One of the challenging aspects to the interview process is talking about compensation and how to address the topic without losing the employer’s interest. Often the difference between a good offer and a dream offer is your skills in discussing compensation.
The more confidence you gain in talking about money, the more likely you are to walk away with a job offer. The biggest mistake you can make when interviewing is getting up worked up over the salary questions and just blurt out a number hoping it will fall in the employer’s range. The “hoping and wishing” strategy when discussing compensation is a not a good plan yet it happens all the time when job candidates feel pressured in giving an answer.
Naturally, people change jobs for many reasons, one of which is seeking a higher compensation. It makes total sense why addressing money is such a big factor and creates so much angst during the process.
Believe it or not, the way you present yourself during the interviewing process can influence the possibility of a higher salary. The process starts out in the most unsuspecting way – your handshake. A study exploring the handshake in employment interviews found that a firm grip and making eye contact with the interviewer received higher ratings of employment suitability.
When you send a self-assured message to the interviewer, you set the stage for discussing future compensation.
The adage, “the first person to mention money” loses is one that should govern your strategies when discussing compensation. Developing a good understanding of non-verbal perceptions and conducting research beforehand helps you have a meaningful discussion instead of throwing out a number and hoping for agreement.
After your market research, you need to prepare for salary requests. You are likely to encounter the application salary box, inquiring about your compensation. Employers often use salary in their screening process, it helps them narrow the field of candidates.
Consider answering the salary question by leaving the box blank, you could type “open” or if needed give a broad number with a + sign that would include your bonus. The goal is not to get screened out of a good job opportunity by using a number too low or too high.
Remember your salary will inevitably affect your family’s life as well as your lifestyle and that’s why you need to develop your skills in talking about money during an interview. Starting the negotiating process before an offer is made is very risky and in some cases, can lead to a renege of the offer.
Expect employers to try and purchase your talent and skills at the best price possible — nothing personal, it’s just business but unless you know in advance what the going market rate is for your experience it’s easy to react rather than negotiate.
Here are some suggestions when talking about money during an interview:
- Develop a plan by listing the lowest amount you would accept based on your skills and experience, the amount you would consider good and finally the amount that would be your dream job. Writing down several amounts helps you measure an offer and a range that would be acceptable to you. If relocation is an option, consider the extra expenses you acquire when moving and plan accordingly.
- Let the interviewer go first in talking about compensation. They may ask you what your salary expectations are and if so, inquire what range they have budgeted for the position. The goal is not to exasperate the interviewer rather to understand more about the job before naming a number. A safe route is to talk in ranges rather than specific numbers, if you aren’t in the job offer stage, you are still being screened as a candidate.
- Prepare and practice out loud in answering salary questions from an interviewer. It may feel awkward at first to practice an imagined conversation out loud but it’s worth every ounce of effort when you are talking about money.
- Look at the total picture, you do want to start your job with a good salary, but money is not everything. There could be more perks, such as bonuses, stock options, car allowance, career development and vacation time to include in your compensation package.
- Get clear confirmation by asking for the offer to be written down. Spelling out the information and agreement in a letter helps you with closure and prevents any misunderstanding.
Read more: http://blog.ctnews.com/gettowork/2018/02/01/how-to-discuss-money-during-the-interview/#_ga=2.259895822.529801402.1518603937-1862272248.1518603937