The Salary Question – Important yet Tricky!

 

Over the years as a Recruiter, I have interviewed many candidates and a majority do stumble when you ask them their Salary Expectation.  It seems to be one of those questions that candidates would rather not be asked. hard

Perhaps, a reason is that there is no specific way on how to answer the question. So it becomes the tricky question that keeps popping up in your interviews. I mean, you may quote a figure too high and lock yourself out of a Job Opportunity or you may quote a figure too low that you end up being miserable when you start work and realize you could have gotten a better deal. The question can get harder to answer if it is an electronic job application where you must give a figure before moving to the next steps.

So, what are some of the easiest answers to give when asked about your salary expectation?

with wordsOne of the common ones, ” My expectation is in line with my skills and experience and also in accordance with your compensation structure” – This answer leaves room for a bit of flexibility where one is not tied down to a specific figure. In a sense, if the pay graded structure is low when compared to your skill set, then you can negotiate upwards. And if the company’s pay structure is above your expectation then you still win and as you did not lock your self out.
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There are those who would target a fair rise from their current employer e.g 30% more to their current Gross Remuneration. The challenge with this is that more often than not, it forces the candidate to disclose their current earnings. We have debates on whether to disclose current earning or not or if it should be a factor during the hiring process. The market averages for increment when bench marking from current salary is usually 20% – 30%. When giving this type of answer, remember to give a figure that you are comfortable with.

compare.jpgAnother possible way to answer is by benchmarking with similar companies, or similar positions in the industry. Hence you can say, “I understand that positions similar to this one pay in the range of X to Z in our Country / Industry. And with my experience, would like to receive something in the same range.” – This answer gives you an opportunity to negotiate based on the findings and on your skills. It also shows that you did your research and have a rough idea of how the market is.

A few things to remember:

Some companies have a strictly structured pay scale hence they may not allow any form of negotiation. It would be prudent for you to conduct your research before hand to know whether the company you are interviewing with has such strict policies and if your expectation falls within their scale. This is because such a company can only give you an offer within their range and mostly start from the lowest so as to allow room for yearly increments. 

Majority of the Employers start low, meaning if you are to give a range, then more often than not their offer will start from the lowest range that you quoted. Be sure to quote a minimum that you will be happy with if offered the same.

Be comfortable in putting a value on your skillset and talents. As long as you have done your research and are sure you are worth what you are asking, do not hesitate to give your answer. 

Be sure of the job requirements and the responsibilities before quoting a figure. If not sure, ask the Hiring Managers to elaborate their expectations of the candidate to be hired. With a clear understanding of what is required, then you can determine a value as a salary target.

Lastly, if and when the Hiring Company contacts you with an offer and you are not sure, check out this article that can shed some light on what to do. 

 

We at Crystal Recruit walk with our candidates during the entire hiring process hence the advantage of knowing if your salary expectations are within our client’s budget.

Write to us and we will get back to you on your career journey. 

New Job Offer but Low Salary? NEGOTIATE!

We all get excited at the prospect of a new career and the benefits that come with it.

So, you go through the interview stages and finally they say they like you and want to make an offer. However, when you hear the offer your heart sinks as is not per your expectations.

What to do? Negotiate.

We negotiate on a daily basis whether we realize it or not and so you do not have to be a Master Negotiator to get the salary you desire or benefits package you hoped for.

Before turning the offer down or accepting the job offer to quickly, here are a few things to consider;

Your initial salary will determine your subsequent increments;

imagesnegotiateIt is commonly agreed that you would rather get a good package at the beginning than try to negotiate for a change half way. At the onset of making a hire, the Employer wants you on board and hence they are more flexible to your demands.

Most companies offer yearly salary increment based on performance and if you are to negotiate a better salary at the beginning of your employment, it would lead to increased earnings as you progress with your career and continue being a performer.

Look at the whole package

This is very crucial when it comes to jumping ship. Do not be too fixated on the base salary that you forget to put into consideration all other benefits such as medical cover, insurance for self and family, pension, allowances, bonuses etc.

There are also other nonfinancial aspects to think of when negotiating such as the work culture, flexi-working hours, the career growth prospects, training and development and company values in general.

You want to work in a company where you are excited to be in everyday being that we spend more of our time at the work place.

Project into the future

Put your imagination to use.

What will you gain having that company in your CV in let’s say 2-3 years time?

Does the opportunity provide a spring board to propel you further in your career?

Are there new skills that you will acquire in the new job?

What type of problems are you going to solve and how will this impact your career?

These are questions to generally ask when changing career so as not to make a plateaued kind of move where you find yourself stagnated, just a different location.

In essence, if the career benefits are overwhelming, and you accept the Job Offer,  you will have positioned yourself at a place that future employers fight for your kind of skill-set.

Watch out for ultimatums

Avoid giving the Employer ultimatums and also watch out when such is given.jumpship

Don’t be rushed into accepting a job offer because they said for example, “the offer expires in 1 day”. Ask for more time. And if they are not willing to give more time, then, in my opinion, they perhaps don’t deserve you?

The negotiation period should be a time where both parties are exploring best possible compromises and as much as time is of the essence, it shouldn’t be a ridiculous ultimatum.

Talk to Someone

As much as changing jobs is an individual decision, sometimes it does help talk to those who have gone before you. If possible, a mentor or a peer or a close friend who actually knows you well especially when it comes to your career.

You could use platforms like glassdoor and pay scale to gather intel but these alone can be misleading as could be an aggrieved employee writing negative material.

Have the Employer’s Needs in mind

Different companies have different pay scales and this is determined by several factors. Some could be at the start up phase, some are medium sized, others are restructuring etc. Hence is important to do your research to know the Employer’s current position when it comes to salaries and compensation and how that compares to their industry. This means then that you have to know the Employers needs and their priorities and if their priorities do fit with yours.

To note, a company can pay high salaries but their employees operate in a high pressured environment, or a company pays relatively average salaries but with a relaxed work environment.

I usually tell candidates that I work with that choosing an Employer is the kind of relationship that you want to be of value beyond monetary gains.

In conclusion, therefore, when evaluating what you are offered, visa-a-vi your current job, compare them from all possible angles before saying a quick Yes, or a regrettable No.

 

NB// We at Crystal Recruit work with candidates by connecting them to great career opportunities with Potential Employers. Reach out to us via Email and let us talk about your next career move.