Job interview: How do you answer a question about your salary expectations?
Posted at 21/03/2018
"What are your salary expectations?” This is probably one of the most difficult questions to answer in a job interview. Unfortunately, it can’t be avoided, especially when the hiring manager sitting right in front of you asks you directly.
However, you can formulate your answer in advance to avoid being caught off guard when the subject of desired salary is discussed. Here are some tips that will help you prepare an appropriate answer to a tricky question about your salary expectations.
Assess your value before your job interview
To answer a question about the salary you think you deserve, you must first assess your level of education, your experience and your skills. Take a look at the job market in accounting or finance to see how it is doing, how saturated it is and what professions are most in demand. Your assessment should also consider the location of the business, the number of employees working there and the type of ownership, private or public.
A great deal of information online enables you to compare your candidacy to that of people in similar positions. You can get a better idea of the salary you might receive after doing some research.
Consider working conditions and other job benefits
You don’t just receive a salary or a paycheck when you work for a company. You can also receive different benefits, including vacation days and other advantages. If you are looking for a full-time position and the proposed salary is lower than what you were hoping to earn, you can claim more privileges, flexible work hours or even permission to sometimes work remotely.
Once you learn about a job’s social benefits, you can assess whether these extras make up for a lower salary.
Pay attention to the salary range that you propose
Whether the salary issue is addressed in an interview with a recruiter or in an online job application, you will often be asked to provide a salary range that would satisfy you.
Before answering, take the time to let your answer marinate. There is a good chance that the employer will offer you the lower number in your salary range, so the number shouldn’t be too small. Put some thought into it since you want your future job to be fulfilling and it has to enable you to maintain an acceptable living standard, otherwise you may regret your answer.
The difficult issue of compensation: be prepared
The issue of compensation will always be difficult to address confidently during a job interview. If you place your bets too high, you can fall out of the race. If you go too low, you could end up with an unattractive offer. If you are prepared for this question, the odds will be on your side to get the job of your dreams with a salary that satisfies you.
To help you in your preparation, the Fed Finance team can offer you insightful advice for your job search. Do not hesitate to contact us to benefit from the expertise and experience of our consultants.