How to Answer the Salary Expectations Question in a Job Interview

By Jeff Altman, The Big Game Hunter

This is Harvard Business Review’s opinion of how to answer this question.

Introduction

At some point in a job interview, you’re likely to be asked about your salary expectations. This can be a challenging question to answer, as you want to maximize your pay without pricing yourself out of the job. In this blog, we will explore strategies for effectively addressing the salary expectations question and ensuring that you are fairly compensated.

Why do employers ask about salary expectations?

Understanding why employers ask about salary expectations can help you prepare a thoughtful response. Hiring managers and recruiters ask this question to ensure that they can afford you and to establish a baseline for negotiations. It is also an opportunity for you to determine if the salary and benefits offered align with your expectations and needs.

Strategy 1: Redirect the conversation

One way to handle the salary expectations question is to redirect the conversation. You do not have to provide a specific number if you are uncomfortable doing so. Instead, you can ask about the budget allocated for the position. For example, you could respond by saying, “I don’t have a full understanding of the role’s scope yet to accurately price myself. Could you share the budgeted salary range?” This approach allows you to gather more information while avoiding revealing your own expectations.

If the interviewer shares their budget, you can then assess whether it meets your expectations. You can respond by saying, “That’s helpful to know. If you were to offer me the job, is there room for negotiation?” Alternatively, you can move the conversation back to discussing your qualifications and fit for the role, stating that you are still trying to fully understand the position.

Strategy 2: Offer a salary range

If you feel comfortable providing a response and have done prior research, you can consider offering a salary range instead of a specific number. Research typical salary ranges for similar roles using sources like Glassdoor and Salary.com. This will give you an idea of what a fair salary might be for the position.

When sharing a salary range, state the range and provide a rationale for why you’ve landed on those numbers. Mention your research and highlight the skills and experience that make you a good fit for the role. Emphasize that salary is just one factor in your decision-making process and express interest in learning more about other benefits offered by the company.

Here are a few examples of how you can structure your response:

Sample Answer 1:

“I’m looking for a competitive salary that reflects my qualifications and experience. Based on my research and the requirements of the role, I would expect a salary in the range of $75,000 to $100,000. Of course, I’m open to discussing the details of the entire compensation package since salary is just one factor. I’m particularly excited to learn more about the opportunities for growth and advancement here.”

Sample Answer 2:

“Given my experience and expertise, I’m looking to make between $60,000 and $90,000 in my next role. I’ve done some research on similar positions and spoken to professionals in comparable organizations, which confirmed this range. I believe I would be a valuable asset to your team and I’m open to learning more about your budget for the role and the additional benefits you offer.”

Sample Answer 3:

“Through my research on similar roles and considering my background and experience, I have found that a salary range of $100,000 to $125,000 is reasonable. However, compensation is not the only factor that is important to me. I’m eager to hear more about your benefits package, including paid time off and other perks. Ultimately, I am looking for a place where I can thrive, and I am open to discussing the specific numbers for a role that aligns with my long-term goals.”

Conclusion

Addressing the salary expectations question in a job interview can be challenging, but by redirecting the conversation or offering a salary range, you can navigate this topic effectively. Remember to focus on your qualifications and fit for the role, express interest in the company’s growth opportunities, and emphasize that salary is just one aspect of your decision-making process. By following these strategies, you can maximize your chances of securing a fair compensation package that aligns with your expectations.