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gjlipman
Posts: 1102
Joined: May 20th, 2002, 9:13 pm

Should I tell the truth about current salary?

March 23rd, 2009, 9:36 pm

I think it is perfectly reasonable to say "my current salary is x, but I get these other benefits as part of my package". That way they can take it into account, but won't feel lied to if they find out.
 
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DominicConnor
Posts: 11684
Joined: July 14th, 2002, 3:00 am

Should I tell the truth about current salary?

March 23rd, 2009, 9:57 pm

Tigerbill raises something I've mentioned elsewhere, normally 10% simply does not matter at all, but...Currently at entry level "benefits" are about 10% of total comp, but typically go down as a % of your pay as you progress.Some senior people in finance take personal pride in the low % of their package that is not a direct function of the money they've made for the business, some simply get a straight cut of the profit of their business unit.That is going to change. Benefits will increase as a % of pay due to both higher taxes and political sensitivity.An issue is going to be that currently, most banks in a given country offer roughly similar non-money benefits, but different firms will react to the new order in different ways.Some will stick to simple cash + bonus, but more commonly shares of several different types will be given, as will some form of bond, plus wildly varying pension contributions.Thus when going for jobs it will be even harder to make exact comparisons.
 
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katastrofa
Posts: 9579
Joined: August 16th, 2007, 5:36 am
Location: Alpha Centauri

Should I tell the truth about current salary?

March 24th, 2009, 6:46 am

It is interesting that in the IT world, people are advised not to disclose their past earnings at all to the companies they apply to for jobs, while here in finance this is a sine qua non condition.
 
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quantspot
Posts: 23
Joined: February 4th, 2009, 2:48 am

Should I tell the truth about current salary?

March 24th, 2009, 8:15 am

QuoteOriginally posted by: gjlipmanI think it is perfectly reasonable to say "my current salary is x, but I get these other benefits as part of my package". That way they can take it into account, but won't feel lied to if they find out.when they take it into account, they always ask for provement
 
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quantmeh
Posts: 5974
Joined: April 6th, 2007, 1:39 pm

Should I tell the truth about current salary?

March 24th, 2009, 6:32 pm

QuoteOriginally posted by: katastrofaIt is interesting that in the IT world, people are advised not to disclose their past earnings at all to the companies they apply to for jobs, while here in finance this is a sine qua non condition.in IT recruiters always ask about salary, but don't insist if you tell them it's confidential. in IT bonus doesn't matter that much or at all.
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