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Know what is and is not when negotiating.
What to say when an
interviewer asks you about money.
One email we received
said: "I'm currently interviewing for a job and the hiring
managers
asked me how much money
I'd be comfortable making. I wasn't sure how to answer this.
Any advice?"
Salary discussions are never
comfortable — but like it or not, they usually come up at some point in the interview process. The
hiring manager will typically ask what you currently make.
Then, they sometimes follow
up by asking, "And how much would you like to make
in your next job?" or
"How much do you think you're worth?"
These questions are tricky
because you don't want to scare the hiring manager off
by throwing out a number they
can't afford to give you — and you don't want to leave money
on the table by choosing an
amount that's lower than they would've offered you.
Lynn Taylor, a national
workplace expert and the author of
"Tame Your Terrible Office Tyrant:
How to Manage Childish Boss Behavior
and Thrive in Your Job," weighed in on how to respond to this question.
"When hiring managers
ask, 'What are you comfortable earning?'
this is the time to shoot for
the upper end of your range,
and to have your
well-prepared pitch ready," she suggests.
Knowing your worth in today's
marketplace is critical to your success during this process.
"But a general rule of
thumb is that by changing jobs, you can expect a 10% to 20% increase,"
she explains. "Much of
that depends on your achievements, perceived potential, industry,
attitude, the chemistry, and
many other factors. The percentage can be higher if, for example,
your specialty is in high demand
or your current employer pays below market."
Here are some additional tips
from Taylor on handling this tricky question:
Offer a range, not a
specific number. This gives you wiggle
room and allows you to reach
for the highest number, she
says. "You can always drop down from there, as in any negotiation.
Also, know your threshold in
advance: What is the lowest salary you'll accept?"
Share your research. If you're uncomfortable saying, "I think I'm worth
X," refer to your research. This allows you to speak in more objective
terms: "My research has shown that this kind of position with my
experience is in the range of X." "Remain poised and factual,"
Taylor suggests.
Be honest. Make sure you don't embellish on your current pay
in order to boost your future one. It's a small world, and the
truth may be revealed later.
Think in terms of overall
compensation. Before you get into
specifics,
know the entire compensation
picture. They may ask you about "salary," but are there bonuses,
401Ks, stock options, educational reimbursements, vacation time, travel
allowances, excellent medical coverage, or use of a company car to consider?
Find out before you blurt out a number.
Be reasonable. Don't make an unreasonable salary request. "If you
shoot for the moon,
be prepared to explain
why," says Taylor. "For instance, if you say, 'I'm now earning
$100,000
and I want to be in the
$150,000 range,' you'll likely raise eyebrows. But if you quickly back up
an aggressive request with
understandable circumstances that have kept your salary
below market level, you'll
get better support," she explains.
Examples include: a difficult
economic environment, downsizing, hiring or salary freezes,
cutbacks, or the fact that
you receive other forms of compensation and perks.
Don't cave too early. Never throw out a number and then immediately say,
"Well, maybe I'm not
worth that much," just because the hiring manager looks surprised.
If you've done your research
and feel confident in your request, stick with it as long as you can.
You may need to come down in
negotiations later — but let that process happen more organically.
Say you're willing to
negotiate. If you realize that
you're out of the employer's ballpark,
or feel you're getting
limited feedback, you can always say,
"I should also mention
that I'm flexible when it comes to salary for a great opportunity.
Do you also have some
flexibility in the compensation for the position?"
Pay attention. "Like many aspects of job interviewing, you'll
exponentially increase your chances of success through active
listening, watching for nuances and gauging your responses accordingly,"
she says. Let the hiring manager be your guide.
If you really don't know
or don't care, evade the question. Normally
this would be terrible
job interview advice. But, if
you really don't know or don't care about salary
— or you're too uncomfortable
answering the question — try something like:
"Salary is not my
primary criteria. I really place a lot of importance on seeking a challenging,
supportive environment where I can make a significant contribution and
grow."
Don't settle. Just remember: You get one shot at the salary offer
process,
so don't settle for something
you're really not comfortable with.
If you know you're worth
more, and not so certain you'd reach your goal salary anytime soon,
this might not be the company
for you.
http://finance.yahoo.com/news/interviewer-asks-much-money-want-173827044.html
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