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Maybe im just too cautious, but i never tell a recruiter how much i make. in the end, theyre in the business to get you as much money as they can because they get a % of your salary (you dont pay them, the company hiring you will pay them). Some recruiters for oil and gas (back in its glory days) could easily take in 30% of the cut. I dont know about wall street, but i imagine its the same if not more for some high profile jobs
Is it always like that though? I thought they ask in order to determine a salary cap if they decide to hire you
No, it's only like that when there's a search firm involved. Internal recruiters are agents of the company they work for and will base an offer on internal ranges.
They are gauging exactly how low they can present an offer to you, but still enticing you enough to accept it. Releasing it has its positives and negatives, but I normally do so they have an idea of what they will need to be beating.
I wouldn't bother telling them. I think it is better to leave it a mystery. I made an internal transition and even then they were unsure of my total pay - working holidays and such. This allowed me to lever up for more from the initial offer.
They want to fit you with the right job. If you made 40K they're not going to pass you along to a 90K job. If you made 90K they're not going to pass you along to a 40K job. Some people I know lie and some don't. In the end, 10k or 20K lies aren't really that big of a difference when it comes to your taxes (government takes out a shiiiiiit ton the more you make, so kiss most of it goodbye).
It will be illegal soon anyways.
http://money.cnn.com/2017/05/04/news/economy/salary-history-new-york-la…
You don't gain any upside in telling them so don't.
yes you do - not wasting your time if you're outside their budget range.
most post their budgeted range along with the position title if you look on LinkedIn.
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