What Are Your Salary Expectations?

Everything about your job interview may go as planned right from striking a great rapport with the interviewer to scoring high in the technical discussion. All goes well until someone in the hiring team pops the question, “What are your salary expectations?”

A lot of job seekers grow concerned when the question of salary is raised. The fear is that when you lower the number, you're taking money off the table. On the other hand, if you quote an amount that's too high it could cost you being considered for the job. But here’s the good news: if you're discussing expectations for compensation during a job interview, there are ways of making sure that the figures you provide are both acceptable to you as well as within the budget of the employer. Research, tact and timing are essential to your success when discussing salary with prospective employers. Here's the way to go about it:

Research the Market and Pay Trends

Whatever job you're looking for or the position you are seeking at any stage in your career, your job interview is your chance to convince the hiring manager that you are worthy of top dollars. After the interview you want your prospective employer to think, "That's who I want to employ. What can I do to convince them to become part of the team?"

Expectations for compensation could be mentioned during the first formal interview or during the initial phone screening. This is the reason you should begin creating your "expected pay" response as soon as you submit your application for the position. Do considerable research by looking up reliable sources such as the U.S. Bureau of Labor Statistics to get data on the wages of your particular industry. Also, read the most recent Robert Half Salary Guide to determine the national average salary for the job you're looking to fill.

Consider a Salary Range Instead of a Number

Candidates should not mention their salary in the job application or when they first call to verify. Bringing up the topic too early can signal you are more concerned about the paycheck than the job. However, that doesn't mean employers would not bring up the topic and pose questions on salary requirements when they start the initial conversation.

If an advertisement requires applicants to provide the expected salary, provide an estimate and not a specific amount. Answers such as "Negotiable" may work but they may also cause you to appear evasive. Once you've done research you would know what a fair range of salary is going to appear like. Should the topic of compensation arise when you first meet an employer you will be able to provide an estimate and even hedge it a bit.

Reframe the Question Diplomatically

If it's early in recruitment, there's no reason to be sly about using an estimated salary as mentioned above. Employers who inquire about the expected salary prior to talking about the position in depth cannot demand a more precise response. At this point, you have the opportunity to turn the conversation around. If salary requirements are mentioned during a phone interview or when you are beginning the first interview video with your company, you can smile and respond as follows:

"I'd want to know more about the position, the duties and the work environment before discussing the salary. However, can I inquire about the salary ranges you're looking at for this job?"

When you've done it professionally, you'll be in a better position to prove that your primary goal is to learn whether the job is what you're looking for and that's something employers will appreciate. Moreover, your sly offer to reveal the salary range is sure to be a hit. If the salary range of the employer is within the range you're thinking about or greater, then thank them for providing the details and verify that you're in the right range. If it's lower, tell them that it's on the lower portion of what you had hoped to earn but that you'd be interested in discussing the possibility.

You must be able to demonstrate that you are exactly what employers are searching for. You'll likely then be in a position to negotiate an amount you like while you work into the specifics that the employer has offered.

If the company is quoting a lower amount than you would like to earn, inquire if the numbers could be adjusted to accommodate the correct package. Do not waste your time or that of your employer if it's obvious from the beginning that there won't be an agreement on the salary.

Know When to Provide an Actual Salary Amount

At some point of time, you'll need to decide upon signing a contract. At your second appointment (or definitely the third should the process take longer than that) you've likely realized what you have to be aware of about the position and how your success can be measured. You've been in contact with the team members and discussed the salary range you're thinking about. The salary expectations of the applicant and whether the employer is able to meet them are the most important unanswered questions. Therefore, if an employer asks you to disclose your anticipated salary, it is important to be prepared to provide an amount rather than a range.

Take into account all the information you've gathered through your research and interview process. It's possible that you had to rethink your position when the topic of salary requirements first surfaced but it doesn't mean you're bound to the salary range you initially stated. Write your answer down by quoting, in a concise manner, what you think is important to your expectations regarding compensation. It would be better if you explain the question in a positive light. Follow the examples below:

"Given the responsibilities that come with this position, and the sheer number of people I'd have to manage I believe that the amount of $XX is reasonable. It's an exciting prospect and I'm convinced I'm the best person to fill the position."

"I'm extremely excited by the challenges you've described! I think $XX is a good starting salary. There's plenty to take on and I'm certain I'll succeed in the job."

"I'm thinking about $XX. This is a large job, one that I'm acquainted with and am well-suited for. I was part of a team similar to this at my previous employer and we achieved all objectives we were tasked with. I'd love to tackle another task similar to this!"

"I am aware of the salary range I received earlier from you. However, I'd prefer to suggest $XX as the salary starting point. The responsibilities associated with this job are extremely demanding and, as we've said, I'm equipped with the necessary abilities and experience. I am confident that I will provide the results you're seeking."

Always be Honest

Do not misrepresent your experiences and your education or the impact you've had in your previous or current job. Do not do this on your resume, in your cover letter, in interviews or while discussing the salary specifications. The truth is likely to surface, most probably in your references checks, during a skill test or when your employer has a look at your performance at the new job. Some day, the truth will emerge.

This is also true for your salary, whether it's current or previous. It is best to direct the conversation towards your abilities and the value you'd add to the position instead of what you've been paid in other positions. However, if being asked to discuss your salary at present, you must be sincere. Finding out that you've overstated the figures could lead to losing an offer of employment.

What do you Finally do?

The employer has offered the salary and the pay is in line with or close to your expectations for compensation. What do you do now? Tell the hiring manager you are grateful and request a day or two to think the matter over if you think you'll need time.

If you do decide to accept the job, show your excitement and discuss the starting date. Make sure you request an official, written proposal to make sure all the information you've discussed, from the job description and salary to benefits and perks, is true. Be sure to avoid any miscommunications regarding the terms of your contract. Don't provide notice at your current position until you've completed and returned your written agreement.

HiCounselor makes career dreams come true for job seekers as well as recruiters. While job seekers benefit from HiCounselor’s career accelerator program along with the coaching services from industry leaders employed at FAANG companies, recruiters join hands with HiCounselor to empower their hiring strategy and zero in on the best candidates. Learn more about HiCounselor here and reach out to us on LinkedIn, Facebook and YouTube.