One of the most Frequently asked question, is something that most candidates get caught off guard . They should be well prepared and be realistic in their demands. Now lets dive deep into this:
What are your salary expectations?
Now you’re giving an interview for a company and they ask you this question in the middle of it and you go blank at that moment!
But how can I tell you what salary I’m expecting?
Your mind rushes to think about ways to deflect the question to avoid having to answer until you are ready. But trust me, you should know that this question is the major deal breaker between you and your interviewer.
So, in the video, we are going to understand what the interviewer wants to know!
The way you answer this question decides if you’re getting the desired salary or not get an offer at all.
But before that, let’s discuss points which are a big no-no and which sure must be avoided in all cases :
1. An exact amount – It’s not suggestible to say a fixed figure while discussing your paycheck as it will not leave much room for further salary negotiation from both ends and you may come about as rude or too direct.
2. Being unprepared – Having no idea what to say when asked for a salary range may leave a negative impact on the interviewer as it can cost you a job offer if answered the wrong way or you might even end up working for a less-than-desirable salary.
3. Too high of a salary – It’s quite risky to state a very high range of payscale while mentioning your salary expectations for a job. Your salary range should fall in alignment with both the industry standards and the level of worth and value that you’re capable of adding to the company.
Some hiring managers may ask you your preferred salary early on in the hiring process before you fully understand all of the details of the job and whether it’s a position you’re truly interested in.
While you’ll have to eventually talk about your salary expectations, a good answer for deflecting this question is as follows: Before I provide an answer, I’d like to get more acquainted with the position and the company so I can better provide a more accurate salary expectation.
But what does the interviewer wants to know from the candidate and why do they ask this question even before it’s required :
1. They already have a fixed budget and wants to make sure if the candidate is ready to willingly moves ahead in the process without wasting their time and resources.
2. They want to gauge on the candidate’s worth and calibre and makes sure if the interviewee is aware of their own potential and that they don’t sell themselves short.
3. Some employers intentionally place a bigger premium on certain positions despite a general market value in the name of bargain hunting.
This means that the salary they expect to pay for a certain position may be lower or higher than the going rate.
Apart from these impromptu replies, it’s always better to respond specifically.
And in order to do that one should –
1. Research the salary for the position well in advance before sitting for the interview.
2. Factor in any expenses – Analyse and understand if there is supposed to be any overhead expenditure apart from your service to the company. Also, one must be able to calculate the living costs, daily commute to office, food, lodging & similar expenses that should be covered well in your expected salary amount.
3. Choose a salary range- This is always advisable because it provides for flexibility both in being considered for the job and also while negotiating the salary.
4. Be open to other compensation options –
5. Avert the question –
What you should say instead :
Say that you’re flexible.
You can try to skirt the question with a broad answer, such as, “My salary expectations are in line with my experience and qualifications.” Or, “If this is the right job for me, I’m sure we can come to an agreement on salary.” This will show that you’re willing to negotiate.
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