What is the best way to answer the question “What is your salary expectation” during an interview? Stay with me to find out how.
You are just one step away from landing your dream job if you’ve been invited for an interview. However, you could also jeopardize your chances if you aren’t well-prepared. That’s why we’ve written this article to guide you on how to answer the question about your salary expectations during an interview.
A salary expectation is the amount of money you would like to earn in a year. This number can be expressed as an hourly wage, annual salary, or monthly salary.
Crafting the best response to this interview question about expected salary requires a careful and strategic approach. Job interviewers ask candidates about their expected salary for several reasons. They do this to evaluate your level of work experience, assess your competence level, and also check if you are open to negotiations.
By the end of this article, you will learn how to answer the interview question, “What is your salary expectation” effortlessly. So without much delay let us delve in!
Five Ways to Answer “What is Your Salary Expectation” During an Interview
Your interviewer or hiring manager already has a budget they are working with. Therefore, you need to answer questions about your salary expectations wisely to secure a good job for yourself without selling yourself short. In this section, we will go over how to answer the question about your salary expectations when you are being asked.
1. Thank The Interviewer
One method of using delay tactics is to buy yourself some time to process your thoughts. For example, when discussing salary requirements, you can say, “Thank you for addressing the topic of salary requirements. I believe that discussing compensation is crucial to finding the right fit, and I appreciate your willingness to engage in this conversation.” This demonstrates your professionalism and courage to the hiring manager.
2. Highlight Your Skills and Achievements
During an interview, the goal is to stand out among other candidates by showcasing your skills, accomplishments, and the value you can bring to the organization. Instead of immediately discussing your salary expectations, focus on demonstrating your worth to the hiring manager. By highlighting your achievements and skills, you can communicate that you understand your value, making the discussion about salary expectations more productive and less surprising for the employer.
3. Give a Salary Range
Do proper research about the organization, the job you applied for, and the salary range others offer. By simply doing this, you will be able to speak professionally with them. Do not provide your specific salary expectation, rather give the hiring manager a range of expectations that reflects your values.
Despite giving them a range, also have a specific amount in your mind in case they probe you further to mention a specific amount. In addition, emphasize your openness and flexibility in negotiations.
4. Reverse the Question
Subtly ask them this same question about how much they are willing to pay for the job role. You can ask questions like “Thank you for allowing me to discuss my salary expectation. Based on my understanding of the position and the value I can bring to the organization, I am curious about the salary range you have in mind for this role.
5. Consider Other Compensations
Other things to put into consideration are as follows
- Training opportunities
- Mentorship programs
- Healthcare benefits
- Potential for rapid advancement
- Is the company a startup company?
- Are applying for an entry-level position? etc
Conclusion
“There is a saying by Seneca which goes, ‘Luck is what happens when preparation meets opportunity.’ This is true. Don’t just wake up on the day of your interview and head there without proper preparation. Take some time to conduct background research, understand industry trends, organize your documents, and dress well.”
Just a reminder, when answering your questions, keep in mind that the interviewers have reviewed your CV and will be asking based on the information provided there. Be honest and answer accurately. You’re almost at your dream job – good luck with your interview!
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