One of the most important questions asked during an interview for recruiting an employee is the pay. Whether there is an initial phone screening, remote interview, or physical interview, recruiters initially may discuss this topic to ensure that the candidate is affordable for the company. It is the most common question, "What is your expected compensation?". This question is part of almost every interview, irrespective of the job profile and company. Further, you are required to be very careful while answering this question. When asked about your salary expectations, you have to ensure that you are approachable salary-wise while also not appearing too affordable, as your salary sets your worth to the company. It can be the turning point when the interviewer decides whether you are fit for the job. Sometimes it can be embarrassing, confusing, and stressful to talk about money. The key to acing this topic is preparing for it before an interview. Show
Did You Know? Almost 85% of the people lie on their CVs to get the job, and the interview process lasts 45 minutes to 1 hour. Why Do Employers Ask About Salary Expectations?There are many reasons for asking specifically what your salary expectations are. The basic purpose behind the discussion about money is as follows:
Also Read: Complete Arrears Guide - Arrears Meaning, Calculation, Tax on Arrear Salary How to Research Job SalariesWhile preparing for an interview, one of the most crucial aspects you are required to research is the salaries. Based on the data, it would help if you find a figure that you feel comfortable with. You have to make sure that the salary expectations vary depending upon career level, geographical location, experience, and company. While searching for the expected salary range for a specific job profile, don't forget to consider the cost of living in the area where the company is located and the job role. If you are applying for a job role in Los Angeles, it is expected to be higher than India's job role. There are many factors responsible for salary expectation; these are:
Best Answer for Salary NegotiationWhat are your salary expectations? The best answer to this question must have a few elements. Here are some suggestions to help you answer this question better than others. Provide a Range of Expected SalaryIf you are the one who feels uncomfortable or unsure about providing a single figure as your salary expectation, then you can provide a range instead. It would help if you made this range, keeping in mind that the interviewer may prefer the lower end. Thus make sure to keep your target at the bottom. For example, if your ideal figure is ₹50,000 per month, the answer must be, "I am seeking a position with a salary ranging between ₹50,000 to ₹60,000 per month." Include Options for NegotiationCandidates are also provided other benefits and salaries in forms of compensation that you may consider valuable. Thus you must include these as an available option for negotiation. Sometimes, when recruiters may not have the budget to align with your salary expectations, they may offer equity to make the package seem more attractive to you. For example, "I am looking for a salary ranging between ₹50,000 to ₹60,000 per month"; however, I may negotiate depending upon different opportunities such as benefits and bonuses. Deflect the Question at Your ConvenienceWhen asked about salary expectations, you must deliver your answer after analysing certain factors as a fresher. Being a fresher means that you are still learning about the job's specifics, so your answer must be to deflect the conversation. However, keep in mind that you may deflect the topic but cannot skip it, and eventually, you have to discuss the same. For example, "I would like to understand the job profile better so that I can answer this question more efficiently with realistic expectations". “What Is Your Salary Expectation?” Sample AnswersTo help you answer this tricky question efficiently, here are some sample answers for salary expectations so that you can determine a suitable answer. Example 1 "I would like to examine the job position and the responsibilities before discussing this topic. I would also like to understand what is expected from me while working with the organisation. I have worked in a similar position before; I know that this role has to be played efficiently and I would be expected to complete important tasks. So we can certainly settle down on a number." Example 2 "My salary requirements are somewhere ranging between ₹80,000 to ₹90,000. I strongly believe that the expertise and value I would be achieving while performing this role will support my expectations." Example 3 "First of all, thank you for asking me. I strongly feel that a salary between ₹80,000 to ₹90,000 per month is befitting as per the industry average and my skills and experience. However, I am open to knowing about company compensation for the job role." Also Read: What Is A Salary Slip? Why Is It Important? What Is It's Format? Tips to Determine and Communicate Salary ExpectationsWhen asked, "what are your salary expectations?" It is quite normal to feel uncomfortable or embarrassed during the interview process, especially when you are a fresher and hesitant about sharing your ideal salary expectation for the first time. To ensure that your conversation goes smoothly and you get your expected salary, here are some tips:
Conclusion Whenever an employer asks you what your salary expectations are, you must be ready with a well-formulated, prepared, and data-backed answer as it ensures you are not below or above the market value. Thus, giving an honest answer would help the recruiter analyse whether you are affordable for the company and, if yes, what would be the expected salary from your end. Follow Khatabook for the latest updates, news blogs, and articles related to micro, small and medium businesses (MSMEs), business tips, income tax, GST, salary, and accounting. Disclaimer : What is your expected salary best answer?How to Answer, 'What's Your Expected Salary?'. Research the market and salary trends. ... . Consider giving a salary range, not a number. ... . Diplomatically turn the question around. ... . Now it's time to give a number, not a range. ... . Always be truthful. ... . What to do after you've settled on salary.. How do you answer salary expectations examples?For example, if the interviewer says a job pays $55,000, and that's a bit below where you were hoping to make, you might say something like: “I was hoping for something more in the $60-to-$65K range, but I'm definitely open to negotiating based on the entire compensation package.”
What is your salary expectation sample answer for freshers?As a fresher, firstly, I want to use my knowledge and enhance my skills and practically Improve. I accept the salary which is provided by company rules as a fresher. First of all, I am a fresher my preference in gain knowledge and experience your company's priority to the fresher salary I accept that policy norms.
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