How To Answer: How much do you expect?

Most people get tongue-tied or flustered upon hearing this question at their job interview.

So, how much do you expect?

Recruiters use this interview question for a few reasons. Perhaps they have a budget, and want to see if they are able to meet your expectations. Or maybe they are looking to see if you know your worth – how do you value your skillsets, your level of experience, your career achievements etc.

In fact, there’s a silver lining to this question. Most of the time, recruiters who ask this question are likely to have taken an interest in you and would like to see how they can fit you into their company.

Regardless, here are four tips we recommend so you can keep your cool while answering this question in future.

1.      Do your research

We recommend you not to follow industry reports as they tend to be unrealistic. Most industry reports offer too general salary scopes – they do not give salary expectations based on geographical locations. For instance, in different parts of the world, salary range differs based on cost-of-living of the area. A job located in a big city like New York will likely offer a higher salary as compared to the same position in more rural areas such as Alaska or Texas. The same can be applied to different countries as well.

Instead, you should check employment and job review websites such as Glassdoor, salary.com, salary sg forums or Seedly salary guide as they might be a better option. These websites accept anonymous reviews from current and past employees of companies and provide salary averages and estimates. These reviews offer a realistic perspective of the salary you should expect for a particular position at a company. Although the salaries on each site might differ, looking at a few sources will give you a broader view of the salary range to expect. You will be able to name a figure that is based on real data and not just what you desire.

2.      Understand Salary Structure

Apart from finding out the typical pay of past employees or of similar positions, it is imperative that you have a clear understanding of the salary structure of the particular industry. Know the salary hierarchy and where your desired position fits into that. Find out what is the average pay out for your desired position. For example, if you are in sales, you can check for the target pay out.

3.      Be Ready to Negotiate

Armed with the knowledge of your expected salary and salary structure of the industry, now is the time to put your communication skills to work. Before communicating your desired or expected pay, remember to have an open mind. Be flexible and open to negotiate your proposed pay. Begin by preparing a number to start from. If it happens that your expected salary is turned down, you may want to negotiate other benefits instead, such as medical incentives or flexible working options.

As much as it is important to be realistic about your salary, remember that you can walk away if the offer is way lower than your expectations. In the long-term, working in an environment where you feel you are underpaid will only breed misery and resentment. Always come to a compromise that you feel satisfied about.

4.      Speak to a Recruiter

Seek advice from us! Speaking to an industry expert can also enable you to better respond to such a question. We work with hiring managers all the time; hence we know the salary structure for different industries – beauty, fashion and luxury – at the back of ours hands.

Hopefully, with these tips, you can now better navigate salary negotiations at your next job interview!