So you plan to attend this interview, walk in to meet the HR or interviewer, or even have an online interview, but they ask you this question “What is your Salary expectations?” I could relate! The next thing, you start racking your brain for the best possible answer to give to land your dream job. We’ve provided you with good answers that will blow your interviewer’s mind away here.
Meanwhile, What is your salary expectations is a very critical question that places one in an uncomfortable position during an interview. Imagine, if you’re interviewing for your first job or if you’re in an early stage of your career. Chances are that you may struggle with answering such questions. However, with proper knowledge of how an interview works, you can scale through such situations and confidently sit for a job interview.
Moreover, recruiters may ask such questions at any point during the interview process because many interviewers want to know if your demands are within their budgets. Similarly, going too high or too low may impact your chances of being hired. So, it’s essential to be well prepared and understand the various ways to discuss your salary expectations for a job interview.
We have carefully curated this article to help you understand effective strategies for negotiating a salary. Hence, make sure you read to the end so you don’t miss out on any vital information.
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Why do Employers Ask About Salary Expectations?
When employers ask about salary expectations, they want to verify that what they can offer is in line with what candidates are looking for. As a result, this information allows employers to assess the financial viability of hiring you while also ensuring that the salary paid is competitive within the industry and business standards.
Furthermore, knowing your compensation expectations assists employers in assessing your comprehension of the market value for the work, displaying your familiarity with industry norms. Lastly, it aids employers in understanding your motivation and whether your expectations correspond with the general payment culture of the firm, ensuring an agreement that’s beneficial for both parties.
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How to Determine if you are Being Offered a Fair Salary?
Generally, effective negotiation is a common part of the hiring process and can contribute to a successful employment relationship. Thus, to ensure that you receive a fair offer, conduct research to assess the fairness of a salary offer. To find information about salaries, explore specialized salary websites like Glassdoor, indeed to see what other employees with similar education, and experience in the same location and industry make. This will provide a benchmark for what is generally considered reasonable in your field.
Furthermore, evaluate your qualifications and experience by considering your education, abilities, and any unique expertise you bring to the table. Likewise, consider how these factors align with the responsibilities outlined in the job offer. If your qualifications exceed the requirements and are well-suited to the position, you may have grounds to negotiate for a higher salary.
In addition, communicate openly with the company by expressing your enthusiasm for the position while carefully discussing your salary expectations. However, be prepared to justify your preferred value based on market research and your personal qualifications.
What is Your Salary Expectations? | 10 Best Interview Answers
If you’ve done your due diligence and researched the typical compensation for the job you’ve applied for, as well as your level of expertise, you now have the necessary information to negotiate your pay with possible employers. Here are some possible responses to the question “What are your salary expectations?”
#1. Research the Salary for the position.
To give an accurate salary proposal that aligns with the market average in your industry, you must first know what the market average is. Thus, take time to research the average salary for the position you’re applying for and the salary ranges for the position in your city and state. You can also research what other people in your position who have similar experience and education levels earn.
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#2. Thank the Interviewer
Typically, expressing gratitude shows professionalism and creates a positive impression, making the negotiation process more collaborative. Also, It’s a subtle way to build rapport and may influence the overall negotiation atmosphere in your favor. Therefore, start by thanking the interviewer for bringing up the topic and acknowledging that it’s important to discuss compensation and salary requirements.
Here is an example: “Thank you for asking about my salary expectations. I appreciate the opportunity to discuss compensation, as it’s an important aspect of the job search process.”
#3. Redirect the Question
After showing gratitude, know that you’re still early in the hiring process and still learning the specifics of the job duties and expectations. Hence, you may want to deflect any salary questions to discuss later on.
Meanwhile, some states in the US have made asking for current salary, previous salary, or salary expectations illegal. To delay answering, you could say: “I’d like to ask a few more questions to have a better grasp of what the position entails. That way, I can provide you with a more realistic expectation.”
#4. Discuss Total Compensation
When asked “What is your salary expectations?” don’t be too quick to respond with a figure. Typically, in addition to salary, there may be other benefits, perks, or forms of compensation you consider just as valuable. So, including these as possible opportunities for negotiation is an option as well.
For example, while the employer may not have budgeted enough for your ideal salary range, they may be willing to offer equity in the company to make the compensation package more attractive to you.
