This is easily one of the most asked questions when it comes to hiring. Should you list the salary range on the job posting? Many companies choose not to. Their reasoning? They believe that listing a salary range will deter higher paid talent from applying. While we understand the concern, we urge you to seriously consider this claim. If you don’t list the salary range, and you do actually receive an application from that candidate who is currently earning more than you can afford to pay, how do you think that will pan out? In most cases, the person isn’t going to stick around once he or she learns that the pay would be less that what is currently being earned. There are, of course, other ways to entice talent, but the paycheck speaks loudly.
If you want to entice that high-paid talent, and you think that you have other advantages to offer, which would make up for the loss of pay, then you can certainly highlight that in the job posting. Perhaps a person would be willing to take a pay cut, if it meant a much shorter commute, more vacation time, the opportunity to work remotely, or other such perks. But, if that person is going to seriously consider these advantages, he or she will do so, even if the pay rate is included, and that person won’t feel duped when that information is revealed later.
There are other risks that you assume when posting without the salary range. The trouble begins with the fact that some employers have posting openings simply to get a feel for the talent that is available, without having an official opening in the organization. People don’t want to bother employing for something that doesn’t really exist, and the lack of salary information may indicate that that is the case. In other instances, the concern is that posting a salary range may upset current employees, who aren’t making as much, and a new employee doesn’t want to find himself or herself in the same position.
It’s much better to be clear and concise about your intent. This is to ensure that you get applications only from those willing to accept the salary offered.