Obviously, compensation is important, but there are several parameters that impact job selection including base pay, benefits, the work-life balance, and the potential future career growth. While there is no right answer to this question, you want to be honest, positive, and specific. There are several strategies to use to effectively answer this question. What most people don’t know is that the company’s own answer to the salary expectations question could change as you move through the interview process. Check out reputable sources such as Statistics Canada for federal data on wages in your industry. So I would be willing to negotiate salary if other benefits are also part of the discussion.” 3 EXAMPLE ANSWERS. How to answer “What are your salary expectations?” in an interview. Go to company page IBM. With all that in mind, it’s time to examine what good answers to this question look like. So, preparing for the “What are your salary expectations?” question requires good pre-interview research. Here’s how. You will want to use your own words to answer this type of question, however these examples will provide words to use that may be more effective in answering these difficult questions. In real life, the question of the salary expectations typically comes up in three situations: The job application form. IBM. After all, in some circumstances, the only thing worse than failing to get a job offer after an interview is failing to get an offer that’s sufficient to support you and/or your family. The employer will very likely want a specific number, so another strategy is to give them a number or a range. Frame your needs in a positive manner. Your job in the interview process is to tell a story about how their company or team will be better if they hire you. Provide a salary range I would be expecting at least that and a 15 to 20 percent increase. * Special Tip: If you are not sure how to answer the questions from my list, or experience interview anxiety, have a look at our Interview Success Package. That’s why you should start preparing your “expected salary” answer the moment you apply for the job. But it’s true. By asking what your expectations are and hearing what your answer is, ... “For me, a good compensation is not just about salary but also the option of flexible work. You can try to skirt the question with a broad answer, such as, “My salary expectations are in line with my experience and qualifications.”. Go to company page New Eng. How to bypass the dreaded “Salary Expectations” question on an online job form. To be honest, I have not yet observed the work environment and the challenges I would be facing. Consider the salary and benefits on your job application as an added incentive to work at the company. If you go with this approach, be prepared in case the interviewer presses you for an answer about your compensation expectations. Many organizations won't reveal the salary of the position they're filling. Typically, the value of non-cash compensation will range from 40-60% of the value of the cash compensation, but it can be significantly higher in some cases. Don’t answer. Sounds crazy, right? Before you write an email stating your salary expectations, start by calculating your approximate yearly cost of living, including your rent, bills, and monthly spending money. Now it’s time for the big reveal. You only receive compensation from your employer if you sign an offer letter. The Guide to Salary and Compensation helps you play the compensation game. An hourly wage rate is compensated to the person for the time they spend to complete a work How to answer hourly wage expectations. If the "desired salary" field requires you to enter a figure, however, you have a couple of options. Then, look for a notes section … And that means you need to do your homework. But above all show your confidence and politeness. Formulate your answer by mentioning briefly, the key points that you think important to compensation expectations. SEND PRIVATE MESSAGE. The following resources can help jobseekers and career practitioners successfully navigate compensation discussions that take place during the interview process. in an interview. Join career expert and award-winning author Andrew LaCivita for today's video on the best answer to "What's your expected salary?" Explain that you need to understand the position better, but that you are looking for a competitive offer. Even if your expectations were not met, try to state some positive aspect you gained from the role. Compensation expectations might well come up during the first formal interview — or even during the initial phone vetting. You need to make sure that the compensation offered fits within your expectations, and you can negotiate on the compensation package if the approved budget is a bit on the lower end of your expectations. I would imagine - in this economy - that compensation for employees is a concern of theirs, at least for the time being. This gives you the opportunity to discuss your salary history and expectations later. Viewing compensation discussions as an ongoing relationship not only boosts your self-confidence but it increases the chances you will be paid as well -- or better -- than your peers, safeguarded during a downturn, merger, acquisition or other blitz and better positioned for the future. Research prior to your interview. The best answer to the job interview question "What salary do you need?" I believe that this is what this position is currently going for, and it is the amount I am comfortable with.’. From negotiating an offer to timing the comp Ask, candidates in today’s market still feel anxious when it comes to the money. Plus, you may come across as overly rigid, high maintenance, or even a bit of a pain. This will show that you're willing to negotiate. If you’re too forceful, you effectively shut the door on further negotiations. I am very interested in learning more about what is required in this role so I can estimate a suitable compensation.” How can I answer questions about salary expectations during interviews? An employer who asks about compensation expectations before discussing the job in detail can’t demand a more definite answer.OK, now’s the time to give a number, not a range. Offer a range. 1. I think that I would be a great fit for the role due to my past internship experience and I am expecting a salary within that range.”. Or, “If this is the right job for me, I'm sure we can come to an agreement on salary.”