You could answer the question with: “Salary is important, but I also consider the overall benefits package. Could we discuss not just the base salary but also other perks and benefits that come with the position?”
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#5. Ask for the Company’s Budget
If the interviewer continues to press you for a number, ask them what their budget is for the role. By doing so, you put the onus on them to come up with a number and can know upfront what range you are looking at without giving a number yourself.
#6. Provide a Salary Range
If your deflecting attempts have failed and the recruiter is pressing you for a response. In that situation, you should consider providing a range. If you go this route, you should have done the wage research ahead of the interview so you have a realistic notion of the normal salary range for the role. Now, you’ll want to compare your experience and qualifications to the job description and data you’ve acquired to see where you fit in the range.
Similarly, keep in mind that the employer may choose to pay you at the lower end of your salary range, so make sure your target figure is as close to your lowest number as possible. However, numbers aren’t something you need to share while interviewing but it’s good to have it in the back of your mind for when it is time to negotiate.
#7. Provide a Specific Number if Pressed
When you’re trying to shift focus away from mentioning a figure if you are asked “What is your salary expectations?” but the interviewer insists that you provide a specific figure, you can go ahead to mention a number. However, ensure to provide a specific number with caution, as doing so can limit your negotiating power.
To arrive at a specific number, consider factors like the job responsibilities and your years of experience. Here is an example: “Based on my understanding of the position, my experience, and this role’s responsibilities, I believe a fair salary would be around $70,000.
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#8. Show Flexibility and Openness to Negotiation
Even after providing a specific number or salary range, expressing your willingness to discuss salary and other compensation expectations is crucial. It helps create a collaborative atmosphere and allows for a better chance of reaching a satisfactory agreement on the job offer. Therefore, when discussing your salary expectations, emphasize flexibility by stating that you are open to negotiation.
For example: “While I’ve mentioned a salary of $70,000, I’m willing to discuss this further considering other aspects of the compensation package.”
#9. Give a Higher Range
If you’re discussing with the interviewer and they’re refusing to share their budget without hearing your salary expectations, give them a range based on your market research that’s on the higher end. However, be sure to emphasize that you’re flexible and open to negotiation, or the interviewer may consider that you’re too expensive for the role and screen you out.
#10. Focus on Prioritizing Career Growth
When asked “What is your salary expectations?” During an interview, rather than the monetary aspect, focus more on prioritizing career growth. This allows you to convey your commitment to long-term value for the company. Likewise, it shows that you are motivated by professional development and concerned about contributing meaningfully to the organization.
Therefore, express openness to a performance-based compensation structure, where you can prove your value to the company and be rewarded accordingly. Here you can say: “I appreciate the opportunity to discuss compensation. Could we explore the performance review process and potential salary adjustments based on achievements and contributions to the team?”
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Tips When Negotiating Salary
When negotiating salary during an interview, certain things should be in place to help the conversation go smoothly, here are a few pointers:
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Frequently Asked Questions About “What is Your Salary Expectations?”
What should I answer for salary expectations?
When asked about salary expectations in an interview, you can deflect the question back to the recruiter, or provide a salary range while you leave room for negotiation.
Is it bad not to answer salary expectations?
Well, it’s not ideal to completely avoid the question about salary expectations in an interview, you can navigate it strategically. Therefore, consider expressing your eagerness to learn more about the responsibilities and the overall compensation package before providing a specific figure. However, be prepared to discuss your expectations later in the hiring process.
How do you avoid answering a question about salary expectations?
Instead of directly avoiding the question about salary expectations, you can tactfully redirect the conversation. For example, you might say, “I’m very interested in learning more about the responsibilities and overall compensation package for this role. Could you provide more details on those aspects before we discuss specific numbers?” This allows you to gather more information while subtly postponing the salary discussion.
How do you reject a job offer due to salary expectations?
When rejecting a job offer due to salary expectations, it’s essential to be diplomatic and express gratitude. You can say something like, “I appreciate the offer and the opportunity to join your team. However, after careful consideration, I’ve decided to pursue another opportunity that aligns better with my salary expectations. I value the positive interactions we’ve had.”
Conclusion
In conclusion, proper preparation is always key to winning in life and the same rules apply to interviews. With adequate research, practice, and preparation, you can be well-positioned to stand out from other job applicants and ace your interview process. Therefore, with all the information in this post, you have what it takes to negotiate salary expectations for an interview.