One question that makes most professionals tongue-tied in an interview is ‘the Big Salary question’…or something on similar lines. It makes them cringe with awkwardness. They don’t want to be the first person to cite a figure. They fear if it’s too low, they might miss out on the big bucks. And if it’s too high, they could possibly miss out on the job offer!
We all want to be candid and forthcoming in an interview. So when the question “What is your salary expectation?” comes up, it’s tempting to simply quote a number and move forward. But a delicate issue like this if not handled well can leave both you and your interviewer squirming in your chairs.
So let’s see how you can strike a fine balance between overselling and underselling yourself!
In a lot of cases, employers use the salary question as a shortlisting tactic. And only if they feel that you and the company are in the same ballpark, they choose you for a preliminary round. In such cases, you should bite the bullet early on and tell the reality. If you’ve done your research well, you should have a fair idea of the typical salary range for somebody with your kind of experience. Many a times, a lot of people shy away from talking money. But you need to tell them what your expectations are and not waste your time with lower paid jobs.
Don’t be caught unprepared:
If you’re caught unprepared in a situation like this, you jeopardize telling a figure that you’ll later feel was either too low or unrealistically too high. Therefore before any interview, invest time and do ample research. A lot of salary websites can give you a fair idea of reasonable benchmarks but they won’t be as exact as you want them to be because facts and figures vary notably. You can get a far more accurate idea by merely bouncing of figures with other people in your domain or by talking to professionals in your industry or network.
Stay candid:
You might be tempted to fib about your salary but potential employers can and probably will find out your exact salary while doing reference checks. So it’s extremely vital to be honest and not lie about your salary history. If you feel you deserve a higher compensation than what is being proposed, assertively and courteously elucidate why you are worthy of more. And if an employer feels you actually deserve a higher pay scale, then they will gladly accommodate you and if they don’t, you possibly don’t want to work there anyways.
The clincher: “What is your salary expectation?”
While answering this question, don’t make the irrevocable mistake of quoting a figure without having an idea of what the recruiter has in mind. One approach to evade giving an answer right away is to reply that you’d want to learn more about the role and its responsibilities before quoting a figure. There are other ways of deflecting the question as well. You can tell the recruiter that you are actually open to their thoughts, hoping that they are in sync with the market. Do this in a very ‘upbeat’ way. Smile and nod while you are at it. This will show that you are assuming the answer you want is coming back to you which will further increase the chance of the other person giving you what you want.
The unnerving one: Are you willing to settle for a lower pay?
Don’t get edgy as soon as you hear the words “less pay”! Maybe it’s just a litmus test that your employers want you to pass through. Discuss about how salary isn’t the only facet of a job that captivates you and that you are open to choices depending on what those other aspects are which make the job so tempting that you are ok to compromise on the salary part. If the work is less taxing, offers more flexibility and higher career growth then it is possibly worth a thought. However, do establish your minimum range while answering this question and ask them for more details about both the job and the remuneration.
The right time to boost your salary for a new job is once you actually receive an offer. Many candidates slip up by making demands even before the company is sold on them. So be patient and sound reasonable. All situations are unique and only your preparation can allow you to handle them gracefully. Take some time in advance to make a list of your entire compensation including things like reimbursements, stock options and health insurance. While you want to stay flexible and welcoming, you do not want to diminish what you bring to a new role.
In our bag of tricks, there is no question MORE crucial than the desired salary question. While most people prefer upgrading their salary with every new job, not all new positions essentially warrant a salary rise! So convince your recruiter that although the salary is essential, it is the job that you are most concerned with. Instead of simply shouting out the first figure that comes to your mind, take time to explain why they should shell out premium dollars for your experience and expertise. However, do this without influencing them that they can’t actually afford you!
