SALARY REQUIREMENTS COVER LETTERS

Simply stated, a salary requirement is how much payment a person would require to accept for a certain position. You can base this on many factors like:

  • The job industry
  • Your salary history
  • Any past work experiences
  • The cost of living in your area

In some cases, the employer may request you to provide him with a salary history, rather than or along with the salary requirement letter. Salary history speaks for itself, it’s a document that includes your earnings in the past from other companies and may include information such as:

  • the names of the companies you have worked for
  • your position or title in the workplace
  • how long you’ve held the position
  • salary benefits package

If an employer asks you for a cover letter with salary requirements, don’t take the request against him. This is because employers need your salary information for several reasons. First and foremost, if your price range is too high, they may not even consider you for the position.

The employer may also think that you may not be happy working for a lower salary. On the other hand, if your salary is lower than what the company will pay, they may offer you an even lower salary than they would another prospective applicant.

Description

Applicants need not provide a salary requirements cover letter or any information which pertains to money or desired wages for that matter if there’s no formal request made by the employer. Doing so could knock you out of contention for the position even before you reach the initial interview. However, if the position advertised will specifically require you to provide your salary expectations, then, by all means, do so without any hesitation.

This is a simple way for employers to gauge you on how well you follow instructions. For employers, if you cannot follow simple rules, what more when they choose to hire you? Here are the most common reasons why potential employers will need your salary requirements:

  • With the salary requirement letter, employers can readily get an idea on how much compensation you would want and how it will measure to the position advertised. It can also save time, resources, and efforts for the potential employer as they can readily disqualify candidates who expect salary requirements which are too high.
  • Employers can easily deduce that based on your salary requirements, you may either be over or under-qualified for the job.
  • A cover letter with salary requirements can also be an effective tool in determining the applicant’s self-worth. This means that if you expect too low a salary, the recruiter may deduce that you don’t value yourself too much and that you might not be able to cope with the demands of the position.
  • On the other hand, this low expectation may be of advantage to an applicant, especially in small companies where saving resources is important. In such cases, they will hire applicants who don’t require high salaries.
  • Then there are those applicants who have very high expectations. This means that they are either overqualified for the job or the hiring company has overestimated the advertised position’s scope.

With all these in mind, a practical suggestion when making the document is to give a salary range that’s balanced and reasonable.

Our passion to help people and businesses succeed inspired us to come up with these high quality customizable salary requirements cover letters.

 

Downloadable Templates:

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