Identifying Your Salary Needs

Knowing your salary needs can help you to focus your job-hunt and to get a fulfilling job that pays you enough to live comfortably. Understanding the difference between your needs and your wants will allow you to negotiate a better salary and a better job.

New ways of thinking about the salary you need:

• The salary you need may be different from the salary you want. Estimate the minimum annual salary you need to live comfortably by using the worksheet provided in the Avjobs Applicant Portal. The worksheet is also a useful tool for creating a budget and finding out the minimum you need to earn to pay for all your wants and desires.
• The salary you need is often different from the salary offered by the employer. Once you know how much you need to earn, you can negotiate more effectively with a potential employer.
• The salary you need may be different from the market value of the job that interests you. Target those jobs in the market that meet your salary needs.

Benefits of identifying your salary target:

• Knowing your salary needs helps you to find the right job, faster. It saves you from wasting precious time and effort on trying to get jobs that may not cover your financial needs. It helps you focus your efforts on jobs that pay enough to live comfortably.
• Once you know your salary needs, you can identify the level of responsibility that pays that much – and then you can find out what qualifications are needed to rise to that level. For instance, in the aviation industry, a lead mechanic earns a higher salary than a mechanic’s apprentice; practical experience and industry certification are needed to rise through the ranks.
• Armed with accurate information about your salary needs, you can carry out more effective market research. Identifying your salary needs is just as important as identifying your knowledge, skills and abilities – so you can find a job that pays you enough to do the kind of work you prefer.
• Estimating the minimum salary you are willing to accept is the first step to negotiating a higher starting salary, when you are offered a job.

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