Money | THIS salary will put candidates off taking a vacancy at your firm

It’s commonplace to find 'competitive salary' listed on graduate job descriptions; but to what extent is this approach hurting a company’s chances of finding the right person for the right role?

Defining the term is one of the first challenges facing graduates on their chosen career path. Many would assume it means the prospective salary will be equal to, or more than, the industry standard for similar jobs near the same location. Jobseekers can then form their own estimate by researching similar positions – although pinpointing an exact figure still remains difficult.

It may also suggest that the company is more open to salary negotiations, or that they wish to gauge an applicant’s interest in the role before discussing money.

Yet, the tactic may be proving a serious drawback for companies looking to maximise their ability to attract young talent. According to a national report recently published by Milkround, one of the UK’s leading graduate job websites, 43% of graduates stated that they would be far less likely to apply for a position if the salary was listed as ‘competitive’, rather than given as specific figures.