Job hunters' pay expectations 'unrealistic'

File photo. / NZH

Job hunters are unrealistic when it comes to salary expectations that fit with their skills and experience, a global recruiter's survey shows.

Staffing firm Robert Half International's workplace survey in August questioned more than 1600 finance, accounting, human resources, and executive-level managers from New Zealand, Australia, Singapore and Hong Kong.

New Zealand's 521 respondents were asked about the biggest challenges when recruiting and retaining skilled finance and accounting talent.

Thirty-one per cent said new candidates had high salary expectations, while 28 per cent said candidates over-claimed their abilities. That compares with 20 per cent who named a lack of candidates the biggest challenge.

"Some of the candidates we're seeing don't have realistic expectations of what they're worth in the domestic marketplace," Robert Half New Zealand general manager Megan Alexander said.

"They think about their value in isolation, without taking into account that it's an extremely competitive market out there with more applicants than before competing for mid-tier positions."

"Candidates think that because they haven't had a pay rise in two years that they're due a big increase in salary when they switch employers and that's not going to happen."

Ms Alexander gave the example of "so-called Generation Y candidate," who was earning around $58,000 and wanted $75,000 for her next position for no other reason than she thought she was due a pay rise.

"While business confidence is starting to improve, candidates need to be mindful that pay rises are not the norm and employers are still cautious and fiscally conscious," she said.

"Some candidates will be prepared to do whatever it takes to get the experience they need, even if that means interning for little or no pay."

The survey also found 49 per cent of New Zealand respondents found a minor skills shortage in finance and accounting professionals, with 23 per cent saying it was a major problem - the lowest result of the four countries surveyed.

- NZPA