If you are in the midst of a job interview and the hiring manager asks what your salary expectations are, you can generally assume that it is going well!
However, you still need to approach the topic strategically and professionally.
Here are some of our top tips on effectively navigating any conversation around money and benefits.
Research your salary expectations: before the interview, you must research the typical salary ranges for the position and industry you are applying to. This base knowledge will help you decide on a fair expectation and provide a strong starting point for your negotiations.
Find out the best way to ‘Research Salary Expectations for the Job You Are Applying For’.
Focus on the value you bring: highlight the experience, skills, and personal attributes you will bring to the role before you talk dollars and cents. Explain how you plan to contribute to the company’s success, so your value is not questioned.
Wait for the interviewer to broach the topic: wait for the interviewer to bring up salary expectations and name their price. This will give you more information about the company’s willingness to pay and provide you with time to tailor your response.
Be respectful and professional: avoid being pushy and aggressive and focus on finding a mutually beneficial solution. Embrace active listening skills and aim to determine the top priorities for your potential new employers.
Negotiate beyond salary: remember that there are other aspects of compensation beyond salary that you can negotiate, such as benefits, bonuses, and non-monetary perks, including flexible working arrangements, higher superannuation contributions, or more annual leave. Consider these factors when considering your package, and be prepared to discuss them before you walk into the interview, so you are not winging it on the day.
Refrain from agreeing to anything on the spot: listening and discussing but not agreeing to anything during an interview is essential. Explain to the interviewer that you would like to discuss the options openly; however, you plan to consider offers and options carefully before making a firm decision.
Discussing salary expectations during an interview can feel like walking a tightrope; however, with research, preparation, and professionalism, you can navigate this step of the hiring process effectively and ensure you are fairly paid for the value you will bring.
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