Knowing how to put salary expectations in a cover letter helps you navigate this delicate topic during the hiring process. You want to give an optimal number that ensures you are properly compensated for your work without putting the employer off and lowering your chances of getting hired.
In this article, we’ll explore when and how to include salary expectations in a cover letter. We’re also going to show you how to decide on your desired salary and, finally, give you some examples to use for inspiration.
Let’s jump right in!
Key Takeaways
You should only put salary expectations in your cover letter if the employer asks for it.
Always give employers a salary range and highlight your flexibility and eagerness to negotiate.
To decide on your desired salary, you should research the market and consider your skills, experiences, location, and job benefits.
Tie your salary expectations to the value you can provide to the employer to strengthen your offer.
Should You Add Salary Expectations to Your Cover Letter?
In general, you should only add salary expectations to your cover letter when instructed to do so. That’s because you always want the employer to initiate the discussion around salary. Your focus should be on demonstrating your skills and qualifications, as well as your enthusiasm for the job.
Mentioning salary expectations too soon and without cause can negatively impact your chances, as it shifts focus from your competence and suitability for the role. It can also result in your application being discarded for mentioning a range that is too high without having the chance to prove your worth.
However, there are instances when employers want to know your salary expectations in advance. They can provide these instructions in the job posting, job description, or application document.
In these situations, you need to know how to put salary expectations in a cover letter. Failing to do so indicates that you haven’t read the instructions properly or aren’t responsive to the employer’s needs. This can significantly reduce your chances of getting to the later stages in the hiring process or get your application discarded outright.
Ultimately, if you aren’t instructed to provide salary expectations or aren’t sure whether you should do it, you shouldn’t. You should only mention salary in your cover letter when clearly instructed to do so.
How to Decide on Your Desired Salary
Deciding on your desired salary can be tricky, but it’s necessary to ensure you get fair compensation. If your initial expectation is too high, the employer might dismiss your offer instantly, not even leaving room for you to negotiate your salary.
On the flip side, if your request is too low, you might end up getting far less than what you’re worth. That’s why you need to strike a balance and leave the employer with some wiggle room to ensure that you can discuss the salary further and reach a mutually beneficial agreement.
One of the first things you should do when deciding on your desired salary is research the market. Websites like Payscale, Glassdoor, and even the U.S. Bureau of Labor Statistics can give you an overview of what you can expect to make in your profession. You can also look at offers in job ads or ask people in your professional network for their insight.
After researching the market and getting a baseline of what you can expect in terms of salary, you should factor in your:
Important Factors
Skills
Experience
Education
If you’re an entry-level professional, you should probably aim for a lower end of the salary range, while seasoned veterans with years of experience can expect more.
Another aspect to consider is location. The cost of living can vary significantly between states or even cities within states. As a result, the same job in one city can pay much more or less in another.
Finally, you should take a look at other benefits. Some jobs might offer multiple benefits, like more paid time off, comprehensive health insurance, flexible hours, remote work, childcare, employee discounts, professional development opportunities, etc. If the employer offers many valuable benefits, you might be satisfied with a lower starting salary.
How to Add Salary Expectations to Your Cover Letter
Now that you know when to mention compensation and how to decide on it, let’s see how to put salary expectations in a cover letter.
#1. Add a Salary Range
You should give an employer a salary range in your cover letter to leave room for compromise. Instead of giving a specific number, you should determine a realistic range by taking into account previously mentioned factors like market conditions, your experience, and location.
Here’s an example of how to do this:
Good Example
“Based on the current market rates in Los Angeles and my skills and experience, I am seeking a starting salary in the range of $65,000 to $75,000.”
By giving an accurate range, you show employers that you’re informed about the job landscape and your profession while allowing for further discussion.
#2. Emphasize Your Flexibility and Openness
While it’s natural to aim for a higher salary, you want to emphasize your flexibility and openness in your cover letter. Employers value candidates who are responsive and adaptable. Plus, this way, you show that you’re more interested in the job at their company than the paycheck.
Highlighting flexibility allows you to enter negotiations and possibly get a favorable outcome. On the other hand, if you’re rigid in your approach, employers might dismiss your request right off the bat if it doesn’t fit into their budget for the role.
Here’s one way to show that you’re flexible about the salary:
Good Example
“However, I am open to discussing my compensation further, as I am confident we can come to a mutually favorable agreement.”
#3. Associate Expectations to Value
When stating your salary expectations, you should associate them with the value you can provide to the company you’re looking to join. For example, you can mention how much experience you have in the field, a couple of your most impressive and sought-after skills for a job application, or exceptional accomplishments that highlight your expertise.
Here’s an example of salary requirements being associated with the candidate’s experience:
Good Example
“With my background in project management and more than 10 years of professional experience, I believe a salary within the $75,000 to $85,000 range is appropriate.”
By highlighting the value you bring, you justify your expectations, making them more concrete.
2 Examples of Including Salary Expectations in a Cover Letter
Let’s learn how to put salary expectations in a cover letter by examining two complete examples.
Sample 1
Here’s a web developer entry-level cover letter example with salary requirements:
Sample 2
Let’s see how to put salary expectations in a cover letter in the example of an experienced architect looking for a new job:
Final Thoughts
Now you know when and how to mention salary expectations in a cover letter. Discussing compensation can be tricky, especially if you’re the one who needs to initiate the conversation. You want to strike a balance between being determined and flexible.
Remember that the first step toward learning how to put salary expectations in a cover letter is deciding how much to ask for. Once you have in-depth knowledge of the market and are confident in your skills and experience, you’ll be able to make an informed offer.
After that, you might want to learn about a few salary negotiation tips to maximize your chances of getting the compensation you deserve. Best of luck!
