How to Determine Your Salary Range

The elusive salary range ... Every job seeker needs one, but most don't know where to find it.

Salary ranges are a critical and often confusing part of job seeking.

Salary ranges change constantly. They vary from company to company, from bullish markets to bearish days, and from person to person based on experience. They also vary dramatically among different industries and geographic regions.

But, help is out there. By following a few simple rules, you can determine a range that works for you.

Dig Deep

You'll have to do some digging to determine you salary range. First, start with online job calculators like the Salary Wizard

Next, visit the Web sites and directories of professional associations. Often they'll not only provide salaries for positions in a particular industry but also ranges based on geographic location and experience level.

Government reports can also be very useful.

Last, business and industry-specific trade magazines can offer insights too.

Once you've armed yourself with all this salary research, you're ready to start shaping your salary range.

Reach Out and Talk to Someone

Work your network to determine your salary range. Call or email people in your industry or -- better yet -- at the company at which you're interviewing.

Industry contacts can confirm and fine-tune the ranges you've devised. They can also share personal experiences negotiating salary.

Try to find contacts in your geographic region, since salary can vary widely from place to place.

Current or former employees of the company at which you're interviewing can help determine salary ranges at that particular organization. Good questions to ask include:

• What significance do salary ranges have at this company?
• Is the first offer usually at the low end of the range?
• Who gets a high offer and why?
• Is there one skill or trait that all top earners share, such as an MBA?

All of these questions can help you handle the salary negotiation process.

Do the Math

Every position and every company has a salary range. You need one too.

Now is the time to think of yourself. Consider your financial needs and your budget. Come up with salaries that cover what you absolutely need, what you would be most comfortable making and what your ideal wage would be.

Remember, too, that salary is just one part of your compensation package and your career. You may want to adjust your range based on the specifics of a position.

Perhaps a job will give you experience you've been lacking. Maybe it offers a great deal of job security. Or perhaps the employer grants regular raises that will help you quickly climb the salary ladder.

Hire Help (If You Can)

Don't be overwhelmed by the legwork required to determine your salary range. You can do it.

But, if you can afford to, you can also hire an expert. Executives in particular sometimes do.

Coaches, compensation consultants and employment attorneys can research ranges for you. And professional pay advisers can often dig even deeper for specifics on a particular company because their networks tend to be bigger than the average person's.

Experts will compare and contrast the data they've uncovered and help you analyze your own financial situation.

These paid professionals will also usually coach you in the negotiation process -- which can help you land the highest salary in the range.

Determine What You're Worth

Determining your worth is an essential first step in your job search.

Once you know the salary you can command, you can decide which jobs fall into your desired range and could be right for you.

Your salary research can also come in handy during the interview process, should the subject of salary come up. And it'll definitely be helpful if you get a job offer and want to negotiate salary.

Use this advice to figure out what your skills and experience are worth to a potential employer.

Information at Your Fingertips

Your salary expectations should be realistic.

Every position has a general salary range, based on what professionals in that job are currently earning. Research the range for your position before you start your job search.

Look online for the most accessible and up-to-date salary information. Salary Wizard lets you research salary by industry and location.

Go to the Source

Once you've researched the average salary for the job you're seeking, it's then time to go deeper.

You need to consider the job market in your industry as well as the value of unique knowledge and skills you may have.

Talk to people who work in the industry you're targeting. It's not always appropriate to discuss salary -- especially with people you don't know well -- so choose your contacts carefully. If you're working with a recruiter, he should be willing to share salary information. You can also ask advice of a mentor or close friend in the industry.

Finally, online communities and message boards are a useful and anonymous way to research salary.

Worth Is Subjective

What you're worth to a potential employer can vary. You may be more valuable to an employer if there's a shortage of people with your skills. You'll also likely be worth more in a market with a labor shortage or in a location with a small number of qualified job seekers.

Because a company will consider candidates with a range of skills and experience, they probably won't decide upon a specific salary for a position. Instead, they'll come up with a range that they're willing to pay.

You should think in terms of a salary range too. Determine the low and high salary that you're most comfortable with. And then assume that you'll probably end up somewhere in the middle.

More Than Simply Salary

So you've calculated your worth as an employee in the current market. And you've come up with a salary range that you're comfortable with. But there's one more thing to consider: Benefits.

Understand that your worth to a company is reflected in more than simply your salary. When a company decides what to pay an employee, it counts benefits as part of that compensation.

Companies include health insurance, 401(k) accounts and stock options in employee compensation. They also count perks like car allowances, vacation time and flexible schedules in a prospective employee's compensation package.

So when you're considering a job, think about the whole compensation and benefits package. And then decide if a company is truly giving you what you're worth.