Here comes the moment of truth where you are confronted with the big question, “What are your salary expectations?” Anyhoo, it’s not that big of a question, and honestly, you really do not have to fidget or put yourself in an unnecessarily intense mode. All through your interview, remember that confidence matters.
When you’re asked about your salary expectations in an interview, it’s essential to approach the question with preparation and confidence. Here’s how to navigate this potentially tricky question:
Research Salaries
Before your interview, take the time to research the average salary range for the position you’re applying for. Consider factors like location, industry, experience, and education level. Having this information will help you provide a realistic salary expectation.
Consider Your Needs
Determine how much you need to live comfortably and cover your expenses. This includes rent, bills, transportation, and other essentials. Knowing your financial requirements will help you gauge the minimum salary you’re willing to accept.
Be Prepared to Negotiate
Employers often expect candidates to negotiate their salary. Be ready to discuss your compensation package and consider factors beyond just the base salary, such as bonuses, benefits, and perks.
Understand Why Employers Ask
Employers inquire about salary expectations to gauge your understanding of your worth in the market, assess whether your expectations align with their budget, and determine if you’re at the appropriate professional level for the role.
Now, let’s explore some strategies for answering the salary expectation question:
Research the Job Market and Salary Trends
Use online resources to research salary trends for similar roles in your industry and location. This will give you a baseline for what to expect and help you determine a reasonable salary range.
Provide a Price Range
If you’re uncomfortable providing a specific number, consider offering a salary range instead. Keep the range relatively narrow to avoid leaving too much room for negotiation on the employer’s end.
Example: “I am seeking a position that pays between N100,000 and N150,000 monthly.”
Include Negotiation Options
In addition to discussing salary, consider mentioning other forms of compensation or benefits that are important to you. This could include bonuses, equity, stock options, or professional development opportunities.
Example: “I am open to negotiating salary depending on benefits, bonuses, equity, stock options, and other opportunities.”
Deflect the Question
If you’re still early in the interview process and need more information about the role before discussing salary, it’s okay to defer the question for later in the conversation.
Example: “Before I answer, I’d like to learn more about the responsibilities and expectations of the role. Once I have a better understanding, I can provide a more informed response.”
Do not forget that it is essential to approach salary discussions with confidence and professionalism. By researching salary trends, considering your needs, and being prepared to negotiate, you can navigate this question effectively and advocate for fair compensation.
