Sep 05 2008
What Are Your Salary Expectations?
Reaching the end of a job interview, the Human Resources Person asked a young engineer fresh out of MIT, “What starting salary were you looking for?”
The engineer replied, “In the region of $125,000 a year, depending on the benefits package.”
The interviewer said, “Well, what would you say to a package of 5 weeks vacation, 14 paid holidays, full medical and dental, company matching retirement fund to 50% of salary, and a company car leased every 2 years — say, a red Corvette?”
The Engineer sat up straight and said, “Wow! Are you kidding?”
The interviewer replied, “Well YES, but you started it.”
You may laugh but this question comes up all the time. Therefore, trying to create an impression that the salary does not concern you actually is counter productive. It indicates that you have trouble coping with the question and may even insinuate that you under value your self or have low self esteem.
First thing to remember. You don’t have to disclose your current or past salaries and you don’t need to respond to this question. Unfortunately it’s not that easy.
Given you are interviewing for a new job, the manner in which you deal with the question can affect the outcome of the interview, so it is worth being prepared.
Tip
If you are unsure try to deflect the question by inquiring the interviewer what they are offering.
OR
Rather than quoting a figure present a range. This range should take five factors into account:
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The salary you earned in your last position
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The salary standards in the industry
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The current market situation – it’s all a question of supply and demand. If demand is currently high in your profession, you can suggest a higher salary and offer a tougher bargain. If the opposite is true you may have to compromise.
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Your work experience and qualifications / credentials– the more experience and / or qualifications you have the more your services are ‘worth’ to the employer (in some professions the work experience is more important than the credentials; in other professions it’s the other way around and yet in others it may be a combination of both).
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Finally, the salary you aim for.
In your early career, you will be expecting an increase in salary when you move to a new job - usually because the new job may be a step up for you and as such has more responsibilities.
You also need to remember that your new employer really has no way of finding out your previous salary, so if you want to exaggerate a little to help justify an increased expected salary, then feel free to do so - it’s not a big deal, but remember be conscious that you shouldn’t go to far with this. Adding a couple more £k to your current salary isn’t a big deal.
How to respond when asked what your salary expectations are.
Let’s assume you want more money than you are getting just now. If the salary hasn’t been disclosed for the job, then you need to carefully discuss the potential with your new employer.
You can start off by saying something like,
“I would expect a salary that is in line with the level and responsibilities of the job and my experience - what starting salary do you offer for this job role?” –
It doesn’t commit you to a specific figure, and moves the discussion back to them. They will always have a figure in mind from the start of the interview - most employers just want to see if they can hire you for less money!
There are several responses they can give to this:
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A figure that is way less than you want (in which case you need to think about if the job is really suitable for you)
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A figure that is a little lower than you want (then you need to put an argument forward for a higher starting salary)
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A figure that is suitable or higher than expected (take it - or haggle some more if you’re feeling cheeky!).
Salary negotiations are a sensitive and complex issue. If possible try to avoid discussing the salary in the first interview, however if the issue is raised by the interviewer then respond accordingly.
The most important point to bear in mind is to request a reasonable and fair salary. A salary that encompasses the five factors: your last salary, the industry salary standards, the current employment market situation, your work experience and qualifications and finally the salary you aim for. Ask for what you deserve; if you consider these five factors you are bound to come up with a reasonable salary range.
The salary negotiations are always a complex and delicate matter; consequently it is wise to postpone it to the crucial meeting or point in the interview after most other issues have been dealt with. If you have more than one interview, then use the first interview as an initial platform to make the right impression. Do not assume that employers will always prefer an applicant that has lower salary expectations. On the contrary, if you managed to impress the employer, they are likely to seriously consider hiring you despite the fact that your salary expectation may be hire than a fellow candidate. Hence, making a good impression in the interview subsequently elevates your salary negotiation point

