What Are Your Salary Expectations? Tips You Need Before Answering
2 years ago
A time-honored interview question that employers ask job seekers is "what are your salary expectations?" And while it's a difficult question to answer, and you might not know for sure what the employer is willing to offer you, there are some ways to go about figuring it out.
Rely On Reliable Indicators
Rather than remaining vague in the face of this question, the best thing is to prepare for it by crossing the different salary studies. They are available in the press, on the websites of recruitment agencies but also from your former school. Business or engineering schools, as well as universities, make reliable remuneration grids from the salaries of their former students.
Be careful to check which components of remuneration these studies take into account. In a large company, a global package usually includes a fixed part over 12 or 13 months or more and a variable part for business functions. This remuneration can be supplemented by a profit-benefit, participation, a company savings plan as well as other benefits such as a vehicle.
Job boards, forums, and social networks are also serious sources that you can refer to. Just like the career sites of companies that allow candidates to compare their profile with those employed by the company.
Calculate your salary expectations upfront
Research what your skills are worth in the market. Conduct online research on the average salary and benefits given to someone with your skills. Use a site like Salary.com or PayScale to find out how much the employers within your field typically pay a candidate with your qualifications.
Determine if you're willing to compromise on your salary expectations based on factors like geographic location, the company's financial status, and whether it is a startup or established firm.
Know that your salary expectations will vary based on the employer's financial situation and if it is established or a startup. Are the potential candidates for the job a group of new graduates with relatively low salaries, or someone in a senior executive position who needs to make a few million dollars?
Also know that you may be able to negotiate additional benefits like medical insurance, or other perks such as 401(k) matching or stock options, as long as they do not conflict with the salary range you have determined.
Know that if you have a specific job title that you are interested in, there is usually a range of salary expectations for particular titles. If you're thinking about being the CEO of your own business, be sure to look at the average salaries received by CEOs of successful companies in your field to see what salary range is typical.
Remember that some companies won't offer you a salary until they hire someone to fill the position.
Once you have opened the salary discussion with the recruiter, you have several options:
If The Remuneration Offered By The Recruiter Suits You
You can accept it immediately. But you can also try to negotiate more by not pronouncing yourself right away. You can come back to it later, during a future interview. One of the most common mistakes is to believe that you have to accept the first number that is offered during a negotiation... For fear of seeing the possibility of obtaining the job sought to disappear. This figure is a starting point
If The Amount Offered Does Not Suit You
Or you understand that the recruiter does not intend to offer you more, do not go to great hard either. The best attitude, according to specialists, is to continue the discussion on something else. By continuing, for example, with: 'can we go back to the post?' by doing so, you generate the need in your interlocutor, he says. You multiply your chances of being retained. You will be able to return to the charge after for the salary.