How to Address Your Salary Expectations.

How to Address Your Salary Expectations.

What is the first thing that comes to mind when you are asked,  What is your salary expectation? A number or a figure that’s on your mind from the moment you got an interview call. Fobza Jobs advises, don’t reveal it out. Do not make the mistake of quoting a number without understanding what the interviewer has in mind. Be careful while answering this one. As much as the interviewer seems cheerful, she/he is also interested to know if their company can actually ‘afford’ you. You are standing just a step short of getting hired. So play this question smartly.

The finest approach to answer the question of salary in an interview is never to be direct or specific. The idea behind this tactic is to gather as much information as possible about the job responsibilities and the benefits that are attached to it before you jump into the negotiation. Be polite in your answer and try to throw the ball into the interviewer’s court. You should always try to find out more about the job, what it involves, and what number or salary range the interviewer could offer for this position. It’s a hard topic to discuss if you haven’t already thought about your answer and taken the necessary steps to prepare.

 Tips That Fobza Jobs Provides You to Address Your Salary Expectations:

  1. Decide How Much You Need.

Firstly, you need to decide how much you need day-to-day. That means working out your monthly expenses from rent and bills to commuting and lifestyle habits. This is particularly important if this new job is in a different location to your current role, as your travel costs may increase.

  1. Find Out Average Salaries In Your Location.

While it’s helpful to working out what you’re worth regarding your experience and level, you also need to find out the average salaries in your location.

You’re probably already aware that a job in Abroad is likely to pay more than a job in India, purely because of the astronomically high living costs in the area. This also applies to more localized areas, so while you’re using job boards and Pay Scale to determine your worth, check out average salaries in your locations, too.

  1. Ask What The Salary Bracket Is.

Even if you find uncomfortable to discuss about salary, it’s important to try and find out what the salary bracket is for the job in question for two main reasons.

Firstly, if you don’t know what the range is, you’re more likely to sell yourself short and miss out financially, or push too high and lose the job offer.

Secondly, asking for the salary bracket is something you can fall back on if the employer pushes you hard for your salary requirements.For example, if you’ve already said you want to discuss the duties and responsibilities first, you can always expand to say: “I would hope you have an idea of what this role is worth to the company and what you have budgeted for this position. Therefore, a salary bracket would be useful to know.”

  1. Say You Are Adjustable.

You can try to pass around the question with a broad answer, such as, “My salary expectations are in line with my experience and qualifications.” Or, “If this is the right job for me, I am sure we can come to an agreement on salary.” This will show that you are adjustable.

  1. Be Authentic.

More than anything, it’s important that you’re authentic with the number you want. However, it’s also worth thinking about a best and worst case scenario. For example, what number would make you say yes immediately and what would you walk away from?

Also, think about what you would negotiate. For example, if they can’t offer the base salary you want, are they willing to make up the extra in bonuses, work perks or annual leave?

  1. Think About Your Current Salary.

Along with researching salaries, another way to come up with a salary range is to think of your current or previous salary, especially if you are making a lateral move in the same industry. Unless your last company was known in the industry for its low salaries, assume that your current salary is in line with market expectations. Of course, if you are making a geographic move, keep in mind any changes in the cost of living.

  1. Give Yourself A Raise.

What if you believe it’s time for a raise? Think about what you would consider a fair raise from your current employer and that could be a good low-end starting point for the new job. Or round up your current pay by as much as 15 to 20 percent, which gives you an incentive to switch companies and is still within a reasonable range for your industry and level of experience.

  1. Only Give Numbers You would Be Happy With.

Remember, only offer a range that you find acceptable and gives you the means to support yourself and your family if you have one.

  1. Highlight Your Skills.

In your answer, you can brightly highlight why you are a good fit for this position. You can say something like, “Based on my 10 years of experience in this field, I would expect a salary in the range of Rs.XX –Rs. YY” Before mentioning any numbers, remind the interviewer why he or she should offer you a salary in the first place.

  1. Provide A Range.

Instead of coming up with a hard number, look at what you’re making right now and what other professionals are making in your line of work and find a range that works for you. Make sure that whatever range you come up with that you will be happy with the low end. Understand that if you offer a range, they will usually choose the low end of the range in their initial offer, so maybe bump up the range a bit. For example, in this situation, the range could be Rs.20,000 to Rs.22,000. Unless you are very experienced (years in the job, working very successfully), do not expect to be offered the top of the range.

  1. Explain Your Reasoning.
    While you don’t need to get too detailed in explaining how you arrived at your salary expectations, it doesn’t hurt to share why you’re giving the number. Highlighting your experience or educational level can add additional justification for your salary, especially if you’re aiming for the higher end of the local average. Just be careful not to overshoot the amount too much or you could be considered overqualified.
  2. Deflect The Question.

If you’re still early in the hiring process and still learning the specifics about the job duties and expectations, you may want to deflect the question for later in the conversation. However, keep in mind you’ll still eventually have to discuss salary expectations. Either way, it’s a good idea to be prepared with a well-researched number in mind—even if you’re still factoring in additional information.

Rather than answering the question directly, you could respond with :

I would prefer to know more about the job and your expectations of the employee first to give you a realistic number.

If you go with this approach, be prepared in case the interviewer presses you for an answer about your salary expectations.

