When you are planning for a job, get ready, you may come across the interview questions – How much salary do you expect? / How much do you expect to get paid? / How much do you expect to make? / What do you expect in the way of salary? All these questions focus on one particular thing - “The salary expectation of a candidate from the current job”.
Even if you have answered the question related to the salary during a phone interview round, there is a possibility to face the same type of questions in a face-to-face job interview round. This time interviewers/hiring managers will be more interested in knowing “the salary you really expect for a particular job profile”. By knowing your expectations, interviewers decide whether they can consider you for the job profile or not.
Strategies/tips to answer salary related questions
Here are some strategies/tips you can use while answering the question - How much salary do you expect?
Provide a salary range
Specialists advise that while pointing out on the salary expectation in an interview, specify the salary in a range and not in a definite number. If the salary offered to you is lower than your specified range, take that as an opportunity to ask other benefits involved with the salary, like, incentives, paid & unpaid leaves, and numbers of holidays, etc.
Do your complete research
When you prepare yourself for an interview, spend ample amount of time in doing research work to find-out the salary range of similar kind of job profile (job profile in which you are interested in) from different companies and industries. You can get an idea of the salary range through the websites - glassdoor.com, indeed.com etc.
Postpone your response
Postpone your answer when interviewers like to know your opinion about the salary in the initial stage of the interview process. Say, before we start to discuss salary, I would like to know more about a job profile, role and responsibilities involved with the profile. More better, "if you could tell me first, the standard salary package associated with the position and payment structure.
Consider your expenses
Before giving a specific range of salary, think once, whether “the range you have decided to specify will cover your expenses or not” or can you run your family in that salary or not? Your demand of salary should be made by considering your financial situation. But, make sure that you are not making exorbitant demand and try to keep your expectation in line with industry standard.
Provide true information
Instead of giving fake information of the past/current job’s salary, better to provide truthful information to the interviewer during the interview. True facts will make you feel comfortable and will help answer well while speaking about the salary during the interview. But on the other hand, fake information keeps you morally down, which can reflect on your face during the interview and can become a reason of getting fired.
How to Answer - How much salary do you expect?
Bad answers - May fire you from the interview process
Answer 1 - I work for XYZ company as a “Module lead" for past 10 years. I get 95k in-hand salary, plus extra bonus for performance. I am expecting 20–30 % increment from my current salary, only then, I will be ready to proceed with the further process of the interview.
Answer 2 – For me, getting a higher salary is as important as getting a good job opportunity. But i believe that whatever you will offer, will be fair enough as per my skills and experiences.
Good Answers – Bring you closer to the job offer
As we know, there are two types of job seekers – fresher and experienced. During the interview, questions related to the salary will be put forward to both of them as per their skills, experiences and knowledge.
Here are a few examples that can help you prepare and answer the questions related to the salary. Moreover, you will get to know, how interviewers/hiring managers can place the question in-front of you as per your current situation and how you can efficiently respond to those questions.
What do you anticipate in the way of salary?
This is a common salary related questions that can be asked to any job seeker (fresher and experienced, both) in the interview
Answer 1: As you know, I am a fresher and i don’t have work related experience. Before beginning a salary discussion, I would like to know more and more about the company, also, what do you normally pay to the employees who join your organization as a fresher at the same position with the same education and skills.
Answer 2: I work for PNB company as a senior analyst for past 5 years. I give more importance to my work and rest other things are secondary for me. As you asked the question – what do you anticipate in the way of salary? First, please make it clear – What is the salary structure of the company’s employees who are working at the same position with the same years of experience?. Also, how often you provide salary increment and what are the additional benefits you provide along with the salary.
What is the salary package you are expecting for this job profile?
The purpose of asking this question by the hiring managers is to know “the number/range a candidate had figured-out in his mind in terms of salary”.
It may happen that the interviewers insist you to specify the amount of salary either in range or number. Many ways you can answer this question. The ways specified below can help both (fresher and experienced) candidates convince interviewers about your worth for a package.
Answer 1- According to my research, the salary that comes to my mind for the same job profile is in between the range “60k–90k”. Please let me know “am I right or wrong?” and “what range is there in your mind?”
Answer 2– I am much interested in knowing the work culture, not the salary. But, if my opinion is necessary about the salary, my complete research, education and experience says - I deserve around 60k salary for this job profile. Is this amount fit with the salary structure you give to your company’s employees working at the same profile.
What is your current CTC and what are your expectations
Here you will get to know how you can answer when interviewers like to know your previous job’s salary and how much more salary you are expecting with respect to your current CTC. The Answer can be given in many ways, choose the best one fits with your experiences and skills.
Answer 1:- Since, I don’t have much idea about the salary offered by the company to the employees those are working at the same job profile, i wont be able to quote a figure for this job position. Before discussing on salary, I like to know the company’s pay stucture. Later on we can discuss on this subject.
Answer 2:- Two jobs are difficult to compare, since my current job profile and the job profile you are offering are entirely different from each other in relation to the work culture, responsibilities and bonus structure. I would like to postpone this subject until I have sufficient information to discuss on salary and other benefits. Before discussion, please let me know, “what salary package and other benefits (bonus, paid & unpaid leave, etc…) company offers to employees who are working at same position with same years of experience”.