Snuggie…funny. (Not sure what a Snuggie is, Click Here ) I used this clip to make you laugh…or at least to make you smile. Although this clip is a little tongue-in-cheek, wouldn’t it be nice if we all had an agent that would negotiate our salary and compensation packages? Come with us as we talk about a few tools that will help you be prepared for salary negotiations.
Intro To Series: Click Here
Week One Answers: Click here
Week Two Answers: Click Here
Week Three Answers: Click Here
Week Four Answers: Click Here
Welcome to part three of the series Interview tips: Answering the tough questions. (part one , part two) This week we will discuss the following questions:
1. What is your current salary or compensation?
2. What is your desired salary?
3. We’ve been working to be more competitive with regards to compensation. Can you tell me where you are currently?
4. Would you be willing to take a salary cut?
We will take an in depth look (with a simple format to follow) of what the interviewer is asking, what they do not want to hear, what they do want to hear and example answers you can use in real life scenarios. If you are not already following this series, follow us as we discuss 20 hard to answer interview questions. (Subscribe by RSS feed or Email to follow the series) Answers to these questions have the ability to make you more money, accentuate your job experiences and get you the job. That is, if answered truthfully and correctly.
Before we dig deep into answering these questions, keep this in the back of your mind; the power of presentation. Asking and answering these questions can create an awkward time during the interview. You can very easily create friction between you and the interviewer. Being honest, fair and nice is the easiest way to prevent this. (I know…I know very simple concept…but it works.)
1. What is your current salary or compensation?
First things first, be honest with the interviewer. It is way too easy for a company to verify your total income or ask for w2 history. Keep this in mind; if you are the right person for the job, it’s the interviews responsibility to provide you a package that is satisfactory to you. So then how do you answer the question? Each job you interview for is going to be different in job responsibilities, time requirements, etc. This makes it very difficult to even compare your current salary to what they are asking you to do.
Don’t: Lie or answer the question with a number.
Do: Use all your resources available to understand what the job responsibilities are, work-life balance and benefits.
Example answer:“For what I am asked to perform, I feel my compensation is consistent with the rest of the job market. Although I have used all my resources available to understand this job opening, I have not had the opportunity to gather all requirements for this position yet. I look forward to this discussion once I fully understand what you are asking me to perform and I have presented my knowledge, skills and abilities that can help your company reach its goals.”
2. What is your desired salary?
You never want to give an interviewer your salary expectations in the first conversation. This should not even be possible. There are too many factors to consider to even identify a number. Once you have gathered all available information, (job responsibilities, skills, benefits, work-life balance, vacation, holidays, etc.) then it is time to discuss salary expectations. Both parties benefit by doing this. The employee needs to be satisfied with what is offered and the employer need a satisfied employee.
Don’t: Answer with a number.
Do: Research the factors that go into a total compensation package.
Example answer: “I know it’s your goal to provide me an adequate compensation package that benefits both parties. At this time, I am unfamiliar with every factor that equates to a total compensation number. Therefore, I do not want to overextend myself without having thoroughly reviewed every factor your company provides in a total compensation package.”
3. We’ve been working to be more competitive with regards to compensation. Can you tell me where you are currently?
This question is just a fancy way of asking what your current salary is. There is no need for you to give your current compensation. I would suggest tools they can use to help them become more competitive in the market place.
Don’t: Answer the question with arrogance or give a number.
Do: Be as polite as possible and kindly suggest ways they can gather information about market compensation.
Example answer: “While I do feel I have a competitive package, I am not sure how my current salary can help you become more competitive. May I suggest using a tool such as Salary.com? They would have a larger information pool and provide you a more accurate answer. However, I am sure you’re paying consistent with the rest of the market.”
4. Would you be willing to take a salary cut?
There are so many ways to look at a question like this. I am not sure how many companies out there are making this question apart of their hiring process…but I do get asked about it quite a bit. We will be approaching from the view of the company asking if you would accept less than what you are making now for the job you are interviewing for.
Don’t: Lie, if you are not willing to take one…say so. (There are many reasons you may not be able to take a pay cut)
Do: Give an open and honest answer. No one wants to take a pay cut, but the job opening may advance your career.
Example answer: “Like most people, I would like to improve on my salary, but I’m more interested in the job itself. I would be open to negotiating a lower starting salary but would hope that we can revisit the subject in a few months.”
Make sure to subscribe via Email or RSS feed to follow the series. Next week we will be discussing the following questions:
- Why were you laid off?
- Why were you fired?
- Why are you leaving your last job?
- Tell me about the worst boss you ever had.
- Is there anyone you just could not work with?
I would be interested in hearing what you have to say. Do you agree with the answers? Or have more ideas/suggestions? Please leave a comment below.
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Christopher McGill impacts businesses by giving companies access to the best and the brightest within the IT Profession. He provides 360 degree full service talent management solution that help companies hire with precision & insight.
What they are saying: “Chris is the example of what I expect a recruiter to be.”
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Video credit: jdorama56 and TheTrevorWarren
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