Damned if you don’t: Answering the salary question

No matter how great the job interview goes, there’s always that one question that is especially tricky. Yes, it’s that money question.  What are you looking for in terms of salary?

So what’s the right approach?  US career guidance website, The Balance, says that while the correct answer is difficult, it is more tricky not to answer the question.

So while you want to aim high, you don’t want to overstretch yourself. You also don’t want to start too low and make set yourself to be miserable, if you do get the job.

Also, how do you put a number of a job with a job that is unfamiliar.

If you are in an interview, you could try to skirt around the question with a broad answer, such as: “My salary expectations are in line with my experience and qualifications.” Or “If this is the right job for me, I am sure we can come to an agreement on salary.”

However, the interviewer will likely be looking for a number, so come prepared with a target salary figure or at least a range in mind.

So how do you determine your salary?

Depending on how much you want the job, your individual needs and circumstances, you can figure out a number to offer with confidence.

If it is a move in your industry, you probably have a sense of average salaries.

If your last company was known in the industry for its low salaries, assume that your current salary is in line with market expectations.

What would you consider a fair raise from your current employer? That could be a good low-end starting point. Or ratchet up your current pay by as much as 15% to 20%, which gives you an incentive to switch companies and is still within reasonable range for your industry and level of experience.

Remember, only offer a number that you will accept and be able to live with.

If you are moving to a position with more responsibility or in a different industry, it helps to do some research on the position and its value in the career market.

There are many websites that offer salary averages and estimates.  But check the job titles and match the responsibilities with the job on offer.

Only then, can you choose from one of these answers:

• I understand that positions similar to this one pay in the range of RX to RZ in our region. With my experience, I would like to receive something in the range of RY to RZ.
• I would like to be compensated fairly for my experience.
• The research I’ve done indicates that positions like this one pay RX to RZ and something in that range would be acceptable to me as a starting salary.
• My salary requirements are flexible, but I do have significant experience in the field that I believe adds value to my candidacy.

Read previous articles in our careers series on Ummm … no, that’s the answer I was looking for , Getting to talk about weaknesses and Don’t dread the “tell me about yourself” question or visit our careers section.