The Detroit Post
Thursday, 28 October, 2021

What Are Your Salary Expectations Bitlife

author
Maria Garcia
• Saturday, 28 November, 2020
• 7 min read

Google Play User Rating: 4.4 This usually happens during the interview process to allow the hiring manager to evaluate whether your expectations are on par with what they are willing to offer or what the industry average is.

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(Source: www.thebalancecareers.com)

Contents

To make sure you're not over-qualified for the job: If you're asking for a great deal more than what the company can offer or what other candidates are requesting, you may be too experienced or qualified for the position. While this isn't a bad thing, there's a possibility that the company is unable to accommodate your salary requests in order to pay you what you're truly worth.

On the other hand, requesting a salary that's much lower than what other candidates have asked for could be an indication that you're less qualified for the position or have less experience. To assess whether you know you're worth: The best candidates are aware of their value and what they bring to the table.

Because confidence is a good trait that many employers value, knowing your worth will ultimately benefit you during your job search. You can also research what other people in your position make who have a similar experience and education level.

For example, if it will cost you $2,000 to move to the city where the company is located, you'll want to ask for either $2,000 in direct compensation or for it to be included in your overall salary. While you'll have to eventually talk about your salary expectations, you can deflect the question to avoid having to answer until you are ready.

There are several ways in which you can be compensated by an employer, including health benefits, additional paid time off, more vacation days, and equity in the company. While these types of compensation may not be readily seen on your actual paycheck, they do add up over time and equate to either additional income or a more attractive work environment and work-life balance.

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Given my experience, expertise, and skills, I would expect to receive a salary in that range. I feel this is a fair salary range given my experience, knowledge of the industry, and skills.

Here are a few things to avoid when answering a question related to yoursalaryexpectations in an interview: Not being prepared can lead to you asking for or accepting a salary that's lower than what you deserve or can afford.

Sometimes recruiters ask this question during an initial phone screening, or they may hold off on discussing salary until you’ve met face-to-face. While a question about yoursalaryexpectations is one of the most straightforward things employers ask during a job interview, it can be stressful to talk about money.

If you do research on average compensation for both the role and your experience level, you can have productive and informative conversations about pay with your potential employers. The interviewer wants to make sure your compensation expectations align with the amount they’ve calculated for the job.

If they find most candidates are asking for a great deal more than anticipated, it might mean requesting a larger budget for the position. An applicant who asks for a significantly higher amount than other candidates may be too senior for the role.

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(Source: lifeofinfo.blogspot.com)

Alternatively, answering with a salary expectation on the low end could indicate you’re at a lower experience level than the job requires. When preparing an answer to a question about your ideal salary, it’s crucial you provide not only a number you feel comfortable with but the appropriate compensation for the job based on real data.

These salary estimates come from data submitted anonymously to Indeed by users and collected from past and present job advertisements on Indeed. You can also visit Indeed's Salary Calculator to get a free, personalized pay range based on your location, industry and experience.

When researching the typical salary range for a position, remember to consider where the role is located and the cost-of-living in that area. This data can help inform your answer to questions about salary expectations, but this isn’t the only criteria to consider.

Yoursalaryexpectations should also factor in your seniority, experience level, educational background and any specializations or unique skills other applicants in the field may not have. Include negotiation options: In addition to your salary, there may be other benefits, perks or forms of compensation you consider just as valuable.

My rich background in client services specific to this industry can play a role in strengthening the organization.” I feel that an annual salary between $67,000 and $72,000 is in line with the industry average and reflects my skills and experience level well.

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Sharing salary information with an interviewer can feel uncomfortable, especially if you’re not accustomed to being asked this question and are discussing your ideal compensation for the first time. Aim high: Once you know the average salary range for a position, consider padding your expectations.

Don’t sell yourself short in an attempt to move forward or you could end up making too little. Highlighting your experience or educational level can add justification for your salary, especially if you’re aiming above the local average.

By giving an honest, informed response, you can help the interviewer better understand whether your expectations align and, if things go well, what sort of salary will be attractive enough to get you on board. When career coach Joel Crawford worked in recruiting, the main reason she asked about salary was to gauge a job candidate’s expectations relative to the budget allocated for the role.

So unlike many other common interview questions, your response to “What is your desired salary ?” could disqualify you from consideration for a job. But that isn’t necessarily a bad thing, since you might not be able to accept or enjoy a job that doesn’t pay enough for you.

You might also be afraid that the interviewer will judge you harshly if you price yourself too high or too low, but that generally isn’t the goal. This question is more about finding a salary match, says Crawford, who is also host of the podcast Career View Mirror.

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Discussing salary early on ensures neither the candidate nor the company will “waste time and effort on several rounds of interviews to find out that the salary is wildly off from what you want,” says Muse career coach Jennifer Fink, CEO and founder of Fink Development. “Ideally, employers and recruiters would be upfront with information and volunteer it first, but that’s not often the case,” Fink says.

Either way, “Some processes won’t move forward until they know that a candidate is a good fit salary -wise,” Fink says. Start your salary research by looking up your desired job title by name, geographic location, and years of experience through free resources like the Department of Labor, Payscale.com, and Salary .com.

Fink also recommends 81cents, which helps job candidates, especially women and underrepresented minorities, improve the outcome of salary negotiations. You have to pay for their in-depth, personalized reports on your individual market value, but you can also check out their resource library for general information on salary and negotiation.

Asking people in your network who have the job you want what they’re making is another way to gain insight, Fink says. Use multiple sources to get a good sense of the going rate for the kind of job you’re interviewing for and take into account any additional skills and qualifications you have, the size of the company, the industry, and the location.

Take all these factors into account ahead of time so you’re prepared to respond based on your actual needs and don’t accidentally accept a salary “where you’re eating Top Ramen and Moon Pies for dinner each day,” Crawford says. For example, you might decide tuition assistance or the ability to bring your dog to work is worth more to you than another $5K a year.

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Responding to questions about salary with a single number limits your ability to make something work with the company, Crawford says. Her secret recipe for successful negotiations is to “come from a place of collaboration and service.” By giving a salary range, you show that you’re willing to be flexible and work with your prospective employer.

Showing that you’ve done your research and you know what you’re worth tells an interviewer that you’re serious about your skills and what you can bring to their company. You might also want to reiterate what you bring to the table for a prospective employer when formulating your answer to support the range that you’re giving, Crawford says.

“Taking into account my experience and Excel certifications, which you mentioned earlier would be very helpful to the team, I’m looking for somewhere between $42,000 and $46,000 annually for this role. However, compensation isn’t the only thing that matters to me and I’d love to learn more about the job, the company, and the work environment here.

Your website mentions childcare benefits, which signals to me that this is a company that values working parents, which is definitely important to me, and I could be a bit flexible with salary for the right fit.” When you’re still learning the scope of a position and what benefits the company offers, you might prefer to delay answering questions about yoursalaryexpectations.

I’d love to learn more about the job, the company, and the entire benefits package before we talk about numbers.” Figuring out what that value is and telling potential employers will only help you ultimately get the pay you deserve.

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Sources
1 www.investopedia.com - https://www.investopedia.com/articles/personal-finance/082114/6-ways-capture-cash-value-life-insurance.asp
2 www.daveramsey.com - https://www.daveramsey.com/blog/cash-value-life-insurance
3 www.forbes.com - https://www.forbes.com/advisor/life-insurance/cash-value-life-insurance/