You’ve managed to make a good impression and the hiring manager is considering choosing you amongst masses who’ve applied for that same position.
Although you may have gone through a phone screening or perhaps several, all those efforts are now paying off and you’re now sitting right in front of the manager for the big interview. Keep in mind this is something you’ve been anticipating for weeks or even months.
After a brief question of other factors such as qualifications and experience, he finally pops the big question upon being impressed: “What are your salary requirements?” or “What are your salary expectations?”
At this point, you can respond in so many ways that may either result in a better impression of you or disfavor you; as the interviewer wants to know whether they can afford you or not.
So the million dollar question here is how to determine the appropriate figure. Here are a few recommendations to help determine the appropriate figure. Take a look at the few recommendations listed here to help prepare you for the big question.
#1. Know Your Worth
The first I recommend is to do an in-depth research and understand the market range for the position. All the unnecessary jibber-jabber on these blogs and group discussions can totally be irrelevant in your situation due to factors like location and experience, which by the way I’d like to shed light on in today’s article. So as an alternative, check out sites like Salary.com and Payscale.com, which offer accurate and aggregated numbers that will give you a glimpse of what to expect for a specific position. Keep in mind that there are a handful of factors that may determine your earning potential, including:
- Location: This should not come as a surprise. Your location has a big influence on your earning potential. For example, a divorce lawyer working in New York can expect to earn up to $60-65K a year, whilst another with that same level of expertise and qualification who resides in Utah might be earning roughly around $30-35K. So if you are pursuing a job that requires relocation, make sure you contact the local government for some guidance.
- Experience: Have you managed to get some skill from former occupations that might contribute to the day-to-day activities or the desired one? If so, then use that to your advantage. There’s a saying that there’s no substitute for experience – and that’s definitely true.
#2. Evaluate The Market
When evaluating earning potential, one should try and understand the atmosphere of the job you are interested in. Fortunately, the government has managed to keep a close eye on things of this nature, so it is easy for you to gather some facts online.
Be aware that not every company, either local or national, can afford an astronomical amount for your earnings, especially in this tough economy. In addition, note that demanding for an amount they cannot afford can quickly eliminate you from the recruitment list.
#3. Establish Your Range
Heading to an interview with a constant strict figure isn’t such a good idea. The number might marginally be above the maximum salary they can offer— which might be the kiss of death during the interview because you’ve demanded a price out of their range. On the other hand, if you asked for a price that’s $10-15K less than what they are willing to offer, you might suffer some fiscal crisis in the future.
Although some claim that money isn’t the motive for work, others may beg to differ. Nonetheless, we all should be awarded, with that which we deserve; judging by our efforts and contributions towards the job.
Following these tips will help you be prepared for the big question, and also ensure you can determine the appropriate commission structure that suits your needs best.