Your Market Value
It is flattering to be approached about a role either directly by a market competitor or by a recruitment firm. It gives you the opportunity to review a job opening which is not widely available in the marketplace.
If you decide to actively participate in a recruitment process it is essential that you understand your market value. Salaries are constantly changing. They can fluctuate substantially due to market conditions and availability of supply (of specific skills and experience). It is also worth keeping in mind that a direct approach about a role doesn't automatically translate into a substantial remuneration increase.
As a result, it is important to be as objective as possible when assessing your market value and to keep up-to-date with current remuneration trends.
Recruitment firms can be an excellent source of current market data. They track employment trends and shifts in market demands and work across a broad range of organisations and functional business lines. They understand what skills are in highest demand. Coupled with their insight into your professional track record, skills and experience, they can use this knowledge to provide you with an accurate market value.