. Asking for another round of interview. If the application won’t accept non-numerical text, then enter “999,” or “000”. Here are the options: 1. How To Answer Salary Questions On Job Applications If it's not a required field on an online form, leave it blank. If you’re asked about salary expectations before you’re ready to answer, it’s okay to ask for more time if you don’t think you know enough about the position or organization. Provide a salary range The employer will very likely want a specific number, so another strategy is to give them a number or a range. The best way to answer desired salary or salary expectations on a job application is to leave the field blank or write ‘Negotiable’ rather than providing a number. If you go with this approach, be prepared in case the interviewer presses you for an answer about your compensation expectations. Don’t be direct about your salary requirement We don’t recommend this approach, but it does sometimes prove successful: don’t directly answer the question. How do you answer, “What are your salary expectations?” Here are three steps you can take to figure out the salary for your next job offer: 1. Compensation expectations might well come up during the first formal interview — or even during the initial phone vetting. sparked. How to Answer Questions About Expectations . The topic of compensation in a job interview process has always been a bit of a fearmonger for legal professionals. But you only get one “get out of jail free” card. Possible Answer #3. Why this answer? Say something like: “I know the average salary for this type of entry-level position is in the $35,000-$40,000 range. At some point, you have to commit. When a hiring manager asks about salary expectations, your answer to should reflect your "ideal salary" and your "walk away rate." The salary expectations answer can be contextual to where you are in your career and what kind of industry you are in. It can also put you in an untenable situation by forcing you to consider a job at a less-than-desirable salary. Q: “What are Your Salary Expectations?” A: #1 - “I was making $60,000 at my last job, plus bonuses. Therefore, I’ll be willing to accept an offer based on this with the right compensation." I received an email from a managing partner of a boutique asking me what my expected compensation would be as an analyst (I received this after interviewing with another partner). Rather than answering the question directly, you could respond with: I would prefer to know more about the job and your expectations of the employee first to give you a realistic number. Get to the point with a statement like this: “I’m currently making $60,000, and I’m looking to make 10% to 15% more.”. Up to 10 premium answers to basically all tricky questions you may face in your Compensation Analyst job interview will help you streamline your interview preparation, outclass your competitors, and eventually get the job. That’s why you should start preparing your “expected salary” answer the moment you apply for the job. 5. Be truthful ; Don’t be tempted to misrepresent your skills, training or experience at your current of previous jobs. “I think this is not the right time for me to answer the question, ‘What are your salary expectations?”. Determine your walk away number and put down a salary 10-15% higher. Answering “what are your salary expectations?” the wrong way can cost you a job offer. Instead of including desired salary information in your cover letter, try to downplay its importance. ‘To answer your question, I am looking for a position that pays somewhere between $60,000 to $65,000 annually. Employees working on an hourly basis cannot determine their monthly payroll in order to know how much can they spend every month How to answer hourly wage expectations. By giving an honest, informed response, you can help the interviewer better understand whether your expectations align and, if things go well, what sort of salary will be attractive enough to get you on board. If you need to provide a salary expectation with your resume or answer this question on the job application form, it’s best to write in a desired salary range if the question is mandatory. There are ways to get around this question, if you really don’t want to give a number right off the bat. Nope just say something like “I’d like to get through the interview process so I have a better understanding on the job role and expectations before I can provide any expected comp information”. When asked about specific salary expectations, you can provide a range that is in line with market expectations. … If you go with this approach, be prepared in case the interviewer presses you for an answer about your compensation expectations. MIKE'S TIP: When you’re figuring out how to answer salary expectations questions, don’t assume that demanding a particular salary makes you seem confident. The Bottom Line. One frequent predicament that arises is how to handle the “What are your compensation expectations?” question. pqbduwo. Assuming your target salary is … How to answer 'What are your salary expectations?' The following are steps you can take to most appropriately answer this interview question: Research the salary for the position. Approach 1: Provide a Realistic Salary Range. Your website mentions childcare benefits, which signals to me that this is a company that values working parents, which is definitely important to me, and I could be a bit flexible with salary for the right fit.” Employers ask you about desired compensation during an interview so they can get a feel if your answer aligns with their expectations for the position. What should I put for expected salary on a job application is a question that many job seekers wrestle with each time they apply for a job. Say you’re flexible. Feb 20, 2019 9. Any hiring person urging you to tell a figure. Here we have advantages and disadvantages of hourly rate wage. Your desired compensation takes into account the total value of any financial benefits; this includes your base salary and non-cash compensation, such as benefits, vacation, stock-options, health insurance, stipend, 401k, etc. Example Answers to “What Are Your Salary Expectations”. Top Answer. Some senior professionals know what their market value is and have strong opinions about what their base pay needs to be in order for them to take the job, Dixon said.
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