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there is a ton of lowballing going on in employment due to the excess of talent.
That is simple, market-driven, supply and demand. Employee skill sets are like any other commodity. If there is a shortage of something in the marketplace, the price goes up; if there is a surplus, the price goes down.
Why do companies want to know what you were paid in the past? It really is none of their business. What does that have to do with the job you are applying for?
The job you are applying for should have a range and the more experience you have the higher within that range they could consider paying you. That range is what is negotiated when getting hired. Most companies I have worked for say they only release the dates that you worked for them.
We should be the ones that ask an employer what range that position pays. Then if the range is too low, we know not to bother going for the interview which would waste our time and their time.
This type of person views a potential employer as a possible partner, not as, "the enemy."
I'm sorry but when a company bullies salary information out of candidates while refusing to disclose their salary range to gain a negotiating advantage that is very hostile and makes honest negotiations impossible. That is the root of this adversarial situation.
I am not sure under what circumstances most companies will disclose your salary and how they know the person asking is a potential employer, the background check contractor, or a bank verifying income for a mortgage.
Personally I think most companies should respect a candidate's right not to give the info if they are uncomfortable. If the candidate is uncomfortable they are probably underpaid, they know it and are angered by it which is why they are looking, and if you use their salary info to lowball them you will anger them and they will either reject your offer outright or they will take it and quit soon after for a higher offer either way the company loses.
I worked in HR 10 years ago. I was not allowed to give out salary info, but I could verify salary information if they gave me the number first. I don't recall ever being asked for someone's salary info, almost always I simply verified dates of employment and job title. Legally most companies are careful to give out as little info as possible to avoid lawsuits.
Ideally yes. Unfortunately most companies I've seen the only time they compensate according to the value added is as the employee is walking out the door with a better offer. The only time you get a fair offer is when the new company is unaware of what you are currently making and can be lured away with especially if you are underpaid. Most companies will offer current salary + 10% maximum. If you want a bigger jump they cannot know your current salary or you will fight a losing battle with HR.
See, this is totally alien to my experience.
At every annual review, you have an opportunity to say, "I've boosted revenue X%, which amounts to a $XXXXXXXX net for this company." Or you can say, "Due to my cost containment efforts, I've managed to save this company $100,000 this year alone. If you look at our net as a percentage of sales, that would be the equivalent of bringing $5,000,000 in sales to the company." If your facts are indeed accurate, then this will create awareness in the mind of management about how you are fiscally contributing to the success of the company.
I've worked as a consultant for 12 years now, and that's one reason I can ask for nice payments from the client. I had one client alone whom I found $70,000 in additional annual profit within the first FIFTEEN minutes of my engagement. Literally sat down in the first meeting, looked at their income statements, pulled out a calculator, and said, "Well, there's your problem." And you better believe that I brought that up six months later when it was time to review my contract.
And that's kind of the problem. People never walk into those reviews armed with this kind of data. They fumble around and say, "Well, I worked really hard this year, Mr. B...." making their point in purely anecdotal terms. Well, business is about numbers and dollars and cents, so small wonder those people get a cost of living raise. If, on the other hand, you remain constantly aware of positively affecting the net profitability of your employer and are armed with the facts to prove it, then you are speaking the language of the executive suite.
If you can prove it and still can't get a raise, then walk away. For those same numbers will impress someone else who will understand that you are a profit center for whoever employs you. But don't languish around for years complaining about the unfairness of the system.
A lot of the applications employers request online require you fill in the salary field before it will go to the next field. You can't type in negotiable or any other text. The field requires a number and you have to put something down or else you can't complete the application.
I worked in HR 10 years ago. I was not allowed to give out salary info, but I could verify salary information if they gave me the number first. I don't recall ever being asked for someone's salary info, almost always I simply verified dates of employment and job title. Legally most companies are careful to give out as little info as possible to avoid lawsuits.
Welcome to the new normal. Your salary history down the last detail is likely for sale, courtesy of Equifax. This should be illegal but isn't, and more people need to get vocal about it.
Bull crap. I worked with some really great employees at my last job at an F50 and they just paid and treated everyone like crap. As soon as I left them for my current position I got a 40% raise and full benefits followed by a raise and great performance review in less than one year. A lot of companies are out there that view their employees as parasites to be starved andn there is a ton of lowballing going on in employment due to the excess of talent. I've seen very little meritocracy at corporations.
If they were great employees, they would have left to get something better. There is no such thing as 'excess talent'. Talent is relative, not absolute. If they treat someone like crap and that person puts up with it and doesn't prove they are worth something different, they aren't as good as they think they are.
And that's kind of the problem. People never walk into those reviews armed with this kind of data. They fumble around and say, "Well, I worked really hard this year, Mr. B...." making their point in purely anecdotal terms. Well, business is about numbers and dollars and cents, so small wonder those people get a cost of living raise. If, on the other hand, you remain constantly aware of positively affecting the net profitability of your employer and are armed with the facts to prove it, then you are speaking the language of the executive suite.
If I have to spell out exactly how much I've contributed to the company and profits then management isn't doing their job. They are the ones who need to track expenses and profitability. If the only time they are able to do that is after the employee gets a better offer and quits and they see the loss they have failed as managers. It is the managers job to review employees and their value not the employees.
Welcome to the new normal. Your salary history down the last detail is likely for sale, courtesy of Equifax. This should be illegal but isn't, and more people need to get vocal about it.
I thought they didn't put salaries on credit histories. I looked at one of their websites, it does say they will provide income verification with one of their services. Isn't this something one would have to agree to release? It's certainly not a good idea to lie if info is this easy to come by. I guess privacy isn't really a factor these days.
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