The uncomfortable question “What are your salary expectations?” during a job interview can make many job applicants feel anxious. However, most professionals will be asked about their salary expectations at some point in their careers. This typically takes place during the interview to provide the hiring manager a chance to assess whether your expectations align with what the company is prepared to offer.
It’s a loaded question. Your response to “What Are Your Salary Expectations?” could very well put you out of the running for the job. If you mention a figure too high, you will price yourself out of a job. You don’t want to suggest a figure that’s too low either, or you won’t get paid what you’re worth.
In this article, we’ll look at the reasons why employers inquire about salary expectations during interviews, how to respond, and what mistakes to avoid.
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Your salary is more than just a number; it’s a way for your employer to let you know to what extent they value the abilities you bring to the table. However, many companies have a defined budget for the various positions they’re hiring for. While most companies will stay within these parameters, some are willing to compromise if a candidate displays extraordinary talent, qualifications, or experience and asks for a salary greater than the company initially budgeted for.
There’s also the worry that the recruiter will see you in a negative light if you price yourself too high or too low. Early salary discussions, although a good sign that the interview is going well, indicate that the company does not want to waste time and effort on multiple follow-up interviews just to discover that the salary is radically off from what they are offering and what you had hoped for.
Confident applicants know their worth and what they have to offer. Hiring managers will see that you’re not afraid to ask for what you feel you deserve if you request a figure within an acceptable range that accurately reflects your skill and experience. Knowing your worth will help you during your interview because confidence is a positive quality many employers admire.
Forewarned is forearmed. Research the salary range for equivalent positions to decide on a figure that aligns with the role you’re applying for.
You can start your wage research using free tools like the Department of Labor, Payscale.com, and Salary.com to look for your job title by name, location, and years of experience. Consider other skills and qualities you may have, the size of the company, the type of industry, and the location, to obtain a good idea of the going rate for the position you’re interviewing for. This should give you a solid indication of how much money a company might be willing to pay.
Next, determine the amount you’re willing to accept, factoring in your projected costs and objectives beforehand so that you are ready to give an answer based on your actual needs. This information will determine a pay range that is suitable for you.
Negotiation is all about power and leverage, and salary negotiation is no exception. Depending on the circumstances, you will have more – or less – negotiation leverage. For instance, if you’re applying for a rare position with only a handful of highly skilled professionals like yourself capable of performing the role, you will have more leverage to ask for – and get – the salary you want. However, you might anticipate earning somewhat less than your previous income if you are currently unemployed. Waiting until you have a firm job offer might give you greater negotiating power.
There are various ways to respond to the question, depending on the type of job, your personal circumstances, and where you are in the interview process. Here are some tips on how to respond to this interview question:
Instead of a single number, you should always be sure to offer a salary range based on what others in the field are earning rather than a single fixed number when asked about your salary requirements. Providing a single figure may exclude you from the job. At the same time, an acceptable salary range will give you leeway to negotiate and reach a mutually agreeable figure.
Example answers:
In response to the question, “What are your salary expectations?” you could counter by asking what the company offers. You could say, for example, “It would be useful if you could disclose the salary range for this role.” Once you have the answer, you can adjust your response in line with the company’s budget.
Early in the hiring process, before you completely understand the job’s requirements, the benefits the company is offering, and whether the position really interests you, some hiring managers may ask you what compensation you had in mind. Although you’ll eventually have to discuss salary, you might defer answering until you are ready. Deflect the question: “If you don’t mind, I’d like to learn more about the job and the company before discussing salary.”
When asked about your income expectations in an interview, avoid the following:
Steer clear of giving the recruiter a predetermined, fixed sum. This can suggest that you’re inflexible and that there’s no room for negotiation.
You should have a clear concept of your salary expectations before the interview. If you’re unprepared, you ask for – and accept – a salary far less than what you’re worth.
Don’t ask for an unrealistic amount that is significantly higher than the industry standard. You’ll very likely price yourself out of a job.
