One of the most dreaded questions during the interview process can give even the most seasoned job seeker anxiety, “What are your salary expectations?” Addressing salary expectations is not as difficult as you might think if you proactively take steps before the interview and approach the situation positively and confidently.
There’s no one way to answer the question. Every interview situation will be different, and the amount of information you have will vary. However, there are several steps you can take before the interview to prepare yourself for answering the question.
Do Your Research
The first step is to research the salary range for the role. There are several factors to consider: what the job market is like for this role, where it is located, what stage the company is in, etc. Several websites can help with this, including Glassdoor, Payscale, Fishbowl, levels.fyi, and others.
Know Your Value
Just as you need to research the market, you must spend time reviewing yourself and the value you provide to an employer. You don’t want to undervalue yourself, but at the same time, you don’t want to have unrealistic expectations on the high end, either by being prepared with quantifiable examples that demonstrate your success and how that applies to this role.
According to Career Coach Kolby Goodman in a recent Forbes article, “The salary your next employer is willing to pay you is in direct correlation to the kind of impact they think you’re going to be able to make.”
Consider Your Wants and Needs
When it comes time to answer the question in an interview, be prepared to explore other aspects of the offer that are important to you. It’s not just about the base salary. For example, you can ask about the compensation structure. Is there a bonus structure, stock options, equity, or RSUs? You can also ask about other benefits that may impact your situation. Beyond insurance, what is their 401K policy? How is time off determined? Do they cover your cell phone or wifi if you work remotely? Is there a wellness stipend? Do they provide childcare assistance? These are just a few benefit options that can impact your salary.
Practice Redirecting
Preparing in advance also includes deflecting the question. Avoid making a generic statement like, “my expectations are negotiable.” Also, more states are enacting pay transparency laws. These laws may require them to disclose the pay range and restrict them from asking about your past wages. According to the article, here are some suggestions for redirecting the question:
- Thank you for bringing this question up. I’d love to know the approved salary range for this role.
- Thanks, I appreciate your question about my salary expectations. To ensure we’re aligned, could you please provide the salary range you’re considering for this position?
- Thank you for asking. I want to understand how my experience and skills align with your compensation structure. Please outline the salary range or budget this role falls within.
Be Professional
While the question may give rise to anxiety, keep your tone and manner professional. If you accept the job, how you negotiate your salary is an indicator to the company of how you’ll negotiate on their behalf. Be respectful, polite, curious, and confident.
Provide a Range if Pressed
If you feel backed into a corner and compelled to provide an answer, always reply with a range and not a number. Use your research to give a fair range that is slightly higher than your target salary. And don’t share prior salaries. Those are not relevant to the role you’re interviewing for. A sample response could be, “At this point, I’m not comfortable sharing my previous salary, but I’m more than willing to discuss my salary expectations for this role, considering its responsibilities and industry standards regarding my experience and skill set.”
You have a unique background and skill set, and are the best person to advocate for you. You can handle the question with aplomb through your preparation and confidence in your abilities.
For more hiring and Human Resources articles, please visit our blog.