Job interview - What does one do when asked about salary expectation?
 

A friend of mine had a job interview at a fairly large company. It's some kind of executive position, VP of something or another. I'm not sure what it is he really does at these companies.

Anyways, he was asked during the interview what his salary expectations were, which seemed to take him by surprise.

He ended up not putting a number on the table.

He asked me what I thought he should do. I really have no idea. What is standard procedure for most companies these days?

(My guess is he did the right thing, and that he should wait them out until they put the first offer on the table. That's standard procedure for almost any negotiation, don't put out the first number. But do potential employers go for that these days and relent and give a first offer, or will they eventually pass him up if he doesn't cough up a number? I think he told them he'd have to research it, and they wanted him to call back over the next few days with a number).

They didn't even give him a salary range for the job? Check local for similar work and see what they pay. He must have some idea without insulting them.

Personally I would tell them, give me one month to prove I am worth this much _________

I'd be thinking I would know what I'm worth and what I'd ask for to be happy in the new job - add a bit of negotiable head room and put that on the table.

If they say fine - everyone is happy, if they baulk and counter offer, you can then re-evaluate your position and move down the scale or drop out.

Take the upper hand and drive the negotiation.

Tim

You really want "them" to give you the number or range they are willing to pay, but they usually get you to give a number. I usually base that number on what I'm being paid now (if it's a similar job) or what the industry standard rate is at the time. Very dicey...

I've always been asked at every interview. It sucks. I've been told to try to always get them to put a number out first which may be possible, but I don't know how. I've been told that a good way to answer the question is with something like "I'd like a fair salary for the responsibility that the position entails." I think the important thing is to have a good idea what you think the position should pay and an idea of what you want. I might be tempted to go a little high and then negotiate down. But then, I'm horrible at negotiating too.

When I've been asked, I tell them what I'm making now and add that, while I'm looking for more $$ and responsibility, I have it pretty good at my current gig and won't make a lateral move.

I tell them what I am making (and add some nice padding in the process) and let them know it is a risk for me to make a move. If they need me, it will have to be a bump from my stated amount.

It all depends on supply and demand. This kind of thing can't work in all professions.

I tell them what the market is for someone of my skillset. They can easily look it up and get the salary surveys themselves if they want to. That sets a baseline for negotiation and gives me the opportunity to upsell them why I'm worth 10-20% premium over market.

I don't mind being asked that question up front at all, it gets some of the functional issues out of the way quickly and lets you move on to whether or not you like each other. I know my value. Do the research before you even go in for the interview, that's one of those things that you must know before you even sit down to talk.

Take that number and add in the "what's it worth" factor for you to change jobs. Everyone's got their "what the hell number", my experience is that those that value the skillset will either hit it or get within 5%. Those that don't won't come close. It's been a very successful litmus test for me.

Remember that you make your best deal walking thru the door.

I just went for an interview with an agency my company has an open ended contract with...With every new assignment have them add perks... etc..

In any event, I found the receptionist who directed me to the room the interview was in...

Closed door..... I knocked and waited for a response...Went into the the room and there were five people one one side of the table, and one empty chair on the opposite side... which is where I was interrogated...

They had list of 15 questions that they asked me, each got a different question..

In all it was a very strange experience..

At the end the lead interrogator asked me if I had any questions.... And I did...

"When do I start"

i'd go into an interview with a number in mind. if u don't, you don't have a point to start negotiations with.


your friend is interviewing for a VP position and doesn't know how much he's worth? my advice would be to tell him to seriously take a moment and self reflect and evaluate your own worth as a VP to a company.

companies will always lowball. so as a potential employee, if you have confidence in your abilities, you need to high bid.

I answered an ad on Career Builder and I got an email back asking me what my salary expectations for the postition was. I guess they are looking for the low bidder. :(

Hats off to you guys.
I would really suck going through that type of interview affair.
I've been the boss (of myself) for so long that I'm not fit to apply for a real job. I'd be the first one gonged.
Jim

In my opinion....

While you do not want to leave any money on the table you absolutely should have an idea of what you want for compensation before you interview.

That said, if this is something new that is different than what you have done in the past, it is possible you may not know what to ask for. But that is where your communication skills come into play. It never hurts if in question to ask what the typical compensation package consists of for this position. Most companies already know this before they interview but there's always wiggle room depending on each applicant's individual track record and what he brings to the table.

Lots of variables so I don't think you can put a template on every situation but again your communication skills will serve you well if you can use them wisely.

i keep thinking about the old saying - the first one who talks loses The First Rule Of Negotiation: First One To Talk Loses | justinmchood.com

My answer to that question always has been "If this is an offer of employment, then I am willing to negotiate a salary." If there is no job offer, then what is the point of the discussion.

every job i apply for in my field asks for "salary requirements". i hate this. i indicate what i was making at previous job and state that i am flexible. not sure what else i can say.

I was asked this applying for an internship. I just told them what I am making right now... I know what I am making now is what they paid interns a few years back. I'll be happy with that, any more is icing on the cake.

Last job interview I did, they asked me what my salary history was, and what my salary expectation was. I knew exactly what I wanted, I asked the HR manager if that was not too high, she said no, that is within the range, on the higher end. And they gave me exactly what I asked for.

When I am the interviewer I typically ask both the interviewee's most recent prior comp plan, as well as what they want/expect in the position being discussed. Before going into the meeting I already know generally what the market range is, and what I've payed other people for similar work.

Rick's approach is a good one.

Every company at which you would want to work conducts compensation analyses, to ensure "internal" equity (salaries within the company make sense compared to other salaries in the company) and "external" equity (salaries within the company make sense compared to counterparts at other companies). Companies that pay rates which are not managed this way.....are messed up and this causes workers to feel cheated.

The question is a fair one, in a way. They may want to hire you, but not if you feel the pay sucks. If you feel that $80K is fair and they're thinking $55K, then hiring you would be a mistake because you would feel underpaid, and workers who feel cheated will be expensive, one way or the other.

They just want to know whether your expectations are potentially a match for what they are able to pay. And if this is a hard question, then I'd say you need to do your own compensation analysis. Find out what market rates are for your work.

As I say, Rick's approach is a good one. "I'm currently making $85K. I would want more responsibility in order to leave my current role, and more money. It's be great to make $125K but I'm not expecting that." See what they say.

Sadly, "Enough to keep me in hookers and BLOW and a Kick-azz golden parachute" isn't the right answer.

If one is looking for the position he should do some research and find out what it pays. Look at the time in office/time in field and see what it would take him to take the job.