Every question posed during an interview carries weight. Your responses are scrutinized by interviewers to assess your suitability for the role and your potential contribution to their organization. Hence, candidates often seek strategies to adeptly answer commonly asked interview questions.
However, not every query comes with a straightforward answer. Some questions can be uncomfortable, leaving you grappling with how to respond honestly without jeopardizing your chances. One such challenging inquiry is, “What is your desired salary?”
This question typically arises towards the end of the interview or on job application forms, causing many to feel uneasy about providing a figure. It’s a delicate matter that requires careful consideration to avoid underselling or overestimating your worth.
If you’re seeking guidance on navigating this tricky question, you’re in the right place. We’re here to offer some insightful approaches to help you craft a suitable response. But before delving into strategies, let’s examine a few pertinent facts to better inform your answer.
Why Do Employers Ask About Your Desired Salary?
People often this question as they can’t find a suitable reason behind asking this question.
First of all the need to see what are your expectations for the salary and if it fits their hiring budget. The number provided by the candidate would help them to calibrate the budget for the role internally. This would also make them know whether the candidate is at the right seniority level for the position.
If the number is too high, then they might try to negotiate and see whether or not they can provide you your desired salary.
It is after all an important question for both parties. So a candidate must answer rationally and reasonably. This what makes it a difficult question because not everyone knows how to answer these questions and what number they should say in the first place.
Well, we are going to provide you the answer to your question in two steps. In step one, we would tell you how you can analyze the right salary for your position, and in step two we would tell you how to answer this question.
Contents
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How to Determine the Reasonable Salary for Your Position?
1. Research the position
Research is one of the crucial things that you need to do if you want a fair salary for your work. Before you go for your interview, you should learn more about the reasonable salary for the position you are applying for. You should also see the value of the company you are going to work for.
You should also check the work, job responsibilities, and the associated benefits of the job that you might do.
Learn the average salary for the job, and the average salary in the locality you would be working in. With all this information, you should be coming up with a reasonable number.
2. Consider the Lifestyle and Expenses
To come up with a fair number for your salary, you should also weigh in the lifestyle and the expenses you would be paying in the area of your job. Which includes your monthly bills and expenses of other necessities.
3. Weigh in Your Education Qualification and Experience
You should also see what’s your time and energy worth given your education qualifications and experience. This included the institution you have got a degree from and the number of years you have experience of.
How to Answer Desired Salary Question?
1. Set a Range for Your Salary
The first thing you need to do is to come up with a salary that is rational and reasonable. After that, you need to maximize the number and set a range that you would accept. Providing a range would give flexibility to you and your employer. Since they would always negotiate the salary with the employee it would be better if you provide a number higher than what you are actually want to work for.
2. Negotiate
Negotiation is the key. No one would hand you the salary you have asked for and they would also try to give you as low as they can. But since it’s a two-way street, you have to negotiate the offer and try to come up with a number that would be acceptable to both parties.
Since you are negotiating, you should also negotiate the perks other than the salary. The other benefits and perks include student loans, equity, stocks, holidays, leaves, etc. With your research for the job you are applying for, you would be able to come up with reasonable perks and extra benefits for the job too.
3. Deflect the Question If You are Still in Hiring Process
You may wall deflect the question altogether if you are still in the hiring process. You should also avoid the question if you haven’t done full research. Although keep in mind that you do have to answer this question and discuss all these things, so it would be better if you are prepared for the questions.
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4. Be Confident
You must remain calm and confident while answering this question. You have to keep in mind that you deserve this salary and that you have worked hard to get where you are. So don’t hesitate to aim high and negotiate to end up with a better number as well.
Conclusion
Navigating the “desired salary” question can indeed be uncomfortable or awkward. However, it’s crucial to remember that nobody wants to accept a salary lower than their expectations. Therefore, it’s essential to communicate your salary expectations to prospective employers.
To handle this situation effectively, thorough research is key. Understanding industry standards, the company’s financial health, and the specific role’s responsibilities can help you determine a reasonable salary range. By presenting a figure based on solid research and ensuring it aligns with your skills and experience, you demonstrate professionalism and value to the employer.
