Speedy Mentors       3 yrs ago

Whether you are starting a new job or going for a promotion, being asked what is your desired salary?” should not catch you off guard. Knowing how to negotiate salary is essential to get what you want and what you deserve. But, of course, you should be able to back it up with evidence of your worth as a professional as well as the confidence and tact to get your point across.

A salary negotiation is never easy. Yet, it is a discussion that you need to go through right the end of an interview process. Not doing so could mean that you are leaving money on the table, and that is something you do not want to happen, especially if you have specialized skills and an impressive CV that employers would be willing to compete for.

Still, it would be a big mistake to just go ahead with the salary topic without the right preparation. All hiring managers will ask about it, and many of them don’t expect you to give an immediate response. In that case, we have put together this article to help you confidently and courteously negotiate your salary that can help you gain more. Below are the things you will learn from this article:

• Understanding the intent behind a question

• Preparations to effectively answer salary interview questions

• Samples of salary-related questions and answers

Understanding the intent behind a question

The big question about your desired salary can be framed in different forms, such as:

• What do you expect in the way of salary?

• What salary range would you require to accept this job?

• What are your salary expectations?

• What salary were you asking at your last job? 

• Would you consider taking this amount based on your experience? Does this satisfy your needs?

Whatever form the question comes in, one thing is certain: it is an unavoidable part of the job application process. Part of preparing yourself for that question is to understand why the person across the table is asking. Here are some of the reasons: 

• A hiring manager who throws a certain amount and asks if you would immediately accept it may simply be interested to know if you are genuinely excited about the job.

• A question about other offers you may have received may be targeted to help the employer know the type of job search you are doing and if they have a chance at getting you on board.

• A direct question about your salary expectations may be a means for the interviewer to understand how much you value your experience and if you know the going rate for the position in your specific industry.

• Also, a question about your anticipated salary may be directed by the interviewer to understand if it is worth getting you into the next step of the process or not. For instance, an employer has put a specific amount for the position you are applying for and you believe that you deserve more than that. They may decide not to hire you because they cannot afford to go further than their initial offer.

  
  

Understanding the intent behind the question will help you provide the ideal answer and prevent you from losing leverage. Do not forget that it’s highly likely for you to be hit with difficult salary questions that may make you uncomfortable and defensive or put your weaknesses on display. What you want is to be prepared for such questions and answer them with all honestly and with a powerful impact, but not in a way that will make you look like an unattractive candidate. 

Preparations to effectively answer salary interview questions

For interview questions related to salary, the best answers are not always straight up the amount you have in mind. Instead, they are all about framing yourself as the best candidate for the role, and interviewers will see that and may actually give you more wiggle room to bargain up your pay or even provide the salary you are asking. 

To further help you in this area, below are some preparation strategies you can use to effectively answer salary interview questions:

Know the going rate in your field

Information is power when entering a salary negotiation. Find out the going rate for the position you are applying for as well as the experience level you hold. This will allow you to have a realistic view of the compensation trend in your field, which in turn should help you respond to a job offer more comfortably, especially if you are going for an in-demand role. Keep in mind that if you walk into a salary negotiation without an idea of the going rate in your field, you will be under the heel of a hiring manager who can simply steer the conversation towards a salary offer that is more favorable to them than you.

Determine your value

Now that you are aware of the prevailing going rate in your field and the experience level of the position you are targeting, you need to determine what is your value. To do this, you need to be honest about where you are currently at in your career. List down concrete samples of the skills and experiences you can bring to the table and how they will benefit the company. Certifications, accreditations or any specialized technical skills are worth mentioning as they will display your ability to take accomplish specific tasks as well as your dedication to life-long learning. Connecting the strengths you possess to the role you are applying for justifies the salary you want. If you have no justification to present, it is not a good idea to insist on your demand.

Take benefits and perks into account

It is not just your base pay that you need to think about when you are negotiating a salary. You also need to take into account the benefits and perks you receive. Keep in mind that some employers may offer less in terms of basic pay, but are more generous when it comes to benefits and perks such as health insurance, flexible working hours, extra vacation days, or free food and snacks. In this sense, consider if additional benefits and perks would be good alternatives or supplements to the salary you have in mind or if you would still prefer to pursue the salary you are pleased with.

Practice the conversation

As with any other aspects of an interview, you need to rehearse what you would say when negotiating your salary. Jot down what you want to say and rehearse it in front of a mirror. Even better? Practice with a friend or a mentor who is also from the corporate world and can ask tough and unexpected questions. Rehearsing several times can help build your confidence once the interview heads toward the direction of salary discussion.

Some do’s and don’ts when negotiating salary

Now that you are aware of the preparations you need to do for a salary negotiation, here are a couple more tips that can help you discuss the topic in depth without losing your confidence and without being tactless.

Do’s 

• Walk in with confidence. The way you enter a room can have an influence on how the following interaction will go. Start things off with a positive attitude and the rest will follow.

• Help them see your worth by talking about what you have done and what you can do. You will want to put emphasis on the times you went above and beyond for a role, and what you are excited about should you get hired.

• Consider the employer’s constraints. As much as they would like to give you the amount you want, constraints like salary caps may make it difficult to do so. Find out exactly where they are flexible and find a solution that work well for both of you.

Don’ts 

• Make something up. Honesty is integral when negotiating salary. The fastest way to get your offer withdrawn is to be caught lying about having a competing job offer or having inflated previous salaries.

• Haggle over every little thing. Negotiating to get a bit more may irritate a prospective employer, which can lead for you not to get the salary you desire.

• Hesitate to turn down an offer, especially if you feel that it is too low. Knowing when to say ‘no’ is not a bad thing when negotiating salary, given that it can have an impact on your lifetime earnings.