How Much are you Making and What do you Expect?
After reading Successful Compensation Negotiation 101 – Part 1, you’ve done your homework. You know what your skills and experience command in the workplace based on location and industry. You also know what’s important to you in a new job, because you’ve done some much needed soul searching. Now that you’re armed with that vital information, you’re ready to start interviewing with prospective employers. You can count on being asked about your current compensation/expectation, so how do you answer that question?
First, did you know there are laws that make this question illegal in certain parts of the U.S.? Business Insider published an article that lays out the nine places where the dreaded salary question is currently illegal or going to be illegal in 2018. However, if you don’t live or aren’t searching for a job in those nine places:
- Be honest when initially asked and be prepared for the question.
- Candidates often act surprised when a recruiter asks them what they are currently making/expecting during the initial phone call. It is our job to ensure the company is a good fit for you, and you are a good fit for the company. Recruiters ask this question wanting an honest answer, because when and if the offer stage of the interview process arrives, we want to make sure you are happy and get you to accept what we can offer.
- Think of all the monetary aspects when answering this question. Do you need relocation? Do you have a bonus you will be walking away from? How much of an increase do you want? (Do your research, if you are reaching for the stars, then you need to have the skillset to back up that request.) All of these questions are being asked, so that expectations are set from the get go – no surprises.
Being prepared to answer the compensation question will benefit you as you move through the interview process. An open and honest dialogue on this issue will help ensure your needs are met when you receive that offer.
Author: Lauren Bolsinger, Special Contributor
Lauren graduated from the University of Mississippi and has three and a half years of recruiting experience under her belt.
Fun Fact: Lauren has an obsession with Indian food. It is her absolute favorite!
Be sure to connect with her on LinkedIn!