Fobza Jobs Provides You Some Sample Answers:

  • My salary range is quite flexible. I would, of course, like to be compensated fairly for my decade of experience and award-winning sales record. However, I am very open to discussing specific numbers once we have discussed the details of the position.
  • My salary requirements are flexible, but I do have significant experience in the field that I believe it would add to my candidacy. I look forward to discussing in more detail what my responsibilities at this company would be. From there, we can determine a fair salary for the position.
  • I would need to learn more about the specific duties required of this position, which I look forward to learning more about in this interview. However, I do understand that positions similar to this one pay in the range of Rs.X to Rs.Y in our region. With my experience, skills, and certifications, I would expect to receive something in the range of Rs.Y to Rs.Z.
  • I am open to discussing what you believe to be a fair salary for my position. However, based on my previous salary, my knowledge of the industry, and my understanding of this geographic area, I would expect a salary in the general range of Rs.X to Rs.Y. Again, I am very open to discussing these numbers with you.
  • I would like to understand the job position and the expected responsibilities better. I would also like to know what is expected from me while I work here. As I have been working in a similar position for the past few months, I can gauge what my worth is. It is obvious that a person working in this position has a bigger role to play. I certainly believe that I would be offered important tasks. Then we can settle down on a certain figure later, I hope.
  • What I believe is that the job position will be a huge career upgrade for me. I have worked hard for many years to reach where I am right now. I am certainly looking forward to working with your esteemed organization. This can be a new milestone for me. As you know, the responsibilities I would be given here are much bigger and tougher. I would face entirely new challenges. At this point, I cannot come up with a fixed amount. I hope that after interacting with the members of my future team later today, I will be able to answer your question better.
  • I think this is not the right time for me to answer the question, ‘What are your salary expectations?”. To be honest, I have not yet observed the work environment and the challenges I would be facing. Before we can discuss salary, I need to dig deep into the sort of responsibilities I might face. I can do that only when I speak to the Manager of the prospective team. Hence, I would like to have a Managerial round of interview first. Once that is done, I will have some more information about the type of tasks I would be assigned. Nevertheless, you can also help me know what budget has been decided for this position. The figure can help me get a better idea about what I should be expecting. So, we can postpone this discussion until I have the requisite information on my plate.
  • I would like to know what you were previously paying to the employee who was in this job role. Were his/her qualifications and experience similar to me? This data can help me determine a particular number. I know this position will offer a lot of opportunities and I am aware of the fact that this organization will offer me with ample growth too. So, I do not believe that estimating a particular amount right now, would be wise on my part. I just want to work my way ahead and maybe in a day or two, we can agree on a mutual figure.
  • I am here for the interview today because this job looks promising and exciting to me. I see myself progressing in the corporate world while working for your esteemed organization. The work atmosphere here is different from what I have experienced in the past. Money is surely an important aspect but the primary thing for me is to settle down here as soon as I can. The quicker I adapt to this environment, the better it would be for me. Until then it would be disrespectful to the job position if I randomly guess an amount.
  • All I am looking for a job position which can help me to grow my skills. I have longed for a job position like this one, where I can learn more and more every day. After all, I have worked hard to obtain my current position. This company suits my needs. Here I can utilize my abilities to the fullest. So the package I am will be getting here does not matter much. I would accept anything that is at par with market standards as well as remains suitable for my job level. You can fix this down as my final expectation.
  • As I am just starting my career, it would be difficult for me to figure out a particular package or take home salary now. I haven’t got any experience about how to answer this question. What I am looking forward to is building a career in the field I love. These are my initial years in the corporate world. I want to extend the reach of my knowledge and also my skills. Yours is a great organization and I am certain that you pay your fresher’s well. You can offer me a package that would suits a beginner like me. You must have got a few on board already. What do you pay them? May I know the sum? In the end, what matters to me is what I get to learn.
  • I came here with only one expectation. The job! This position is a reward for the efforts I have put into my entire career till date. I have paved way step by step up to this point. As I look forward, I can see myself working for this organization. It would be a nice to face new challenges daily. As far as the salary is concerned, I know we would agree on a figure mutually later. Depending upon the role I have to play here, the package can be decided, right? We could negotiate to a certain sum according to the budget decided for this position. For what matters now is the mutual growth of this company and my career.
  • Being relatively less experienced, I see myself in no position to demand any certain package. To tell you the truth, I am here for the job as it interests me the most. What money I make from it comes far after. During my internship, I always hoped that a respected organization has something for me to offer. I feel that the opportunity is in front of me now. It is the time to pounce on it. As for the salary, whatever package range that has been allotted to this job would do for me. I would leave my answer up to you. Maybe you can respond to this better than me.

When an interviewer asks about your salary expectations, having a well-formulated, data-backed answer will ensure you’re not undercutting yourself or aiming over the market value. By giving an honest, informed response, you can help the interviewer better understand whether your expectations align and, if things go well, what sort of salary will be attractive enough to get you on board.

Remember,  that your interviewer has vast experience about how to handle his/her response to your retort. Even though you sound diplomatic while coming up with a good answer, s/he will guess what is exactly on your mind. The above-mentioned answers of Fobza Jobs can help you to craft a decent response. As long as you sound natural and tackle the question, ‘what are your salary expectations?’ well, your resume will not be seen negatively.

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