group recruiters recommend that employers get an idea of current market rates for comparable positions, determine where the offer should fall within that range, and weigh any additional factors outside of dollar amount, such as benefits and flexibility.
Please remember, this guide cannot replace the input you receive from your internal Human Resources team. HR most likely has a pre-set salary range that you will need to use—but you may find yourself with wiggle room within that range. That wiggle room is where our guide helps.
Get a feel for the market rate
It is important to know what the market is doing before you make an offer. You want to make an offer that is appropriate, but not extravagant. A bit of research can help you make the right decision.
You can get a rough sense of the market value for a position by searching online. Job boards, like CareerBuilder.com and Monster.com, and online salary calculators, like Salary.com, can give you a reliable market range based on your location, the title or level of the position, and the candidate’s experience level.
After you have done your online research, talk to your recruiting company. Larger staffing companies often publish aggregate salary data, which they will translate into bite-sized info or otherwise make available in searchable databases. Local recruiting companies, like JDC Group, work closely with their clients to set the right pricing for the job’s needs.
Consider the circumstances and the candidate
Certain factors make the job or the candidate more valuable within the market. Covering niche skill sets will make candidates more in demand and require higher pay to fill. Other factors that may drive up price include hiring out-of-town talent, filling a short contract (in instances of contract roles), overall supply and demand for similar candidates/positions, and amount of experience you require.
Weigh the whole offering
If you and a candidate do not see eye-to-eye, or if the market suggests you may need to offer more than you are approved for, remember that there is more to a salary package than just dollar amount. In addition to overall salary, consider offering:
- Performance-based bonuses
- Signing bonuses—these are especially desirable in a hot permanent market
- Extended contracts—these are great for contractors. For example, if you originally offered a 3 month contract, you may be able to increase it to a 6 month contract.
- Remote work opportunities—According to a Global Workplace Analytics study [http://globalworkplaceanalytics.com/telecommuting-statistics], 36 percent of employees would choose a work-from-home option over a pay raise. If your corporate structure allows for this kind of flexibility, it is a huge perk: the same study showed that as many as 79 percent of employees would like to work from home.
- Job title—You may be able to adjust the job title to indicate more responsibility. For example, instead of “Developer,” use “Senior Developer” or “Engineer.” This can be meaningful to candidates that appreciate recognition for the level of experience they bring.
One last thing to remember is that job fit is very important. Making sure your job offering meets the career goals of the candidate can often be more important to them than a higher salary. For example, if they love to learn new technologies, you will want to confirm that the role offers opportunities to work with those new technologies instead of solely focusing on operating and maintaining outdated software and tools.
If, after making these adjustments, you still do not find candidates that fit the job description in your pay range, you may need to consider reducing the qualifications required. Does the role really need 5 years of experience, or would 3 years do? Do you need someone that has worked in the industry, or just someone that knows that technology well?
Employers in the IT industry can benefit from the talent-finding expertise of recruiting firms like JDC Group. If you are looking to hire for an IT position, our recruiters can help you to determine an appropriate salary range and find great talent to fill the job. Contact our recruitment team to get started.