Money talks. And so, in the job search process, it’s inevitable that you’ll be asked about your salary expectations. It’s a tricky question to answer, but one that you’ll need to address if you want to move forward in the hiring process. So, how do you answer the question of what you expect to earn? In this blog, we’ll explore some strategies for approaching this thorny topic.

The Importance of Knowing Your Worth

Before you can answer the question of what you expect to earn, you need to know what you’re worth in the current job market. This requires some research. A good starting point is to check out websites like Glassdoor or Payscale, which offer salary data for different job titles and industries. You can also talk to recruiters, colleagues, and professional organizations to get a sense of what people in your field are earning.

It’s important to note that there are many factors that can affect your earning potential, including your level of experience, education, skills, and location. According to a 2021 report by LinkedIn, the average salary increase for job switchers was 15.1%, but this varied widely by industry and location. In the United States, for example, the highest-paying cities for tech jobs are San Francisco, Seattle, and New York, while the lowest-paying cities are Salt Lake City, Charlotte, and Kansas City.

Strategies for Answering the Salary Expectations Question

Now that you have a sense of what you’re worth, it’s time to think about how to answer the question of what you expect to earn. Here are a few strategies to consider:

1. Deflect the question

One approach is to deflect the question by saying that you’re open to discussing compensation once you have a better understanding of the job requirements and the company’s budget. This can be a good way to buy some time and gather more information before committing to a specific number.

2. Provide a range

Another option is to provide a range of salaries that you would be comfortable with. This can give the hiring manager some flexibility while still ensuring that you don’t lowball yourself. However, it’s important to make sure that your range is realistic based on your research.

3. Use your current salary as a starting point

If you’re currently employed, you can use your current salary as a starting point for the discussion. However, keep in mind that your current salary may not be a good indicator of your worth in the current job market. According to a 2020 survey by Hired, 59% of job seekers who accepted a new job received a higher salary than their previous role.

4. Emphasize the value you bring to the table

Ultimately, the goal of any negotiation is to find a win-win solution that benefits both parties. One way to do this is to emphasize the value you bring to the table and how that can translate into tangible benefits for the company. For example, if you have a track record of increasing sales or improving processes, you can make a case for why you deserve to be compensated accordingly.

Dos and Don’ts of Answering the Salary Expectations Question

In addition to these strategies, there are a few dos and don’ts to keep in mind when answering the salary expectations question.

Dos:

• Do your research and know your worth
• Do be honest and transparent
• Do focus on the value you bring to the table
• Do keep an open mind and be flexible

Don’ts:

• Don’t lowball yourself
• Don’t overshoot your worth
• Don’t be confrontational or aggressive
• Don’t make it all about the money

Remember, the hiring manager is not trying to trap you or low ball you with this question. They’re simply trying to get a sense of your expectations and see if they align with what the company can offer. By approaching the question with a positive attitude and a willingness to negotiate, you can increase your chances of reaching a mutually beneficial agreement.

Negotiating Other Aspects of Your Compensation Package

While salary is an important aspect of your compensation package, it’s not the only factor to consider. There are other benefits and perks that can also affect your overall satisfaction and quality of life. These might include things like healthcare benefits, retirement plans, paid time off, flexible schedules, and remote work options.

When negotiating your compensation package, it’s important to consider these other factors and prioritize what’s most important to you. For example, if you have young children, you may place a higher value on a flexible work schedule than on a higher salary. Or, if you have a chronic health condition, you may be more concerned with healthcare benefits than with vacation time.

According to a 2021 survey by Mercer, the most important benefits for employees in the United States are medical insurance, retirement benefits, paid time off, and flexible work arrangements. However, the specific benefits that matter most to you may vary depending on your individual circumstances and priorities.

Conclusion

The question of what you expect to earn can be a challenging one to answer, but it’s an important part of the job search process. By doing your research, being honest and transparent, and focusing on the value you bring to the table, you can increase your chances of reaching a mutually beneficial agreement with your prospective employer. Remember to consider other aspects of your compensation package beyond just salary, and prioritize what’s most important to you. With a little preparation and a positive attitude, you can navigate this tricky question and land the job of your dreams.