Salary expectations may be an awkward question to answer for possible hires in an interview, but this is a question that employers or hiring managers need to discuss. Since there is no way to avoid this query from coming up, it’s best to know how to answer smartly.
It’s best to prepare your responses ahead of time. To have fruitful pay discussions with potential employers, you should first research similar positions and expertise so pay negotiations can be more productive and engaging.
Let’s look at three useful tips to answer the question, “What are your salary expectations?”
Candidates who aren’t familiar with market-rate pay may not be able to give a realistic answer to their salary expectations.
You should first research the position and its salary range. If the job is a rare, highly desirable, or executive-level position, you may need to contact several industry sources to get a realistic salary range. The more unusual or unique the job, the more labor-intensive it can be to research industry pay.
Once you have an idea of the average salary range for the job, consider whether you’re willing to negotiate and how much. Sometimes, possible employees miss out on the chance of getting a competitive salary because they are not aware of how much someone in such a position can get.
This is especially true for new job seekers. Since they just want to get a job as soon as possible, most end up with a salary range way lower than what they are supposed to be getting, even if they are fully qualified.
Ensure you already have the knowledge and skills to back up your wage expectations before applying for a particular job. Giving a salary range that is too low can send signals that you are not competent.
Somebody confident with their skills will not be afraid to negotiate for good pay for their position, especially if they have the experience and expertise to back it up. It shows the employer or hiring manager that you give ample value to what you can do and what you’re capable of bringing to the table in exchange for that salary.
If you don’t have a wealth of experience to draw on, you can explain how you learned the skills you need by taking classes, getting certified, or getting a job. A hiring manager or employer will not hesitate to give a newbie the position if they can show proof of competence.
Most often than not, job posts will indicate the salary range for the position they are looking to fill. If the displayed salary range is below your asking price, don’t risk applying for the job and asking for a higher salary range, as the employer might be put off, especially if they cannot afford it.
Just as an applicant’s projected compensation range reveals their value for their talents and work, an employer’s advertised salary range may show how important the position is to them. How much they’re willing to haggle will tell you how willing they are to find somebody competent.
A low salary offer indicates the employer either does not realize how much work is required or is reluctant to pay for the labor they want. In reality, some employers will try to give the least amount of compensation possible for a position. It’s better you steer clear from them, or risk getting stuck in a job where you’ll be undervalued.
Knowing the employer’s willingness to pay for a position allows you to assess whether they can provide you the compensation desired. With this in mind, you either refuse the offer or negotiate a salary based on their willingness to pay.
Every job interview is an opportunity to sell yourself and your skills. To obtain the income you deserve, you must be willing to answer the question. Don’t be scared to refuse an offer if it doesn’t fit your needs and expectations.
Remember that they are not just paying you for what you can provide for the company in the future, but even the education, training, and experience it took you to be good at that kind of job.
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