During an interview process it is likely that you will be asked about your salary expectations. This is one question that you cannot avoid. If you quote a figure too high, you'll lose the chance of getting the job right away. On the other hand, if you quote a low figure you'll be underestimating your own potential. One needs to keep in mind to answer this question tactfully in order to grab the job.
Here are a few tips on how you can respond to this question smartly -
1. Research how competitive the market is for your skills. Perform extensive research to find out how in-demand your skills are and what the typical compensation packages look like.
2. Look at your current salary and the typical salary progression in the industry that you are in, and quote accordingly. If you're switching industries, look at the progression within the new industry. You may have to quote higher or lower depending upon the transition you're looking into.
3. Determine your walk away number and quote a salary 10-15℅ higher than that. This ways even if you're offered the lowest salary it will be more than your walk away number.
4. It is always better to answer this question in a range of numbers rather than a single figure. If you're going to mention a range make sure that you're fine by the lower number falling in that range.
5. You can visit websites like Glassdoor.com or payscale.com to find out what compensation does the company offer for the post you are applying for. Once you know the number, quote 10-15℅ higher than that value.
6. Do not be too stubborn regarding the salary during the starting phase. This may create a negative impression of you in the mind of the interviewer. Instead be confident but flexible until you reach the final stage where an offer has been made. By then you'll know what is most important to you and what you can leverage to get your ideal compensation.
Another thing which you must keep in mind is that you must prove yourself worthy of the compensation you're demanding. Sell your skills in such a fashion that the interviewer is convinced of your potential and is willing to offer you your desired compensation.
Trust us, when it comes to hiring potential candidates most companies are willing to offer packages higher than the market rate. So if you're able to prove your worth during the hiring process you shall surely receive the compensation you demand.
Apply for a job today via PeelJobs and make use of the above listed tips to prepare yourself for the anticipated question - what are your salary expectations.