Salary questions are one of the most challenging interview questions to answer. The recruiters ask “What is your current salary” and you tense up, unsure of what to say.
In some places, it has been even banned to ask such questions. But still you will encounter recruiters who ask you salary questions.
So you should know how to respond and win the deal.
How much are you currently making?
Most candidates often make the mistake of disclosing their salary details early in the process. You should avoid revealing your current salary in the beginning.
Otherwise the recruiters will just offer you some 10-20% increment even if they have larger budget.
What you can do in such situations is to delay revealing your salary details.
You can say- It is not so much about salary, but finding right position and I am open to competitive offer.
Even if the recruiter asks, you can say- “I would prefer not to discuss what I am currently making because the position I am interviewing for is not exactly the same as my current job.
I would like to discuss first the responsibilities then I am sure we would agree on a salary that is appropriate.”
But never tell a lie about your salary because it is something that can be verified and it is also unethical to lie.
If you want, you can respond like “My salary is X, Anniversary bonus is Y plus Performance bonus. So my total compensation is approx Z.”
Now you can make your case on why you need more.
What are your salary expectations?
This is just another way of getting the numbers out from your mouth.
You had better research the standard salary range of the position. You can take the help of company employees or Linked In or websites like Glassdoor, Payscale.
And you should also think about cost of living if you are relocating.
Once you have some standard range in mind, you can ask for 25-30% increment for higher positions and 15-20% increment for lateral positions.
Remember to justify why you are worth that.
Other things to consider during salary negotiation
You can negotiate on complete compensation package if the salary increment is not upto your expectations.
You can think of benefits like work from home, tuition reimbursement and other allowances.
You can also discuss the growth opportunities in the future like early salary review. You can ask for increment or promotion if you meet the required target.
Make sure once you have negotiated the future growth, everything is written in the job agreement letter.
You can take the help of your friends to practice the salary negotiation.