I'm getting offers for interviews but dreading the salary question. My last salary was £38k in 2020. Do I adjust for inflation? Ask for the same? Ask for less because I've been out? I really don't want to undersell myself.
Do NOT ask for less. You have years of experience, and the cost of living has gone up significantly since 2020. Use sites like Glassdoor, LinkedIn Salary, and Reed to benchmark the current market rate for the role — and ask for that, not what you earned 4 years ago.
Inflation alone means £38k in 2020 is roughly equivalent to £47k in 2024. You should be asking for at least market rate. The gender pay gap in salary negotiation is largely driven by women undervaluing themselves on return.
If you're uncomfortable stating a number, try asking them first: 'Can you share the salary range budgeted for this role?' Most employers will tell you. Then you can confirm it works for you rather than potentially leaving money on the table.
Also remember benefits — pension contributions, annual leave, flexibility itself has a financial value. Factor all of it in before comparing offers.