A professional who I coached shared this with me. While he was being found suitable for multiple jobs on almost all counts he was being rejected in the final interview and he could not figure out the reason. When I analysed his candidature and also his approach during the interviews I found that he was making a common mistake while responding to this tricky interview question – What are your salary expectations? He was always giving a specific salary figure of his expectation as a response.
So what is an effective approach to answer this tricky interview question?
The following 3 steps will help you handle this question effectively:
1] Let employer make first move: Allow the interviewer to make the first move. Let them give you an indication. You can mention something like – You have evaluated my candidature and also you would have your internal grades and scales. You may please let me know where do I fit in? If this approach does not work then follow the next step.
2] A range is better than a specific figure: Offer them a range instead of a specific salary figure of your expectation. While arriving at the range, you need to take into consideration the industry standards, the scale for the kind of role you are being considered for and also your own salary expectation. So if your salary expectation is X and the average salary offered by industry standards is Y, then say something like – I would expect a growth on my current salary of anywhere between A% to B% ( mention the range in terms of percentage growth). Offering a range reflects flexibility on your part and also it leaves room for negotiation. Otherwise a single figure simply leaves the option of either a YES or a NO. It may close doors.
3] Keep your lowest salary expectation in mind: Have a lowest salary figure in mind below which you will not accept and are willing to let go of the job; let us say that figure is Z. Suppose you are offered lower than your expected salary X, see if it is within your lower range and does not go below Z. So your range ( in your own mind ) needs to be from Z to Y.
Importantly, keep in mind that in the end it is not all about money. You got to evaluate the job offer holistically in terms of the job profile as to how enriching it is and how it will help you evolve. Also, take into consideration your current job and career status. These factors when taken into account will help you take a considered decision.
P.S: I am doing a FREE LIVE event on Facebook tomorrow Saturday 20th August at 11 am where I am conducting a FREE live coaching session with one winning participant. You can comment to qualify as a winner. Please click the link of the event to join the event https://fb.me/e/1VzyJ079T
Best!
Sarabjeet Sachar
Seasoned Career Coach, Founder & CEO, Aspiration