When considering what salary you’ll need to do a certain job, don’t just look at dollar signs. While base pay is obviously important, there are many other factors to consider. Here are a few of them.

Cost of living. If you’re in Illinois, are you working in Chicago (pop. 2.9 million) or Beardstown (pop. < 6,000)? The cost of living will naturally be much higher in more populous areas, so this is something to take into account. If you’re pulling $30K in Beardstown, you’re doing pretty well. You might need twice that to live comfortably in Chicago (or maybe not, depending on what it takes to make you comfortable). (more…)

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It sounds like an existential query posed late at night after one too many glasses of red wine, but for a job hunter, it’s more of trick question. More and more classified ads–both in print and online–are suggesting you send your resume and your salary requirements. For someone already stressed out by the job hunt, this little exercise in “guess the right answer” is nerve-wracking.

You can usually postpone the compensation question with a sentence or two in your cover letter that suggests you’re looking for a salary in line with your experience. Once you’re on the hot seat, it’s way too easy to be thinking of a number (say “50 thousand”) and then blurt out you’ll take the job for $40,000 because you’re afraid your salary request is too much. Employers are counting on this. They have a vacancy to fill. You want a job. And if you offer to work for ten thousand dollars under the money, they’re not going to object. It’s a lot easier to ask for what you’re worth if you have the facts on the tip of your tongue. (more…)

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