One of the most common—and nerve-wracking—interview questions is “What are your salary expectations?”. It’s a loaded question, and your answer can make or break your chances of getting the job. Your gut reaction might be to give a vague answer or avoid the question altogether. But if you do that, you could end up leaving money on the table or, even worse, priced yourself out of the job.
So how do you answer this question without pricing yourself out of the job or selling yourself short? Here are some tips.
Tip # 1: Do your research
Do your research. Before your interview, take some time to research salaries for similar positions in your area. This will give you a good idea of what to expect in terms of pay, and it will also help you to avoid over- or under-pricing yourself. Additionally, be sure to factor in any benefits or perks that may be offered as part of the job package. For example, if the company offers health insurance, this could offset some of the cost of your salary. By doing your research and being prepared to discuss your salary expectations, you can increase your chances of landing the job you want at a fair and competitive rate.
Tip # 2: Be honest
When you’re asked about your salary expectations, it’s important to be honest. If you give a number that’s too high, you might price yourself out of the job. But if you give a number that’s too low, you could end up leaving money on the table. The key is to be honest and transparent about your expectations. Before going into an interview, take some time to research the average salary for the position you’re applying for in your area. This will give you a good starting point for discussions about salary. When you’re asked about your expectations, be direct and honest. If the number you give is too high, the employer may counter with a lower offer. But if you’re upfront about your expectations, you’ll have a better chance of getting the salary you deserve.
Tip # 3: Be flexible
When you’re job hunting, it’s important to have a salary range in mind. This will help you to weed out jobs that don’t pay enough, and ensure that you don’t low-ball yourself when an offer comes in. However, it’s also important to be flexible. If you have your heart set on a particular salary, you may miss out on some great opportunities. Your potential employer might not be able to meet your exact salary expectations, but they may be willing to negotiate. If you’re open to negotiation, it shows that you’re interested in the job and willing to work with the company. In addition, keep in mind that benefits and perks can be just as important as salary. A lower salary can be offset by things like health insurance, paid time off, and 401k matching. So, when you’re considering a job offer, be sure to weigh all of the factors carefully before making a decision.
Tip # 4: Don’t bring it up first
Most job seekers are aware that they should avoid talking about salary too early in the process. If you bring up the topic of money before you’ve had a chance to sell yourself and show your value, it can make you seem like you’re more interested in the money than the job itself. However, there may be times when waiting for the employer to bring up the topic of salary is not in your best interests. For example, if an employer asks you what salary you’re looking for, it’s probably best to give them a range rather than dodge the question. Otherwise, you run the risk of appearing uninterested or evasive. In general, it’s best to avoid talking about salary until you’ve had a chance to establish yourself as a strong candidate for the job. Once you’ve done that, you’ll be in a much better position to negotiate salary on your own terms.
Tip # 5: Be prepared to walk away
It can be difficult to know what to do when an employer isn’t willing to meet your salary expectations. On the one hand, you may really want the job and be willing to accept a lower salary. On the other hand, you may feel that you are worth more than the employer is offering and be tempted to walk away. Ultimately, it’s important to know your worth and stick to your guns. If the company isn’t willing to pay what you deserve, then it’s not the right job for you. By being prepared to walk away, you send a message that you are not willing to be taken advantage of and that you expect to be paid fairly for your work. In the end, this will help you to find a job that is truly a good fit for your skills and experience.
By following these tips, you’ll be able to answer the question of “What are your salary expectations?” confidently and correctly. Do your research beforehand, be honest about your expectations, and be prepared to negotiate. Most importantly, know your worth and don’t be afraid to walk away if the company isn’t willing to meet your expectations. Answering this question correctly can make or break your chances of getting the job, so following these tips will help you increase your chances of landing the job.
Do you have any other tips for answering the question, “What are your salary expectations?”? Share them in the comments below!
If you’re a job seeker and struggling with interviewing, leverage your relationships with recuiters to prepare and even role play different interview scenarios so you can increase your chances of landing your dream job.