When you’re applying to a new job, it can be difficult to answer the question “What are your compensation expectations?” This question might even catch you offguard, and make it a little bit awkward to continue the interview. However, it’s important to be honest about your salary expectations, and know how to respond to salary expectations without seeming disingenuous or unappreciative of a new job.
To know how to answer what are your minimum salary requirements, make sure to understand the scope of this job, whether or not this job coincides with your salary specifications, and whether or not this type of job can help propel your career forward (and if so, is it worth it?) There are certain resources available online that can help you prepare for your what is your current salary best answer, which we will share below.
Table of Contents
- How to Answer “What Are Your Salary Expectations?”
- What to Say When Asked For Salary Expectations or What Are Your Salary Requirements?
- “What Are Your Salary Requirements” Best Answer Examples
- Alternative “What are your Salary Expectations” Questions
How to Answer “What Are Your Salary Expectations?”
If you’re wondering how to answer salary range question during an interview, keep these tips in mind. Employees are asking for:
- How much you expect to make from this position
- Whether or not you understand your specific job duties
- Whether or not this job aligns with your goals or if this is simply a stepping stone
- If you understand your position in a company
For instance, if an employer asks a prospective employee what they expect to make, and the employee answers more than the salary offered, they know that this employee is probably looking to solidify their career instead of gain experience. On the opposite end, someone might answer that a salary is way lower than normal, letting the employer know that this person might be unaware of just how many duties are required of them.
Both of these answers are, in a sense, wrong, but that doesn’t mean there is no right way for how to answer salary expectations. In fact, the right way to answer what is your desired compensation will be to:
- Give a thoroughly researched answer gathered from online sources, market value of your position, and other reviews
- Give an answer based on your skills
- Let the company know you can be flexible (if you so desire)
- Let them know you are willing, or unwilling to be hired, by setting a bottom line for your salary expectations
What to Say When Asked For Salary Expectations or What Are Your Salary Requirements?
When asked for your requirements:
DO research ahead of time for the position. Know the exact job duties required of you, and if possible, research the company online to see what other employees are being offered. You can do so through Glassdoor, Reddit, or other similar job boards that post salary ranges in specific companies and cities.
DO be prepared to give a range that the employer can work with, and be flexible to their terms if you really want to be hired with their company.
DO let your employer know where you stand with the company. Are they an employer that you are willing to work as an entry-level position for, or do you want to be hired on as a senior or leader on their team? Letting them know ahead of time can save you time in terms of having to work your way up the career ladder.
DON’T accept a salary that is lower than expected of you. It’s okay to be flexible for starting positions. However, if you truly want to be paid a job and be compensated for your skill set, DON’T let your employers know you’re willing to take a smaller offer.
DO highlight your skill set and why you would be a valuable employee that can bring your company a high ROI, or return on investment.
“What Are Your Salary Requirements” Best Answer Examples
“I saw that previous positions for this job were paid between an average of 50,000 to 60,000 a year. I’m willing to work within that range, but I do have skill sets that, I believe, put me at a higher starting salary range.”
“I want to be able to work with the company as an entry-level person. Therefore, I’m willing to work on the lower end of your salary range, but no less than $60,000 a year. I would like to know if we could reach an agreement on this, should I be hired on to your company.”
“I am flexible and provide much to offer to the company. I can take the job if my salary is $55,000, since this is the market value for a position such as mine currently.”
Alternative “What are your Salary Expectations” Questions
- What do you think you’re worth?
- Why should we pay you a higher salary?
- How valuable is this position in your eyes?
- Do you envision yourself growing with the company?
- Are you happy with the salary being offered?
- What can we do to fulfill your salary requirements?
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