Answering questions about your salary expectations can be tricky since you don’t want to risk scaring off a potential employer by throwing out an outrageously high number, but you also don’t want to undersell yourself. So how do you navigate this question confidently and find a sweet spot that works for both you and the employer? Here’s everything you need to know about tackling the salary expectations question in a job interview.
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Why Do Companies Ask About Your Salary Expectations?
Employers ask about your salary expectations to gauge whether your compensation expectations align with their budget for the position.
Alisa Cohen, managing partner and principal executive coach with Close Cohen Career Consulting says, “Salary questions are often designed to screen candidates out. If you share overly specific compensation information too early and it doesn’t fit the employer’s range (either too high or too low), you risk being eliminated as a candidate.”
So, when the hiring manager or interviewer asks about your salary expectations, think before you speak rather than winging it. Because once you share your specific salary expectations, you immediately set the bar for your future negotiation.
[See: The 25 Best Jobs of 2023.]
3 Ways to Answer Questions About Your Salary Expectations
Answering questions about salary expectations can feel awkward, but it doesn’t have to be. Here are three ways to confidently discuss money in an interview and land a job that pays you what you’re worth.
1. Answer Honestly
If you’re still early in the interview process and don’t know much about the job expectations yet, be honest and deflect questions about money until later. Cohen says, “Interviewers often ask salary expectations early on to pigeonhole you into a lower number. Don’t fall for this trap. Instead, say that you need to learn more about the role first.”
To delay answering the question, you could say:
— “Thank you so much for asking. I prefer learning more about this role and its responsibilities before giving you an informed number. Could you share more of what the position entails?”
— “Finding the right position is more important for me right now than the salary. Before discussing numbers, I’d love to learn more about the company, the role and the benefits package.”
2. Ask What the Company Has Budgeted
If the interviewer continues to press you for a number, ask them what their budget is for the role. By doing so, Cohen says, “You put the onus on them to come up with a number and can know upfront what range you are looking at without giving a number yourself.”
— “Do you mind sharing with me your budget for the role? I can let you know if it’s in my ballpark.”
— “I’m happy to share my salary expectations as we get further along in the process, but I’d love to learn more about what the salary range looks like for this position.”
3. Give a Higher Range
If you’re going back and forth with the interviewer and they’re refusing to share their budget without hearing your salary expectations first, Cohen recommends giving them a range based on your market research that’s on the higher end. But be sure to emphasize that you’re flexible and open to negotiation. Or else the interviewer may screen you out and consider you “too expensive” for the role.
Here are examples of what you could say:
— “I’m looking for something in the $85,000 to $100,000 range, but this could change based on what I learn about the role.”
— “I believe an annual salary between $70,000 and $80,000 reflects my skills and experience level. However, I’m flexible and open to hearing your budget.”
[See: 25 Best Jobs That Pay $100K.]
Tips for Negotiating Your Salary Like a Pro
If you’re not prepared, discussing your salary expectations in a job interview can make you stumble over your words. Here’s how to discuss money like a pro.
1. Do Your Research Before You Start Interviewing
Don’t wait until you’ve received an offer to start negotiating your salary
. Know your market value from the jump. Remember, interviewing for a job is a negotiation – from the first conversation to the last. If you want to be paid what you’re worth, you need to know your market value before stepping into the interview room.
So, before you start interviewing, do your research. Lauren Hasson, founder of DevelopHer — a platform that helps women in male-dominated industries take control of their careers — says, “When you gather your market data, make sure to get it from multiple sources, such as salary databases, salary calculators, research reports, colleagues and more. The more data points you have, the more accurate your information will be.”
2. Identify Points of Leverage
By identifying your points of leverage in the interview process, such as how you uniquely solve an employer’s problem, you’ll have the upper hand when negotiating your salary and locking in a premium offer. For example, if you know the employer is urgently hiring someone to fill in a role that requires specialized skills, or if the candidate pool is small, you’ll have more leverage when negotiating a premium salary offer.
This strategy has personally worked for Hasson. She says, “I’ve negotiated a base salary up $50,000 before because I realized they needed to hire someone immediately, they didn’t have any backup candidates and my skills were unique. I’ve done this multiple times. Look for where you have leverage and dig into it to negotiate a premium salary.”
3. Defer Compensation Conversations
Always defer compensation conversations to the latest stage possible when interviewing for a role. Cohen says, “You have the most leverage at the offer stage. You’re in a powerful negotiating place when the employer has decided they want you.”
And remember, treat job interviews as a negotiation, not a one-sided conversation. Don’t sell yourself short or feel obligated to share your salary expectations early in the interview process when the timing isn’t right.
[The Best Companies for Quality of Pay]
4. Be Willing to Say ‘No’
There’s power in walking away and turning down an offer when the company is unwilling to give you what you need. Doing so shows you value your worth and will not settle for less. Plus, if you aren’t willing to say “no” to a bad offer, you miss out on better opportunities down the road.
To give yourself the ability to say “no,” Hasson recommends
1. Lining up other offers so you have multiple options to consider.
2. Saving up an emergency fund so you have the flexibility to keep looking.
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How to Answer Questions About Your Salary Expectations originally appeared on usnews.com
Update 06/23/23: This story was published at an earlier date and has been updated with new information.
