Salaries too low for jobseekers

As confidence in the job market rises, almost 40 per cent of jobseekers believe the salaries on offer are below market value.

A survey by Hays Recruitment found a further 29 per cent of candidates thought the salaries on offer were low, but employers were willing to negotiate.

The remaining 31 per cent were happy with the salaries on offer.

Senior regional director of Hays Banking, Jane McNeill, said that as more opportunities become available, candidates are adjusting their salary expectations.

“But this often prices them out of the market because employers are unlikely to increase salaries right now,” she added.

McNeill said employers usually advertised lower than market salaries as a result of internal pressures and a misunderstanding of the current market.

“In reality, there is not an abundance of quality candidates who can be secured for a salary below the level of skill sought,” McNeill said.

“Already there are cases of employers being disappointed when their preferred candidate won’t move because of a lack of incentive.”

While widespread salary increases are not yet happening and only a limited number of employers are willing to negotiate, others are attracting prospective employees through benefits, bonuses, training and career prospects.

However, McNeill believes these incentives may not be enough to secure high-quality candidates in the future.

“Employers will need to re-examine salaries in order to secure the right candidates, particularly as counter offers rise in number,” she said.