‘What is your current salary?’ Almost in every job interview, every jobseeker understands that the discussion will go down to this crucial – the tricky monetary question. Talking about compensation with potential employers can be tough. Not only because it deals with sensitive issues, but also because providing wrong answers during the negotiation will make you earn less, than you actually deserve. Or even worse, it might cost you the job offer itself.
Job hunting is a full-time battle. Upon securing an invitation for job interview, the next thing to do is make sure that you give your best performance to win hiring manager’s heart. While you should prepare yourself to tackle mandatory skills, experiences, and other qualification-related enquiries, you have to get ready for some questions related to your salary history as well.
At some point during the discussion, there will be high chances that your potential employers will ask about how much you make at your current job, and how much you are seeking if you are offered the job. It is duly noted that money-related questions such as your past earnings or future salary expectations is by no means a trivial topic during a job negotiation.
Taking wrong approach in answering the questions might put you in an undesirable position when you get the job, or lose the opportunity to land the job at all. In order to know how to position yourself when faced with similar inquiries, first you have to understand why employers need to know your monetary worth.
One major reason why potential employers ask about how much you make at your current or previous job is to gauge your market value. By reviewing your past salary, they will measure if your skills and experience are worth the job. Additionally, employers want to know if they can afford to pay you for the position.
For example, if you asks for thousand dollars more than they can afford, there are good chances that the hiring managers won’t invest their time and resources to pursue further discussions with you. Then the real question is, what does your monetary worth speak about you?
There are two significant things your salary tells about yourself. First, salary range is related to how you value your work. By gauging how you value your work through your salary, employers can measure your inclination and commitment with the job. To what extent are you willing to work hard toward your passion, as well as personal and professional goals? How do you say that the time you invest in the job is worth the money?
Instead of comparing your monetary compensation with someone else, only you can measure the real value of your work. More than just a huge sum of money you earn each month, your job should give you a sense of purpose through work accomplishments.
Second, salary expectation is related to how you value yourself. Do you have the confidence to raise the negotiation bar and ask for what you deserve? Or, would you rather stay out of the game and accept whatever they offer? Sometimes, it is easier for a job seeker (especially fresh-grads with no prior job experience) to just accept whatever number proposed by employers.
However, rather than meekly following the stream, it is crucial to understand your value in the talent market. Look inside yourself and ask, ‘Is it really all that I deserve?’ Improve your self-esteem and know your true worth, only then you can contribute to the company.
Towards the end, financial questions should not be something terrifying to answer during a job interview. Before passing through the interview door, do your homework well and determine your market value. So when it comes to salary questions during the recruitment process, you do not have to worry about overvaluing yourself, or taking less undesirable job you do not deserve.