How to Answer the Dreaded Salary Question
You’ve seen the question on job applications and perhaps even been asked directly in an interview: What is your salary expectation for this position? Instead of letting this stop you in your tracks, be prepared, and do your research.
When asked to submit this information in advance of an interview for a job application, it’s a way for Human Resources to weed out inappropriate candidates who overshoot the salary range. Those who undershoot lose their negotiation edge if an offer is extended so the research is imperative before you get that far.
Start by doing some online research via the Occupational Outlook Handbook http://www.bls.gov/oco/ – a wonderful resource compiled by the US Department of Labor. This website lists a plethora of job fields and positions and compares industry standard salaries in different geographic areas. An entry-level accountant will make more in New York City than in Indianapolis since the cost of living is higher in Manhattan. It behooves you as the job applicant to be armed with this data and it can help you negotiate if they offer a low-ball salary. Cite the Occupational Outlook Handbook as the federal government resource established to give job seekers access to salary ranges if asked how you came up with your suggested salary.
Another strategy is good old fashioned networking. Find people in the organization that you can approach for informational interviews and subtly ask about standard salary ranges. If you do this far enough in advance you will be armed with information well before you get to the interview. Some organizations, especially non-profits, government, and higher education entities publish their salaries publicly. Some corporate entities will also post benefits and salary ranges online so job seekers know what they are getting into. Most companies want to be transparent so they can attract best fit candidates who have done their research and come in with realistic expectations.
Don’t ever skip the salary question on an application or list negotiable as your answer. This will automatically put your resume in the ding pile even if you have stellar credentials. Indicating a range (i.e. $40,000 to $60,000) is the safest way to land within an organization’s given salary and give yourself room to negotiate. If you learn that the salary range is below your desired income, ask about promotional opportunities and advancements and how they are handled in the organization when extended an offer. Some raises are lock step while others are merit based. Some organizations are hamstrung by state or federal funding so it’s wise to know how things work before you apply.
Remember, a good HR Director’s job is to get the most talented applicant for the least amount of money. Don’t take the offered salary level personally. It’s your job as the candidate to be prepared with the realistic salary range and match that with your experience and qualifications to negotiate accordingly. Always negotiate because you won’t get anything if you don’t ask! Most organizations bid low to give themselves negotiation wiggle room with a counter offer. There are other tangibles that have value during a negotiation like vacation, benefits, work schedule, and flex-time, for example so even if the salary is set in stone, consider what else would sweeten the deal for you.
