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Unveiling the Mystery: How to Answer Salary Expectations with Confidence

  • By Kamlesh Ranjan
  • April 29, 2024
  • 5 mins read
Answer salary expectation with confidence
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    Salary, is this the only thing that is driving us for work? Hm… Well, At some point in the screening process you must been asked about your salary expectation. Ideally, recruiters may ask this question during the initial telephonic interview or discuss salary after the in-person interview, and both situations can happen. Whatever the case might be, you may be asked directly about your desired salary, or you may be asked indirectly, like specifying your salary expectation in your application. But are you feeling uncomfortable talking about it, well I feel ya. Truth be told, even the most confident candidates may feel uncomfortable during an interview.

    This is a sort of critical moment for the person and it can can significantly impact your earning potential and overall job satisfaction. This is the same sort of feeling you usually have when you’re talking about your weaknesses. Therefore, you should prepare answers to salary questions in advance. And if you’re those people who might need a little bit of advice, we are here to help you out. Today, we will share some tips to answer rightfully about your salary expectations by providing practical strategies. That way, you can respond confidently and receive the compensation you deserve.

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    Why employers ask about salary expectations

    Now, is it mandatory to ask about salary expectations from candidates? I’ll say yes because the interviewer wants to understand your mind and desires so that he can offer you a good salary. Secondly, the interviewer wants to assess how well you know your worth. The best candidates know how valuable their skills are in the market and can confidently communicate that. To determine the proper market value, consider your education level, knowledge, work experience, and previous professional success.

    Lastly, they want to determine whether you are at the appropriate level of expertise. If a candidate charges significantly more than others, that candidate may need more experience for the job. However, a lower expected salary answer may also demonstrate that you have less experience than the position demands.

    How do you answer questions about the expected salary?

    It is very significant how you react wisely to salary expectations. It’s okay to share your desired salary. It’s essential to approach this problem creatively rather than trying to avoid it, and also be prepared about your industry standard salary range.

    Before your interview, research industry standards and salary ranges for the position you’re applying for. Salary information from Glassdoor and LinkedIn provides valuable data. Consider factors such as experience, skills, location, and company size when determining the appropriate scope. So, answer salary questions confidently and honestly. One of the main points is to be prepared to discuss your compensation expectations and demonstrate your research and understanding of industry standards. 

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    Show your salary range

    When discussing salary expectations, consider providing an appropriate salary range that reflects your research findings and matches the position’s requirements. This approach shows that you know market prices and leaves room for negotiation—the importance of evaluating the entire compensation package. Recruitment involves more than just salary. Be sure to consider additional benefits such as bonuses, perks, work-life balance, and opportunities for growth within the organization. It is essential to demonstrate flexibility in this process. Let them know you’re open to negotiation and emphasize that finding the right opportunity is your priority, not just the best salary. Tell the interviewer that you’re willing to negotiate a fair and competitive salary based on the responsibilities and expectations of the position. So, this collaborative approach shows your commitment to a fair and competitive package, leaving a positive impression on prospective employers. I feel, this type of answer will add more value.

    Try to hide your previous salary

    If possible, do not include previous or current salaries. Instead, focus on the value you bring to your new role. When you ask about your salary expectations by the interviewer, emphasize the value you can get to the company. Highlight relevant skills, experience, and accomplishments demonstrating how you can contribute to the company’s success. Remember, the goal is to present yourself as a competent and worthy candidate and be willing to negotiate and cooperate with the employer. Be confident and approach salary negotiations professionally and tactfully. If you show up directly, then there is a high chance that the interviewer try to judge your previous salary except for your skill and other importance. 

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    How to negotiate what you have offered

    First, it is essential to understand that the applicant and the employer are equal during the interview. You need a job; the employer requires a good employee. Therefore, the negotiation process is equally essential for both. Your fear about rejection and employers fear they won’t find a suitable candidate or won’t agree to their offer. Each has its conditions. For the claimant, this is the remuneration level below which they are unwilling to work, and for the employer, this is the maximum amount above which they cannot be paid. After all, the art of negotiation is to be the first to act and end the game on favorable terms. I will share some helpful tips that help you most in the future.

    Do not say the salary number at the beginning

    If you state your salary requirements first, this will be the salary you will receive, perhaps more or less. You must understand the full scope of your task and what you need to work on before you specify a specific amount so you don’t change your mind later. At the beginning of the conversation, it may seem to the employer that your expectations are too high. The employer still needs to understand your skills and how you will be helpful to the company. After analyzing your talent and creativity, they may change his mind about the salary.

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    Do not give a single number

    Sometimes recruiters ask directly about answer salary expectations. Then, you can phrase your answer correctly: “If I understand more clearly the amount and content of my work, I will be able to judge my expectations more accurately.” You can also say, “I expect an average compensation equal to the market standard.” You can also ask the counter question, “Do you have a specific budget for this role?  If you still need to give a number, decide what you can do that is reasonable. The number is the number you agreed to work for.

    Bargain

    It is perfect if you’ve never talked about money before. Generally, an employer’s first offer is the lowest possible, so negotiation is in order. However, this must be done wisely. Your arguments should include market realities. Manage information about salaries in your area. Talk about how you studied the market and realized the actual value of your skills. For companies, it is measured by the amount of money and the benefits new employees bring—a unique combination of skills employers need.

    Think of total compensation, not just salary

    When looking for the best offer, don’t focus only on salary. There are many other reward options. Negotiations can include, for example, one-time bonuses, joining bonuses, and profit sharing (the same percentage of profits for all employees if the company achieves specific goals) if applicable. A standard social package may include payments for kindergarten, compensation for nanny services, sports, training, lunch, a company car, insurance, etc. It might be advantageous for a company to offer something from a social package instead of a raise, so it’s worth asking.

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    Conclusion

    Answering salary expectations is a crucial part of the interview. By answering ideally, you can get a better offer from a company, but your negotiation skills are also an essential part of the interview. Some of us hesitate to talk about salary, but it is nothing to shame you asking for a fair wage for your skills and work experience. Be prepared for your following interview and answer salary expectations confidently. 

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