When you’re in an interview, and you’re asked “What’s Your Salary Range?” you may feel taken off guard. How do you know how much to ask for? How do you know how much you’re worth? Or what the company is willing to offer you? How do you determine an answer sufficient enough that you’re comfortable with? Today we’re covering all the answers to your questions, below.
Research What the Positions in Your Area Make
Before you begin applying for positions, do your research on what the salary range is for similar positions in your area. Be sure to research the position, as well as your location – make note that the salary of a position in New York City, will be much different than the salary in a small town. There are plenty of resources online to research and determine salaries. For example, Glassdoor’s Salary Search Tool, or Indeed’s Salary and Comparison Search.
Factor in Your Skills, Experience, and Education
Once you have an idea, factor in years of experience, the skills you possess and the level of education you’ve completed. Having 10 years of experience with a Master’s Degree will yield a higher salary than a high school diploma with 2 years of experience in the same field. So be sure to include this into your equation when determining your worth.
Assess the Whole Picture
Do some research on all factors that come with the job. For example, is it an extremely short commute? Are the benefits worth lesser pay? Are you offered a flexible work schedule? Or work from home hours? Assessing the whole picture will help you decide what salary you feel comfortable accepting.
Negotiate, or Politely Decline
And lastly, if you’re able, inquire about the salary during a job interview. The company may want to determine what type of candidate you are and what they’d be willing to offer with your level of expertise. If they’re open to sharing those ranges – ask. If you’re offered the position and the salary is not what you are looking to accept – you can either negotiate – if you feel comfortable, or politely decline. If you’re unsure, you can say something like “I would not be able to accept anything lower than X”, or “I would be comfortable making between X and X”. And if they are not willing to find a number that you both can agree on – than declining the position is an acceptable response. You are not required to take less pay than you’d like, and declining an offer is part of the process if necessary.
How would you respond to, “What’s Your Salary Range?”
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