One of the most common—and challenging—questions you’ll face in an interview is “What are your salary expectations?” This can be a tricky question to answer. For one, you don’t want to lowball yourself and earn less than you’re worth. At the same time, you don’t want to name an outrageous figure and price yourself out of a job. So, how do you strike the perfect balance? Keep reading for tips on answering this question to make you and your potential employer happy. This article will discuss how to answer this question and negotiate your salary effectively.
How to Answer “What are your salary expectations?”
Do Your Research ahead of Time
Before you sit down for your interview, it’s important to research and have a good idea of the going rate for the position you’re applying for. There are several ways to find out this information. First, try searching Glassdoor or Payscale. If you know someone in the same field, see if they’re willing to share their salary information. Once you have a general idea of what others in your field earn, you’ll be better positioned to negotiate a fair salary.
Analyzing Your Experience and Skills
In addition to researching the average salary for your position, you should also closely examine your experience and skills. How much experience do you have in the field? What unique skills or knowledge do you bring to the table? The more experience and expertise you have, the more negotiating power you’ll have regarding salary.
Assessing Your Level of Responsibility
The level of responsibility required for the job you’re applying for will also affect your salary. An entry-level position will typically pay less than a managerial role. If the job requires extra hours or working on weekends, you may be able to negotiate a higher salary to compensate for the extra time required.
Suppose you’re asked about your salary expectations during a phone screen or initial interview. In that case, it’s perfectly acceptable to say that you’re not comfortable discussing salary until you’ve had a chance to learn more about the role. This will give you time to research and come up with an informed answer.
Avoid Giving a Specific Number
Once you’ve taken the time to research and assess your skills, it’s time to start thinking about what salary range you’re comfortable with. Remember, however, that you shouldn’t name a specific figure just yet. Instead, have a range in mind that you’re comfortable with. This will give you some wiggle room during the negotiation process. For example, if you’re hoping to earn $50,000 annually, you could say, “I’m looking for a salary in the $50,000-$60,000 range.” By giving a range rather than a specific number, you leave some wiggle room to negotiate later.
Be Prepared to back up Your Requests with Data.
If you request a certain salary, you must be prepared to back up your request with data—such as your years of experience or educational achievements. Your potential employer is more likely to take your request seriously if they can see that you have justification for it.
Negotiate your salary
When it comes time to negotiate your salary, it’s important to be assertive but also flexible. Be prepared to back up your request with data from your research. If the employer returns with a lower offer, try to negotiate for additional benefits instead of more money. These could include extra vacation days, flexible scheduling, or telecommuting options.
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What to avoid while answering
Avoid exact number
Never give a specific number without knowing the range for the position you’re applying for.
Avoid lowballing yourself. It’s important to remember your worth and not undervalue your skills and experience.
Don’t be open to any salary.
Don’t say you’re open to any salary. This sends the message that you’re desperate for the job and will take anything they’re willing to give.
Don’t be caught off guard by the question. Have a general idea of what you’d like to earn before the interview so that you’re prepared to discuss salary expectations.
Don’t have unrealistic expectations. If the salary range for the position is $50,000-$60,000, asking for $80,000 will probably not get you very far. Be reasonable in your request and open to negotiation.
5 Example Answers to “What are your salary expectations?”
“I have researched similar positions, and the average salary for this role is $XXXX. With my experience (X Years) and skill set(example – Developer, Designer), I am confident I am worth at least $XXXX. However, I am also open to negotiating other benefits, such as paid time off or flexible scheduling.”
Example Answer 1
My current salary is $75,000/year. I am looking for something in the range of $85,000-$95,000/year. I am willing to negotiate based on the duties and responsibilities of the position.
Example Answer 2
I am currently earning $100,000/year. I want to maintain a similar salary in my next position. I am open to negotiation based on the duties and responsibilities of the role.
Example Answer 3
I would be looking for a salary of $100,000/year. This would be a fair wage for my skills and experience. I am confident I could significantly impact your organization and contribute to its success.
Example Answer 4
I am flexible with my salary expectations ($90,000-$100,000/year). I want to be compensated fairly for the work that I will do, and I am open to negotiating a fair salary. Thank you for considering me for this opportunity.
Example Answer 5
Regarding salary, I expect to be paid a fair wage for my experience and skill set. I am confident in my ability to provide value to a company, and I believe that should be reflected in my compensation. I am open to negotiation but have a strong sense of what I deserve and am not afraid to stand up for myself. With that said, I am also realistic about the current market conditions and am willing to compromise if it means landing the job I want. I am confident we can reach a fair agreement for both parties.
Answering the question “What are your salary expectations?” can be tricky during an interview. However, by doing your research beforehand and being prepared to justify your requests with data, you can confidently give a well-thought-out answer that will make you and your potential employer happy.