Apart from educational qualifications, experience, and knowledge, the salary requirement of a candidate is one point an employer looks for. Normally, salary requirements should not be written in the cover letter. However, it is always better to include it if the employer asks to do so, and sometimes, not mentioning it might lead to the rejection of the job application, no matter how intelligent and qualified the candidate might be.
Mentioning the exact salary requirements might be simple for experienced individuals. However, many young and first-time job applicants are confronted with the dilemma as to how to put it properly in a cover letter. Here's some help.
Determining Your Salary Requirement
Of course, money is such a thing with which we would never be satisfied, and we would like to quote a very high amount. However, this is the corporate world. Therefore, think wisely and logically before quoting your salary requirement. At the outset, conduct a market research and know the current salary ranges for the position you've applied. If you have enough knowledge regarding the level of duties and responsibilities involved in it, then consider them as well. Think about the size of the organization; whether it is a small-scale firm or a multinational! Think over your qualifications and experience; whether your assets are worth your salary requirements, or are you just quoting it blindly! Remember, your application might get rejected if the employer finds your salary requirement too high or unreasonable.
Putting it on the Letter
When you have decided your salary requirement, put it in the form of a range. Mention a specific range which is neither too high for the employer nor too low for yourself. Put something which apparently looks acceptable to both the parties. State your quote properly. Do not hesitate, if you think you are eligible for the position.
Being too firm or adamant on your salary might disappoint the employer. He might be willing to recruit you, but if you stick to your point, and if he finds it unreasonable, he'll be helpless and might lose interest in your application. Therefore, to avoid such a situation, mention that the salary range is negotiable, and you are ready to discuss it in the personal interview.
State Your High Expectations From the Organization
Display your trust in the organization. I know it is a bit early to show your trust in the company, as you haven't even met your employer! But, your trust in the organization at this early stage would prove useful. Include statements that convey your high expectations from the employer, and also that the salaries offered by the organization are fair and reasonable.
Employer's name/ Organization's name
Dear (Employer's name)
With reference to your advertisement, dated (mention the advertisement date), posted in (mention source's name), I would like to apply for the post of (mention post name) in (mention organization's name).
I hold a long experience of almost (mention the years/months of experience), in (mention the duties and responsibilities you've handled in the course of your experience). I have (mention your soft skills).
Apart from a being a reputed name in the global market, I have known (mention organization name) as a good pay master, offering fair salaries to its employees. So in response to your request, my salary requirements according to the job details provided by you are, (mention the salary range). However, the salary is negotiable and I am open to a discussion with you in this regard.
If I'm given a chance to work in the organization, I would utilize my potential to the fullest and contribute superlatively to the organization's success and growth. Looking forward to your reply.
If you have a better idea over quoting your salary requirements, you can implement it in your cover letter. However, make sure that you consider everything, research properly, and only then make a statement.