Pay transparency | 1 in 4 won't apply for a job without knowing the salary

1 in 4 won't apply for a job without knowing the salary

More than a quarter of professionals would not apply for a role without first knowing the salary, a new survey has revealed.

Data derived from recruiting experts, Hays latest Quarterly Insights Survey, which received over 9,000 respondents, revealed that over a quarter (26%) of employees would not consider applying for a role that didn’t have a salary listed within the job advert.

Moreover, 44% of respondents that had had an interview in the last six months disclosed that they were prompted to move jobs as they desired a higher salary.

Whilst 47% of employers said they always include salary information in their job adverts, 36% said it would depend on the role, whilst 17% said they never would include salary information. Ultimately, this may result in companies potentially missing out on a significant percentage of prospective talent.

The public sector is leading the way on salary transparency, with 73% always including the salary within the job advert, whereas only 28% of private sector employers will always include salary information.

Head of Permanent Appointments (UK&I), Gaelle Blake commented: “There’s arguably never been a more challenging time for employers in attracting and retaining talent as the number of job vacancies in the UK continues to climb. What this means is that employers can’t afford to alienate potential talent.

Considering over a quarter of professionals wouldn’t consider applying for a role without knowing salary expectations, employers need to think carefully if they aren’t making this information available.

At any seniority level, professionals are interested and, fundamentally, need to know the wage for the role that is on offer. Including this information within the job description helps employees decipher whether the role is what they are after – both in a pragmatic sense (i.e., will it cover the bills) and whether it’s an appropriate seniority level. Ultimately, transparency is key.”

Image - Bank of England

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