The dreaded topic of salary expectations and negotiation can pique an employer’s interest or simply result in your resume landing in the trashcan. When it comes to resumes and cover letters, it is ideal to submit both for each targeted job. A cover letter is your opportunity to give your resume an extra zing by showcasing company knowledge and your personality. It is good practice to never voluntarily discuss salary expectations on a resume or cover letter unless the job posting specifically asks for this.
When an employer requests that you include salary requirements in your resume and cover letter, they want to determine the amount of compensation you need to accept a position. Employers are also assessing whether they are able to satisfy your financial aspirations. Salary is based on several factors which include prior salary history, previous work experience, one’s skills, the industry, and the current cost of living.
If you are asked to state you salary expectation in your cover letter, consider the following tips to ensure you do not turn off an employer.
1. Do NOT give a single figure such as: $65,000.
2. DO conduct research to get an appropriate range for your target job – use sites such as Neuvoo Salary , Glassdoor Salary or PayScale Canada to gather information that will help you estimate a sensible range.
3. Do NOT state “the more, the better.”
4. BE flexible and reasonable if the employer insists that they can only pay you a certain amount that is still within the lower ends of your desired salary range.
5. USE different cover letter salary expectations for different individual jobs that you are applying for. To do this, consider the size of the employer, location, and the role. For example, a large accounting firm in the city centre will likely pay that $65,000 you are seeking (compared to the small accounting firm down the street).
All in all, when crafting the portion about salary expectations in your cover letter, be sure to emphasize that you have done research and based on that, your salary would be in the $XX,XXX to $XX,000 range. Also mention that the actual salary is open for negotiation, and do not forget to reiterate that your resume is attached, which highlights your accomplishments and what they can expect from you.
Still stumped after reading this? Feel free to contact me at info@greatresumewriter.com to discuss how a cover letter can be created, along with a supporting resume to prove that you are worth what you are asking.
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