SALARIES – What can you expect to be paid and/or what are you worth?
When it comes to the aspect of salary it is always going to be very individual, industry specific and company-related – let us explain:
- Some people need more money than others because their individual circumstances differ (people living with parents need less than people living on their own or a married person might require a smaller salary than a single person for the reason that their spouse might be on a very good salary);
- Industries pay differently for e.g. a Financial Manager in the Banking sector versus a Financial Manager in the Media sector;
- Size of a company is always going to impact on an offer e.g. a Graduate in Finance will most likely earn a higher salary at an Asset Management Company than what the same Graduate working for a small Furniture Business will earn.
What you think you are worth, what your expenses are and/or what your level of debt is – is of no concern to the employer. Each position is adverted at a specific salary, for a particular reason and you either want it or you don’t! Thinking for one second that a company will negotiate on an advertised position just because you believe you deserve more is ludicrous.
ASPECTS TO REMEMBER:
- Always take a copy of your current or last pay slip to an interview. If you don’t have one, then take a copy of your bank statement or previous letter of appointment. You will probably be asked your salary requirements;
- Don’t out-price yourself AND remember that the advertised position is always in a R2000 – R3000 radius if it is advertised as “Rand Negotiable”;
- Cost to company (ctc) means that is the total gross salary – before statutory deductions;
- Gross plus perks means that it is a gross salary (before statutory deductions) but that the package will include additional benefits on-top of the mentioned figure;
- Nett means the amount you will receive after all statutory deductions, allowances etc. have been deducted. Nett means the amount that is put into your bank account monthly;
- If you‘re currently earning R6 500 you should realistically be applying for positions advertised between the R7 500 – R10 000 per month mark. That is called career progression;
- You can’t expect a future employer to give you more than double your current monthly salary to help you pay your debts or to fund an expensive car and/or lifestyle;
- Only individuals studying towards professional degrees like CA (SA) can expect to double their salaries after completing the various qualifying examinations and article internships.
