What are the current salary trends being seen now with 8% YOY inflation and labor shortage? Wondering if anyone has good insight on the hiring side. I'm job hunting right now and wondering if employers are paying premium now to experienced hires or not. Would it turn an employer off to counter offer based on the current high inflation we've had the last year? Are employers making larger salary offers or are they being pinched and aiming low?

By almost every indication this is the most employee friendly job market in most of our lifetimes. People willing to show up and do their best are getting multiple offers and people who are excellent are choosing between even more at better comp than they could have imagined a couple years ago. It's a great time to get a job because everyone is terrified they won't be able to get or keep their talent. Good luck, and report back on what you end up with.

In Healthcare, no... 2-3 % market adjustment is what I'm seeing. Major bump comes from a new job or a major promotion.

With $6 diesel where I live I have to wonder how long this is going to last

Got an offer yesterday around 5 pm with a base pay 17% above what I was making before, a higher base salary than expected. I haven't seen the rest of the benefits package, benefits referred to another document they didn't send me, so I'm going to ask for that before finally accepting it.

I don't know if they have any wiggle room to go higher on the salary or if they gave me to top of their range up front, but I feel like it's a pretty good base salary offer.

It will be a 55% higher base salary than what I was making just 12 months ago, and my second new job in 12 months since I got laid off after only 10 months at my prior employer.

Demand for engineers seems really high right now since I have 3 more on site interviews planned, but the offer I have is from my first choice so I might cancel the other interviews.

I could still go to those interviews and see what other places offer to compare? Seems like a big time waste though since they're each a half day with multiple back to back sessions, and two require me to make an hour presentation (which I honestly have doubts about if that helps hiring teams find the most effective engineers). Proper preparation and the time in the interviews would take me about 20+ hours of my time if I went all in to get offers from each. As a personal experiment gauging the market and getting solid interview practice could be worth it, but almost feels deceitful if I've already taken the first offer and don't plan to accept the others.

We're hiring but trying to hold the line on salaries. It's a disaster. Few qualified people in the salary range and those that are qualified and in the top end have a lot of options and are looking for a lot of other intangibles.

Those that have accepted other offers immediately cancel all other interviews. I would too. Once you commit, you need to focus on the new task. After 6 months, then maybe listen if someone approaches. Even then that will burn some bridges. Up to you to decide if it is worth it.

I don't want to miff my new employer, but would it be worth mentioning the other interviews I have lined up and asking simply if they have some wiggle room on the salary or what parts of the benefits may be adjustable?

A career coach professional suggested that it is best to tell them all the details of your other interviews, the stage and the companies, to get the best offer. At the same time, if the first offer is the top of their range and really high, you could upset them and seem like you're just trying to strong arm them.

I'd assume most initial offers leave some room for negotiation?

My last job they gave me above what I asked and I had given them a range (meaning I shot too low), but in this case, I haven't yet named a number that I want, so their first offer is trying to gauge me, and Now the ball is in my court to counter offer, but I haven't seen the benefits yet.

I know coming in and negotiating too much can be held against you in the future. Actually had a co-worker that did this and recall one of the owners always held it against them because their performance didn't live up to the hype. However. I don't want to leave would could be an easy 5-10k on the table, maybe their range is another 15-20k above what they initially offered? It's a crazy market and I've heard pretty crazy stories of employers happily offering candidates far above what they anticipated.

Im in HR and this job market is pretty crazy. I see candidates with multiple offers all the time. Even salaries for HR positions have sky rocketed in the past year.

bmks270 said:

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I know coming in and negotiating too much can be held against you in the future. Actually had a co-worker that did this and recall one of the owners always held it against them because their performance didn't live up to the hype. However. I don't want to leave would could be an easy 5-10k on the table, maybe their range is another 15-20k above what they initially offered? It's a crazy market and I've heard pretty crazy stories of employers happily offering candidates far above what they anticipated.

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Did you give them a number? If you did and they met it with their offer I wouldn't ask for more unless their benefits package is out of market and you're just finding out with the offer. If not, 5-10k isn't going to make anyone blink (assuming you aren't making minimum wage)

I have not given them a number yet. They gave me an offer letter with base salary and options vesting information, but no other benefit details. I feel it's a good base salary, it is near the top of a range my friend suggested who does hiring for similar roles. It's also a little bit higher than the numbers you will find on glass door. He said to review it, and knows I was in the process of doing other interviews, so I suspect he came in near the top of their range. I have not yet given them a number and now is my time to make a counter, but I want to see the rest of the benefits first.

bmks270 said:

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Got an offer yesterday around 5 pm with a base pay 17% above what I was making before, a higher base salary than expected. I haven't seen the rest of the benefits package, benefits referred to another document they didn't send me, so I'm going to ask for that before finally accepting it.

I don't know if they have any wiggle room to go higher on the salary or if they gave me to top of their range up front, but I feel like it's a pretty good base salary offer.

It will be a 55% higher base salary than what I was making just 12 months ago, and my second new job in 12 months since I got laid off after only 10 months at my prior employer.

Demand for engineers seems really high right now since I have 3 more on site interviews planned, but the offer I have is from my first choice so I might cancel the other interviews.

