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What are your salary expectations?
What are you offering?
Well, what do you want?
Well, how much can you pay? This might be the response the interviewer deserves, but
it's unlikely to get you the job.
I'm Alicia your work BFF helping you do all of the things and today
I'm going to explain how to answer the interview question
What are your salary expectations? For the purposes of this video
I'm going to assume that a range hasn't been provided (super annoying,
I know) and I'm going to give you 3 concrete examples of exactly what
you can say depending on how the interviewer responds. As with all
interview questions
there is a reason
this is being asked.
If it's being asked in the early stages of the interview process
it's being asked to eliminate you. The company has a budget in mind for
this role, and they want to know if you fall in the acceptable range.
They don't know you and how amazing you are. Right
now
you're just a number in a pool of candidates, and they need to narrow
down. Your goal is to provide an answer that keeps you in game and
doesn't low ball you.
If it's being asked in the final stages, it's being asked to make sure
we're all in the same page and to see if they're willing to
accommodate you now that they know how amazing and valuable
you are. That\s a different video.
OK so how do we not get eliminated from the process and not undervalue
ourselves?
This is where your market research is super important.
You need to go into the interview understanding your value in the
market at this time, and you need to know what you want.
That means looking at similar roles on LinkedIn, checking out
Glassdoor, speaking to reputable recruiters and taking a look at any
industry salary reports that you have access to it.
It also means giving thought to the commute, the leadership team, the kind
of work
you would be doing, and anything else
you would factor into a decision like this.
This is going to help you determine your range.
Once armed with your market research
you're ready to perform an age old ritual that really should be retired.
Here's how it goes.
What are your salary expectations?
I would hope that my salary would be
in line with the market rates for similar positions in New York. What do
you usually pay someone in this position? We're considering applicants in the 90-100K range. Does this meet your
expectations?
Yes, it does.
In this example you put the question back on the interviewer and it
worked. That's great, but it isn't always this easy.
Let's take a look at the next example.
What is your salary expectation?
I would need more information about the specifics of the role and any
company benefits included to be able to give you an accurate figure.
Ok.
Well, what questions do you have? In terms of benefits
we offer a standard pension plan, medical and 30 days annual leave.
Do you have a range that you're targeting?
We're still determining that. My decision will depend on learning more
about the company and the specifics of the role but
based on my research and my experience
I would estimate anywhere from 50 to 65K.
Now, I said 50 to 65 k because that's what the market research told me the
range would be for this role.
Your figure will obviously be higher or lower, depending on the role
you're applying for.
In this example, the interviewer was completely unwilling to budge and
offer a range, which is unfortunate, but it's what we dealing with
sometimes.
Let's take a look at one more example. What are your salary expectations?
I'm open, I'm looking for the best overall fit.
That's great, but we're going to need to know the range
you would consider.
I did some research and I found that the range for similar roles in this industry and location is 70 to 90 k
depending on experience.
This is range
I'm looking at but it would also depend on the overall package,
company culture and the specifics of the roll. OK great thank
you. You can see that the three keys to answering this question
successfully are putting the question back on the interviewer, avoiding
giving an exact figure and doing your market research.
I want to wish you all the best in nailing that interview and getting
the salary
you deserve. Leave me a comment with your best salary expectation
because I absolutely love hearing this stuff from you.
If you have any video requests, please feel free to pop those in the
comments too. Bye for now.