How to Answer: What Are Your Salary Expectations?

Posted by Fed Finance Canada in Our employment advice
Posted at 21/03/2018
How to Answer: What Are Your Salary Expectations?
“What are your salary expectations?”

This is probably one of the most difficult job interview questions you’ll face. Unfortunately, you can’t avoid this question. Especially when the hiring manager is sitting right in front of you!

That said, you can prepare your answer ahead of time so you’re not caught off guard. 

We’ve compiled a few tips to help you answer the age-old “expected salary” question.

Evaluate your skills

To determine what salary you should ask for, you should first assess your education, experience and skills. Look into the state of the accounting and finance job market to see how saturated it is and learn the most in-demand jobs.

You should also take into account company locations, number of employees and whether the business is privately or publicly owned.

Of course, it’s important to know the current salary range for the position. This will give you a better idea of what you can realistically earn. The internet is full of great information that will help you compare your profile to that of other job-seekers. This research will arm you with a more solid idea of what you can expect to earn.

Consider the working conditions

When considering a certain company, you should look at more than just salary. If you're looking for a full-time job and the salary offered is less than what you’d hoped, you can ask for additional perks, like flexible work hours, more vacation days or the ability to work remotely.

Once you are fully aware of the employee benefits, you can decide whether these extras make up for a salary that doesn’t meet your expectations.

Choose your salary range carefully

You will often be asked about your expected salary range, either in your online application or by the recruiter in your job interview.

Take the time to think about your answer before responding. The employer will likely offer you the lower end of your salary range, so choose this number carefully. In order to be happy with your future job, you have to be able to maintain an acceptable standard of living. Otherwise, you may regret your choice.

Salary expectations: don’t be caught off guard

The question of fair compensation will always be difficult to address in a job interview. If you aim too high, you may be knocked out of the running. Aim too low, and you could end up with an unattractive offer. Preparing for this question ahead of time will increase your chances of landing your dream job and dream salary.

Fed Finance is here to help you with your job search and give you informed advice. To benefit from our experience and expertise, contact our consultants today!