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Internal recruiter salaries are up 37% since Q1 2021.
Yes, you heard me. That’s not a typo.
And software engineer salaries are up 12%.
The numbers: average starting salaries for recruiters and software engineers, all levels, based on Hirewell 2021 placements👇
Recruiters
Q1 = $86k
Q2 = $102k
Q3 = 118k
Engineers
Q1 = 113k
Q2 = 119k
Q3 = 127k
👉My takeaway: it’s more obvious now than ever that historic salary data is irrelevant. All it took was some hyperinflation to drive that point home.
Over the years, I’ve heard the same things:
“Well salary.com says that…”
“We paid for some salary data that says…”
“We re-did our salary bands last year and…”
...yet candidates turn you down? If you’re not adjusting 🤷
The salary market is a free market, like stocks or anything else. “Fair value” adjusts in real time.
It’s just less visible and transparent. You can’t get automated quotes telling you what will get a candidates to say yes.
So if you make offers in a vacuum and get turned down, what can you actually do about it?
👉Buy enough good will in the interview process that candidate wants to negotiate with you.
Become the top choice in their mind. Gain the trust needed so they want to be transparent with you and make it work.
Then (duh) adjust your offers accordingly. Based on what’s happening in front of you, not what some year old salary data says.
A turn-down itself is not indicative of an issue.
A turn-down mixed with a radio-silent ghosting...that’s an issue.
In the latter scenario, you never had a chance.
More on what’s happening right now by the numbers in Hirewell Data Insights Q4 2021 with Matt Massucci, here.
You can follow me on LinkedIn here. Join the discussion on this LinkedIn post (or give it a 👍) here.