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Is it worth applying for a role if my salary expectations are above their budget?

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Companies will very often have a set budget when hiring for a role in uncertain economic times. However, a very technical and in-demand skillset can be hard to find. This could mean there is some flexibility with the budget, particularly for a business-critical role. Here are 5 things to consider if you are debating whether to apply for a role when your salary expectations are above budget:

  • If using a recruiter, ask them to check with their client if there is any flexibility on the salary and what the potential bonus package would be. The latter could play a big part if it is very generous.

  • If there a good amount of interest in the role and your salary budget isn’t drastically above budget, apply for it and go to the interview. After speaking with the company, your interest levels may increase resulting in the salary becoming less of a priority. Conversely, the company may be particularly keen on your profile after the meeting and may be able to bump up the salary if they are very interested in securing your services.

  • Delay applying for a couple of weeks. This is because if a role is still vacant after several months, the firm may be more flexible on salary. The firm may also realise the budget isn’t in line with current market expectations if there is a lack of application from strong and relevant candidates.

  • Scrutinise your own salary expectations and be realistic. Remember- there is no such as an ideal job that will tick all the boxes. If all aspects of the job are in line with your own job criteria other than the salary, it is worth going forward for the role because if you are enjoying all aspects of the job, this should lead to better productivity and potential promotions/additional perks.

  • Speak with either a specialist sector recruiter or friends in the industry about the budget for these types of roles at peer companies. This should give you a better understanding of the space and whether it is worth holding out for another company offering a better remuneration package.