Salary Expectations
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It is impossible to avoid salary expectations questions before accepting an offer. But you can prepare for it. Consequently, you can stand out as more informed and flexible.
Overview
The question may put a smile on most people’s faces. Let’s admit it, sometimes the paycheck matters. However, it is vital to be overjoyed because you are not hired yet. Therefore, answer the question formally and in a precise way to make a good impression. It is always better to postpone the salary discussion until you have turned up for a face-to-face interview. Here you have the opportunity to explain what you can bring to the table and what you expect from the job.
However, in some cases, the company may make it mandatory to indicate salary expectations in your application. Therefore you need to know how to write salary expectations in letters—learning what to say and what not to say is key to a job offer in terms of the salary standards. Read on how to tackle the application question about salary.
Why does the interviewer ask about your salary expectations?
Employers have a budget: When an interviewer asks you about your pay expectations, this is typically for three purposes: The employer would like to ensure that the salary expectations suit their budget. When most candidates ask for much more than planned, it will mean a higher budget for the position.
They want to know how well you are conscious of your worth. A viable candidate knows how much his/her skills on the market are worth and can dare to share—factor in your rank, years of experience and career accomplishments to assess acceptable market value.
Assess your level of professional experience. An applicant who is seeking substantially more pay than other candidates can be too experienced. In other words, it could mean that you are less experienced if your salary expectation is at the lower end.
The start of the wage negotiation process can be the answer to a salary question. Make sure you give sound responses.
Formulation of salary expectations
It is important to formulate salary correctly based on reliable data, and not just the salary you desire. Show your potential boss that you are eager to learn more about the job and get the compensation you think you deserve. Luckily, finding information on salary expectations is simpler than ever. It is essential to do an online search on salary websites like Salary.com, which hopefully will guide you on salary concept formation.
Note that salaries not only differ by occupation and company level but location too—factor in the cost of living in the area. For instance, jobs in large cities are more likely to be better paid than in smaller towns. Also, focus on the market value of your position. However, these are not the only factors you should consider to write down your salary expectations correctly.Your expectations of compensation will also relate to your level of experience, academic /professional background and other skills.
How do I write my salary expectations in an application?
When writing the desired salary expectations in a salary application, it is advisable to leave the field blank and write “negotiable”. If the form does not accept non-numeric text, specify salary expectations such as “999,999” tentatively. It is critical to wait until you are confident that the company is offering you a job before revealing salary expectations. Sharing your desired salary during an application may cost you a job and a couple of dollars.
A few employers may ask what you think about a specific salary range. If you have to specify salary expectations in the cover letter or answer a question on the application form, indicate your desired salary range in the way. Manage the stress by figuring out proper answers to salary questions in advance. It is especially tricky to know exactly what to say when the interviewer asks you during a job interview or via a phone call.
How to answer a salary expectation question in an interview.
It doesn’t matter whether the position is temporary or full-time. The interview is an excellent opportunity to convince the HR manager that you are earning top dollar. The employer can toss the question during a telephone interview or face to face session. Nevertheless, in the first telephone interview, you are not obliged to talk about your salaries until the recruiter mentions it. You may want to explore the opportunity more before you discuss the salary.
Feel comfortable based on the research results and prepare in advance before you go to the interview. If the interviewer insists you give him your salary range, don’t be nervous or evasive. Instead of saying a specific figure, its best practice to tell a broad scale, so there’s more room for negotiation. You can’t squander your chance to make a lot of money. Research shows that only 38% of workers want to negotiate, even if it is to earn less than they are worth.
In normal conditions, the interviewer starts at the minimum salary that can meet your proposed selection. They may resort to negotiations if your expectations do not match. Pay negotiations are successful if both the employer and employee are positive. You may discover that you have other benefits, bonuses and perks to discuss. The salary negotiation with the candidate should begin when an employer is willing to offer you the job, not after you have accepted it.
Salary Expectation Do’s and Don’ts
Discussing salary expectations with an interviewer may feel uncomfortable, mainly if you are not used to the question. Perhaps you are talking about your ideal remuneration for the first time. For a simple discussion and to ensure that you earn a reasonable salary, here are a few more hints:
To start with, avoid responding with a specific number but keep it within the range of market value, i.e. from XX to YY. Monetary aspects should always stay at market value under any circumstance.
Secondly, you can ruin your chances if you reply with an expectation that’s too low or one that overestimates your value. Too little will lower your worth. A high amount may force the company to settle for a more economical candidate for the role. Your response mustn’t give the interviewer the perception that your focus is solely monetary. Assert how salary is not your main priority and highlight your interest in the company, professional development and work quality.
Third, confidence is critical. Be assured that other employers are interested in your answers and delivery. When you feel confident and secure, employers will realize that you know your value and might not settle for less. Don’t trade yourself short to move on; otherwise, you might get too little.
Lastly, clarify your rationale. Although it is not appropriate to describe in too much detail about how you came to your salary expectations, it does not hurt to share the criteria. If you target above the local average, your experience or level of education will provide legitimacy for your salary. Take note that you do not surpass the amount or overestimate the amount.
Sample answers on Salary Expectations.
A salary is a compensation element. HR will try to convince you to accept less compensation. The questions about salary requirements can be posed at various times during a conversation, and everyone can answer differently. The key is clarity and honesty. Some sample answers are as follows:
Example 1
For starters reiterating your enthusiasm for professional development and why you are the ideal candidate is paramount:
“Since I am a new entrant, I give top priority to professional growth. Salary is not a huge concern for me, and I would accept what the company offers for this role”.
Example 2
If you are a senior who has a wealth of professional experience, it is essential to mention the skills and then list the numbers. Remind the recruiter before asking some amount why he/she should give you the salary:
“Based on my years of experience in the field. I will consider a salary in the range of XXX-YYY”.
Example 3
it is necessary to write a summary of a discussion by leaving your options open to show flexibility:
“My pay demands are not enormous and are in line with my education and work experience. If you offer me this great job, I’m ready to accept payments in a range of XXX-YYY. We will also negotiate the pay agreement if you allow me.”
Conclusion
We hope all the above illustrations will benefit you when responding to a salary request. The question might be quite straightforward, but it can ruin all your previous milestones. The bottom line is, do your homework and understand your market worth before the interview. Make the correct impression by showing interest in the position rather than just salary.
There are lots of online resources that can offer useful knowledge on how to respond to a salary request. Search for a salary negotiation email sample, salary statement application sample or a letter of application with salary presentation.
Sources
https://franklinsmithgroup.co.nz/how-to-answer-the-dreaded-salary-expectations-question/