What Does Based on Experience Salaries Mean?
Sometimes the job ad says BOE
When you are cruising the Insurance Career job boards have you noticed that job descriptions have changed? We tell you all about a bright new shiny job stuff to get your attention. But when you get down to the really important stuff – like location, hours of work, salary – you do a double take.
You see that salary range or annual salary amount is either not listed at all or instead of an amount per annum – you see “Open” or “BOE” (based on experience). What the heck is that all about?
What’s your immediate response when you read that? Feel annoyed, distrustful, and wary or like a Cheshire cat? (You remember Alice don’t you and the grinning cat in the tree?)
Why doesn’t the employer or recruiter just say what the salary is? Because we don’t know….
What does that mean?
No, we don’t know. Well we do – sort of. Sort of because we know what the last person in that position was earning. But – and it’s a “Big But” – we don’t want to commit and rule out that exceptional candidate who might be earning much more than the listed salary. And we want to include the more junior candidate to apply who doesn’t fit into the past work requirements range, but feels ready and able to quickly grasp the challenges of the job.
We are also doing is a mini-market survey. Much has changed in how much a position is worth to an employer and how difficult it is to find that great fit they are looking for. Some employers have increased their salary ranges to get or keep their valued staff, and some haven’t. They don’t know or suspect or care they are lagging behind the salary median.
Reading “Open” or “BOE” in the salary range – is actually a question. The question is “What is it going to cost us?” “What is the Market paying out there?”
I find employers want to be fair and equitable in their salaries. That’s a good thing.
This is great stuff for the Job Seeker. You will be able to earn a competitive salary in your new position – but you’ll need to do some research. Ask a Recruiter (read – me) what the salary range is for what you do. If I don’t know – I’ll do a quick client/candidate survey and find out. Be both realistic and ambitious in your salary expectations.
Also, ask your co-workers, your friends, your LinkedIn contacts or any social Insurance Industry contacts you might have. Phrase the question as non-intrusive by asking something like “what do you think a such and such position pays out there now?
Bottom line – don’t be put off by the word “open” or “Based on Experience Salaries. Those are magic words in today’s job ads for the Job Seeker! Think “Opportunity”, think More and Good Luck!!
Coastline –Finding Jobs for Insurance People and People for Insurance Jobs