I could still go to those interviews and see what other places offer to compare? Seems like a big time waste though since they're each a half day with multiple back to back sessions, and two require me to make an hour presentation (which I honestly have doubts about if that helps hiring teams find the most effective engineers). Proper preparation and the time in the interviews would take me about 20+ hours of my time if I went all in to get offers from each. As a personal experiment gauging the market and getting solid interview practice could be worth it, but almost feels deceitful if I've already taken the first offer and don't plan to accept the others.

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What discipline of engineering, what industry, and how many years of experience?

I would see what the benefits package looks like and use that to negotiate. For instance in O&G, my previous employer was a smaller player and the benefits were VERY expensive and not many paid days off, things like that. I used that info to qualify the difference between my current package and the new and ended up getting them to come up about 10k because of it.

Classic wage/price inflation spiral.

It will end at some point and employers will have the leverage again.

The economic music will stop, and when it does... you better have a seat at the table.

LOYAL AG said:

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The job market isn't going to change anytime soon so know that first off. The Boomers are retiring en masse and that's the largest generation in history and their presence had created a cap on both upward movement and compensation. This giant sucking sound we're hearing that's creating these salaries and jobs is caused by companies that are faced with the loss of their middle and upper management and big picture there aren't as many people as there was before. Simply put the talent pool isn't as deep as it was. Companies sticking to their guns on pay are going to find themselves severely lacking in numbers and constantly struggling to find and keep people. If you feel like your current employer isn't willing to "play that game" I would get out so you aren't the one turning out the lights.

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I wonder how many boomers have retired and are on a fixed monthly income and may be reconsidering things, given the current high inflationary environment. Maybe some of them will start returning, at least on a part time basis (maybe even remote).

KT 90 said:

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LOYAL AG said:

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The job market isn't going to change anytime soon so know that first off. The Boomers are retiring en masse and that's the largest generation in history and their presence had created a cap on both upward movement and compensation. This giant sucking sound we're hearing that's creating these salaries and jobs is caused by companies that are faced with the loss of their middle and upper management and big picture there aren't as many people as there was before. Simply put the talent pool isn't as deep as it was. Companies sticking to their guns on pay are going to find themselves severely lacking in numbers and constantly struggling to find and keep people. If you feel like your current employer isn't willing to "play that game" I would get out so you aren't the one turning out the lights.

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I wonder how many boomers have retired and are on a fixed monthly income and may be reconsidering things, given the current high inflationary environment. Maybe some of them will start returning, at least on a part time basis (maybe even remote).

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That's a good question I've thought about asking my parents. The youngest Boomer reaches 67 in 2031 so we're right at the midway point for that generation. I know the 20% drop in the market is hurting my dad, my mom not so much as my stepdad is going to work a few more years and she draws a pension from Geico. I doubt we see enough of them to make a real impact on wage inflation. The youngest of them are 58 and the oldest like 75. Not sure there's significant demand for the upper end of that demographic beyond Wal Mart greeter, Smiling face at CFA, etc. Definitely don't see them impact wages at the top.

bmks270 said:

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I have not given them a number yet. They gave me an offer letter with base salary and options vesting information, but no other benefit details. I feel it's a good base salary, it is near the top of a range my friend suggested who does hiring for similar roles. It's also a little bit higher than the numbers you will find on glass door. He said to review it, and knows I was in the process of doing other interviews, so I suspect he came in near the top of their range. I have not yet given them a number and now is my time to make a counter, but I want to see the rest of the benefits first.

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Doesn't hurt to ask, but I would not try to use leverage of other offers against them. I would simply state that you're a dedicated employee who won't be job searching but you would like "insert number". And then say "please let me know if this works with you". Make it seem like they're offering it to you and not you leveraging them into it. This will make a smooth/easier transition with less friction and they already know the market. If they want you they won't balk.

Benefits package turned out to be really good, a lot better than expected. I only asked for less than 3% of the base salary as a sign on bonus. He said he would see what he can do and that he would get the final letter to me tomorrow. My wife says asking for the sign on bonus was being a dick and now has me now questioning if I potentially offended them or not with that ask. To me seems rather small and reasonable amount, less than 3% of the base salary.

Because of being laid off I am going a few weeks without income, so the sign on bonus helps me recover some the savings draw down and pay check interruption. I know that's of no concern to the employer though.

Well they came back and included the full sign on bonus I asked for. I accepted the offer and notified the 3 others to cancel the interviews. To my surprise 2 of them still want me to do the final round interview so they can pitch me and still make me a competing offer (assuming I impress them in the interview of course).

I think I'm going to still decline because I feel really good about the one I already accepted, which was my leading choice, and don't think it's right to waste everyone's time. It's still really tempting though to see what the offers might look like. Maybe would have given me more negotiation room before accepting the first, but I'm satisfied, can't go back and negotiate now without really irritating people.

tell them to go ahead and send you the offers if they want you that bad. you ain't got time for a beauty pageant!

Diggity said:

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tell them to go ahead and send you the offers if they want you that bad. you ain't got time for a beauty pageant!

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It is tempting to just ask what they can do for salary range out of curiosity.