Help in Assessing Market Salary Range
I interviewed with a local company this past Friday who found me listed on my alumni job board. This company has had great success in hiring grads from my alma mater and continue to use that pipeline as needs dictate. This company is the leading pharmaceutical contract manufacturer and packager in the U.S. The position I interviewed for has the title of Customer Project Manager, and is a part of the Sales & Marketing division. Due to great growth (20% compounded annually since 2000) , they require another person for this position. They hired two in the last 6 months and have 9 total in this area. The position is the key customer contact and drives the entire process, and as such, is a very visble position. It would allow me to use both my engineering background and MBA in a great combination. However, since I am not using a recuiter, I am at a loss on how to judge the going market salary range for such a position. Does anyone have any sites besides Salary.com to find out this information? The Senior V.P. of the Sales & Marketing Division asked me during my interview what my current salary was. This was a question I sidestepped in my cover letter, but was asked a specific number. I didn't want to lie and stated what my current compensation was, including bonus. He then commented that was within his range, and before I could ask what that range was, he moved onto another question. Perhaps I missed my opportunity to find out what the offered range was, but am hoping that those on these boards can continue to provide great suggestions and tips. Thanks! Rather than rely on any external salary data, if I were you, I'd come up with a salary range that's at least 10% to 15% more than you're earning now. Ordinarily it doesn't make sense to switch jobs for a salary that's at least that much higher than the one being currently earned. Since you made it clear that part of your compensation is bonus, I think you can come up with a salary range that's reflective of the combination as your anticipated salary range. Obviously, you don't want to switch jobs for the same dollars - that makes no sense at all, and my bet would be that the prospective employer would understand that, therefore, your goal is to advance your career based on how well your qualifications for this particular job match the requirements for this particular job - not on the basis of what some external survey says jobs like this one pay. Furthermore, you should have a salary range in mind in which you reasonably want to be before you initiate a job search so you don't have to attempt to be coy about your anticipated salary range in the future. Make sense? Paul W. Barada The Negotiation Expert
Yes, the advice makes sense. I have already have started the process of identifying a salary that I would like, and am ready to offer the potential employer the reasons as to why I am worth it. I agree that it does not make any sense to change jobs without increase in compensation, yet I continue to receive calls from recruiters who try to convince me of doing just that. Perhaps if I was currently unemployed or are looking to move into a new career altogther, fine; otherwise no. Unless there are compelling reasons to make a lateral move, I would never switch jobs for essentially the same dollars - that's now how one advances one's career! Paul W. Barada The Negotiation Expert One advances one's career by taking on more challenges, more responsibility, more breadth, more supervision, leadership, and management.
Not by earning more money, necessarily. Of course recruiters want you to switch jobs at the same salary level. They are in it for themselves, not you. I can't believe that your position isn't similar to others, whether or not in the pharma industry. So look at those other jobs that require the same education and experience that you have and see what they are paying. That will give you a sense of what the market value of the position is.
Thanks, Chet8625. I am aware that the skills I currently use can, and will, be applicable in this new opportunity. I was just trying to determine what difference, if any, exists in the market between the food and pharma industries. Obviously, both industries have different profit margins. Plus, in this new position, I would be a part of the sales & marketing team; running point as project manager on 5-6 multiple accounts while directing engineers, purchasing, etc. In my current position, I am a part of the operations division as an engineer who manages projects at multiple locations. A slight difference but not sure how that affects compensation. I'd call fresh challenges, more responsibility, more breadth, more supervision, leadership, and management as compelling reasons to consider a lateral move. Paul W. Barada The Negotiation Expert | |
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