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HomeCareer AdviceDecoding Salary Expectations: Ace the Interview Question

Decoding Salary Expectations: Ace the Interview Question

One straightforward question that often makes us feel awkward during an interview is “What is your salary expectation?” This question is simple yet significant for both the employer and the candidate. It’s also a critical question in finalizing the selection of a candidate. Interviewers ask this question for reasons such as:

  • Whether you fit within the set budget for the position you have applied for

Your answer helps them decide whether the company can afford you or not.

  • Gauging your awareness about your professional worth

A good candidate knows the value of his or her skill set, experience, and qualifications in the market and can write it with confidence. An overconfident candidate may end up quoting a “very high” expected salary figure, while an underconfident candidate may expect a “very low” figure. Either way, the employer can gauge if the candidate knows his or her professional worth or not.

  • Understanding your professional hierarchy

Sometimes, changing jobs can lead to role-based confusion based on the terminologies used in different companies. For example, a team leader in a corporation may hold a senior position, but in a start-up, it can be a much lower position. Candidates expecting a higher salary may indicate more seniority work-wise, while someone quoting a lower desired salary indicates lesser experience and job responsibilities.

So, how should you answer this question for a positive interview result?

1. Know the market standards

Check different job review sites to get an understanding of the standard salary prevalent in the market for a particular role. Based on the average salary, fix a sensible figure in mind (quoting a number that is 10% to 15% higher than the market standard is acceptable)

2. Set a range

Sometimes, having a fixed number as your expected salary can be problematic, especially if you are not sure about what the company can offer. In that case, provide a range with the lower end of the range closer to your expected salary. For example, if you are expecting a salary of INR 40,000 per month, quote a range from 40,000 to 60,000.
Understand the question

3. Mention your expected hike percentage

Wondering how much salary hike to expect when changing jobs in India? Generally, interviewers are aware of your current salary, especially if you apply for a job online. In such cases, instead of quoting a higher number as your salary, mention an expected hike percentage on your current salary. For example, if you are earning INR 10,000 and expect INR 15,000, then say, “I am expecting around a 50% hike on my current monthly salary.”

4. Keep the scope for negotiation open

Instead of staying fixed on a particular figure, range, or percentage increase, try to seem flexible for negotiation, as many companies may not exactly meet your expected salary demand but compensate for it with additional perks and benefits.

If you are looking for a job, explore Apna – India’s leading career app, which offers jobs in over 65 categories to millions of job seekers. Choose from lakhs of jobs, call HR directly, and get your interview scheduled within hours. Currently, you can search for jobs in BangaloreDelhi NCR, Mumbai, Pune, Ahmedabad, Jaipur andRanchi.

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All the best!

FAQs

1. How do you answer, What is your salary expectation?

What is your salary expectation? A sample answer for experienced professionals should indicate your range and explain why you chose it, mentioning your experience and talents that render you an excellent fit for the job. Acknowledge that there are other considerations besides salary when deciding whether or not to accept a job offer.

2. How do you deflect a salary expectation question?

You can avoid answering questions about your salary expectations by asking, “What do you generally pay a professional in this position?” or “I want to know more about the position before determining how much I want to be paid.” My salary should be in line with what is considered industry salary standards for positions comparable to mine in this field.

3. What salary should I ask for?

Once you’ve received a job offer, you should take advantage of this to bargain for your starting pay. See what your potential employer may provide you in terms of desired compensation, and think about requesting a salary that is $5,000 or $10,000 more than the initial offer.

4. Can I change my salary expectations?

During your employment with a company or during the hiring process, such as during job interviews, you have the option to negotiate about your pay. However, when a job offer is at stake, salary negotiations become much more delicate because you don’t want to turn off a prospective employer by demanding an unreasonably high salary.

5. How do you reject a job offer due to salary expectations?

Here is an ideal way to gracefully reject a job offer when it does not meet your salary expectations: “Thank you so much for committing the time to talk with me about my projected salary. Sadly, I will have to turn down this role or job offer because the pay is insufficient to take a pay cut and stay in my present position.”

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