What you paid last year is probably not going to be what it will cost you today or tomorrow. There is a big war for qualified talent going on and to get what you want, you will pay more. We often get calls from Human Resources or Market Managers wanting to hire a new sales manager. When we probe what the potential income is, we often find it drastically lower than the going compensation for similar jobs in similar size markets.
While a company wants to bring in someone for as little as possible, it is important to know the real costs of hiring a manager. At Media Staffing Network, we work with companies in all size of markets from very small to the largest. For 25 years we have worked with clients and tracked compensation plans. In most cases when we give the company competitive comp ranges, they feel they can find someone for less. We make it a practice to not let prospective candidates know the hiring company’s salary range. Instead, we inquire about their current income so we can let the client know, giving them the option to continue in the conversation or not. Often a candidate will not pursue if the compensation is not higher than where they are, often an employer will pass on someone earning more. Eventually the company realizes the competitive costs and changes the compensation to get the right person.
Our advice? Talk to others in similar size markets who have hired a similar position in the past few months. If someone hired a new manager a year ago, it is a different game today. Quality managers, who are willing to relocate are hard to come by and can be more expensive than what you originally budgeted. Call respected managers in similar size communities and ask what they are earning and what it would take to get them to make a move. Or call us. We are always happy to share compensation ranges to help you budget.