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  • How To Answer "What Are Your Salary Expectations?"

    This question may pop up at some point in your interview process. I know you get mixed feelings when asked this question because talks about money can be stressful or interesting. It depends on you.

    Money

    If you do your research on the average compensation for both the role and your experience level you will have an interesting conversation with your recruiter or hiring manager. Some of you may wonder why they ask about your salary expectation. I will present you with one major reason. 

    There is a budget for the role and the recruiter wants to make sure your expectation aligns with the budget. Some of you might say 'why don't they state the budget and if I am okay with it I will let them know'? Well they would rather negotiate so you go first. 

    Your answer to this question is the beginning of the salary negotiation process. When preparing to answer this question make sure you arm yourself with real data so you are not just calling a figure off the top of your head. 

    Consider the job location and your cost of living. Consider your experience level, educational background and skills. Consider the industry. We don't expect a hotel to pay the same thing with an oil and gas company.

    By the time you have this data and you are asked 

    What is your salary expectation? Here are some suggestions

    1. If you are going to provide a range, keep in mind that they might work with the lower end of your range. So make sure the figure you put at the bottom of your range can also fly for you. 

    You can say I am looking at 150-200k monthly net payable or 1.8-2.4m annual net payable
    You can also state that you are willing to negotiate if there are other benefits, bonuses etc attached to the offer

    2.Due to my skill set and experience level, I am comfortable with 300-400k  monthly net payable. I also feel this is in line with industry average.

    My piece of advice: When negotiating aim high. If you want to make 100k per month dont say you are looking for 90-120k instead say 130-150k 

    Secondly, be confident. Don't sell yourself short. A display of confidence indicates you know your worth. It shows you won't accept less than you deserve.

    So at your next interview arm yourself with data so you are having a data-backed answer to avoid undercutting yourself or overshooting your shot.

    Updated on 11:22-am May 16,2020


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    Tags: Salary

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