Nearly one fifth of employees exaggerate their current salaries to prospective new employers, according to new research published by the jobs and careers community at Glassdoor.
The results also found that 8% also amplify their salaries to friends, partners (7%) and colleagues (6%).
The likelihood of exaggerating wages increases to a staggering 24% among those aged between 16 and 24 years old.
Fictional pay rises
Of the 18% of employees that would exaggerate their salary to future employers, the average mark-up is by 18%. Based on the median salary in Britain which currently stands at £22,044, this inflation turns into an increase of £3,968.
The most recent figures also show that that average salary increase for British employees was just 1.7%.
Glassdoor also found that 32% of employees would also ask for a pay rise if they found out a new recruit was earning more than them.
However, 47% of employees said they would be honest and tell new employers their real salary. This figure increases to 52% for those aged between 45 and 54 years old.
Glassdoor found the most honest part of the UK was the North where 53% of employees would be honest regarding their salary.
Negotiating salary during recruitment
Glassdoor Career and Workplace Expert, Jon Ingham provided top tips for new employees negotiating salaries during the recruitment process:
- Employers expect you to negotiate salary, so there is no need to be afraid.
- Do your research before pitching the salary you would like.
- Be realistic about where you are in your career and what you can achieve. You can’t expect a huge salary if you are only a few years into your profession.
- Ensure you express interest in both the role and the company before you begin negotiating money.
- If salary is extremely important, ensure you have a “walk away” figure in your mind.
- Practise your negotiation skills before going into the interview.
- If the employer is unwilling to give you the salary you would like, ask them to increase other benefits.
Are you a recent graduate? Are you looking for the perfect salary?