What is your Expected Salary?
You’ve been job hunting for a while, and you finally hear back about a job you really want. The recruiter reaches out and asks if you’re free to chat for a few minutes so they can ask you a few questions. “Sure!” Everything seems pretty fine. You talk about your background and how you found this job listing. Then the recruiter asks you a question that stops you in your tracks: “So what is your salary Expectations? How do you plan to achieve this?
The Reason behind this.
Recruiters want to know your current salary. The expected salary before you even start the job interviews. interview question about your salary expectations can stop you short. Employers ask this question to get a sense of whether they can afford you. They may bring up the topic of pay at some point in the interview process. Sometimes they ask this question during an initial phone screening, Or they may hold off on discussing salary until you’ve met face-to-face. They may also ask for your salary expectations directly. Request you to enter a number in an application form, or to respond to pre-determined salary range. Always prepare for an answer ahead of time. Do more research on average compensation for both the role and your experience level. This is to enable you to have productive and informative talks about pay with your potential employers.
Why employers ask about salary expectations.
When an employer asks about your salary expectations, it’s usually for three reasons:
1. They have a budget. The interviewer wants to make sure your compensation expectations align with the amount they’ve calculated for the job. If they find most candidates are asking for a great deal more than intended. It might mean a larger budget is needed for the position.
2. They want to gauge how well you know your worth. A good candidate knows how much their skillset is worth in the market and can share it with confidence. To determine an appropriate market value. Factor in your level. The years of experience and career achievements.
3. They want to determine whether you’re at the appropriate professional level. An applicant who asks for a higher amount than other candidates may be too senior for the role. However, answering with a low salary expectation could indicate you’re at a lower experience level.
How to research job salaries.
It’s crucial to not only provide a number you feel comfortable with but an appropriate compensation for the job based on real data. Luckily, it’s easier than ever to find this information. By using Indeed Salaries, you can find the average salary for the position you’ve applied for. These salary estimates come from data submitted anonymously to Indeed by users. Its collected from past and present job advertisements.
For a typical salary range. Remember to consider where the role is located and the cost-of-living in that area. For example, a job located in Los Angeles will likely pay a higher salary than the one in rural Texas. The salary for the job at various companies nearby and the average salaries in other cities near you. Your salary expectations should also factor in your seniority, experience level. The educational background or unique skills other applicants in the field may not have.
How to answer salary expectations questions (with examples).
Here are some suggestions, with example responses:
1. Provide a Range
The employer may opt for the lower end of your range. So make sure your target number is as close to the bottom number as possible.
Example: “I am seeking a position that pays between $75,000 and $80,000 annually.”
2. Include Negotiation Options
In addition to your salary, there may be other benefits, perks or forms of compensation that are just as valuable. Example: “I am seeking a position that pays between $75,000 and $80,000 annually. Thus am open to negotiate salary depending on benefits, bonuses, equity, stock options, and other opportunities.”
3. Deflect the Question
You may want to deflect the question for later in the conversation. Example: “I’d like to ask a few more questions to get a better idea of what the position entails. That way, I can provide a more genuine expectation.”
A few more things to consider when determining salary expectations.
While discussing your ideal compensation for the first time. Make the conversation go smoothly and make sure you get a fair salary. We have a few additional pointers:
In most cases, employers are going to start you off at the lower end of the amount you provide. By aiming higher, you can make sure that even if they offer the lowest number. You’ll still be making your target number. For example, if you want to make $45,000, give a range of $45,000 to $50,000.
2. Be Confident
Some employers are interested in your answer as well as your delivery to decide the salary they opt to offer. If you’re confident and self-assured. It will show you know your worth and you’re not going to accept less than you know you deserve. Also, having a well-formulated answer will ensure you’re not undercutting yourself or aiming over the market value.
- The Balance Careers: Interview Questions About Your Salary Expectations.
- Fearless Salary Negotiation: How to answer the ” What’s your current or expected salary?” question.
- Indeed: Interview Question: “What are your Salary Expectations?”
If you have any more additions to this blog, please feel free to leave your feedback through the comment box below.