How to answer questions on Salary Expectations? Freshers & Experienced
Now when it comes to a campus interview, we may not come across a question on salary, since the package is already pre-decided.
However, in your professional career eventually, you may not be able to ignore the question of “What are your salary expectations?”
Whenever a candidate is asked this question, he/she is worried to quote a figure that may be too high or too low.
Then how do you answer this question correctly?
Well in this blog post, I take you guys through that perfect answer which will ensure you crack your interview and land that dream job!
This blog includes answers to the following questions
1. What is the reason behind asking this question?
2. How should freshers answer this question?
3. How should experienced candidates answer this question?
4. Perfect outline to answer this question?
Now the first thought when you are asked about salary expectations is, why should I give them an amount, shouldn’t I wait for them to quote a figure?
So while its much better to get a figure from the recruiter, it may not always be the case.
Now you can always goof up with this answer because the moment you quote a fixed figure, you are either risking to get paid lesser or you are risking to be assumed as someone who thinks too highly of themselves.
And hence, perfecting this answer becomes quite crucial!
1. What is the reason behind asking your salary expectations in an interview?
Now I always say this, every interview and interviewer is bound to be different so of course the reason behind asking this question will differ as well, but broadly there are two main reasons for this question, as follows:
1. To gauge your confidence
It’s extremely important to be positive about your expertise and knowledge, and that should reflect in the confidence you have towards answering this question.
If you quote an amount that’s too low, somewhere you are showing the interviewer that you don’t deserve more
2. They need to know if you fit their salary bracket
Most employers will have a salary bracket, depending on the role and the seniority of that role.
So for example, an assistant manager role might have a bracket of 8-10lacs, so they need to know if you fit the bill!
2. How should Freshers answer the question on salary expectations in an Interview?
When I was interviewing candidates for the marketing empress, I had seen this common trend around freshers asking about the salary.
Now of course, you are getting paid for your work, but as a practice please let the interviewer ask you about the salary first.
This is because, you need to ensure that you don’t come across as someone who is more money minded.
Because you are just starting off in your career, your focus (even if not true) should be around learnings.
Next, do not quote an exact amount as your package.
What I mean is, do not say “ I want 6 lacs”, this just puts off your chances if their budget is slightly lower, be open to negotiations.
So you should ideally make a list of all your achievements so far, this includes your education, any certifications, etc.
Mentally, calculate your worth at that point of time.
Next, understand what the company offers regularly, you can get a basic understanding through websites like Glassdoor, so you can get an approximation from there.
Compare the average salary being paid to freshers who join this company and keep a lookout for that pay range.
3. How should experienced candidates answer questions around salary expectations?
Now as always, even this question gets slightly easier for work experience guys to answer.
Because you have your past figures to consider before answering this question.
Obviously, you will not settle for a salary that is lower than your last job, and on an average you would expect an approximate 30% hike on your last pay package.
Now note, this is something that your HR would also take into consideration, and its crucial that you understand this.
But again, quoting a fixed figure here may not do you any good.
Remember that while money may hold a lot of importance, you cannot work for a company that only pays you well but doesn’t provide any other benefits.
It has to be a combination of multiple things.
Get an overall industry knowledge, now this is most important, you might have come across job postings that mention ‘Salary: As per industry standards.
But what are these standards? You need to research around the same to answer this question correctly!
4. What is the perfect outline to answer questions around Salary expectations?