If there is one question that is awkward, then it is about your salary expectations. Telling the hiring managers what salary you expect can be quite tricky. Neither can you go above the upper limit because that might come back to haunt you as the recruiters will prefer candidates whom they believe will be satisfied with the salary the company is offering nor can you sell yourself short because the recruiters might think that if you don’t think of yourself as worthy enough of a better salary then maybe you are not.
Also, if you do mention a relatively low figure just to get the job then chances are that you will be paid that salary. This will prove detrimental in the long run. You don’t want a job that offers little monetary compensation, do you?
So, what should you do?
Although, it seems as though you will be at the receiving end whatever you state your salary expectations to be but there is indeed something that you can do to tackle the question of salary expectations and in turn get yourself a good deal.
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Strategy to Answer Salary Expectations:
It is essential that you first understand that you might be out of the contention for the job if you state your salary expectation either too high or too low. Hence, it is of utmost importance that you figure out what is the average salary range of the particular company you are applying to before you even apply.
- Do your research on the salaries offered by the company. It may be useful to visit websites like glassdoor.com, payscale.com, and salary.com so that you have a general idea moving forward.
- Connect with some people working in the company that you are applying to. If you already know some people working there, then that’s great. If not, then seek out individuals through networking on LinkedIn or in person, whatever works for you, so that you have an estimate of the salary range.
- Take into account the market salary range for the current position as in what other companies in the same industry, size, and location are paying to their employees for a relatively similar position to which you have applied.
- Consider your own experience, skill-level, achievements, and current salary (if applicable) to come up with a salary range that you think will be the right match for you.
If you do have higher salary expectations then there is nothing wrong in saying so. But remember that you will have to prove your worth. Keep that in mind. While companies do have a set budget for salaries they can decide to pay you higher if they think that you deserve it.
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Consequently, it is vital that you have a concise and well-formulated answer to the question “What are your salary expectations” before you go for an interview. Have a specific salary range in your mind that is backed by thorough research. Present your answer in a confident manner and state that you are open to negotiation. This will help you easily tackle the question on salary expectations.
Fahad Aslam is an engineer by profession but a writer by passion. He helps people developing their secondary stream of income through internet. You can meet him at Facebook.