What should I pay this person?
Every new hire you make and every placement we broker requires that we answer this question. Here is a simple checklist method of determining a proper wage.
Step One: Set up a salary range for the job you are filling. I recommend that you set a salary for the job and then use a 20% variance for the minimum of your range and a 20% variance for the maximum.
To help you settle on a Median Salary, I recommend www.bls.gov or www.salary.com as a reference.
Referencing the median salary as a starting point, you then either increase or decrease the salary based on the following considerations:
– What do you pay other employees at the same job level? – What do you pay this employee’s supervisor? – What do you pay this employee’s subordinate? – What salary has the employee been earning? – What is the employee’s educational level? – What is their level of experience? – What did you pay the last person you had in this job? – What is the candidate’s aptitude for career growth?
If you find yourself interested in a candidate during the interview process, ask them this question: What do you think a person should expect as an average salary for someone with your level of experience? This will tell you if you’re both on the same page.
– Art Aguilar, Principal of San Luis Personnel Services