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Tip #26: “Avoid Admitting What You Make”
It is not a potential employer’s business what you are making now or what you have made previously. What matters is whether or not you are seeking an appropriate amount for your skillset, experience, and the current market conditions. Leave that part of a job application blank. If asked for previous salary info, respond with what you are seeking as if you didn’t hear the question accurately. Most will take the hint. Few will persist. If they do, change the subject.
Tip #27: “Frequent Job Changes Can Benefit You”
One of the best ways to quickly raise your salary is changing jobs often, such as every 6-24 months. The reason is that companies sometimes give no annual raise at all or the standard 3-5%. When you change jobs, you can ask for quite a bit more, sometimes a lot more, and get it, especially if you have picked up skills or certifications. And not told them what you are making now.
Tip #28: “Frequent Job Changes Can Cost You”
If you’re a job hopper, this can cost you. In the U.S., the biggest problem is retirement accounts. Many companies won’t let you start contributing to a 401k for 3-12 months. If they do employer matching, you won’t keep any of it if you leave too soon (typically under a year), and there’s often a rising scale where you keep another 20% for each year you remain employed by them. Outside the U.S., bonuses may not be paid unless you remain with the employer for a set number of months after you earned it. Leave and you are literally leaving money behind.
Tip #29: “Don’t Discuss Salary with Coworkers”
Once you give out personal information, like your salary, it’s no longer yours to safeguard. Even if you trust that person, they can tell someone else. You may not care who knows, but others might resent how much you make, or scorn how little. You may also learn that someone else makes far more than you despite the same skills or experience, leading to resentment.
Tip #30: “Learn Market Value from Jobs You Don’t Want”
Depending on your field, you might often be approached for jobs you don’t want. This is the time to ask for what amounts to a [significant?] raise without admitting it’s more than you currently make. Depending on the reaction, and if done repeatedly with multiple employers, this will tell you whether you are on the high or low end (or middle) of what you could be making. If they balk at a high number, now you sense a limit, but you didn’t want the job anyway, so it makes no difference if they pass on you. They won’t, however; they will ask if you have flexibility.