In the world of job hunting, there’s often one crucial piece of information that job seekers focus on – the salary. However, in today’s job market, it’s not uncommon to come across job adverts displaying salaries as “competitive”, meaning a salary that is equal to, or greater than, the average salary for similar roles in that industry.

From our own 2023 Life Science & Chemical Job Market Survey, we found that 66% of respondents stated that salary was an important driving force to them in their decision to start looking for a new role.

We wanted to delve further, so we created a poll on our LinkedIn to see if potential job seekers would still be willing to apply for a position if the salary is wasn’t displayed? An overwhelming majority of 64% of respondents answered that they would be less likely to apply for a job without a salary, with 22% stating they would not be put off at all, and 14% selecting that they would not apply for the position at all. This clearly shows that by not displaying a salary bracket, you are significantly reducing your pool of candidates.

Why do employers not advertise salary?

Some argue that excluding the salary can deter potential candidates from applying, as we know many job seekers prioritise the salary and financial stability when considering job opportunities. On the other hand, some employers suggest that by not disclosing the salary upfront, they can attract candidates who are genuinely interested in the role and the company, rather than those solely motivated by potential earnings.

However, it is also important to recognise strategic reasons for not publishing salary. Some companies may have a flexible budget for the right candidate, or they may prefer to discuss salary expectations during the interview stage, allowing them to tailor the offer based on the candidate’s skills and experience.

How does this influence job seekers?

For job seekers, the decision to apply for a job without a displayed salary can be influenced by various factors. Some may be willing to take the chance if the job description aligns with their career goals or is with a reputable company. However, others may not want to invest the time and effort into applying for a role without knowing whether the salary on offer meets their expectations of a potential income.

Ultimately, the decision to apply for a job that does not display salary depends on an individual’s priorities or circumstances. While some job seekers may be open to the opportunity, others may prefer to prioritise roles where salary information is transparent from the start.

So why should employers advertise salaries?

Transparency with salary information has become increasingly valued in today’s job market, with many job seekers advocating for its inclusion in job adverts. Not only does being transparent around salary make the recruitment process more efficient, it also supports fair and equal pay across companies, something which many strive to achieve.

As experienced recruiters, we recognise the importance of posting salary ranges, particularly when working in conjunction with job boards such as Indeed who actively prefer job postings with a published salary.

Studies have shown that candidates are more likely to apply for roles with advertised salary ranges, in fact not advertising the salary can discourage the candidate market to nearly half or as our LinkedIn poll shows, therefore it is within the interest of the employers to do so.

Finding a balance between transparency and strategic recruitment approaches is key for both job seekers and employers. In the hunt for the perfect match between candidates and roles, it is important to understand the influence disclosing salary can play in your recruitment strategy.

If you are an employer who would like advice regarding advertising salaries, please feel free to contact us here.

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