Wednesday, May 8, 2013

When someone ask in an interview what are your salary expectations, How should you answer?



It depends on who "someone" is. If you are speaking with a recruiter, you need to be forthright about your salary requirements, keeping in mind the whole benefit package, not just a dollar figure. If you are talking to the hiring manager or decision-maker, you have several options, but the best is to return the question with "Can you tell me what range you have budgeted for the position?"

You first need to answer a set of questions for yourself:

* What is the salary/comp package I think (I know) the company is offering for this position.

* What is a fair salary/comp package based on today’s market and how long I have been out of work?

1. At what figure will I definitely reject this job?

* What is the salary/total comp package I would like them to offer me?

* At what figure will I consider this job but not accept it on the spot?

1. At what figure will I accept this job on the spot no questions asked?

Then when speaking to a recruiter ask them to answer question 1 first based on their insider knowledge and then tell them your answers to questions 3 – 6 and find out about the total comp package at this company.

Now when asked about salary by the company the answer varies depending on how far along in the interview/hire process the question is asked. What you need to remember is this is a negotiation at all times so nothing is set in stone on either side until the deal is done.

This is why you need to know what’s in your mind first and play your cards close to the vest until an actual offer is made; as I always tell my candidates “You can’t accept or reject an offer that’s never made. Your job is to get the offer and then negotiate the terms before you accept it.”

When asked in the initial interview this question is generally a feeling out process, if asked during the final interview it is more serious. This is why you must know the interview and hire process for the company, preferably before or during the first face-to-face interview.


It pays to know the range the company is looking to pay as well as the general range of the position in your location.

Whenever possible I suggest answering the question with a question of your own prefaced with your desire for the position.

Example:

I’m very excited about working for XCVV & Co. and see this as a good match for me and the company, that is why I did my homework to answer this question I knew you’d ask before coming for an interview. However I do not know your total comp package so I could not factor that in and that will have a bearing on my answer and how flexible I can be.

What I found is the salary for this position for someone with my experience and skills is between $70k-$90k, which I believe is fair; can I assume this position falls into that range as well?


Another great resource for salary information is www.salary.com. You input the title of the role you are interviewing for and the zip code of the role; it gives you 5-15 job descriptions. You then read til you find the one that BEST matches the role you are interviewing for, click the green button at the top and it will give you the bell curve for salaries for that type of role in that zip code. You can then decide where in that range you REALISTICALLY fall based on your experience, you can then use that salary info for that question to cite a range. While a company MAY be able to consider your past range as additional information when it comes to an actual offer, the reality is that the range for that role in that company is based on the value of that role to the company, not what you were paid previously. You will need to know a salary range before your first conversation with the company, most recruiters will ask this and they do need a number. You may also be asked this as part of your online application; if you cite a # too high above the range for that role, you won't be considered.

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