Few questions can cause as much anxiety during a job interview as “What are your salary expectations?” But when it comes to negotiating your salary, it is important to remember that the first number you mention is not set in stone.
You should always be prepared to negotiate up from your initial number. However, if you give an extremely high number, you may price yourself out of contention for the position altogether. On the other hand, if you give a low number, you may end up earning less than you deserve.
So how do you find the perfect middle ground? In this very detailed guide, we will explain why employers ask this question, how you can determine your desired salary, and how to answer interview questions about salary expectations.
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Most job hunters have been in a situation where they’re asked about their salary expectations early on in the interview process. It can be quite frustrating because you don’t want to lowball yourself or price yourself out of a job.
While it’s a difficult question, there are always better ways to answer it tactfully. There are several reasons employers ask about salary expectations, and these three are some of the most notable ones.
The first reason is simply that they want to know if you’re within their budget. They might be looking to fill the position as quickly as possible and don’t want to waste their time interviewing candidates out of their price range.
The second reason is that they want to know if you’re sensible. If your request is too high, they might think you’re not being realistic. On the other hand, if your salary expectations are too low, they might think you’re desperate or tend to undervalue your worth.
Some employers also ask about salary expectations because they want to know if you’ve done your research. If your salary requirements are a long way off from the average salary for that position, it will signal to the employer that you haven’t bothered to do your research. On the other hand, if the number is in line with the average salary, it will signal that you’ve done your research and you’re knowledgeable about the position.
For most people, the most challenging part about negotiating their salary is figuring out what their desired salary actually is. After all, if you don’t know how much you want to earn, how can you expect to get it?
There are a few different ways to determine your desired salary, and the most important thing is to be realistic. Here are a few things to keep in mind when coming up with your desired salary:
Once you’ve determined your desired salary, it’s time to start reflecting upon how you’re going to answer interview questions about your salary expectations. It is important for you to be prepared with a well-thought-out answer so that you don’t end up underselling yourself or pricing yourself out of a job. Here are five recommendations for how to answer questions about salary expectations:
Please note that if you’re not honest about your salary expectations, the employer might offer you less money than what you’re willing to accept. This could put you in a difficult position and may even result in losing this job opportunity.
It’s important that you do your research before your interview so that you have a good understanding of the market value for the position. This will help you to come up with realistic salary requirements, that are neither too high nor too low.
While it’s important to keep a certain number in mind, you should also be flexible. If the employer offers you a salary lower than what you are hoping for, be open to negotiation.
When you’re answering questions about salary expectations, it’s important to remain positive. If you sound desperate or like you’re struggling to make ends meet, the employer might think you’re not worth the investment.
Now, contrary to what you might think, it’s actually sometimes better to give a specific number rather than a range. According to a near-recent study by the Colombia Business School, people who give specific numbers are more likely to get final offers that are very close to what they hoped for.
While having suggestions for how to answer “What are your salary expectations”? is all well and good; it’s also helpful to see some examples. So, we’ve put together a few model answers that you can use as inspiration for your own:
These are just a few examples of how you could answer the question, “What are your salary expectations?” Remember to be honest, do your research, and remain flexible and positive throughout the process.
